Watch out: Here comes $4 gasoline (CNN)

[Eugene]

Source: CNN

Watch out: Here comes $4 gasoline

Prices were supposed to peak below $3 a gallon, but refinery
problems, strong demand could push them much higher.

By Steve Hargreaves, CNNMoney.com staff writer
April 26 2007: 5:59 AM EDT

NEW YORK (CNNMoney.com) -- Gasoline prices, already above $3 a gallon
in some states, could charge higher this summer and hit $4 a gallon in
some locations, according to one industry expert.

Pump prices were supposed to peak below $3 a gallon this May, then drop
off before the summer driving season got into full swing, according to the
Energy Department's price forecast.

Well, we're not even out of April yet, and the nationwide average price
for a gallon of unleaded regular has hit $2.87.

One big factor driving prices: gasoline inventories continue to fall. After
a promising one-week boost in refining activity, the latest report
Wednesday actually shows refining activity falling. And demand is already
soaring, before the summer driving season is in full swing.

What this means for prices is obvious, and to most drivers it is not good
news.

-snip-

Read more: http://money.cnn.com/2007/04/26/news/economy/gas_prices/index.htm

[villager]

1. Michael Ventura on "$4 a Gallon"

http://www.energybulletin.net/6056.html

[snappyturtle]

6. Scary!!

"The "exburbs" and the rural poor will feel it first and hardest. Exburbians moved to the farthest reaches of suburbia for cheap real estate, willing to drive at least an hour each way to work. Many live marginally now. What happens when their commute becomes prohibitively expensive, just as interest rates and inflation rise, while their property values plummet? Urban real estate will go up, so they won't be able to live near their jobs – and there's nowhere else to go. In addition, thanks to Congress' recent shameless activity, bankruptcy is no longer an option for many. What happens to these people? Exburb refugees. A modern Dust Bowl."

Bushco is going to get every dollar they can squeeze from us......and people still think it's too much effort to impeach the (expletitive).....can we afford, really afford,to let the commander and thief stay in office?.....remember he's doing nothing to end the war because of oil and war profiteering. imho

[SammyWinstonJack]

7. We are SO screwn!!11!!

:cry:

[liberal N proud]

2. Exxon Mobil profits might not break records

This is total bullshit that they keep making record profits with prices at all time highs.
But no one is set to challenge them on it so we will keep paying ever higher prices.

[Viva_La_Revolution]

3. teaser on radio news - Exxon makes record profits again

I'll try and find an article...


on edit:

Exxon Mobil 1Q profit rises


By JOHN PORRETTO AP Business Writer
© 2007 The Associated Press


NEW YORK — Exxon Mobil Corp., the world's largest publicly traded oil company, said Thursday its net income grew 10 percent in the first quarter, as higher refining, marketing and chemical profit margins overcame lower crude oil and natural gas prices.

Net income rose to $9.3 billion, or $1.62 per share, for the January-March period from $8.4 billion, or $1.37 per share, a year ago. Analysts polled by Thomson Financial were looking for a profit of $1.52 per share.

http://www.chron.com/disp/story.mpl/ap/business/4750997.html

[A wise Man]

11. That's because

Republicans as well as Democrats have stock in these oil Co's. We the people will always get screwed as long as the money and profit overshadows common sense and the welfare of the overall public. I'm getting so tired of getting "F_ _ _ ed by these oil companies and their lame excuses or no excuse at all into why the prices keep going up to the ceiling. No product on any market has risen to the level in seven years as the gas prices have since the cave man discovered fire.

[notadmblnd]

4. I'm just waiting for school to be out for the summer

Most of my driving is getting my son back and forth to school across town, sometimes 3 times a day. Once he's out, there's no where under walking distance we need to go. Our butts are staying home for the summer, besides we like it here.

[sellitman]

5. Hey Hummer owners.......

Suffer you selfish bastards!

[Marr]

8. "Refinery problems". I think the oil industry is in need of a good

spanking, in the form of windfall profits taxes. And I think these taxes should be increased every time they inflate the gas price. I expect we'd see a sharp reduction in "refinery problems", really damn quick.

[Der Blaue Engel]

9. CNN apparently is unaware of San Francisco's existence

I've been telling people about our $4 gas for at least two months, and getting mostly cricket chirping. (I guess it's cuz we hippy liberal latte drinkers just deserve to pay more.)

[William769]

10. I'm leaving for vacation on Monday, and I'm pissed!

:mad::mad::mad::mad:

I am up to allocating 400 bucks just for fucking gasoline!|

[Ganja Ninja]

12. Here comes a 4% approval rating for Bush too. n/t

[bouwob1]

13. Remember right before

the 06 elections when gas prices dropped dramatically? I was calling it then that within 2-3 months gas would rebound back to record prices. I think the oil companies are in bed with the republicans and it backfired. Now that dems are in power they are taking it out on all Americans and gas will continue to rise to record prices. Big Surprise