In a free market the only things that determine prices are supply and demand
No matter how much we all whine about paying these prices, in matters of economics it is what we do that matters, not what we say
American drivers would rather drive large cars, drive faster and drive more miles than buy fewer gallons for a lower price
No matter how much we all whine about paying these prices, in matters of economics it is what we do that matters, not what we say
American drivers would rather drive large cars, drive faster and drive more miles than buy fewer gallons for a lower price
Cash for Clunkers, another one of Obama's total abortions.
Clunkers: Taxpayers paid $24,000 per car
Auto sales analysts at Edmunds.com say the pricey program resulted in relatively few additional car sales.
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By Peter Valdes-Dapena, CNNMoney.com senior writer
Last Updated: October 29, 2009: 5:58 PM ET
NEW YORK (CNNMoney.com) -- A total of 690,000 new vehicles were sold under the Cash for Clunkers program last summer, but only 125,000 of those were vehicles that would not have been sold anyway, according to an analysis released Wednesday by the automotive Web site Edmunds.com.
http://money.cnn.com/2009/10/28/autos/clunkers_analysis/index.htm
Lee Evans didn't drop the ball, it was knocked out of his hands
Timing is everything.
American motorists have seen the national average for a gallon of regular gasoline rise above $3.50 a gallon on just three occasions, but it has never happened this early in the year. Analysts say it's likely a sign that pain at the pump will rise to some of the highest levels ever seen later this year.
"This definitely sets the stage, potentially, for much higher prices later this year," said Brian L. Milne, refined fuels editor for Telvent DTN, a commodity information services firm. "There's a chance that the U.S. average tops $4 a gallon by June, with some parts of the country approaching $5 a gallon."
There are plenty of reasons for the high prices, and lots of reasons to fear a big price spike in the spring, said Tom Kloza, chief oil analyst for OPIS.
"Early February crude oil prices are higher than they've ever been on similar calendar dates through the years, and the price of crude sets the standard for gasoline prices," Kloza said, later adding, "We've lost a number of refineries in the last six months (to permanent closure). Some of those refineries represented the key to a smooth spring transition from winter-to-spring gasoline."
Some cities, like Los Angeles and New York, are already closing in on $4 a gallon, said Patrick DeHaan, senior petroleum analyst for GasBuddy.com.
The current national average is also 38.3 cents a gallon higher than the old record for Feb. 13, which was set last year.
Right on time for gas prices to be fresh in everyone’s memory come November.
American motorists have seen the national average for a gallon of regular gasoline rise above $3.50 a gallon on just three occasions, but it has never happened this early in the year. Analysts say it's likely a sign that pain at the pump will rise to some of the highest levels ever seen later this year.
"This definitely sets the stage, potentially, for much higher prices later this year," said Brian L. Milne, refined fuels editor for Telvent DTN, a commodity information services firm. "There's a chance that the U.S. average tops $4 a gallon by June, with some parts of the country approaching $5 a gallon."
There are plenty of reasons for the high prices, and lots of reasons to fear a big price spike in the spring, said Tom Kloza, chief oil analyst for OPIS.
"Early February crude oil prices are higher than they've ever been on similar calendar dates through the years, and the price of crude sets the standard for gasoline prices," Kloza said, later adding, "We've lost a number of refineries in the last six months (to permanent closure). Some of those refineries represented the key to a smooth spring transition from winter-to-spring gasoline."
Some cities, like Los Angeles and New York, are already closing in on $4 a gallon, said Patrick DeHaan, senior petroleum analyst for GasBuddy.com.
The current national average is also 38.3 cents a gallon higher than the old record for Feb. 13, which was set last year.
Right on time for gas prices to be fresh in everyone’s memory come November.
Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement today on the rising gas prices across the country:
“Independent reports confirm that speculators are driving up the cost of oil, hurting consumers and potentially damaging the economic recovery. Wall Street profiteering, not oil shortages, is the cause of the price spike. In fact, U.S. oil production is at its highest level since 2003, and millions of acres have been cleared for additional development.
“We need to take strong action to protect consumers from this speculation. Unfortunately, Republicans have chosen to protect the interests of Wall Street speculators and oil companies instead of the interests of working Americans by obstructing the agencies with the responsibility of enforcing consumer protection laws. They have also repeatedly opposed our efforts to end billions of dollars in outdated taxpayer subsidies for oil companies enjoying record profits.
“We support efforts by the Obama Administration to expand domestic energy resources, including natural gas and renewable sources like wind and solar that create jobs in America and will end our dangerous dependence on foreign energy supplies. This can be achieved because today, the United States currently has more oil and gas rigs at work than the rest of the world combined, and imports of foreign oil have decreased.
“We call on the Republican leadership to act on behalf of American consumers and join our efforts to crack down on speculators who care more about their profits than the price at the pump even if these spikes harm the American consumer and our economy.”
“Independent reports confirm that speculators are driving up the cost of oil, hurting consumers and potentially damaging the economic recovery. Wall Street profiteering, not oil shortages, is the cause of the price spike. In fact, U.S. oil production is at its highest level since 2003, and millions of acres have been cleared for additional development.“We need to take strong action to protect consumers from this speculation. Unfortunately, Republicans have chosen to protect the interests of Wall Street speculators and oil companies instead of the interests of working Americans by obstructing the agencies with the responsibility of enforcing consumer protection laws. They have also repeatedly opposed our efforts to end billions of dollars in outdated taxpayer subsidies for oil companies enjoying record profits.
“We support efforts by the Obama Administration to expand domestic energy resources, including natural gas and renewable sources like wind and solar that create jobs in America and will end our dangerous dependence on foreign energy supplies. This can be achieved because today, the United States currently has more oil and gas rigs at work than the rest of the world combined, and imports of foreign oil have decreased.
“We call on the Republican leadership to act on behalf of American consumers and join our efforts to crack down on speculators who care more about their profits than the price at the pump even if these spikes harm the American consumer and our economy.”
