Shortages via policy are both directly increasing prices and over sensitizing the market to even the smallest supply disruptions; but taxes are still more (51.2%) of the price of gasoline than that earned by everyone from the retiree who bought stock, the geologist that found the oil, to the clerk that sold you your last tankful.
http://www.fiscalaccountabili...
haha...good one.
$4.00 then just a few days before the election the gas prices dropped to the point that everyone could have a full tank of gas if anything so that people could get to the polls and vote.....
Serious...check the internet if you don't believe me.
Here is something more specific then a photo.
http://www.treehugger.com/cor...
January 2, 2008—The day after New Years saw crude oil prices at a record $100 per barrel, with regular unleaded fuel costing an average of $3.05 per gallon.
April 21, 2008—Gasoline prices jump to a record $3.50 a gallon in some parts of the U.S.
May 15, 2008— While many people were shocked at $3 a gallon, they were not prepared for what was about to happen as prices shot up to nearly $4 a gallon. Public begins using http://gasbuddy.com/ to find the lowest gas prices in town. (I think you can even do a search to see what the actual price was on a specific day in 2008)
May 21, 2008—Oil price skyrockets to $130 a barrel. Holly cow!!!
June 9, 2008—Retail gas prices rise above $4 per gallon.
July 7, 2008—Crude oil prices settled-in at a new record of $147 per barrel. The U.S. average price for regular gasoline climbs to an all-time high of $4.11 per gallon. Road trip style vacations are put on hold for many summer travelers.
Aug. 5, 2008—Oil prices fall below $120 a barrel. Treehuggers search for the good within the escalating gas prices.
Sept. 15, 2008—The barrel continues to drop below $100 a barrel for the first time in six months. The idea of a serious financial indust...
Here is something more specific then a photo.
http://www.treehugger.com/cor...
January 2, 2008—The day after New Years saw crude oil prices at a record $100 per barrel, with regular unleaded fuel costing an average of $3.05 per gallon.
April 21, 2008—Gasoline prices jump to a record $3.50 a gallon in some parts of the U.S.
May 15, 2008— While many people were shocked at $3 a gallon, they were not prepared for what was about to happen as prices shot up to nearly $4 a gallon. Public begins using http://gasbuddy.com/ to find the lowest gas prices in town. (I think you can even do a search to see what the actual price was on a specific day in 2008)
May 21, 2008—Oil price skyrockets to $130 a barrel. Holly cow!!!
June 9, 2008—Retail gas prices rise above $4 per gallon.
July 7, 2008—Crude oil prices settled-in at a new record of $147 per barrel. The U.S. average price for regular gasoline climbs to an all-time high of $4.11 per gallon. Road trip style vacations are put on hold for many summer travelers.
Aug. 5, 2008—Oil prices fall below $120 a barrel. Treehuggers search for the good within the escalating gas prices.
Sept. 15, 2008—The barrel continues to drop below $100 a barrel for the first time in six months. The idea of a serious financial industry recession is discussed as the market literally begins to melt down!
Oct. 16, 2008—Oil prices fall below $70 a barrel, which is less than half of its July peak. Signs of $1.99 a gallon gas brings celebration to the masses. Some consumers begin to talk about dragging out their gas guzzling SUV's and Winnebago's for the first time in months.
Nov. 3, 2008—U.S. Gas prices drop to $1.72 a gallon. Some gas stations even roll out a $.99 cent promotional deal. Treehuggers question whether the sudden drop is as good as most consumers seem to think it is.
Dec. 17, 2008—OPEC removes 2.2 million barrels from its daily production. Crude oil collapses to $40 a barrel, becoming the lowest price in almost 4 years.
Dec. 26, 2008—Gas prices tumble to $1.64 a gallon. Some areas seeing prices as low as $1.45 a gallon. Crude oil is just a little over $40 a barrel still.
Dec. 31, 2008—Crude oil prices plummet below $37 a barrel while the U.S. average price for a gallon of regular unleaded gasoline falls to an amazing 5-year low of $1.61.
There Did I miss anything? Would you care to predict what next year should see in terms of oil and transportation?
That should take care of your photograph.....but then I can only guess that you were just "joking" with the picture..
This tight coupling of gasoline prices to economic activity will break down in the near future....my best guess is 2016 when new supplies of oil will create an oil glut driving prices down to between $3 and $4 per gallon...perhaps even lower.
I have gasoline records that date back to 1980 where the highest I paid for a gallon in Cleveland was $1.19 and everyone was having a hissy over that...but NOW the only places that people seem to be able to go to is work. The number of people that have gone on vacations to other places have drastically dropped because people cannot afford the gas to get there.
The last year my dad was alive, he died in 2009, we both pitched in on the gas for his motor home...and then we only went from Toledo to the middle of Michigan. The cost to fill the tank of that bus was $200 a fill up which cost us round trip just a little over a grand.
Needless to say people today have to hold down two jobs...one job to pay for the rent and other things and one job just to pay for the gas you have to use to get to work at both places.
I think back in the old days that would be called a DOUBLE WAMMY
My personal experience with gasoline prices extends back to the late 60s. During my MBA, 1979-1980, I did a paper which described the drivers behind oil prices which evaluating the elasticity of supply and demand with price over time. This led me to predict the 2008 price peak in 2004. and now leads me to expect a glut beginning in 2016 although you won't see anyone calling in a glut before 2017 or 2018.
As for people holding 2 jobs...that is a choice. Our generation chose to have bigger houses, bigger cars, and more gadgets than our parents. My wife only worked occasionally and the when I have held two jobs it has been by choice not economic necessity. .... of course, my needs are simple.
I went out an bought a 16 foot used 1956 Lyman with a 50 horse outboard and I though my kid was going to go ballistac...I had been saving for a long time like 6 years, what did he do a month later? WENT OUT AND WENT $39,691.66 IN DEBD AND BOUGHT A SCARAB..........needless to day the kid got a bitch slap from the old man that was back in 2004 he lost everything in 2010, he voted liberal, and I still have my 1956 Lyman, my 83 year old house, and my 1998 Ford Tauras..all paid in full....and I do rub it in his face....I know he is my son but he is going to learn one way or another even if he is 42...if not then he will be a bum for the rest of his life.
He works everyday but the company he works for has a suck ass'ed union that does not think of the workers.....
At lest every 3 or 4 months he is hitting his mother up for a few hundred, she is a typical mother and he knows the old man will say no.
The rest of his brothers and sisters and I have 10, have good paying jobs and knows how to live within their means...Tony on the ohter hand was my last and there for spoiled by both his mother, myself and the other nine.
Also I want to say thank you for that link it will come in handy at a few political sites I just happen to go to ever so innocently...you know how innocent us Conservatives are.......
2008
November $2.15 Barack Obama defeats John McCain in presidential race
December $1.68 Last full month for President George W. Bush
2009
January $1.78 Barack Obama inaugurated as president (Jan. 20)
February $1.92
March $1.94
April $2.05
May $2.26
June $2.63
July $2.54
August $2.62
September $2.57
October $2.56
November $2.66
December $2.62
2010
January $2.73
February $2.65
March $2.78
April $2.85
May $2.86
June $2.73
July $2.73
August $2.74
September $2.70
October $2.79
November $2.85
December $2.98
2011
January $3.09
February $3.16
March $3.54
April $3.81
May ...
2008
November $2.15 Barack Obama defeats John McCain in presidential race
December $1.68 Last full month for President George W. Bush
2009
January $1.78 Barack Obama inaugurated as president (Jan. 20)
February $1.92
March $1.94
April $2.05
May $2.26
June $2.63
July $2.54
August $2.62
September $2.57
October $2.56
November $2.66
December $2.62
2010
January $2.73
February $2.65
March $2.78
April $2.85
May $2.86
June $2.73
July $2.73
August $2.74
September $2.70
October $2.79
November $2.85
December $2.98
2011
January $3.09
February $3.16
March $3.54
April $3.81
May $3.93
June $3.70
July $3.65
August $3.63
September $3.61
October $3.46
November $3.42
December $3.27
2012
January $3.381
February $3.64*
* February 2012 number is from AAA’s National Average Prices.
http://cnsnews.com/news/artic...
8/15/2012 4:20:00 PM ET
"...Energy was one of today's main laggards despite crude oil climbing 1.2% to $94.50 and testing levels last seen in mid-May. The spike in crude comes on renewed tensions between Israel and Iran.
Looking closer at the sector, Contango Oil & Gas (MCF 55.12, -4.76) slid 8.0% after announcing its Chairman and CEO, Kenneth Peak will be taking a medical leave of absence. Other energy names also showed significant losses despite the lack of news driving their declines. Alpha Natural Resources (ANR 6.61, -0.23) was down 3.4% while WPX Energy (WPX 14.58, -0.37) slipped 2.5%. ..,"
As you can see, the fluctuations on the price of a barrel of oil is solely driven by the market and speculation and fear and any silly thing that Wall Street can use to squeeze one more red cent out of the price of a barrel of oil. For each penny the price of a barrel of oil goes up, the total money made is in the millions due to the millions of barrels sold per day. So as you can see (but may not want to see), tension between Iran and...
8/15/2012 4:20:00 PM ET
"...Energy was one of today's main laggards despite crude oil climbing 1.2% to $94.50 and testing levels last seen in mid-May. The spike in crude comes on renewed tensions between Israel and Iran.
Looking closer at the sector, Contango Oil & Gas (MCF 55.12, -4.76) slid 8.0% after announcing its Chairman and CEO, Kenneth Peak will be taking a medical leave of absence. Other energy names also showed significant losses despite the lack of news driving their declines. Alpha Natural Resources (ANR 6.61, -0.23) was down 3.4% while WPX Energy (WPX 14.58, -0.37) slipped 2.5%. ..,"
As you can see, the fluctuations on the price of a barrel of oil is solely driven by the market and speculation and fear and any silly thing that Wall Street can use to squeeze one more red cent out of the price of a barrel of oil. For each penny the price of a barrel of oil goes up, the total money made is in the millions due to the millions of barrels sold per day. So as you can see (but may not want to see), tension between Iran and Isreal, and health issue of an Oil Exec had influence over what caused the change in the price of a barrel of oil today, not OBAMA!!!
8/15/2012 4:20:00 PM ET
"...Energy was one of today's main laggards despite crude oil climbing 1.2% to $94.50 and testing levels last seen in mid-May. The spike in crude comes on renewed tensions between Israel and Iran.
Speculatoin and fear of tension between Isreal and Iran pushed the price of Oil up today.
Wretha