Political & Elections

Gas is 8cents lower since last week, mid Ore. Maybe BP's refinery is now running fullout where this spring it was shutdown. It is a relief to finally be below $4 after 6months.

Had to replace a Honda engine at 80K. Used engine + labor $2K. 

Each of us have our own buyer's decision. Our decision was based on longterm expections and thus we also replaced windows, added home insulation, upgraded heating. Your expectations are expected to be different. Cost of a replacement battery is relatively expensive, but as yet unquantified. The 97 Camry has 200k+ miles and going strong but it has had a transmission rebuild earlier. Toyota is planning to move hybrid manufacturing to USA-more jobs but the economics of yen-dollar and USA labor advantages are forcing Toyota to move assembly and parts manufacturing. 

And again I reiterate I want to see higher energy prices. It will get the Government out of the market and let market forces dictate where business should allocated their resources. If you want to use coal as a fuel, pray that oil and gas goes up and not because of MR's interference. If you want USA to become energy independent, pray that fuel goes up so that energy companies can make $$ and conservation becomes an attractive alternative to consumption. 

I voted for Ron Paul.

You are probably correct winchester.

I have to admit, I still have problems wrapping my head around him saying that because of unemployment this is why the gas prices are higher. That is not how it works. Higher employment would equal more demand and thus the price would increase. Lower employment would equate to less spending, and lower demand. If you are unemployed you aren't running out to the movies or for dinner, hence, spending less on gas since you aren't driving to the mall every Sat. and going out for Chinese food on Thursday night.

When checkbooks tighten like they have over the past 4 yrs., consumers do it all in one trip to save gas. For example: Go to church on Sunday a.m. Church is 10 miles a way, Lowes is 3 miles further out and the grocery store is in between the two of these places. Instead of doing the Lowe's and grocery store on other days, they combine it all together for Sunday.

Again, maybe just me, I don't own a Prius. I do get 33 mpg for my Pontiac, and even today I have to take DS to school and the grocery store, which is on the route to his school. I am not going to drive to store, and than go back out again to take him to school. I will wait and do it in one trip.

In NoVA we have what is called SLUG lines, basically legalized hitch-hiking for mass transportation re: HOV. The fact that when gas prices go up, there are fewer drivers to pick up slugs illustrates how many are doing exactly what I just described. They will let someone pick up the gas tab.

Again, to sit here and say prices went up because of the unemployment rate as Obama stated last week is wrong when you talk about supply and demand. It just isn't the way it works. Demand did not go up when people are pinching pennies, it went down. In PBO's scenario prices should have dropped drastically due to the demand. It didn't because of the fact that he fulfilled his promise of drilling to the left, and now we are all paying the price for that promise. Of course, he may pay the ultimate price of losing a 2nd term.

Remember gas prices are just the tip of the iceberg. Food prices are where we are at because they also take a hit. Products like, Milk, bread, eggs, meat are trucked to us...citizens may have purchased a more efficient car, but trucks to get Milk, Bread, eggs, etc. are still gas guzzlers and that cost is pushed off to us as consumers. Schools in our area have stopped some after school buses. Seriously, if the bus has to turn left out of the HS, there is no after school bus, turns right there is a bus. Wonder why one of the reasons the PO is in the red and want to reduce to 5 days a week mail service...how much do you think it costs to deliver mail regarding gas prices? Granted, the USPS is bloated regarding administration costs, but still gas prices are a factor.

Nothing Obama said makes sense regarding why gas prices are higher now since he took office.

Personally, I want to have gas above $4.- our Prius gets closer to the breakeven point compared to a standard Camry's cost to own.

High fuel costs makes oil from Canada sensible and for building a pipeline, unless US domestic crude becomes plentiful enough to make even Canadian high cost crude inefficent. High fuel costs make alternative energy programs more cost effective. High fuel costs makes USA fuel relatively cheap to what our economic competitors must pay for that energy. 

When that good Republican Lincoln said that we should have a intercontinental railroad, Congress said OK, but you must build inorder to get the land grants. Failure to build, ment no money or land. Homesteaders had to develop a portion of land within 2 years or lose the grant. Land mineral rights had to be developed or be re-issued for claim.

I think you will find that the exploratory companies rather risk their money and OPM's,  redrilling their old wells or on rights that have proven reserves but until now unextractable, using fracturing and horizontal drill technology. Why drill in deep water when there are enormnous chances and costs. If you want drilling on leases, let oil prices float rather than to use the national reserves that many politicians were clamoring for in early 2012. Our local water association says that we will give you a water right for $M and charge you monthly for that right whether you use any water-And if you do not hook to the system within 5 years, we will re-issue that water share to someone else. 

The more MR speaks, I see more socialism and market distortions. 

The Prize, Daniel Yerkin, describes the rises and falls of oil. 

Gold, Barnard Bernstein, describes the rise and falls of gold. Queen Isabela and Ferdinand went looking for gold because gold was scarce and valuable but too much of the stuff eventually broke Spain's wealth. 

Export coal, iron ore, oil, and other commodities have fallen dramatically this year. Because there is more of it? or because there is less demand? Either way, this and the next President should keep his fingers out of the markets other than to shape long term goals. MR sounds like he would like to interfere with demand where BushW wanted to fiddle with supply. If you would look at some figures, one may find that the total miles driven is fairly level but the average fuel efficiency of the vehicle has gone up dramatically. 

Additional state and local taxes, plus market forces.  

Gas locally here ranges from $4.79 to $5.39.  I am sitting across from a 76 Station in Santa Monica where the sign says 5.39 unleaded, but goes up to 5.69 for Supreme.