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Will the Price of Gas Ever Go Down?

News 2011/04/07 23:11:27
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Oil prices have risen above $100 a barrel again, in case you haven't noticed, and because of the political chaos rampant in the Middle East, some speculators fear the price might not recede this time.

"This latest oil price spike may not be as temporary or 'speculative' as once thought," says HybridCars.com. Demand isn't just growing in a rebounding U.S. China's oil consumption is expected to rise 14 percent by 2015, which is good reason to expect that $100-plus per barrel crude may be here to stay.

Other sources say the market will force prices back down, but no one can say for sure.

Read More: http://theweek.com/article/index/213981/is-100-a-b...

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  • zbacku 2011/04/08 02:55:14
    No
    zbacku
    +8
    It will NOT go down until Obama is IMPEACHED and kicked out of office or after 2012 when 'We The People' do what the Congress is afraid to do.

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  • Chris 2012/04/21 11:37:46
    No
    Chris
    +1
    The only way for Gas prices to decrease is people need to stop buying 5 cars for one household. The amount of cars per household is staggering compared to any other time in automobile history.
    We have turned the necessity of owning a vehicle into a hobby. Our society will buy a brand new car for a 16 year old birthday... 16 year olds don't need cars, they need diplomas. What is the point of bringing down gas prices... If we are going to continue to own multiple cars. It is basic supply and demand. Consumption of fuel is off the charts due to the amount of new cars on the roads over the years.
    Stop buying more cars and economize with the ones you already have.
    Vehicles are so temporary now. God forbid we own a car for more than 5 years... I see no silver lining due to our own greed
  • kempton Chris 2012/07/31 06:40:54
    kempton
    +3
    You're talking about the recession and we're not in the recession because of buying a teenager a car or buying to many cars. It's because of buying to many houses at one time. A major part of it also is because of the war.
  • Rebecca Hurst 2011/08/29 20:16:04 (edited)
  • ALPHA RESIDENT 2011/08/19 16:48:11
    No
    ALPHA RESIDENT
    The US government will keep adding taxes to every gallon of fuel/gas. The government is the problem, not the oil companies. 40% of a gallon of gas is in Fed/State/Local taxes. 5% is actual profit, the remaining is overhead cost. (refining, production, and marketing cost). The government/media point the finger at everyone other than themselves.
  • Go Obama 2011/05/15 15:06:43
    No
    Go Obama
    If Bush wouldn't had been in office we wouldn't be in a lot of s*** we in like 9/11 R.I.P To everybody we lost on that day.when Bush was in office gas prices was starting to go up! He left his problems for Obama to fix!!!! Obama can't fix 8years of what Bush F***ed Up! So too all you Bush Loving ppl you did it to yourself. When you put Dumb, Cant Read or Past Fcat, or do anything to help USA in office. Go Obama! Don't Hate Cause he is Black!
  • devof430 Go Obama 2011/08/04 20:44:05
    devof430
    you might be the most illiterate person in the entire world. past fcat? you mean pass. prices was starting to go up? gas has jumped 2.50$ since obama took office. it was much more steady when bush was in office. if you dont have an idea what youre talking about, then dont comment. i disregard any opinion by uneducated persons.
  • Jackster12 devof430 2011/08/31 12:18:49 (edited)
    Jackster12
    Granted, "Go Obama's" post wasn't high prose... and yep, gas prices have gone up since Jan. 2009. But... you ARE kidding right? Are you really oblivious to the fact that gas prices exploded during Bush's two terms in office?

    On January 15, 2001, five days before George W. Bush took the oath of office, the average gas price was $1.66 per gallon. While Bush was still in office, gas prices peaked on July 15, 2008 at at $4.35 per gallon.

    That's a $2.69 jump, hombre. And no question, one of the many factors that contributed to the economic blowout that -- how do we keep forgetting this -- began UNDER George Bush (the other factors being years of ridiculously low interest rates, unhindered thievery by the banks that finance Washington (on both sides of the aisle), and the popping of an actively encouraged real estate bubble).

    UNDER Bush, those gas prices rose because the dollar tanked due to HIS record deficit spending and debt accumulation... because of HIS $1 trillion+ pointless war in Iraq... because of HIS failure to reign in the Iran problem diplomatically... and because we spent most of those eight years losing one economic edge after another to China, which itself grew at a near-double-digit clip annually and spent its growing fortunes cornering sweetheart deals with our form...



    Granted, "Go Obama's" post wasn't high prose... and yep, gas prices have gone up since Jan. 2009. But... you ARE kidding right? Are you really oblivious to the fact that gas prices exploded during Bush's two terms in office?

    On January 15, 2001, five days before George W. Bush took the oath of office, the average gas price was $1.66 per gallon. While Bush was still in office, gas prices peaked on July 15, 2008 at at $4.35 per gallon.

    That's a $2.69 jump, hombre. And no question, one of the many factors that contributed to the economic blowout that -- how do we keep forgetting this -- began UNDER George Bush (the other factors being years of ridiculously low interest rates, unhindered thievery by the banks that finance Washington (on both sides of the aisle), and the popping of an actively encouraged real estate bubble).

    UNDER Bush, those gas prices rose because the dollar tanked due to HIS record deficit spending and debt accumulation... because of HIS $1 trillion+ pointless war in Iraq... because of HIS failure to reign in the Iran problem diplomatically... and because we spent most of those eight years losing one economic edge after another to China, which itself grew at a near-double-digit clip annually and spent its growing fortunes cornering sweetheart deals with our former oil partners.

    All before Obama even took office. You're right to push Obama to get this under control. That's his job. But you're a fool if you pretend Bush had no role in it, much less a major one...

    2009 kidding oblivious gas prices exploded bushs terms office
    (more)
  • kalo4 devof430 2011/09/16 19:57:01
    kalo4
    +3
    Correlation does not imply causation.
  • David M... devof430 2012/03/16 01:27:57
    David Marcy
    +3
    what about the $4.50 gas prices that we saw the summer of 2008? Before Obama was elected. Was that Obamas fault too?
  • john Go Obama 2011/11/15 19:07:06
    john
    +4
    your arguments have been made by countless of the most unintelligent liberals( occupy wall street protesters aka wall street thieves/rapists). Congratulations your arguments could be comprehended by preschoolers who teacher bans thanksgiving in hope of achieving true political correctness. Dont make arguments you cant back up with facts or satistics..obama has accumulated the biggest debt our nation has seen, our s&p; credit rating has gone down for the first time in our nations history and unemployment continues to be higher than ever. Those are facts my friend. People dont hate obama because hes black (another lame, unintelligent, childish mechanism used by liberals) they hate him bc he is the WORST president that has ever been elected in our country
  • eric morse john 2012/05/20 18:15:38
  • oggy Go Obama 2011/12/29 17:46:58
    oggy
    +2
    Don't hate Bush because he is white. He didn't cause 9/11 by the way. Honestly what problem did he cause that Obama has to fix? The only thing Obama has done is mess it up more so a failed attempt to fix anything.
  • David M... oggy 2012/03/16 01:30:27
    David Marcy
    +1
    he got us into two wars that have flopped. Naturally war is supposed to be an economy booster. These wars have been nothing but money pits.
  • hatehilary David M... 2012/05/09 00:26:59
    hatehilary
    The wars were money pits for us but Cheney probably made it big. Since Haliburton got most or all of the war contracts.
  • hatehilary oggy 2012/05/09 00:25:51
    hatehilary
    Two wars that have cost lives and money. You probably have a short term memory but right before the election in 2008 the economy went to hell and they had a big summit meeting when McCain suspended his campaign to run back to DC to try to help. The Bush problems probably won't be fixed for many many years.
  • eric morse Go Obama 2012/05/20 17:34:43
    eric morse
    +1
    are you really serious how do you take a current problem and blame someone else,in case you have not noticed whats goin on around you,IT IS CONGRESS who is putting the screws to us all an elected goverment can trample and ruin anything you try to put in front of them,president bush is not the problem for increased gas prices why?cause hello idiot stick he is not president anymore...it is the dumbasses in congress you should be blaming they know exactly where there is money to be made why waste time in low key areas when they go for the big one oil,wanna know why cause they know we need it not just us but this entire world needs it they know this and target it...and believe me you they are making more money and have been making more money than you could ever hope to see in 2 life times...so pull your head out of your ass and take a good look at whats going on around you...one man is not the problem it is many....
  • kempton Go Obama 2012/07/31 06:52:08
    kempton
    +1
    If you think about it when Bush Sr. was in office there was war. When Clinton was in office there was no war then Bush Jr. gets in office. Now Obama is in office and one of the 2 wars is over thanks to Obama. So no one can blame Obama for anything when he's just cleaning up another persons mess.
  • The Gov-Here to help BN362 2011/04/28 19:22:37
    No
    The Gov-Here to help BN362
    They will go above 200 a barrel
  • Cthulhu 2011/04/28 03:18:04 (edited)
    Yes
    Cthulhu
    When the uprisings in the Middle East are settled, the oil price should go back to a normal level.

    Am I being too optimistic?
  • suzieq_s 2011/04/12 19:07:46
    No
    suzieq_s
    +1
    Why should the big oil companies reduce the price at the pump, they already know we'll still fill our fuel tanks before we'll pay our mortgage, because we have to have gas in the tank in order to get to that minimum wage job.
  • eric morse suzieq_s 2012/05/20 18:19:12
    eric morse
    +2
    just so you know it is not the oil companies that raise the prices it is our goverment
  • fizzleiscrazy 2011/04/12 16:13:01
    Yes
    fizzleiscrazy
    They better or i am goina be so PISSED!
  • mada10 2011/04/12 15:33:08
  • kmay 2011/04/12 12:48:50
    Yes
    kmay
    When we vote Obama and company out come 2012!
  • Jackster12 kmay 2011/08/31 12:30:32 (edited)
    Jackster12
    The only way you'll see gas prices go down in the future, Obama or Republican in office, is with another major recession. Period. That's it. Because once you remove economic stagnation, the permanent supply-demand cycle kicks back in and prices go up.

    OR...

    You might see them go down if we find a viable alternative. That's not "green-speak" it's just the simple truth about economics. Natural gas might work for a little while, but requires retro-fitting and rebuilding our car industry. The easiest solution might very well be algae-based fuels, which still need work as well... but offer a far better, longer-laster value to the U.S. than another oil war.

    Before you dismiss that idea, Goolge algae biofuels and read. It's incredible stuff and very likely, at this point, the future. (P.S. Nobody thought we'd ever move away from horse-drawn buggies, either. But we did.)
  • kmay Jackster12 2011/09/01 20:12:34
    kmay
    sock troll
  • Jackster12 kmay 2011/09/06 13:04:29
    Jackster12
    Wow... such an intelligent reply/rebuttal. Meanwhile, the facts remain. We're running out of oil we can process into other fuels. And the politics of that reality are but a temporary distraction. Drill, don't drill. It won't make much difference, even in the short run. You might not be objective enough to care about that now, but you'll care later... when you can't afford to heat your house or fill up your truck.
  • kmay Jackster12 2011/09/06 18:30:40
    kmay
    Wrong sock troll.
  • Jackster12 kmay 2011/09/13 10:19:47
    Jackster12
    What's "wrong" about it?
  • joe 2011/04/12 05:15:28
    No
    joe
    +1
    NO and it will also never rain again, it will never snow again, the world is coming to an end.
  • fish 2011/04/12 05:10:09
    Yes
    fish
    +1
    People forget the US get 2/3 of it's oil from North America. Inventory is increasing not decreasing. Speculators are the ones keeping up the prices by bidding up barrels of oil. The higher the prices go less Americans will be able to afford and at some point it will reach critcal mass and the prices will tank, just like back 2008.
  • skruncher427 2011/04/12 03:29:18
    No
    skruncher427
    +1
    It seems that every single lawmaker is connected to the oil industry in some fashion or another. I just heard that Chevron's profits are going to be higher this quarter than they are last quarter. Lawmakers won't do anything about any major spike in oil prices because they're being paid by the oil producers not to do anything.
  • ace771 2011/04/12 00:32:30
    No
    ace771
    with OUT A President and with A muslim terrorist illegally in the office things are only going to get worst,
  • terri 2011/04/11 22:47:42
    No
    terri
    +1
    Due to the great greed of rich people that has a stake in oil money ask the Bush family.
  • chief 00 2011/04/11 20:14:36
    No
    chief 00
    Down, yes. Back to normal...NO!
  • KMS 2011/04/11 19:53:28
    No
    KMS
    +1
    When this country stops shelling out $millions to other countries, they can help their own. We keep forgetting ..........."charity begins at home."..... If we don't help ourselves, who will?
  • Glen 2011/04/11 15:59:43
    Yes
    Glen
    +1
    As soon as we begin to use our oil reserves the prices will drop.
    Plus, we need more refinery capacity because we cannot even produce the gasoline we need.

    If we refined a minimum number of blends instead of several states creating their own formulas, there would be less shutdown time with fewer blends and more refining time.
  • wtw 2011/04/10 21:36:42
    No
    wtw
    +1
    Something is real wrong-last time gas pricers did not go to 4.00 until the barrel was $150.00 per barrel and now it is barely over 100.00 per barrel and it is 4.00 a gallon--who is lying to who--and who is causing or allowing this. I blame Obama because he wants gas prices high! Guess what hurts the economy the most? It is high gas prices and the dems refuse to allow drilling in the US. If the repubs don't capitalize on this they are stupid--Obama does not care about the economy or the poor!
  • hatehilary wtw 2012/05/09 00:32:44
    hatehilary
    Are you kidding Obama doesn't want the gas prices high. The high gas prices hurts the economy. People fill up their gas tanks to get to work and they can't buy other things or go on trips. The gas prices make the cost of goods go up - that will hurt the economy. With high gas prices, bad economy Obama can't get re-elected. Of course he cares about the poor - he doesn't want to cut unemployment, food stamps, Social Security, Medicare, Planned Parenthood, HUD etc. Romney has said I'm not worried about the poor they have a safety net. Well Paul Ryan (might be a VP pick) and other Republicans are trying to cut that safety net. I thought it was stupid when Romney made that comment.
  • Billyk75 2011/04/10 18:43:04
    Yes
    Billyk75
    +2
    When we start drilling for our own oil.
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