Gas prices keep climbing even as oil prices drop

[Guest NewsBot]

NEW YORK (AP) -- The gasoline price record keeps getting broken with each passing day. AAA puts the national average for a gallon of regular at a record $3.95. It's jumped 35 cents in the past month and is 76-cents-a-gallon higher than a year ago....

 

 

 

Read the full story.

[Old Salt]

Speculators and amateur investors may just be biting themselves in the butt for forcing oil prices (and therefore fuel prices) so high.

[wez]

Speculators and amateur investors may just be biting themselves in the butt for forcing oil prices (and therefore fuel prices) so high.

 

Hard to say why.. I think it's more than just them driving the price up. Wars, demand, people are insane, the future of cheap, plentiful, energy is bleak.. Interesting times..

 

 

I think wind is our best bet for electricity...

[Old Salt]

My hometown has hydroelectric. It's an old plant, built back in the 30's, a canal was dug and water was siphoned from a local river - run through the plant - and returned to the river downstream. We used to have the cheapest electricity rates around until the town outgrew the plant and had to start buying electricity from other providers.

[snafu]

i just filled my bike up yesterday. It was $4.09 a gallon. Diesel is $4.59. Holy cow!

[Old Salt]

Got an e-mail from my mom on 21 May. Diesel in Nebraska was $4.57. She said gas prices weren't far behind, but didn't say how much.

 

The sad thing is that if people start driving less and the price goes down, they'll just jump back in their car, drive more, and bring the price back up.

[snafu]

It?s always been a sore subject here in Alaska that we pay some of the highest gas prices in the nation but a lot of the oil comes from here. So our governor plans to give gas vouchers out to help out. The problem has always been that even though the gas comes from here we don?t have enough refineries in Alaska. Maybe what we need is to build a State owned refinery instead of handing out money for a short term fix.

 

 

Legislators question Palin's energy voucher plan: Politics | adn.com

[ImWithStupid]

Maybe what we need is to build a State owned refinery instead of handing out money for a short term fix.

 

Good luck with that one. The Dems have shot down or vetoed every bill that has tried to be passed to expand either domestic drilling and building new or expanding refineries. There hasn't been any new expansion or additions to refineries allowed in 25 years.

[ImWithStupid]

My hometown has hydroelectric. It's an old plant, built back in the 30's, a canal was dug and water was siphoned from a local river - run through the plant - and returned to the river downstream. We used to have the cheapest electricity rates around until the town outgrew the plant and had to start buying electricity from other providers.

 

Local businessmen used FDR's WPA money to fund the project.

 

.

[atlantic]

Hard to say why.. I think it's more than just them driving the price up. Wars, demand, people are insane, the future of cheap, plentiful, energy is bleak.. Interesting times..

 

 

I think wind is our best bet for electricity...

You forgot Greed Wez

[Feckless Wench]

I really cannot see why Americans complain about the cost of gas.

 

In the UK we are currently paying $10 - $11 a gallon.

 

This makes driving anywhere so damn expensive as to be hardly worth the bother.

 

For instance, hubby's brother lives in Wales, it costs us an arm and a leg to drive up there...so we hardly ever go - which is a shame. My own father is in hospital in his hometown, a round trip to visit him (which he expects me to do twice a week) costs me $50 a shot!

 

It's not fair that the prices keep rising....BUT...spare a thought for those of us who would LOVE the be paying as little as you are.

[RoyalOrleans]

I pay the price the market demands.

 

I don't bitch about it, because I understand supply and demand.

[Guest Cricket]

What I am bitching about regarding the high price of gas is that people are driving slower and getting in my way. $^% law-abiding citizens!

[Old Salt]

George Soros testified before Congress that he thinks there's an oil "bubble", caused by institutional investors bidding up the price in the markets. The prices aren't necessarily reflecting the laws of supply and demand. He suggested that a market crash a la 1987 could occur if those investors were to decide to sell off.

[Old Salt]

I don't agree with Soros' political views, but he's made a fortune in the markets so I respect his opinions on the subject.

 

June 3 (Bloomberg) -- Billionaire investor George Soros said the record oil prices weighing on the economy are the result of a ``bubble'' caused by speculation from index funds and a tight balance between supply and demand.

 

``The bubble is superimposed on an upward trend in oil prices that has a strong foundation in reality,'' Soros said in testimony before the Senate Committee on Commerce, Science and Transportation. ``The rise in oil prices aggravates the prospects for a recession.''

Bloomberg.com: Canada

[snafu]

It's only a matter of time before our oil addiction will be cured along with cancer.

 

[ame=http://youtube.com/watch?v=qJpVDgVxCaY]YouTube - ?? Fuel Saving Cars ??[/ame]