Raleigh hit hard by gas prices (Durham: rental, credit, loans)

[saturnfan]

Originally Posted by StoneOne

That's precisely what it would be had the government never started the problem by paying for roads and utilities to be expanded further and further and further.

Looking at the Triangle, it seems to me that the infrastructure is already in place to allow this area to grow much more, but vertically rather than horizontally. There is so much land connected to good infrastructure that could be used for high-density development.

Here's a proposition: stop all publicly funded road construction now. Any new roads for new subdivisions will have to paid for privately, 100%. The residents who live in these new divisions and the developers who build them can determine how to pay for it. Let them charge tolls if need be.

I agree 100% and no new highways should be built, no matter how they would be funded.

[dansdrive]

Originally Posted by Dire Wolf

It went up about 1.5%. That percentage added to the price at the pump would be about a nickel a gallon. Not a huge jump compared to the overall runup we have seen.

I agree but that was one day and keeps contributing to the run up.

Now that we the (USA) created this 'Global Economy' we are finding out it comes with a cost. When basic merchandise was dropping we loved it! This Global Economy is the best thing since 'two all beef patties on a sesame seed bun', but in reality is it? Commodity prices have gone through the grain silo's roof. Yes China/India/much of South America is growing rapidly and will consume more fuels. But is it to the extent of this rapid rise in crude oil and its derivatives?

What bothers me the most is are we seeing ENRON II? During the ENRON crisis California had little electricity and outgrown their production capabilities only to find out it was an artificial shortage, its was ENRON manipulating how much power got sent the Ca. Will we see this play out again in the world crude oil market?? Who knows.....

But for now its daily price increases in fuel which translates into less money in our collective pockets and less money to burn on merchandise which is the life blood of our USA economy...... $3.79 today and increasing!

[findingmesomeday]

Originally Posted by James Taylor

I've been thinking about that too. In 2000, a gallon of gas cost around a dollar...and just think about how many, many years it took for the price to climb to a dollar. Now, in a mere eight years, it has went from being one dollar to almost four dollars a gallon!!!

Eight years? Feels more like eight days!

Yesterday morning, I drove to the gym to workout (yeah, sounds counterproductive, but I've pulled my achilles tendon and running is out for a while, so I need the elliptical cross-trainers).

Gas price on the way to the gym @ 7AM: $3.77
Gas price on the way home @ 8AM: $3.83
Gas price at 6PM: $3.85

So we've gone from raising prices 1x/week, to several times a week, to once a day to several times a day. I'm sorry, but I just can't believe that the gas I pumped into my car yesteday at $3.77 is different from the gas people are pumping into their cars right now at $3.85. I haven't seen a tanker pull up in that 24 hour period.

[CaliBoy]

Originally Posted by NChomesomeday

So we've gone from raising prices 1x/week, to several times a week, to once a day to several times a day. I'm sorry, but I just can't believe that the gas I pumped into my car yesteday at $3.77 is different from the gas people are pumping into their cars right now at $3.85. I haven't seen a tanker pull up in that 24 hour period.

And check this out, it used to be (and quite recently) that Oil companies and distributors would, at least, try to 'sell' us on an excuse as to why prices are going up. Now, they've simply run out of excuses and have no shame whatsoever to just raise prices. Frankly, the excuses I never bought and don't buy why they're raising it today. Except for profit and pressure placed on the American public to accept drilling in wildlife areas when, before, we were so reluctant. At some point, the masses will apparently break and go for that too (of course, this was one of Bushes agendas from the beginning).

It's hard to focus on how Raleigh is hit so hard since all of America is feeling it too (and, of course, certain parts of the world). But let's face it, it doesn't matter what other parts of the world, or states, are paying for gas, what we're paying here is just alarming, debilatating, and (considering that prices have doubled over that last few years with barrels of oil tripling) just criminal.

Of course, considering how criminal certain people become when they rip out five thousand dollar air conditioning systems for twenty dollars of copper here in the triangle, imagine how criminal they will become in the near future when these punks can't afford to drive to such locations to rip off an A/C and, then, to the scrapyard.

[miamiblue]

Originally Posted by CaliBoy

And check this out, it used to be (and quite recently) that Oil companies and distributors would, at least, try to 'sell' us on an excuse as to why prices are going up. Now, they've simply run out of excuses and have no shame whatsoever to just raise prices. Frankly, the excuses I never bought and don't buy why they're raising it today. Except for profit and pressure placed on the American public to accept drilling in wildlife areas when, before, we were so reluctant. At some point, the masses will apparently break and go for that too (of course, this was one of Bushes agendas from the beginning).

It's hard to focus on how Raleigh is hit so hard since all of America is feeling it too (and, of course, certain parts of the world). But let's face it, it doesn't matter what other parts of the world, or states, are paying for gas, what we're paying here is just alarming, debilatating, and (considering that prices have doubled over that last few years with barrels of oil tripling) just criminal.

Of course, considering how criminal certain people become when they rip out five thousand dollar air conditioning systems for twenty dollars of copper here in the triangle, imagine how criminal they will become in the near future when these punks can't afford to drive to such locations to rip off an A/C and, then, to the scrapyard.

The oil companies are just doing what they are supposed to do in a free market: charge what the market will bear. The dollar has weakened, and oil is priced in US dollars for the entire world. That means it takes more dollars than it used to to buy goods and services worldwide, more dollars today to make a barrel of oil worth what it was worth two years ago. Oil companies can and, according to economics, should charge the highest price that the market will bear to make a profit. That is just pure and simple economics for you. There is absolutely nothing criminal about it.

If it is "debilitating" for American consumers, it is no one's fault but our own! Other countries have always had higher gas prices, and they have evolved their way of life to those types of costs, thus making that way of life sustainable over the long term considering that oil is a non-renewable resource that will eventually become scarce and run out which = high prices anyway. We all knew this was going to happen eventually, but no one wanted to do anything to prepare for it ahead of time. Now we are having a typical reactionary response of whining about something that we knew was going to happen to begin with. If we had thought things out and planned our cities and infrastructure better, for the future instead of for our "wants", people might not be complaining so much right now. Oil companies might not be so rich, and the price of gas wouldn't really be a big deal.

People wouldn't expect any other company to charge less for their products than people are willing to buy them for. If they did, more people would be demanding that others ask less for some real estate because sellers are "just being greedy". Of course, it is always about greed in the end, but if people are willing to pay, suppliers can charge whatever they want. When the demand drastically goes down because the market cannot bear the cost any longer, the price will come down.

I have been tracking my gasoline purchases using the fueleconomy.gov website since December, and over the past few months my average monthly petrol bill has not gone up that much all things considered. My grocery bill, on the other hand, seems to have gone up a much more significant amount.

Yes, Raleigh is going to hurt from higher gas prices, and as others have said, it has everything to do with sprawl.

[Dire Wolf]

Originally Posted by miamiblue

The oil companies are just doing what they are supposed to do in a free market: charge what the market will bear. The dollar has weakened, and oil is priced in US dollars for the entire world. That means it takes more dollars than it used to to buy goods and services worldwide. Oil companies can and, according to economics, should charge the highest price that the market will bear to make a profit. That is just pure and simple economics for you.

Good to see someone who gets it. It is clear from reading CDF that a lot of folks either do not understand or do not believe economics. People are angry and want to blame others - "greedy" oil companies, "greedy" developers, etc.

Blaming oil companies when there margins remained unchanged is silly to begin with. There are four main factors getting us to where we are - the huge loss in the value of the dollar, the rapid growth in demand, the conspiring of the oil cartels to not increase supply in the fact of that increased demand (creating an imbalance), and speculation by investors.

[miamiblue]

Originally Posted by Dire Wolf

Good to see someone who gets it. It is clear from reading CDF that a lot of folks either do not understand or do not believe economics. People are angry and want to blame others - "greedy" oil companies, "greedy" developers, etc.

Blaming oil companies when there margins remained unchanged is silly to begin with. There are four main factors getting us to where we are - the huge loss in the value of the dollar, the rapid growth in demand, the conspiring of the oil cartels to not increase supply in the fact of that increased demand (creating an imbalance), and speculation by investors.

Well, I do have a minor in economics (not sure why, but I do).

And I think that it isn't just people on these forums who don't really grasp the science of what is happening - it is without a doubt nation-wide sentiment.

[geoff2v]

Originally Posted by Dire Wolf

Good to see someone who gets it. It is clear from reading CDF that a lot of folks either do not understand or do not believe economics. People are angry and want to blame others - "greedy" oil companies, "greedy" developers, etc.

Blaming oil companies when there margins remained unchanged is silly to begin with. There are four main factors getting us to where we are - the huge loss in the value of the dollar, the rapid growth in demand, the conspiring of the oil cartels to not increase supply in the fact of that increased demand (creating an imbalance), and speculation by investors.

Now, I agree that the blaming this corporation and blaming that other greedster (is that a word?) get to be a bit much. But it's also not the case that the oil companies' profit margins are "unchanged." They have grown, spectacularly to huge levels over the last few years.

[wonderpet8866]

Guys I know its a traingle forum But gasoline and crude oil.... well the days of saying its exxon mobils fault are over. Look at say the saudis, the Chavezez dude, the others that have crude to sell. Its 134 a barrel heading toward 200+

Get a small car pay cash and well we all need some good luck.

[findingmesomeday]

I agree it's economics but I also think there's a political agenda here to promote drilling in previously protected areas like Alaska.

And there is some control we could leverage. Reduce or eliminate the gas tax?

Higher prices at the supermarket and elsewhere are being partially driven by the increase in fuel prices.

We're temporarily renting a home that uses oil to heat. I thought we'd be out of MA by next winter but that might not be the case. The house we owned used gas to heat which was expensive but not nearly as outrageous as oil. I'm frantic trying to figure out what the frig we're going to do next winter if we can't get out of here.