tagged w/ Gas Prices
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According to Triple A’s Daily Fuel Gauge Report, the average price of gas in Massachusetts has risen to three dollars and fifteen cents per gallon – not far behind the national average of three dollars and twenty-nine cents per gallon.
With gas prices at a record high, many drivers are abandoning their cars in search of alternative forms of transportation.According to Triple A’s Daily Fuel Gauge Report, the average price of gas in... more
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Right before the Iowa caucus, citizen journalist Tamara
Briggman asked Sen. Hillary Clinton what she intended to do about
rising gas prices. Sen. Clinton answers that question in this video.
Considering the direction that the economy has taken since
January, and the expected increase in gas prices this summer, Sen.
Clinton's answer to that question seems even more important now
than it did four months ago.
Is her plan viable? Can we actually goad oil-producing countries into dropping prices? Should we release oil from the strategic petroleum reserves as she suggests? Is "investigating oil companies" a sufficient plan of actions, or do we need to tax the profits of those companies?
Right before the Iowa caucus, citizen journalist Tamara
Briggman asked Sen. Hillary... more
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"Score one for Obama," wrote Greg Mankiw, a former chairman of President George W. Bush's Council of Economic Advisers. "In light of the side effects associated with driving ... gasoline taxes should be higher than they are, not lower."
Republican McCain and Democrat Clinton, who is battling Obama for their party's nomination, both want to suspend the 18.4-cents-per-gallon federal gas tax during the peak summer driving months to ease the pain of soaring gas prices. The tax is used to fund the Highway Trust Fund that builds and maintains roads and bridges.
Economists said that since refineries cannot increase their supply of gasoline in the space of a few summer months, lower prices will just boost demand and the benefits will flow to oil companies, not consumers.
"You are just going to push up the price of gas by almost the size of the tax cut," said Eric Toder, a senior fellow at the Urban-Brookings Tax Policy Center in Washington.
Obama criticized the plan as pure politics and said the only way to lower the price of gas is to use less oil.
"It would last for three months and it would save you on average half a tank of gas, $25 to $30. That's what Senator Clinton and Senator McCain are proposing to deal with the gas crisis," he said on Tuesday in Winston-Salem, North Carolina.
"This isn't an idea designed to get you through the summer, it's an idea designed to get them through an election.""Score one for Obama," wrote Greg Mankiw, a former chairman of President... more
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With the decline in SUV purchases, GM is cutting one shift in four of its factories.
Another hard blow to Michigan.With the decline in SUV purchases, GM is cutting one shift in four of its factories.... more
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As expected, retail gas prices rose further into record territory Friday, nearing $3.60 a gallon. Meanwhile, oil prices rose sharply on news that a ship under contract to the U.S. Defense Department fired warning shots at two boats in the Persian Gulf.
At the pump, gas prices rose another 2.1 cents Friday to a record national average of $3.577 a gallon, according to AAA and the Oil Price Information Service. Gas prices have been following oil futures higher, but are also rising due to concerns about whether gasoline supplies are adequate to meet peak summer driving demand.
There is often a spike at the pump in the summer, but this time the rise in gas prices is extreme, reports CBS News correspondent Jeff Glor. The average fill-up is $8 more than it cost last year.
With gas prices higher than ever, thieves are targeting several U-Haul lots (listen) in Florida, reports CBS News correspondent Peter King.
Soaring gas prices are driving some commuters to embrace the somewhat radical idea of taking public transportation in car-centric Los Angeles, reports CBS News correspondent Ben Tracy. Train ridership in the city has increased by 700,000 passengers over last year.
Analysts expect gas prices to continue rising for at least another month; predictions of how high prices will rise range from $3.70 to $4 a gallon. To a large extent, how high gas prices peak depends on what oil does.
As expected, retail gas prices rose further into record territory Friday, nearing... more
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According to our president.....
"If you're out there wondering... what your life is going to be like, and you're looking at $4 a gallon, that's uncertain," Bush responded to a question posed at a White House news conference. "And when you couple that with the idea that... taxes may be going up in a couple years, that's double uncertainty."
Double uncertainty huh?! That's about as sorry as an answer as, "We're not in a recession, we're in an economic slow-down"
And it isn't just here in America where we're feeling the impacts of rising gas prices.
Baghdad subsidies let Iraqis pay only about $1.36 a gallon!
The U.S. military, through its Defense Energy Support Center, buys fuel on the open market, paying from $1.99 a gallon to as much as $5.30 a gallon under contracts with private and government-owned oil companies. The center then sets a fixed rate for troops, currently $3.51 a gallon for diesel, $3.15 for gasoline, $3.04 for jet fuel and $13.61 for avgas, a high-octane fuel used mostly in unmanned aerial vehicles.
Overall, the military consumes about 1.2 million barrels, or more than 50 million gallons of fuel, each month in Iraq at an average $127.68 a barrel. That works out to about $153 million a month!
Baghdad is currently pumping 2.3 million bpd of oil and expects to boost supply to between 2.6 million and 2.7 million bpd during 2008
Record prices on the international oil markets have driven gas prices across the board sky high, with a gallon of unleaded gas costing about $8.60 per gallon in Germany. (In Germany, gas is sold by the liter with one liter of unleaded fuel selling for an average of $2.29)
And in the UK, predictions are that gas will be 1.50 per liter by the end of the year. (3.79 liters is roughly equal to one gallon) Which comes out to be about $5.68 a gallon in USD.
I guess the question is, what are we going to do about this? Is there anything we can do about this? With the value of the American dollar at an all time low and everything else at an all time high... it seems that we are destined for a substantial increase in poverty levels.
At the current gas price level and average fuel economy of 17.8 miles/gallon, average American workers, who earn the national average salary of $40,409, spend 4.2% of their paychecks ($1,697 per year) on gas needed to commute to and from work.
"And that's the average worker," says Bill Coleman, Senior VP of Compensation at Salary.com. "Consider workers making the national minimum wage of $5.85 an hour ($12,168 per year) who are currently spending 12.1% of their salary on commuting gas."
This discussion could go on and on. Everyone has gripes about our "uncertain" economy and the dilemma that we as American's are facing today. What's your take and how can we make a change that we will be able to see in our lifetimes? Will we ever see a positive change in our lifetimes?
According to our president.....
"If you're out there wondering... what your... more
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"With gas prices soaring through the roof in recent months, Kung, 77, a retiree, took Amtrak. And, with the prices hitting a new national and local high on Monday, Kung said he will limit future trips, as well. Especially, he said, since he -- like many experts -- now believe it won't be long before prices top $4 for a gallon of regular gas."
Gas prices go up = Everything goes up. Everything goes up, We get paid the same. ughhhh ohhhh.
I just thought I'd share this since we have posts about many things with minimal emphasis on the struggling economy.
Thanks for your time,
Drew S Hermann
Audi 5000!"With gas prices soaring through the roof in recent months, Kung, 77, a retiree,... more
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Sometime in the coming week, San Francisco is expected to become America's first major city to pay an average of $4 for a gallon of regular gas. And it's forcing Bay Area residents to change the way they live.
Can you say bicycleSometime in the coming week, San Francisco is expected to become America's first... more
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In Al Gore's brand-new slideshow (premiering exclusively on TED.com), he presents evidence that the pace of climate change may be even worse than scientists were recently predicting, and challenges us to act with a sense of "generational mission" -- the kind of feeling that brought forth the civil rights movement -- to set it right. Gore's stirring presentation is followed by a brief Q&A in which he is asked for his verdict on the current political candidates' climate policies and on what role he himself might play in future.In Al Gore's brand-new slideshow (premiering exclusively on TED.com), he presents... more
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A new law in Los Angeles County might raise Southern California's gas prices by 9 cents or an extra $90 on vehicle registration fees. The law, which is currently being debated by state legislature, will provide extra money for public transportation and other things to ease traffic congestion. This law would bring in an extra $400 million to California's budget.A new law in Los Angeles County might raise Southern California's gas prices by 9... more
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"Retail gas prices surged to a new record above $3.30 a gallon Friday and appear poised to rise further in coming weeks as gasoline supplies tighten.
Oil prices, meanwhile, supported the gas price rally by jumping more than $2 a barrel after a dismal employment report sent the dollar lower."
Apparently the Oil companies forget we might be headed for a recession. If gas is so expensive, why not put more research into alternative fuel sources?"Retail gas prices surged to a new record above $3.30 a gallon Friday and appear... more
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A motorized, one-wheel unicycle you sit inside of. It's hard to explain so watch the video linked below. Any chick would die to ride on the handlebars of your giant hamster-wheel/unicycle. Well, I mean literally die.
At least it gets great gas mileage.
http://www.youtube.com/watch?v=FoKPdebrVOYA motorized, one-wheel unicycle you sit inside of. It's hard to explain so watch... more
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devo64
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added this
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4 years ago
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Got an ATA flight coming up soon? No, you don't. The budget airline filed for Chapter 11 and shut down operations, citing rising jet fuel costs and the unexpected cancellation of a large military charter contract. They join Aloha Airlines in the burgeoning bankrupt airline trend. Who will be next?Got an ATA flight coming up soon? No, you don't. The budget airline filed for... more
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devo64
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added this
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4 years ago
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"The oil company is the boss, what are we going to be able to do about it?" said Rotenbarger, who was at a truck stop at Baldwin, Fla., about 20 miles west of Jacksonville. "The whole world economy is going to be controlled by the oil companies. There's nothing we can do about it."
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I think this says it all, don't you? What can we do to protest the hostile corporate takeover of the world?"The oil company is the boss, what are we going to be able to do about it?"... more
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jubal
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added this
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4 years ago
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The Owner-Operator Independent Drivers Association says many of its members believe diesel prices at more than $4 a gallon is making it difficult for them to stay in business.
Truckers say they’re not benefiting from the rising costs of food and clothes that is blamed on diesel prices.
Members hope today’s strike might pressure President Bush to stabilize fuel prices by using the nation’s oil reserves. But many truckers still doubt the strike will be effective because trucking companies are not on board and there is no central coordination.The Owner-Operator Independent Drivers Association says many of its members believe... more
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Driven by a painful mix of layoffs and rising food and fuel prices, the number of Americans receiving food stamps is projected to reach 28 million in the coming year, the highest level since the aid program began in the 1960s.Driven by a painful mix of layoffs and rising food and fuel prices, the number of... more
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lib
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added this
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4 years ago
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A college buddy of mine gave me a great idea on getting cheaper gas. Do you want to know how? I know you answered Yes, I want to know how to get cheaper gas. Well, here is something practical and so easy anyone can do it. You'll hate yourself if you don't read how to lower your gas cost.
A college buddy of mine gave me a great idea on getting cheaper gas. Do you want to... more
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According to this blog, Russian intelligence agencies report a U.S. lead attack on Iran during the Weekend of April 6. They will target alleged nuclear facilities and try to impose U.S. approved leadership. The Bush Administration will also have the legal authority to cancel the 2008 US presidential election under provisions in the Patriot Act.
Edit: Additional research reveiled the source for this link was almost exactly one year old. The Russians thought that the US was going to bomb Iran April 6, 2007. Perhaps the Russian intelligence was just a year off, but to be clear I did not intend to mislead anyone. According to this blog, Russian intelligence agencies report a U.S. lead attack on... more
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Despite high supplies and lower demands, gas prices continue to skyrocket. Lower income Americans spend nearly a quarter of their paycheck on gas. The oil companies report record profits, breaking the record profits of the past several years. Additionally, a full time working American works three months out of the year just to pay their taxes. Milk is up 17% in one year. Wages are steady to lower. Is the government tightening the noose? Are they preparing us for something bigger like martial law? Will we be so starved and poor that we will have no energy to resist? When is greed for the super rich going to be so bad that people finally resist?Despite high supplies and lower demands, gas prices continue to skyrocket. Lower... more
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