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GasBuddy News Article


Who's to blame for $4 gas
Tuesday, May 20, 2008
CNN Money -- NEW YORK (CNNMoney.com) -- It's hard to imagine now, but in 1999 gasoline sold for 90 cents a gallon. How'd we get from there to $4 a gallon?

There is no short answer - many things happened, and together they formed a chain of events from cheap gas to $100 tankfuls.


Visit CNN Money for full article

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JT
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Message Posted: 5/20/2008 9:05:33 AM  Ignore JT Report Abuse
Tuesday, May 20, 2008
CNN Money -- NEW YORK (CNNMoney.com) -- It's hard to imagine now, but in 1999 gasoline sold for 90 cents a gallon. How'd we get from there to $4 a gallon?

There is no short answer - many things happened, and together they formed a chain of events from cheap gas to $100 tankfuls.

Visit CNN Money for full article
REPLIES (newest first)
lindamay
Veteran Author
Minnesota

Posts:357
Points:111,645
Joined:Feb 2008
Message Posted: 5/31/2008 11:59:08 PM  Ignore lindamay Report Abuse
In the Twin Cities, Superamerica drives the gas prices. We're compensating by refusing to buy gas from them, even when it's lower, and we won't buy convenience items either.
jjohnson90
Rookie Author
Twin Cities

Posts:8
Points:4,085
Joined:May 2008
Message Posted: 5/31/2008 1:14:33 PM  Ignore jjohnson90 Report Abuse
gas stations aren't fixing prices, it's the oil companies.
I work at a superamerica and the only way we are allowed to change the price is to do a "fuel survey" where we drive up and down the corridor and check the prices of all the nearby gas stations. We then send the info to the oil company (Marathon) and they send us a 'price change authorization' back which will say something like
UNL PLU PRE DSL
CURRENT 3.839 3.939 4.039 4.649
NEW 3.829 3.929 4.029 4.699
DEADLINE: 12:00PM 5/31/2008
this price is what we have to sell it for, which includes only 8-15ยข per gallon for the gas station.
REKEY
Rookie Author
South Carolina

Posts:62
Points:28,145
Joined:May 2008
Message Posted: 5/31/2008 9:38:36 AM  Ignore REKEY Report Abuse
BUSH!
LWB_Sr
Sophomore Author
Tennessee

Posts:232
Points:106,765
Joined:Jun 2007
Message Posted: 5/31/2008 9:10:41 AM  Ignore LWB_Sr Report Abuse
Very true, Blame is a game, and solves nothing.
It is worth noting that USA oil reserves, though substantial, are not being utilized because of unfavorable and stupid government restrictions against off-shore development, plus the Polar Bears MUST be protected at all costs, even if eventually humans don't make it!!!!!!!

*****Wake up America*****
*****Are you there, Politician?*****
magnumCA
All-Star Author
Los Angeles

Posts:692
Points:153,310
Joined:Jan 2008
Message Posted: 5/28/2008 4:27:34 PM  Ignore magnumCA Report Abuse
IT is not important about blame we all suffer and PAY
able2ru
Rookie Author
Little Rock

Posts:63
Points:93,865
Joined:Mar 2005
Message Posted: 5/28/2008 11:41:45 AM  Ignore able2ru Report Abuse
My speculation is on the Oil Industry. See if you follow my logic. They report huge profits. Then they state they need those huge profits to invest into new drilling and exploration and equipment. You never hear of new drilling anywhere. You never hear that they are exploring anywhere. You never hear they are adding new equipment anywhere. You say this is a free market, and that may be true, but when you only have two or three marketeers, and they are in cahoots with each other, then you do not really have a free market, you have a monopoly. All the "abondoned" or low production wells and "idled" refineries in this country need to be seized, by eminent domain, and put on line for the people. Open new areas for drilling, but only to those that will sell the oil at 10% less than opec. it may start small at first, but it will slowly start to unravel the greedy oil industry.
Johnnyart
Rookie Author
California

Posts:49
Points:53,160
Joined:Jan 2008
Message Posted: 5/28/2008 2:00:21 AM  Ignore Johnnyart Report Abuse
The Oil Companies, Government, Investors and the Customers... If we buy

it, then Everyone thinks it's okay... Plan and Simple, We Must BOYCOTT!!!

Use Public Transportation! Bus, Train, Subway, etc... It is DAVID

(PEOPLE) VS GALIATH (OIL COMPANY'S/GOVERNMENT)...
figman
Champion Author
Chicago

Posts:7,687
Points:2,047,635
Joined:Sep 2001
Message Posted: 5/23/2008 4:05:06 PM  Ignore figman Report Abuse
SenileOldMan, what is Dennis Lee trying to sell?
letmathe
Champion Author
Chicago

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Points:1,592,770
Joined:May 2001
Message Posted: 5/21/2008 11:37:24 AM  Ignore letmathe Report Abuse
The last is the best hope (the first few things we should have always been doing for safety's sake.)
lparafael
Champion Author
Ventura

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Points:428,700
Joined:Dec 2006
Message Posted: 5/21/2008 9:26:30 AM  Ignore lparafael Report Abuse
We can all try to do many things to somewhat ease the pain. First, we can all try to drive slower - the speed limit isn't that slow. Try to time the lights so you don;t hit as many red lights. We can write our congressmen (and women) and senators to get them to do something - ease up on restrictions for new refineries, incentives for companies who are trying to come up with alternative energy sources.
SenileOldMan
Champion Author
North Carolina

Posts:1,543
Points:572,205
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Message Posted: 5/21/2008 9:23:22 AM  Ignore SenileOldMan Report Abuse
Here's something different to chew on. Detroit is actually against better gas mileage. See this: "George Wiseman from Eagle Research, Canada, says:

"Fuel injection systems are actually designed to prevent efficient
combustion!"

Dennis Lee from Better World Technologies, USA, says:

"The computerized fuel injection system is a gatekeeper that is
designed to prevent aftermarket devices that are designed to improve
fuel economy. If you wonder why Detroit would be involved in that,
unburned fuel eventually wears down engines so they do not last
past the warranty. They call it "planned obsolescence"."

Lou LaPointe from Bright Technologies, USA, calls this planned
behavior "Detroit Fever". He says:

"...they have sabotaged newer car computers with programming to detect
high mileage and then RICHEN the mixture so you cannot maintain high
mileage.
...The problem became known as Detroit Fever. The cause was the anti-
mileage computer programming in new cars...the problem grows worse
every year because they know they can get away with it by selling
horsepower.
...the catalytic converter HIDES the fact of bad Thermal Efficiency
from the car owner...You will be forced to buy a new car sooner. This
situation is a direct violation of the Clean Air Acts passed in recent
years.
...The fact that you are not getting good mileage is not because your
car has but limited economy. It is because your car programming simply
will not allow it.
...whenever you make some mileage-improving change to your engine and/
or to the fuel it is swallowing, your on-board computer will eventually
detect the good MPG change and reverse it. Yes, that is true. Although
it may take a tank or so of gas before the computer figures out what
was done, it will eventually richen the mixture again, effectively
snuffing out any temporary good mileage boost you may have gained..."
RML1
All-Star Author
Chicago

Posts:745
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Message Posted: 5/21/2008 9:23:15 AM  Ignore RML1 Report Abuse
Blame is a game, and never solves any thing.
bbthegun
All-Star Author
San Diego

Posts:610
Points:359,565
Joined:Sep 2006
Message Posted: 5/21/2008 9:22:47 AM  Ignore bbthegun Report Abuse
Okay...I admit it. I am the cause of the $4 gas. It's me.

Isn't this yesterday's news?

"You freakin' people! You have no idea how to defend a nation. All you did was weaken a country today Caffee. Sweat dreams son."
brogan56
Champion Author
Colorado Springs

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Message Posted: 5/21/2008 9:18:54 AM  Ignore brogan56 Report Abuse
Several good comments this morning. Bottom line, there is no ONE answer. It takes creativity and willingness to change from all of us to get past this.
CatbirdWoman
All-Star Author
Ohio

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Joined:Jan 2007
Message Posted: 5/21/2008 9:18:03 AM  Ignore CatbirdWoman Report Abuse
That's just it. That's why I said it's our fault in part, but it's some greed too. I mean if the big oil wasn't making record breaking profits, it would be not so bad, but they are! I mean, it's stupid!
acknot
Veteran Author
Seattle

Posts:354
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Joined:Sep 2003
Message Posted: 5/21/2008 9:16:45 AM  Ignore acknot Report Abuse
All of us contribute in one way or another. Supply and demand, capitalism at its best.
EarlyMoose
Champion Author
Seattle

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Message Posted: 5/21/2008 9:12:39 AM  Ignore EarlyMoose Report Abuse
Thanks mars48.
I'm just trying to keep my money in my pocket. It saves a lot if you can do some work on your car yourself too.
PCz
Champion Author
North Carolina

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Message Posted: 5/21/2008 9:12:19 AM  Ignore PCz Report Abuse
I'm not sure what Pete Townsend has to do with any of this.
chivs
Rookie Author
Albany

Posts:4
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Message Posted: 5/21/2008 9:11:43 AM  Ignore chivs Report Abuse
There is no one factor to blame...we continue to drive over the speed limit, buy huge gas guzzling cars and we pay whatever they charge..the number of people who have reduced their gas consumption is far less than those who just complain and do nothing..
ramshot412
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Riverside

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Message Posted: 5/21/2008 9:09:59 AM  Ignore ramshot412 Report Abuse
Fencemaker-If you buy gas, then it is your fault. You are contributing to demand and the price is a product of demand.

NissanGirl-Fencemaker - some of us can't be without our vehicles. We have to get to work, get groceries (which I need not say are essential), etc... It is just not possible to stop driving all together. Public transport is not readily available in all areas. Not everyone lives in metro areas where they can take the train.

But fencemaker's comment is correct, if you buy gas you are part of the problem. The reason you buy is a different subject.
socalusra
All-Star Author
California

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Message Posted: 5/21/2008 9:09:38 AM  Ignore socalusra Report Abuse
stock market
rbrowdersr
Veteran Author
Detroit

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Message Posted: 5/21/2008 9:08:05 AM  Ignore rbrowdersr Report Abuse
Greedy manipulators.
RoadClosed
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Cleveland

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Message Posted: 5/21/2008 9:07:37 AM  Ignore RoadClosed Report Abuse
OPEC needs competition to bring reality back to oil pricing. Our producers need to pull back on the greed and cut prices. We also need to pull out all the stops to find alternative energy sources to reduce consumption and dependence on oil. Our refiners could also take a look at the big picture and stop wallowing in their obscene profits while everyone else suffers.
MetroSexual
Champion Author
New Hampshire

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Message Posted: 5/21/2008 9:04:53 AM  Ignore MetroSexual Report Abuse
Mooseman1: That is a good article and shows there are other, better alternatives. Problem is that the garbage lobby doesn't have the power of the farm lobbies.

We cannot win this until we get rid of the stagnant, decaying, corrupt political system.
rjn5851
Champion Author
Florida

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Message Posted: 5/21/2008 9:04:09 AM  Ignore rjn5851 Report Abuse
arabs..................
Zacchaeus
Rookie Author
Missouri

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Message Posted: 5/21/2008 9:04:01 AM  Ignore Zacchaeus Report Abuse
Come on guys/gals .... it's the dude on the top floor of the CBT doing the price runup.

Talk to your favorite market trader. If they all shorted the oil futures we would see much lower crude.

Zac
uksqueeze
All-Star Author
San Jose

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Message Posted: 5/21/2008 9:03:43 AM  Ignore uksqueeze Report Abuse
Us.
flyfast
All-Star Author
Kansas City

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Message Posted: 5/21/2008 9:02:22 AM  Ignore flyfast Report Abuse
GOV.
mars48
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New Hampshire

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Message Posted: 5/21/2008 9:02:01 AM  Ignore mars48 Report Abuse
Great comment, Mooseman. What can WE do?
How about - slow down. You don't need to buy a hybrid. Engineers increased mileage by over 20% in regular assembly line vehicles, just by slowing down. And they were not doing 20 mph, but the speed limits, or just a bit under. Try it! I'm telling you, you'll own the right lane - while everyone else fights for position in the left lane.
Smarty_Pants
Sophomore Author
Fort Worth

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Message Posted: 5/21/2008 8:57:43 AM  Ignore Smarty_Pants Report Abuse
Alternative fuel research is one thing, developing the infastructure is something else. Nitrogen fuel cells are doable, but the infastructure will drive the cost beyond the feasability.
cg862003
Rookie Author
San Antonio

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Message Posted: 5/21/2008 8:56:53 AM  Ignore cg862003 Report Abuse
We need to build new refineries and start using or oil as well as develop alternative means. I do not like watching national news programs and economist say we need to increase the gas tax. That really upsests me.
Gerund1
All-Star Author
Toronto

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Message Posted: 5/21/2008 8:56:22 AM  Ignore Gerund1 Report Abuse
There is so much blame that can be passed along it would take a short book to list them.
AlaRedNeck
All-Star Author
Kansas

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Message Posted: 5/21/2008 8:55:03 AM  Ignore AlaRedNeck Report Abuse
The ONLY answer is alternative fuels. Oil is going to run out sooner or later, it isn't renewable. If we'd spend HALF of the $700+ million a month that we are spending in Iraq on alternatice fuel research we'd all be oil free in a couple of years.
Smarty_Pants
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Fort Worth

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Message Posted: 5/21/2008 8:53:50 AM  Ignore Smarty_Pants Report Abuse
Oil Tycoon, My Wallet He's a Pickin......clean that is.
NissanGirl
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Oregon

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Message Posted: 5/21/2008 8:52:30 AM  Ignore NissanGirl Report Abuse
Fencemaker - some of us can't be without our vehicles. We have to get to work, get groceries (which I need not say are essential), etc... It is just not possible to stop driving all together. Public transport is not readily available in all areas. Not everyone lives in metro areas where they can take the train.
Mooseman1
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Manitoba

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Message Posted: 5/21/2008 8:52:13 AM  Ignore Mooseman1 Report Abuse
Instead of blaming let's turn it into, "what can we do about it". Garbage ethanol is a win-win alternative.

Ethanol from garbage

[Edited by: Mooseman1 at 5/21/2008 10:54:05 AM EST]
AlaRedNeck
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Kansas

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Message Posted: 5/21/2008 8:52:09 AM  Ignore AlaRedNeck Report Abuse
"Oil jumped Tuesday after oil tycoon T. Boone Pickens predicted that the commodity would hit $150 a barrel by the end of the year. Pickens told CNBC Tuesday that the surge in price is a legitimate consequence of an imbalance between supply and demand and that producers are "running out of oil."

Yeah right, what else is an oilman going to say and who is going to believe it?
NavyEOD
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Los Angeles

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Message Posted: 5/21/2008 8:51:42 AM  Ignore NavyEOD Report Abuse
I know we need to find better alternative fuels.
Smarty_Pants
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Fort Worth

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Message Posted: 5/21/2008 8:49:59 AM  Ignore Smarty_Pants Report Abuse
We must develop our own resources, and not be at the feet of rogue nations that set un-reasonable demands.
AlaRedNeck
All-Star Author
Kansas

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Message Posted: 5/21/2008 8:49:40 AM  Ignore AlaRedNeck Report Abuse
"Oil soared past $130 a barrel for the first time this morning, touching $130.38 a barrel."

MSN Money this morning.
divineaim13
Rookie Author
Akron

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Message Posted: 5/21/2008 8:48:58 AM  Ignore divineaim13 Report Abuse
THEY CAN RIP US OFF AND WE STILL KEEP BUYING. BUSH'S BUDDIES ARE MAKING THEIR LAST BILLIONS BEFORE HE LEAVES.

i AM REALLY PISSED THAT THE GAS STATIONS WONT GIVE THEIR CURRENT PRICE. THEY ARE A BUSINESS IT IS JUST WRONG.
yelobus
Veteran Author
Houston

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Message Posted: 5/21/2008 8:48:28 AM  Ignore yelobus Report Abuse
Gas costs $4 because we are willling to pay it.
MetroSexual
Champion Author
New Hampshire

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Message Posted: 5/21/2008 8:48:23 AM  Ignore MetroSexual Report Abuse
If you don't know what it feels like to live through a major economic depression, get ready.

CNN just announced that oil has gone above $130/barrel.

There isn't anyone who will not be affected by this in a negative way. I only hope everyone is more than one paycheck away from the street. It can happen in a flash.
AlaRedNeck
All-Star Author
Kansas

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Message Posted: 5/21/2008 8:48:17 AM  Ignore AlaRedNeck Report Abuse
How is it Obama's fault? He doesn't control anything, he didn't start any illegal wars or ignore the will of the people. You are stretching here.
MetroManiac
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Rochester

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Message Posted: 5/21/2008 8:48:15 AM  Ignore MetroManiac Report Abuse
very weak dollar, no buying power
Fencemaker
All-Star Author
Pittsburgh

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Message Posted: 5/21/2008 8:46:45 AM  Ignore Fencemaker Report Abuse
If you buy gas, then it is your fault. You are contributing to demand and the price is a product of demand.
mplambert54
Rookie Author
Columbus

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Message Posted: 5/21/2008 8:45:04 AM  Ignore mplambert54 Report Abuse
Everyone has played a part. And yet, we complain about it and do nothing to fix it.
jjulson
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North Dakota

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Message Posted: 5/21/2008 8:44:18 AM  Ignore jjulson Report Abuse
Many factors one being we forgot the 70's but much of the popluation was not around in the 70's
AlaRedNeck
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Kansas

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Message Posted: 5/21/2008 8:41:26 AM  Ignore AlaRedNeck Report Abuse
It's our fault for not learning our lessons from the oil embargo of the 70's...and if prices go back down a bit we will forget what we have learned from this latest round of price hikes.
DST43
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Oklahoma

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Message Posted: 5/21/2008 8:39:40 AM  Ignore DST43 Report Abuse
we all are
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