News, California Gas Prices Reach $5 In Some Areas.

[gallowsCalibrator]

Originally Posted by 18Montclair

2.75 sounds great! Well, I guess the oil companies have once again fooled us into allowing them to boost prices by 2 bucks just to lower it by a buck so we can feel like we're saving money.

Well, at least here, unleaded never got to $3 at any station that I saw on my 20-mile drive to work. I know in other places it has.. but, I am curious to know (of those higher places) what was the gas price before the spike?

Before the spike, I filled up for around 2.49 or so - only about a quarter difference to me.

In fact, I'd actually appreciate a link to someplace that shows the tax breakdown per state.

[sliver203]

I'm just venting here - but I'm surprised there's not more outrage regarding gas prices. Here in Connecticut, it now costs me $48 bucks to fill up my Honda Accord from empty.

WHY IS THERE NOT A PUBLIC OUTCRY?!?! This is an attack on American's wallets. Highway robbery.

Thank God this hillbilly we call our president will be gone in Jan. 09. Still, a LOT of damage can be done in 13 months.

[tigerlily]

Hillary Clinton urges bush to tap reserves. Bill Clinton released 30 milliion bbls from the reserves before the 2000 election but was criticized for using it to help Gore.

Print Story: Clinton urges Bush to tap oil reserves on Yahoo! News (broken link)
Clips:
Moderator cut: do not repost copyrighted articles

[lchoro]

He tapped reserves last year to artificially lower prices. I don't believe they've yet to take it back. In the meantime, the government is going to have to pay much higher prices to replace those reserves. The move will only work to lower prices temporarily.

[Kabfon]

Although I agree that 2.39 a gallon for the price of gas in the United States is highway robbery, here in canada where I live, the price of gas is 4.16 a gallon. It makes you think twice before driving around and indirectly probably contributes to a greener environment as people don't want to be driving without a good reason. Nevertheless, I still think that this is outrageous given the fact that a lot of it comes from Canada.

[The Dissenter]

Originally Posted by Kuharai

Well, at least here, unleaded never got to $3 at any station that I saw on my 20-mile drive to work. I know in other places it has.. but, I am curious to know (of those higher places) what was the gas price before the spike?

Before the spike, I filled up for around 2.49 or so - only about a quarter difference to me.

In fact, I'd actually appreciate a link to someplace that shows the tax breakdown per state.

Kuharai, i'm jealous of you. I live about 4 hours from HR in Northern Virginia and i'm just a hair from $3 a gallon ($2.97)

Two weeks ago gas was $2.68 to $2.76.

[JD59]

Oil prices hit a record high of $97 a barrel on Tuesday, but the next generation of consumers could look back on that price with envy. The dire predictions of a key report on international oil supplies released Wednesday suggest that oil prices could move irreversibly over the $100-a-barrel threshold in the not too distant future, as the global economy faces a serious energy shortage.

Oil Prices: It Gets Worse - TIME

[tigerlily]

Originally Posted by sliver203

I'm just venting here - but I'm surprised there's not more outrage regarding gas prices. Here in Connecticut, it now costs me $48 bucks to fill up my Honda Accord from empty.

WHY IS THERE NOT A PUBLIC OUTCRY?!?! This is an attack on American's wallets. Highway robbery.

I'm not defending bush, but Congress needs to learn multi-tasking like the rest of us. They ought to be able to handle more than two issues: housing crisis and Iraq. Some reasons why congress won't act:
Clips:
Print Story: Congress exhibits less outrage over gas on Yahoo! News (broken link)

When gasoline prices first hit $3 a gallon in 2005, irate lawmakers quickly assembled top oil executives for a public grilling. Pump prices are again above $3, yet the outcry from Congress is barely a whimper by comparison

...
The change in tone since Nov. 9, 2005 ... reflects an altered landscape in terms of energy economics and politics, analysts said.

• The American public is more accustomed to high prices, despite the financial pinch.

• Oil industry profits are retreating from year-ago levels as the soaring cost of crude crimps refining revenue.

• The outrage many Democrats expressed back then over high energy prices has been tempered by the fact that their party now controls Congress, making finger pointing more difficult.

• Plus, lawmakers have their hands full with a worsening housing crisis, a four and a half year old war in Iraq, and spending bills that have yet to be completed.

...But unlike the Senate hearing two years ago that focused on record profits, oil companies are not being blamed as much by Congress this time. Exxon Mobil Corp., Chevron Corp. and others recently posted declines in quarterly earnings due to weak refining margins, the difference between what refiners pay for oil and what they're paid for the products they make from it.
...
Because the public recognizes rising prices are not directly controlled by Congress, or oil companies, and therefore lack any "obvious political fix," there's less pressure on lawmakers to hold hearings,...
...
Rep. Edward Markey, D-Mass., is leading calls for the White House to release oil from the nation's emergency reserve, accusing President Bush of "wheeling and dealing with oil companies while American consumers are reeling from dealing with $3 gas and heating oil."