Retail gas hits record $3.50 a gallon as oil marches higher

AP ^ | 04/21/08 | ADAM SCHRECK

[ThunderStruck94]

I hear you brother. I bought a Chevy Aveo 5 on Saturday ($12400 out the door). Has A/C and cruise, plus a 100,000 mile warranty. I love the little car. I have 70 miles each day round trip and my other vehicles are a Suburban and a Dakota (Both with V-8s). I started today with a full tank and gassed up after to just see what my mileage was. 36 mpg! Over twice what I was getting. The car will pay for itself as the payments would be less than the difference in gas. Word to the wise, get one now (a small car) because they are going to go up in price as the dealers are figuring out they don't have to discount like they did with me.........

[Travis McGee]

It’s amazing, isn’t it, to watch us borrowing billions to give away as aid.

[dragnet2]

Pretty twisted stuff.

[B-Chan]

We have recession-proofed ourselves to the extent possible. I sold my SUV and bought a fuel-efficient Scion XB, which we love. (Our car insurance is also much less expensive now.) We put a new (steel) roof on the house and had a radiant barrier installed. Having eliminated all our debts other than mortgage (fixed rate), utility bills, and medical insurance for Baby (Mommy and I have none — we can’t afford any) our spending-reduction program now consists of eliminating all restaurant dining and debit card purchases during the week. I am negotiating for a full-time day job, the income from which will be diverted almost entirely into savings. Finally, I keep a couple of months’ worth of survival money in cash hidden away, along with 50 pounds of white rice in storage on a continuous basis, and we will add dried beans to the storage program soon, although God help us if it comes down to that.

I have no idea which way the events of the next year or so will shape up, and I don’t really worry about it. I trust that God will keep us housed, clothed and fed no matter what. If He chooses to do otherwise, well, I guess we’ll all freeze to death in a ditch, but we’ll be together no matter what.

The upside to all this is that if fuel prices continue to skyrocket, the income from our little oil and gas lease will go up, too!

May God give us strength to endure whatever trials He allows us to experience.

[Revel]

And even bigger problem is just how are Americans going to be able to afford heating next year? What was a 600 dollar heating bill just a few years ago in now 2500 dollars and rising. I see a lot of people freezing.

[kittymyrib]

Let not your heart be troubled. President Obama will nationalize the energy companies and everyone will get their ration of gas and heating oil from the government. You don’t think he will have any love for the broken capitalist system, do you? And he will be re-elected in a landslide, just as Hugo Chavez was, because there are many more voters who are poor than voters who are rich.
The pathetic mismanagement of our economy by American business will be its death knell.

[ex-Texan]

Gasoline still costs less than a gallon of milk !

I can't wait until milk costs $ 5 a gallon and gas cost $ 6 _______!

Ben Bernanke is a bona fide idiot. He raped the USD to save a few hundred of his corrupt Wall Street cronies. In more sane times, the man would probably have faced an angry mob and been run out of town.

But the really bad news is just around the corner. Fat cat "real estate professionals" (LOL, LOL !) are moving in with relatives. Realtors who used to drive Mercedes and Cadillacs and Hummmmers are out of work. They are unloading mountains of shi'ite in garage sales: big screen televisions, fancy sound systems, $ 4,000 dining room sets and $ 800 BBQs. Over priced houses sit empty with For Sale Signs on them. In some cities, squatters have already taken over these empty houses.

And gainfully employed Americans are dumping gas guzzling SUVs for little Toyota hybrids. The excesses of 2005 and 2006 are being unloaded all across America. It's now time to pick up lots of almost new Chinese made junk to stuff into your homes . . .

Yipppeee !

[TigerLikesRooster]

Still, they continue to go wild at "better than expected" earnings.:-)

Eternal optimism or eternal stupidity?

[SunkenCiv]

Oil spikes to record above $117 a barrel after tanker attack
Breitbart | Apr 21, 2008
Posted on 04/21/2008 2:29:36 AM PDT by dawn53
http://www.freerepublic.com/focus/f-news/2004613/posts

[AndyJackson]

Now the weak dollar really begins to bite

Just where did folks cheering all of Bernanke's liquidity addition think that all that liquidity addition was going to go. Well, everyone knew that the dollar was going to go down and commodities were going to go up. So, guess what - law of unintended consequences, since I presume Bernanke is like a guy getting pistol whipped by a gang of mobsters and doesn't have a clue where the next blow is going to come - a lot of that liquidity went into bidding up futures on commodities.

And we have the whole corn to ethanol problem. Does George Bush have any clue how bad is reputation is going to be. As Christopher Buckley wrote not long ago, he is now in very strong contention for last place, with ADM's hands in his pocket.