$9 Gallon Gasoline Will Crash World Economies If WW3 Starts: Greg Hunter

[Guest ArmyVeteran37214]

[peejman]

Gas already is nearly $9/gallon in many places in Europe. We enjoy relatively low prices here.

[Defender]

Gas already is nearly $9/gallon in many places in Europe. We enjoy relatively low prices here.

...or at least we did pre-Obama...what was it ? $1.79 a gallon then? And now well over $3.00 a gallon? How's that hope and change working out for ya?

Edited January 10, 2012 by barewoolf

[daddyo]

The thought of $200 + to fill up my truck brings tears to my eyes.

[Guest bkelm18]

...or at least we did pre-Obama...what was it ? $1.70 a gallon then? And now well over $3.00 a gallon? How's that hope and change working out for ya?

I haven't seen $1.70/gal gas since about 2005...

[E4 No More]

...or at least we did pre-Obama...what was it ? $1.70 a gallon then? And now well over $3.00 a gallon? How's that hope and change working out for ya?

Oblama hoped to change the amount we pay for everything and got his wish.

[laktrash]

I can remember .19 gal. when Blount county had "gas wars" cigerettes were about the same price. This was in the '60's . I can easily remember reg and diesel being .99 in the '90's.

[TM01]

One of the perks that goes along with the dollar being the world currency is getting lower prices on oil purchases. Once the dollar gets dropped as the world currency we will fall into line with the rest of the world and what they pay for oil and see a huge increase in the price of gasoline.

[Guest db99wj]

Doesn't this argument come along every couple of years.

[peejman]

...or at least we did pre-Obama...what was it ? $1.70 a gallon then? And now well over $3.00 a gallon? How's that hope and change working out for ya?

Based on the chart below, it would seem that fuel prices were unusually low through the 90's and have simply corrected. It's foolish to think our administration has any influence on gas prices. As the world's primary consumer, you 'd think we have some control, but the guys who own the wells hold all the cards.

InflationData: Gasoline Inflation

Gas Price Historical Price Charts - GasBuddy.com Average&city2=&city3=&crude=n&tme=72&units=us

Gasoline Price History

[TMF]

Based on the chart below, it would seem that fuel prices were unusually low through the 90's and have simply corrected. It's foolish to think our administration has any influence on gas prices. As the world's primary consumer, you 'd think we have some control, but the guys who own the wells hold all the cards.

InflationData: Gasoline Inflation

Gas Price Historical Price Charts - GasBuddy.com Average&city2=&city3=&crude=n&tme=72&units=us

Gasoline Price History

Pffft.... just facts.

[Handsome Rob]

[h=1]$9 Gallon Gasoline Will Crash World Economies If WW3 Starts[/h]Isn't the bigger issue, surely, that we'd be in the middle of WW3?

Everyone's at war with everyone else! Who gives a flying expletive how much gas costs!

[mcurrier]

I haven't seen $1.70/gal gas since about 2005...

You must have Rip Van Winkle'd on us from 2006 to 2009 then. It was $1.62 on Jan 1, 2009.

Chart of the Day: National Gasoline Prices | The Big Picture

[mcurrier]

It's foolish to think our administration has any influence on gas prices. As the world's primary consumer, you 'd think we have some control, but the guys who own the wells hold all the cards.

When a regime, or administration as you call it, restricts all drilling, binds other forms of energy, and stonewalls pipelines, it can only help those middle eastern oil producing nations stick it to us with higher prices. When someone is elected to replace the current tyrant, energy prices will relax if that person is domestic energy friendly and loosens up a lot of these agenda driven restrictions on domestic energy production. Price benefits aside, domestic energy is a job creator and a national security interest. Our entire economy and military readiness is dependent on petroleum energy in this century.

[Guest 6.8 AR]

My first tank of gas was at .249/gal in 1970. $4.00 to fill the tank.

[Guest bkelm18]

You must have Rip Van Winkle'd on us from 2006 to 2009 then. It was $1.62 on Jan 1, 2009.

Chart of the Day: National Gasoline Prices | The Big Picture

That's a national average. I certainly don't remember seeing it under $2 since I left South Carolina about summer of '05.

[E4 No More]

It's foolish to think our administration has any influence on gas prices. As the world's primary consumer, you 'd think we have some control, but the guys who own the wells hold all the cards.

Umm, don't "we" own enough oil to put the Arabs to shame, but do not use it because of the interference of the government? And wasn't it the oil companies that decided that it's easier/cheaper to use someone else's oil and ship it here rather than to use our own?

[kwe45919]

Umm, don't "we" own enough oil to put the Arabs to shame, but do not use it because of the interference of the government? And wasn't it the oil companies that decided that it's easier/cheaper to use someone else's oil and ship it here rather than to use our own?

Something like that though the U.S. oil refineries are at fault IMO. From what I understand, we could refine more of our own oil/gas products and produce the jobs the country needs but because of legislation and world trade, we are restricted to the ammount we can refine on our own. Besides if we didn't purchase the ammount of oil from these nations, another nation would and that my friends would cause WW3 to start. Why?? Well, don't we buy it anyways just to keep other countries FROM buying it.....kinda like the kids game of "keep away".....you can't have it cuz we do!!

[kieefer]

Based on the chart below, it would seem that fuel prices were unusually low through the 90's and have simply corrected. It's foolish to think our administration has any influence on gas prices. As the world's primary consumer, you 'd think we have some control, but the guys who own the wells hold all the cards.

Not foolish at all.

Perhaps if we were pumping our own and not involved in world markets. Maybe if the gov. didn't have so many taxes and regulations from the EPA and several other gov agencies getting their share of the pie we might could blame the owners.

Maybe finding the chart that shows how much in taxes we pay per gallon would also be a good addition.

Did I just reiterate what mcurrier said ?

Tension between Iran and Western powers over Iran's nuclear program also has helped keep crude above $100. The U.S. has recently enacted new sanctions targeting Iran's central bank and its ability to sell petroleum abroad, and Europe is planning to restrict oil imports from Iran.

Iran has threatened to close the key Strait of Hormuz at the mouth of the Persian Gulf if the country's oil exports are undermined by U.S. or European sanctions.

Protests and a national strike in Nigeria over soaring fuel prices and government corruption also contributed to higher crude prices. Nigeria produces about 2.4 million barrels of oil a day and remains a top crude supplier to the U.S.

While Nigeria's oil production appeared to be continuing, unions representing oil workers also have pledged to strike.

A 6 percent annual rise in oil imports by China was another bullish factor for crude.

``Because China has recently much reduced its imports from Iran due to disputes over payment, the country will need to source its demand elsewhere, which could drive prices further upward,'' said a report from Commerzbank in Frankfurt.

Oil rises to near $103 on Iran tensions, China - The Economic Times

[E4 No More]

Something like that though the U.S. oil refineries are at fault IMO. From what I understand, we could refine more of our own oil/gas products and produce the jobs the country needs but because of legislation and world trade, we are restricted to the ammount we can refine on our own. Besides if we didn't purchase the ammount of oil from these nations, another nation would and that my friends would cause WW3 to start. Why?? Well, don't we buy it anyways just to keep other countries FROM buying it.....kinda like the kids game of "keep away".....you can't have it cuz we do!!

I could be wrong, but it's my understanding that part of the problem is old refineries, and that no one wants to build new ones because it takes 50 years for it to pay for itself, and no one thinks we'll be burning gas in 50 years. I think that's BS because we heard that line of BS in the 70's.

[Guest 6.8 AR]

Government is directly responsible for the increased cost of most goods in this country. Take the cost of

regulatory demands and taxation. I think some have no idea what that cost adds up to.

[Guest nicemac]

I could be wrong, but it's my understanding that part of the problem is old refineries, and that no one wants to build new ones because it takes 50 years for it to pay for itself…

Yes, the problem is old refineries, but the reason new ones are not built is not because they take 50 years to turn a profit. The reason they can't get built is that the environmentalists/ NIMBY crowd prevent it.

[Guest 6.8 AR]

When your own government is doing everything it can to kill jobs, stop pipelines, declare oil rich areas

"antiquities" and do that stupid thing called ethanol that only raised food costs and had to be subsidized

to boot, our dependency on foreign oil is directly related to government regulation and not the "evil"

companies. The tax alone, on a gallon of gas, is ridiculous.

Yeh, it is easy to blame this one on government regulations.

[JPR1959]

The last major refinery was built in 1977. There is a group that has been trying to get one built in Arizona (I think) for over 15 years. The plans and site are all approved, yet environmentalist won't allow it to be completed. Our existing refineries might be "old", but are not lacking in modern technology needed to run the plants at maximum efficiency. The amount of available crude in the US would stagger the average citizen. We don't pump it for mainly because of the environmental movement. We have the largest coal reserves, but can't mine it. We can't build anymore dams because it might hurt a fish. We can't build any more nuclear plants because it raises the temperature of the rivers damaging fishing. Basically, we're screwed!!!

[kieefer]

Here you go, imagine .40 cents off a gallon of fuel?

http://www.commonsensejunction.com/notes/gas-tax-rate.html

But there's more - Policy Issues