Gasoline Prices are literally scaring me

[Danospano]

Is anyone else freaking out about gasoline prices? I've heard that the price has risen 40% since August 2004.

Now, I don't use as much as some people, but I'm starting to worry about the consequences if it rises any further. Realizing that all prices will steadily sky-rocket as a result, I'm wondering how our economy will survive?

Any words of calm?

 

[80sU2isBest]

You know what makes it worse in my city? My city voted to pay for a new NFL stadium, and yet have voted down public transportation no less than 3 times. We are the biggest US city that doesn't have public transportation.

 

[joyfulgirl]

Although high for us in the U.S., they're still significantly lower than in many other places, such as Europe where prices are nearly double what they are here. So the selfish side of me wants to complain but the bigger picture is that I wouldn't actually mind if prices went even higher if it meant Americans would buy smaller fuel efficient cars--and I say that as someone who drives a lot of long distances and noted the increase quite a bit when I drove to LA recently. But fuel efficiency is about much more than American wallets (gasp!).

 

[unosdostres14]

My dad is a scientist at an oil company so the higher prices go up the better for us.

 

[U2democrat]

Yeah...the gas prices are worrying me too. The other day my mom paid $37 and she has a Ford Taurus, not an SUV.

 

[Irvine511]

makes me glad i don't own a car.

 

[u2bonogirl]

Didnt cost me a thing to walk to work this morning!
But my Mr.bonogirls commute kicks him in the ass as far as gas goes
When we do get me a car I hope its something that sips gas slowly

 

[Liesje]

makes me glad i don't own a car.

Exactly. To me it doesn't really matter. I'm thankful I've been able to manage schooling, housing, my job, and my social life around NOT having a car, so when I do have access to borrow one, it's awesome, and when I don't, oh well. I guess it sucks for those who will have to adjust, but such is life and the depletion of resources. And for as much as I hear people complaining about gas, it seems like every day there's MORE SUVs on the road and more families are purchasing their second, third, or fourth vehicles....

 

[80sU2isBest]

Exactly. To me it doesn't really matter. I'm thankful I've been able to manage schooling, housing, my job, and my social life around NOT having a car, so when I do have access to borrow one, it's awesome, and when I don't, oh well. I guess it sucks for those who will have to adjust, but such is life and the depletion of resources. And for as much as I hear people complaining about gas, it seems like every day there's MORE SUVs on the road and more families are purchasing their second, third, or fourth vehicles....

If you lived in my city, you'd have to have a car. There is no public transportation.

 

[VertigoGal]

And for as much as I hear people complaining about gas, it seems like every day there's MORE SUVs on the road and more families are purchasing their second, third, or fourth vehicles....

Yeah. Apparently rising gas prices haven't affected trends in SUV sales at all.

I can't wait to live in a city that has decent public transportation and actual buildings within walking distance. In the burbs it's just unrealistic not having a car, unfortunately.

 

[randhail]

I love my Xterra. It may not be the best on gas mileage but given my hobbies, I need an SUV. I ski so I need the 4 wheel drive in winter, it holds my mountain bike, and hopefully soon a kayak

I do agree that many people drive them just for looks and something needs to be done to improve mileage. When the time comes to buy a new car, I'm hoping there will be more hybrids out on the market.

 

[nbcrusader]

It may keep getting worse. With China's growing appetite for oil, it is unlikely that suppliers like Saudia Arabia can keep their current levels of production for an extended period of time.

 

[melon]

Want to lower gas prices right away? Force those who "buy" oil to physically pick it up and take it. No refunds. You'll watch the speculators flee and the gas prices go down dramatically.

Thankfully, my car only has a capacity for 14 gallons of gas, so even if gas goes up to $3.00 a gallon, the most I'll pay is $34.00. It's still pretty crappy.

Melon

 

[80sU2isBest]

Want to lower gas prices right away? Force those who "buy" oil to physically pick it up and take it. No refunds. You'll watch the speculators flee and the gas prices go down dramatically.

I don't know much about the business. What do you mean?

 

[melon]

I don't know much about the business. What do you mean?

Oil is treated like the stock market, so people can buy or sell "futures" without ever having to buy oil. Even you, if you wanted to, could "buy" crude oil and then once the prices got higher, "sell" it and reap in the profits.

There are lots of people making a shit load of money off of oil right now at our expense.

Melon

 

[Liesje]

If you lived in my city, you'd have to have a car. There is no public transportation.

Maybe not. We have public transportation (buses, no trains which is rediculous w/ a metro area w/ over 1 million) and I've never had to use it. In high school, I worked out my own car pools and paid neighborhood kids for rides. In college, I purposely found a place to rent within 15 minutes walking distance from work, also I chose a more family type neighborhood where I felt safe walking farther distances (it takes me an hour to walk to the grocery store and/or bank and back).


The thing with people having this need for cars is that it seems to start early, like in high school. Most kids at my school and a lot of my friends had this attitude that they were entitled to their own car once they got a lisence. They were all well off so their parents would buy them cars. My parents have only ever own one vehicle at a time so I never had access to a car and I never felt like it was my place to assume that I did. For school and sports, I arranged my own rides. For going out, I would pay gas money.


I actually do have a car right now b/c my boyfriend recently took over paying for his mom's car, but then he got a seizure disorder so now I drive him around. I don't really feel any attachment to this car and unless it's raining or deathly hot out, otherwise I still prefer to walk. Having to make car payments, insurance payments, and gas payments just to save me 5-10 minutes is rediculous.

 

[BVS]

You know what makes it worse in my city? My city voted to pay for a new NFL stadium, and yet have voted down public transportation no less than 3 times. We are the biggest US city that doesn't have public transportation.

Don't you live in the D/FW area? They have some public transportation, it sucks, but they do have some. Have they voted to stop expanding it?

 

[80sU2isBest]

Don't you live in the D/FW area? They have some public transportation, it sucks, but they do have some. Have they voted to stop expanding it?

Arlington has none. 350,000 people and no public transportation.

 

[financeguy]

How many America cities have a Metro/subway and or light rail type system as a matter of interest?

NY & San Fran I know do but do any others?

 

[financeguy]

Arlington has none. 350,000 people and no public transportation.

Don't take this personally but if you vote Republican what do you expect.....

 

[80sU2isBest]

Don't take this personally but if you vote Republican what do you expect.....

Dude, every member of my family is Republican. And all three of us whom I know how they voted voted in favor of public transportation.

 

[Liesje]

How many America cities have a Metro/subway and or light rail type system as a matter of interest?

NY & San Fran I know do but do any others?

Washington DC, Chicago, SEPTA (Philly), Harris County (Houston), Miami-Dade....

I use the South Shore Line a LOT which runs from South Bend, Indiana to Randolph St. in Chicago. In Michigan, we also have Amway that goes down to Chicago and up to Toronto and lots of other places, but it's more of a "trip" kind of thing and can get really expensive.

 

[financeguy]

Dude, every member of my family is Republican. And all three of us whom I know how they voted voted in favor of public transportation.

Ok so they actually polled the electorate. I was assuming it was just a poll of elected politicians or something like that.

 

[Irvine511]

Washington DC, Chicago, SEPTA (Philly), Harris County (Houston), Miami-Dade....

I use the South Shore Line a LOT which runs from South Bend, Indiana to Randolph St. in Chicago.

also Portland, OR, which is a very green city and very friendly to bicycles; believe it or not, there's some in L.A. as well; Baltimore has light rail, so does Atlanta.

the problem with most of these cities is that, NYC and Boston and DC aside, the light rail is essentially designed not for commuters but for tourists.

 

[financeguy]

Washington DC, Chicago, SEPTA (Philly), Harris County (Houston), Miami-Dade....

I use the South Shore Line a LOT which runs from South Bend, Indiana to Randolph St. in Chicago. In Michigan, we also have Amway that goes down to Chicago and up to Toronto and lots of other places, but it's more of a "trip" kind of thing and can get really expensive.

Thanks. Yeah I knew about Amway. I would like to do that trip some day.

 

[80sU2isBest]

Ok so they actually polled the electorate. I was assuming it was just a poll of elected politicians or something like that.

It would have raised our sales tax rate, so they pretty much had to let us vote.

3 times this city voted no.

3 TIMES.

AARGH.

 

[nbcrusader]

Oil is treated like the stock market, so people can buy or sell "futures" without ever having to buy oil. Even you, if you wanted to, could "buy" crude oil and then once the prices got higher, "sell" it and reap in the profits.

There are lots of people making a shit load of money off of oil right now at our expense.

Melon

Derivatives have little to do with oil itself. Good ol' supply and demand drive the actual oil prices.

However, the use of these financial tools actual stabalize prices on a world wide basis.

People do make a shitload of money, and people lose a shitload of money.

Our days of cheap gas are long gone.

 

[VertigoGal]

also Portland, OR, which is a very green city and very friendly to bicycles; believe it or not, there's some in L.A. as well; Baltimore has light rail, so does Atlanta.

the problem with most of these cities is that, NYC and Boston and DC aside, the light rail is essentially designed not for commuters but for tourists.

yeah, we live outside of the city and there's absolutely nothing. my friend and I walked to the video store one day, and it was a harrowing experience..we nearly got run over everytime a car passed (usually going 60+). there aren't even sidewalks! my mom works in the city and she has to drive. not to mention anyone who thinks they can walk or ride a bike to places like the bank, grocery store, or mall around here clearly has a death wish.

 

[melon]

Derivatives have little to do with oil itself. Good ol' supply and demand drive the actual oil prices.

Frankly, I don't buy it. Gas prices consistenly go higher over highly irrational events, like over the death of King Fahd, whose successor was the one who was actually ruling over Saudi Arabia over the last ten years!

That tends to show evidence of speculation over actual supply and demand. The oil industry is currently raking in record profits.

Melon

 

[80sU2isBest]

Oil is treated like the stock market, so people can buy or sell "futures" without ever having to buy oil. Even you, if you wanted to, could "buy" crude oil and then once the prices got higher, "sell" it and reap in the profits.

There are lots of people making a shit load of money off of oil right now at our expense.

Melon

Thanks for the explanation.