Oil over $65 barrel and Fox analyst

[yy4me]

says he is not concerned. I damn well am concerned. Where the heck is this government. More war coming, more lies, more death and no
relief for any of us for anything. I am so mad I could scream. Where is the money to come from for all of us to heat our houses this coming winter? Cindy is doing great work bringing the dope in Texas to task, but there are other things to be addressed too. I think I have lived too long, all this can't be happening!

[Goldmund]

1. Welcome to DU

:hi:

This should be in General Discussion, not Latest Breaking News. :)

[RobertSeattle]

5. Or more like..

A couple of YEARS ago this would have been LBN, but with Bush it is just same old same old.

[meegbear]

2. If your making the money a "Fox analyst" makes ...

you wouldn't be concerned either.

[Zinfandel]

3. Not concerned, how much do you figure he makes a year at Fox so...

as not to be "concerned"?

[Roland99]

4. A peak at 87 octane prices around the country:

http://www.newjerseygasprices.com/ $2.19 - $2.67
http://www.atlantagasprices.com/ $2.23 - $2.51
http://www.newyorkgasprices.com/ $2.39 - $2.89
http://www.losangelesgasprices.com/ $2.48 - $3.05
http://www.sanfrangasprices.com/ $2.53 - $3.03
http://www.seattlegasprices.com/ $2.44 - $2.78
http://www.chicagogasprices.com/ $2.27 - $2.95
http://www.denvergasprices.com/ $2.11 - $2.54
http://www.dallasgasprices.com/ $2.23 - $2.69

[Mithras61]

10. From the AAA FuelGage Report for Houston...

Houston-----Regular-----Mid-------Premium----Diesel
Current------$2.302-----$2.436----$2.523-----$2.322
Yesterday---$2.278-----$2.410----$2.497-----$2.316
Month Ago---$2.185-----$2.312----$2.395-----$2.313
Year Ago-----$1.755-----$1.856----$1.923-----$1.712

http://www.fuelgaugereport.com/TXmetro.asp

[AValdoux]

6. Rush said...

... today on his show that gas prices are no where near record numbers. I'm sure he had some twisted number logic for this, but I'm almost choked on my drink when I heard this.

He went on to say that all the economic indicators show a booming economy. He brought up the bad poll numbers for Bush. He explained if the public could be misinformed about how good the economy was going, then it makes sense that we are also misinformed by Iraq. Bush's low numbers are because we are misinformed.


AValdoux

[Coastie for Truth]

9. Half right--

INFLATION ADJUSTED gasoline prices are below (but within about 5%) of the early 1980's peak.

But - that's when Chrysler went into Chapter XI (and needed a Federal Loan Guarantee) -- and when even Renault and Citroen were selling well here, and American Motors was on serious life support.

Now, Ford and GM are junk bond rated -- Prius is the hottest thing on the market ....

Gasoline weill stick over $3/gallon and crude will stick over $60/barrel (both with "random walk") Why?

1) Our misguided "American Blood for Middle Eastern Oil" PNAC/Neocon policy has been a total failure.
2) "Peak Oil" - is here, now. (IMHO - and I am in the alternative, renewable, green energy business - and worked on the GM Electric Vehicle).

[Tempest]

7. Gas in my area (Bakersfield) is up 20 cents in the last week

He's not concerned because he's not one of the "little people".


Welcome to DU! :hi:

[shaniqua6392]

8. The economy failing

and high gas prices are the only thing that will get Bushits numbers lower and lower. Sad to say that an occupation of a sovereign nation will not do it, but these high prices affect everyone. During a recent visit to upper Michigan I noticed no more W bumper sticker and heard many of the locals who loved him last year and voted for him are now calling him every name in the book. Business and tourism is their mainstay and there are an awful lot of "VACANCY" signs on the lakefront cottages/motels, etc. The high gas prices lower stock values also. Just be patient, use your car only when necessary, make no extra purchases right now, and drive a little slower. If we all do this, it does make a difference. Making money is all these people know, and that is where our power lies. PATIENCE.

[SillyGoose]

11. That analyst should be damn concerned along with the rest of us.

Higher fuel costs will translate into higher prices for goods and services that are dependent on fuel at some point for the production, delivery or storage phase. Heck, even your neighborhood ice cream man will have to raise his prices to cover the escalating fuel costs.

But leave it to Fox News, cheerleaders in chief, not to mention the negative impact it could have on the working class while the oil companies are raking in record high profits.

:spank:

[gasperc]

12. we've offocoally hit Hersh's pain point

several months ago Seymor Hersh predicted that >$65 barrel would start cousing real pain in the economy and that action with Iran will be moved up to a new level.

What od we have today
oil over $65
Iran removes UN inspection seals
Iran threatens prices

[drbtg1]

13. Here's an idea for the next BIG reality show!

Coming soon to FOX!

Join John Fund, John Harwood, Larry Kudlow, and the unconcerned Fox analyst as they try to figure out how to fill up the gas tank, put food on the table for each of their 2.4 kids, get health insurance, and try to build up equity in their house with their variable-rate interest-only mortgage. All this with only the paychecks they earn with their jobs at Wal-Mart!

You'll laugh! You'll cry! You'll cry some more!

[Strelnikov_]

14. They Are Not Considering The Duration In This 'Analysis'

The 70's events were spikes. The current prices are just the floor on a long term trend. Prices will continue to steadily rise (barring supply disruption) until demand destruction results in demand falling in line with supply.

If you want a depressing read on what is ahead, try this. I think he is on point regarding short-term micro/macroeconomic impacts.

http://321energy.com/editorials/bainerman/bainerman081005.html

One positive (assuming that something not quite negative as everything else is positive) is that I feel we will have food. Many peak oil commentators note the negative impact on food supply. Thing is, agriculture does not consume all that much fossil fuel relative to the other sources of demand. With leadership, we should have enough to at least keep ourselves fed, assuming no breakdown in governance.

[GreenPartyVoter]

15. Welcome :^D