What is up with the gas price

I was just kidding but it does make good sense. he just got one of his biggest indorsements a few days ago and fuel was 1.96 the day bush left office and haven't been bellow 2.50$ since Obama took office, supply and demand has nothing to do with it since unemployment keeps climbing so people can't afford 4$+ fuel and the BP oil spill is fixed and foreign countries have to have us buying fuel so they don't bankrupt so they can't hike there prices by this much or well buy from someone else or drill here, who knows why it's up that's my take

 

From what I have read the US gets about 7% of its oil from the middle east, we get most of our oil from Canada and Mexico.

 

if that's true then we would hopefully buy from someone else to keep from putting this fuel burden on 300 million plus Americans, or drill here

 

FTFY

 

they used to tell us the reason fuel is so high is because the unrest in the Middle East right? I just found out a oil rig caught fire in California is why it's so high there

 

Also don't forget the Federal Reserve has been inflating the money supply like crazy. Central banks all over the world are doing the same. The money supply continues to increase and the overall amount of goods and services that the economy is producing is not as much as the increase in the money supply, so prices go up and they are going to continue to go up. There are more dollars chasing the same amount or less of goods, so prices are going to go up. Last month the Fed announced QE3, more money printed from nothing for an unidentified amount of time. Expect more and more inflation.

 

It's a global market.

WE don't buy most of our oil from the ME, but when there is instability there, it reduces supplies available to those who do.
That means that those customers begin looking for alternatives... the people that we buy from.

Venezuela is also having an election and Chavez is not looking good... depending on who replaces him, it can make a big difference in the global oil market.
He could dump a shitload of oil on the market and drive the price down to $50, or he could throttle back and drive it to $120.

 

your exactly right, sucks

 

kalifornia's problem is two-pronged: 1) a refinery failure and pipeline fire, and 2) kalifornia's regulations for their "fuel" blends and "when" refineries can "switch" over to the winter blend.... so, if you fire your plant back up, why would you make a batch of "summer" fuel that is state-mandated to switch over to "winter" in less than month before the deadline, meaning by the time it makes it to market, you won't be able to sell it?... see more here, look like moonbeam finally did the right thing and will allow refiners to make the switch sooner, thus allowing the fuel supply to creep back up...

http://www.bloomberg.com/news/2012-10-07/california-governor-orders-winter-gas-switch.html

 

Chavez won BTW

 

In California it is as some have said. There is a refinery that is off line because of a fire plus they had to stop a pipeline because of some contamination. Plus, the state can't import gas from the other states because of the required additives that aren't present in the neighboring state's gasoline.

Plus, because of the temporary but rapid price shock, some gas stations refused to buy more at the higher prices, fearing they'd be stuck with high priced inventory and being forced into selling at a lower price. Everything combined so now there is a shortage.

Governor Brown just asked CARB to temporarily bypass the law until supply is reestablished. They expect prices to come down by next week.
http://www.smdailyjournal.com/artic...move to bring down soaring gas prices&eddate=

Too bad he didn't move sooner. I could see the price spikes starting on Thursday.

 

My fault. I raised the gas prices. Bahahahhahaha dance my puppets.