CNBC reporting $4 gas to be a reality

skytop · 08-31-2005, 10:45 AM

CNBC is now reporting that due to unprecidented gasoline supply shortages, refinery damage and delays due to Katrina, price spikes in fuel prices are assured. $4 a gallon gas is what is expected according to the reporter.

This is going to seriously hurt a lot of people, both driving trucks and cars. The repercussions across the economy are going to be felt as people won't have disposable $$$ to buy or drive to stores.

VShortt · 08-31-2005, 10:56 AM

Can you post the link?

skytop · 08-31-2005, 11:06 AM

I am getting this information by watching CNBC on TV. The gas shortage with record US depleted gas inventories and off line pipeline and refinery facilities are all CNBC reporters are talking about. This is not an oil company maneuver.... This is a very SERIOUS problem for the US people and the US economy. Issues are compounding. This storm has come at a bad time and is exploiting the very vulnerable fuel supply problem this country is suffering with.

For the past 30 years after the 1973 "oil crisis", I have watched administration after administration talk the talk but not walk the walk when it came to creating alternative fuel sources and reinvigorating US oil production. For the number 1 power in the world, this country is on its knees looking for every drop of precious oil. Everything is coming together now to exacerbate a very weak oil supply/refinery condition. I hope the government finally wakes up and gets a substantive plan in action on many fronts to deal with this very important problem.

Yomama · 08-31-2005, 11:12 AM

http://money.cnn.com/2005/08/31/news...ex.htm?cnn=yes

skytop · 08-31-2005, 11:17 AM

Here are a few key CNBC MSNBC business stories of today that will give a good sense of what is being discussed:

http://www.msnbc.msn.com/id/9132279/

http://www.msnbc.msn.com/id/9118331/

http://www.msnbc.msn.com/id/9145021/

http://www.msnbc.msn.com/id/9113759/

afplayboy18 · 08-31-2005, 11:17 AM

Quote:

Originally Posted by Yomama

http://money.cnn.com/2005/08/31/news...ex.htm?cnn=yes

wow...$0.68 a gallon in Kuwait City...maybe i need to relocate

Yomama · 08-31-2005, 11:19 AM

Quote:

Originally Posted by afplayboy18

wow...$0.68 a gallon in Kuwait City...maybe i need to relocate

That is nothing, in Venzuala (sp) you can FILL your tank for UNDER $2

skytop · 08-31-2005, 11:19 AM

Yomama:
Thanks for the quintessential article. It says it all.

Can you imagine paying well over $100. to fill up your Titan...maybe twice a week if you really have to drive? That's $800. a month!!!!!!!!!!!

kartman · 08-31-2005, 11:29 AM

Stories like that only cause panic buying, shortages and price spikes. If the just shut the hell up it would not be such a problem.

themays · 08-31-2005, 11:37 AM

Quote:

Originally Posted by kartman

Stories like that only cause panic buying, shortages and price spikes. If the just shut the hell up it would not be such a problem.

Unfortunately, with or without that story the prices will be going up. Skytop said it best about one administration after another doing nothing to stop our dependance on oil. Only lately has the "bio diesel" option become publicised. As far as I'm concerned I will be trading my Titan in for ANY diesel as soon as I can "break even". At .10 to .20 per gal. to make the "used vegetable oil" go-go juice I can't wait for a diesel. At least it is a better option than $4 and possibly higher. My $.02

skytop · 08-31-2005, 11:38 AM

Dartman:
Putting your head in a hole in the ground is not going to improve the situation or help you understand the gravity of the situation. This is not a myth. It may appear as a nightmare but it is very real.

I would also suggest that members of this board consider making a donation to the American Red Cross or your choice of charity to help out our fellow Americans in severe need.
Link to Red Cross Donation:
http://www.redcross.org/donate/donate.html

kartman · 08-31-2005, 11:49 AM

I know its a reality. My point was typical media retards playing up the doomsday angle for ratings causes further hikes and longer lines. I have seen many times before.

Elbo · 08-31-2005, 11:53 AM

It seems to be that regardless of production problems, as long as those that push the products, see that the American public keeps buying, the prices will never come down that much. I think the prices are based on 25% reality, and 75% BS to see how much consumers will bend over.

But on the bright side, I think it will start getting rid of lots of posers, when it comes to Truck and SUV ownership. I'll stick it out until we hit about $15 a gallon.

**P's Titan** · 08-31-2005, 11:57 AM

I don't think we will see $4 a gallon. If we do people will drive less or drive the same and cut back drasticlly on everything else which will in turn kill the economy. I'm not worried to much about it, if it does get that high I will for damn sure not be spending my money on the "nicer things" like I like to do.

themays · 08-31-2005, 11:57 AM

Quote:

Originally Posted by kartman

I know its a reality. My point was typical media retards playing up the doomsday angle for ratings causes further hikes and longer lines. I have seen many times before.

As far as gas prices are concerned, if they played the "everything's just fine angle" or the "prices are stable angle" they would be considered unreliable. When it comes to other news items I agree w/ you, the media does tend to push for ratings at any cost. But in regards to gas prices I believe they are just airing the information that at this point in our world is inevitable.