Big Jump In Gas Prices Predicted [24 cents!]

CBS News ^ | 3/3/2005 | CBS/AP

[1Old Pro]

This problem is in process of solving itself. Outrageous gas prices will encourage folks to buy more efficient cars,

Yep, if I had a huge SUV I think I'd put it on the market now before the market supply gets flooded and you can't give them away.

[GraniteStateConservative]

Wanna cut your expenses? Easy. Walk, ride a bike, plan trips ahead of time so you don't have to run to the store over and over again.

Right on. We need Bush to address the nation wearing a sweater. He doesn't even need to write a new speech.

[speed_addiction]

This one is mine. Lucky for me I own a Gas Station! I also ride a motorcycle most of the time.

[Obadiah]

Agree with you in part. A small part of the problem is demand. But also, the problem has a lot to do with people speculating in oil futures right now who are buying oil futures on the speculation that is $55 today but could go to $80 next week. There's a LOT of money to be made if they make this bet. So, it's a lot of irrational exuberence in the market that is adding to this.

At some point maybe you do have to open the SPR spigot and flood the market. Maybe this would be the needed pin to prick the bubble.

[Born to Conserve]

Too many people with too much money bidding up the prices at the pump.

Oil producers are producing as fast as they can because the prices are high.

If gas were so terribly expensive, people wouldn't be buying it, and they wouldn't be buy huge gas guzzling cars.

etc, free markets are great.

[newcats]

but I'd like the opportunity to cut my personal gas expenses in half.
Then what does that mean?

[RockinRight]

Hehe...I've heard that one. Which makes no sense. If Bush were really doing it for oil, wouldn't he make it cheaper so he could look like a hero?

Democrats are so stupid.

[Who dat?]

Now priced at $2.09 Unleaded Regular.

LOL. Filled up here in southern CA last week and it was $2.23 for unleaded regular.

[Quick1]

It means being able to buy a Smart car would double my current gas mileage (although now I've read reports that it gets less than 60 mpg), which in turn cuts my gas expense in half.

Pretty simple math.

[RockinRight]

I am all for alternative fuels. But these following problems must be resolved for it to work:

Cost efficiency
Power and drive quality (this is important for auto enthusiasts)
Time between recharge/fillup
Acceleration

[RockinRight]

Three dollars???? Where do you live?

[RockinRight]

My gf insists that the OPEC nations are gouging us because they're pissed about the Iraq war...

[NCC-1701]

And we can thank the likes of the NAACP for their continued insistence for court ordered busing to continue. They must be getting some kind of kickback from the busing industry. Busing has never worked and its continued existence will never work. To me, that's one major reason for the long gas lines in the '80's. The country was running dry but, by all means, keep the buses rolling. The government wants us to use public transportation and carpool. I have never and will never do that, as long as there is court ordered busing. If that's ever relegated to history, maybe then I'd consider alternative transportation. Until then, no da*&ed way.

[RockinRight]

Sure. That will take care of the 10% of driving I do for pleasure. Can't very well ride a bike 100 miles to see a client, though.

[reagan_fanatic]

It's already at two dollars a gallon here in Illinois (and higher in some spots.)

I don't look foward to seeing what Summer has to offer.

[varon]

"$2 a gallon we think is easily within reach and probably in the next couple of months," the American Automobile Association's Robert Sinclair told CBS Radio News.

Within reach, my a**!. We're at $2.17 a gallon already!!!

[SMARTY]

Ohio

[RockinRight]

Wow...I'm in Ohio as well-what city? I'm in Akron.

[HostileTerritory]

I'm checking my calendar and it's March. Isn't that a bit early for the annual "experts predict $3.00/gallon gas this summer!" articles?

[RockinRight]

Could ethanol vehicles be the future? I don't know much about them, just that only minor changes need to be made to existing designs.

Efficiency?
Cost?
If they were in demand, would production be able to keep up to keep prices reasonable?