about this blog
- Cheryl Casone joined FOX Business Network (FBN) in September 2007 as an anchor. Prior to FBN, Casone served as a correspondent for FOX News Channel’s (FNC) business unit and was a regular guest on FNC’s Your World with Neil Cavuto. Casone brings years of experience covering finance, business, and consumer news to FBN.
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Emory
My LARGE Harley gets 40MPG without even trying. The high gas prices just made me invest in some rain gear- thats its. Screw it, lets Ride!
Randy
I think once someone assassinates one our inept congressman (women) then the rest will take notice. It is bound to happen, too many people are complaining, and sooner than later, they are going to piss-off a shooter. I think that our congress and senate is so out of touch! When I become president here is my first items are: 1. Senators and Congressmen have two-term limits. A. Pay is $50,000 per year. B. No Medical Benefits. C. No Company Cars. D. They also agree to be audited for the next 20 years by multiple tax companies to keep pay-offs from happening. 2. We become an Independent and a self-sustaining Nation. A. We drill for our own oil, and if needed we can sell excess to pay off National Debt. B. We drill for oil, where ever oil can be found. C. We make our Oil Drilling areas "Cleaner, Better, than they were prior to drilling. D. We use ONLY Nuclear Power for electricity and NOT coal. We use coal for other things, or sell to other countries to pay off National Debt. (Nuclear Power has ZERO Carbon FOOTPRINT) E. Get rid of Diesel Fuel, and replace with Natural Gas. All Diesel Trucks will convert to CNG. F. Develop Hybrids, and Electric Cars. (Electric Cars will require HUGE demand for electricity, and only Nuclear Reactors can offer that amount of energy) Thanks!! More to come
chris
If there are that many fewer cars on the road, how would demand go up that much. Sure, demands up in developing nations, but the countries can't subsidize fuel for ever, and demand isn't up that much. If 10 million vehicles leave the road, don't you think that would impact the futures market?
Rick
I wish that I knew what is going on. I work closely with the oil business in Houston and most at my level here don't understand why the sudden spike in oil prices. I have heard about the speculators, the terrorists, big oil, supply interuptions, enviromentalists and more. I personally believe that it is a combination of all of the above. I believe the speculators with the help of the media are unnecessarily driving up prices, big oil is just sitting back and enjoying the big money they are receiving, they do not set the prices and they DO invest hundreds of millions to find and harvest the oil, but I don't see them giving anything up to help. Enviromentalists are a big problem to domestic drilling and they don't have any idea of what they are talking about other than their "feelings". Drilling for oil is now so clean that I can't understand their objections. Last of all are our politicians who wish to subjugate the US to the new world order. Just take a look at the Trans-Texas corridor plans to see what they have planned for us. Basically until people stop buying oil, the prices will not go down.
Daniel
When Israel attacks Iran within the next few months, we won't have to wait till 2010 for $7.00 gas.
Steve
The reality of what we read about the oil crisis/situation is indeed of significance. How we, as end users of the commodity, understand, evaluate, and act is of real concern. What are the essentials in life? Rhetorically, we know they are food, housing, and transportation: each is not mutually exclusive. How then do we make viable decisions based on alternative ways to overcome and still maintain our open independence as we go about our styles of life, all framed in a prudent manner to continue to exist in terms of success? As demographically diverse and intra cultural Americans, this can be accomplished if we exercise pragmatic ways to "meet and defeat": a fundamental of our democratic society. Is it at the point where we are so dependent on oil as a resource that none of us are willing to sacrifice and find innovative alternatives or are we just merely lazy and defer to complaining and making excuses and finding fault? Many questions to be answered. Americans have always taken pride in a moral fiber that demonstrates our flexibility to provide solutions to problems. Our economic engine in this country has, as it appears, found itself so attached to the production of crude and the association of all hydro-carbons derived from every distillation process that the effects are felt in every sector of our economy - transportation, housing, food production, and on and on. Let's find ways to creatively free ourselves of the bond to oil - no easy task but attainable.
Jeff
I think our economy will be totally destroyed before gasoline hits $7.00 per gallon. It won't be so much because people will be forced to choose between a commute to work and food or medicine. It won't be because people will no longer be able to afford a vacation or a trip to Grandma's for Thanksgiving Day. It will be because the fuels used by our transportation industry, diesel and jet fuel, are significantly more expensive than the fuel we put in our cars. We have already seen the price of literally everything skyrocket because of the sharp increase in shipping costs. Our transportation industry in on the brink of failure. It cannot make any more cuts. The transportation industry is the backbone of the U.S. economy. Every other sector of our economy relies on transportation. Once transportation fails the entire economy fails. We are already dangerously close to that point. Fuel costs are up 33 percent from this time last year. Another thing that Americans don't see is that the stock market takes a major blow every time oil futures are bid up. On 26 June the Dow drop 358.41 in one day of trading because oil futures were bid up $5.50. That was the last 21 months of gains lost in one day of trading because of ridiculous speculative bidding on oil future. On 27 June the Dow lost 106.91 when oil futures were bid up $1.22. At this rate the stock market will crash before the end of this summer. The U.S. will be a 3rd world nation before it sees $7.00 per gallon.
Steve
Wow since the dems have taken over congress, look what has happened. Open up our off shore areas to drilling and when that happens oil will go down. GM, Ford and Chryl better wake up and produce vehicles that do better than 15 mpg. People still drive too fast and we have too many old vehicles on the road. Time for change. Change congress first as the Dems have accomplished nothing since taking both houses.
The Truth
The truth is that the price of oil is being driven up to take your minds off what is important like the governments activities, corporate interest, zionist regimes, etc. They paint a picture of peaceful visits when they come and go, Bush to Saudia Arabia, the Pope to America, but what is really happening. Their called behind the curtain deals. Why do human being tolerate this, we are gods not rodents to be controlled by a group of crazy people who want ultimate power and knowledge. When will we see through the smoke and BS. Peace to all my sisters and brothers.
Nunya
This is total bunk. There is no real justification for this level of price. The demand has not slowed. The supply has not dwindled. Methinks there is more here than meets the eye.
john
i was recently at epcot in orlando and visited the gm facility at the test trac pavilon. there to my amazement show cased with the other gm vehicles was a hydrogen fuel cell suv. after talking to the gm rep. i was told that they were ready to start mass production of these vehicles. the rep. stated that the only hold up was our governments lack of commitment to help subsidize the hydrogen fueling stations accross the nation, that are already prevelent in southern california. when will our government wake up and realize that this is the only path foward? oil is no longer a solution. our government has failed us in not realizing that this day would come and we have no other choice but to pay thru the nose for their mistake.
John R.
The thought of no cars being on the road for the general public is problematic. Two of my children live in rural areas as teachers. Teachers drive miles from neighboring communities to the community school to teach. Until we develop a new way of teaching these children, the teachers who earn only 30,000 a year will not be able to afford to drive to work. Do we leave these children without a quality education? Maybe the government will make us all live within 5 miles of our work in the large cities where we live in apartments (no more home owners because they waste so much). All work will be done in these cities so people can get to word. Where work is further away the government will transport people to work. No public cars or air travel allowed. Only companies moving food and material from one big city to another, buses, and trains are allowed. Now that's what our founding fathers meant by freedom.
K
Wow isnt Capitalism grand, no we dont want to increase taxes on the oil companies or impose a price cap, because that would be socialist and socialism is evil
Derek
Alot of people are trying to push mass transit and/or riding a bicycle to work... that's all fine and dandy. However, there are no bus routes that serve the route I take from home to work. I live in one county and work in the adjacent county. Also, the highways I take are freeways... no bicycles allowed on the interstate. So, nice try, folks. When there are routes available for me, then MAYBE I'll take the bus. Until then, I'm keeping my car, thanks. I sincerely believe the price of crude futures will drop upon the sheer announcement of drilling. Of course, the supply won't immediately be affected. It's ironic that the 5-to-10 year delay is the exact same excuse that was used to veto the ANWAR drilling bill in 1995! Well, 2005 has come and gone and here we are. Also, it makes me sick that we're not allowed to drill for oil within our own borders and yet Cuba and China are drilling diagonally into our reserves off the gulf coast! It's not the demand in the U.S. that's largely responsible. It's countries like India and China... their demand is much higher than the States...
TXMama
Gas cost has affected our family, but luckily my husband is a Web Developer and can telecommute part of the week and I work from home as a Medical Transcriptionist. Usually having to drive to work at a roundtrip run of 60 miles a day 5 days a week has been a pain in the wallet even before gas prices increased. To offset the increased expense of gas he's telecommuting as often as possible with an average of one saved day a week and if we are lucky we'll see two. Its the running joke at the office now with all this "GO GREEN" propoganda that they are increasing the companies carbon emissions ranking by staying home to work rather than driving to work. If gas prices continue to rise I would hope to see companies pushing more towards telecommuting for those with jobs that allow this option.
Scared
We need to limit the public vehicles on the road like they do in Mexico. Monday, Wednesday, and Friday vehicles with green plates can drive; Tuesday, Thrusday, and Saturday can be another color. Sunday's are for everybody! If nobody is going to do anything about rising fuel prices, we need to force the demand down. Yes this is a free country, but the thing we have that is free is our opinions. Wages are staying the same, and with prices spiking up so high as they are people are having a difficult time feeding their families, and that is what is most important. Anaylist are predicting prices as high as 6$ a gal. by the end of the year, and the federal minimum wage is still 5.50$(ish). People need to step up and do their jobs, whoever those people are, before we turn into a country full of poverty and despair.
Nick
You can check these facts on the Department of Energy's website... In 1947, oil cost $0.23/barrel. Back in 1947 our money was still reasonably backed by gold and silver and our coins were still made of silver. So, $1USD was equal to 1oz of silver. Therefore, a quarter, made of silver, was 1/4oz of mostly silver. If you check the current price of silver and divide it by 4 to get the price of a 1947 quarter today, you'll see something amazing in correlation with the price of gas today. Just do the math and check your facts. It isn't supply and demand, it isn't speculators, it IS the illegal institution known as the Federal Reserve System. Just before we were taken off the gold standard completely in the early 70s, a barrel of oil cost $3. With inflation rates of the gold standard, a barrel of oil today would cost between $3.20-$3.40. A huge difference from $143 of today. Also, how is it that oil can cost $18 before the war in Iraq in 2003 and now just 5 short years later, it has jumped $125. Illegitimate money leads to illegitimate prices. Wake up to this America. Your dollar-bills are "Federal Reserve Notes" not genuine U.S. Dollars. The Fed keeps dumping more money into the economy, creating debt out of thin air to support the rampant spending in Washington. It is destroying our economy. I encourage you to look up everything I've mentioned. Check the facts. You might just be surprised.
Kenny
John, I don't know where you live but try Wyoming where towns are 50 miles apart and no mass transit. How would you handle that?
David
I don't know why people on the coast lines think everyone lives like them. Here in the Midwest fuel prices are hurting us, and it will spread outward. We are in the middle of cutting wheat and the cost to harvest it is unimaginable. Fuel is up, fertilizer is up, labor is up, and so are tempers. We can't walk to the corner and hop on a bus. Our towns are miles apart and small. We have to drive at least 30 miles to go to a Wal-mart. When it cost 25 bucks just for a round trip to get necessities, you start cutting back on other stuff. People blame Bush for all this? What about the tree lovers that won't allow a refinery be built in this country. Oil supply is not the problem, it is turning oil into fuel. We used to have 2 forms of fuel, gasoline and diesel. Now it seems that every little county has special requirments for their fuel which cuts storage capacity. Also, the EPA has gone crazy on all these emission requirements. Their lastest is taking sulfer in diesel engines down to .005 ppm. However, they dont tell you that by doing this it hurts the MPG, therefore using more diesel. Ironic isnt it. EPA wants cleaner air but they dont care that it uses more fuel. Where is congress in all this? wanting to raise taxes? OK, help me understand. raising my taxes will lower fuel prices? How? How about cutting taxes so I have more money to pay my fuel bill. I pay the state 24 cents per gallon and the federal 18.4 cents per gallon.
DanFinn
We should not be worrying so much about gasoline prices but what home heating oil prices will be come September. The price per gallon to heat your home is expected to be double from last year. If we do not do something and FAST you will see more foreclosures than you have ever seen in the history of the USA. The government will need to bail out once again! I wonder where everyone thinks this money will come from.
Alan
Don't you all see. America is greedy and selfish. We deserve $20 per gallon. American is evil, we have used up all of the planets resources and now its time to pay. Blah Blah Blah. Keep on listening to the left and this is what you hear. I am sorry to burst your bubble, the energy policies of the last 40 years have done this, not Bush. Come on people, think for yourselves and stop listening to the "Green" fad bunch. We need more oil plain and simple. Call congress and tell them or shut up.
Deanna
John, I respect your comment about being fine without a car. That's just great for you. How about people like me who depends on a car to sell real estate. Sure, we have the internet and people can find their homes on the web, but at the end of the day, they still have to get in a car and go look at the home before they buy. I don't live in a small town of 10,000 where a bicycle might do the trick. I live in a town of 5 million people. How on earth would I conduct my business on the bus?! No matter how efficient I plan my day showing property, choosing the shortest, most expeditious routes, I still use gas. Guess I will be going to electric cars--it's the only solution if gas gets up to $7 a gallon. Or, better yet, when the government finally comes to their senses and declassifies their 50 years of hoarding anti gravity technology, then we can finally be rid of abusing our fossil fuels and leave them where they belong. The solutions exist. It's just our government - or shall I say, our shadow government - has other ideas for us.
Mike
American Man: Social Studies lesson: The President enforces laws that Congress makes. Amazing how the country has gone to pieces under a Democratic Congress over the last 2 years. Don't be so quick to blame Bush.
Jeff
Fixing this problem requires an understanding of what caused it. The President, the Senate Republicans and the oil cartel currently want you to believe that it is a supply and demand issue caused in part by the moratorium on domestic drilling. That moratorium has been in place since 1981. The sharp price increases have been happening only since about 2001. The truth is that the Commodity Futures Modernization Act, written by our Republican Congress and signed by President Clinton in December 2000 caused this. It exempted almost all futures, including energy futures, and offshore electronic trading facilities from CFTC regulations. Look it up yourselves if you don't believe me. It was H.R. 5660, Public Law 106-554. It can now be found in Title 7 U.S.C Section 2. The oil traders have had a license to do ridiculous speculative bidding from unregulated offshore facilities since 2001. They've been building wealth and power since then while handing us the bill. The fix for this problem is a repeal of the above stated legislation that caused it. Unfortunately some folks within our Congress and Executive Branch will not act. Could it be that they have a vested interest in these high prices?
Joseph Snith
Only the US has the comsumer capacity and technology to implement the new alternative vehicles like hydrogen cars. Let the prices rise and watch our market economy offer and provide a solution.
Dean
It's hard to get one's head around the rising cost of energy when so many of those doing the complaining are human suvs - more than willing to supplement their daily caloric intake with a caffeine delivery system costing $3/cup, and later drinking from small bottles of water whose cost per ounce is often greater than their cost for gasoline for that same ounce. Obesity is our #1 problem, not the price of gasoline. What we, both as individuals and as a nation, could save by reducing our cup and fork costs would go a long way to offsetting what are seen as our traditional energy costs. So America, keep drinking and chowing down while you whine. The cost of our high energy consumption is not always a pretty sight whether it be at the gas pump or at the beach. Oops, guess I had better get in the car to drive to the fitness center for another session with my exercise and diet guru. Just too tough to figure it out for myself. Perhaps you can hold my hand. Oh my, the cost of energy.
Jim
We have only to blame the face we all see in the mirror every morning we wake up. Imagine 100 million Americans on STRIKE until gas prices are at a fair price, 10% taxes across the board, and whatever else WE decide. Don't be fooled. All 545 useless politicans in the District of Criminals ( Repubs and Demos )are all behind this lining their pockets at our expense, apparently our tax dollars weren't enough. We are doomed
steven
two words harley davidson it cost me 15 bucks a week to fill up and get to work. get a clue motorcycles are part of the answer
Sonny
I have seen this type of garbage in the 70's and 80's where we had long gas lines, high prices and everyone screaming economy cars, only to have it return to big gas guzzlers in a few years. If we see six or seven dollar gas you can bet diesel will be higher and farmers who use fertilizer and diesel will either go broke, and or you green machine huggers will have to start eating your lawn as you will not be able to afford the food, since some will be unemployed. I farm and our fertilizer almost doubled as well as diesel. I debated weather to just let the land sit or borrow the money to plant a crop. I chose to borrow but I had to double my price for my product. Eventually the lower income will not be able to drive or eat. Where is Congress? I thought the Democrats got elected because they were going to do something about the oil prices yet, nothing has been other making sure they get their name in the paper or on television. Personally I think it is a scam by the major oil companies to raise the prices very high to a point we start screaming just so they can find a floor the American people will accept. If we scream at five they will keep it at four and so long to three dollar gas. I believe in the free enterprise system, I do not believe in greed.
Gary
Gasoline is required to keep today's economy alive. It is not simply a luxury. Millions and millions of greedy investors are soley to blame for the rising costs of gasoline. Self righteous investors, like the California Public Employees Retirement System are responsible for the rising cost of gas. Likewise, millions and millions of greedy Americans have "flipped" houses to inflate costs so far beyond median income that new homes are really beyond the reach of anyone who does not already have equity. It is not "they" who are to blame. It is we ourselves.
Mike
$140/bbl and $4/gal fuel is the product of the perfect storm of world demand, the weak US dollar, and especially politics. A presidential administration indirectly affects US industries (and the world to a lesser extent) by enforcing regulations strictly or laxly. With an administration taken predominantly from Big Oil boards in its lame duck years, what would you really expect? Bank on this: Once Condoleezza Rice is out of public office, there will be an oil tanker re-re-named after her (look it up).
Slappi
Wow, just looking at some of these off the wall comments makes me very worried for this nation. With people like a few of you multiplied by twenty million or so, I would give the USA about a 15 year life expectancy.
Ed Blokdijk
Many are still referring to $4.00 a gallon, here in California the average is $4.70 a gallon. It does not stop many from filling up their cars. On the bright side we are still well below many of the European countries where the gas is $10 a gallon. According to some political party the middle class earns $250,000 yr. As long as the middle class can afford these prices they will not change much. People like me who must fall on poverty levels will have to go along with the ride. I believe we will see higher prices, much will depend on what will play off between Israel and Iran.
calvin
Here in South Korea gas is $8/gallon but the use of cars has only dropped slightly and they have good public transportation everywhere here. You really don't need a car here and yet despite the high price, people keep driving. On the way to/from work, I see lots of drivers driving alone and the buses are only half full.
Mark
American Man claims Bush was hiding during Katrina (as well as other ridiculous claims). I'm from Iowa and here is my response: Why aren't Hollywood celebrities holding telethons asking for help in restoring Iowa and helping the folks affected by the floods? Why aren't the media asking tough questions about why thefederal government hasn't solved the problem? Or asking where are the FEMA trucks (and trailers)? Why isn't the Federal Government relocating Iowa people to free hotels in Chicago? Why isn't it giving them $200 vouchers that they can spend on alcohol and vice? When will Spike Lee say that the Federal Government blew up the levees that failed in Des Moines? Where are Sean Penn and the Dixie Chicks? Where are all the looters stealing high-end tennis shoes and big screen television sets? When will we hear Iowa Governor Chet Culver say that he wants to rebuild a “vanilla” Iowa, because that’s the way God wants it? Where is the hysterical 24/7 media coverage complete with reports of cannibalism? Where are the people declaring that George Bush hates white, rural people? How come in 2 weeks, you will never hear about the Iowa flooding ever again? We’ll overcome on our own and we sure as heck won’t blame Bush or anyone else!
Alaskan Man
Gas will hit 5 bucks I am sure of it, but I believe in America, and I believe in Americans, so I have to believe that Americans will finally wake up and vote for the right people! Clinton veto'd ANWR years ago when it was passed by congress and senate, if we vote right that wont happen again! As soon as we are creating our own sources on energy in our own country, things will get better. Not any sooner not any later. Get a clue America, ask your leaders what they support, and vote for appropriately.
Anthony
Hey American Man, Bush (or the Presidency) doesn't enact laws. That's Congresses responsibilty. Why don't you have something useful to say instead of your blind bashing of Bush.
Nate
You people are nuts, american man blames the president, john thinks americans can save the planet, only Bill and bullie seem to know whats going on. Its your gongress, they want high fuel cost, then we have to go to them for answers, then they get tho power. Wait till we have to pay for gas, universal health care, free college for everyone, etc. Its a socialist dream of the same 60's hippies that hated the united states back then, and are now in power in congress. There is no oil shortage, period. Ive been in the oil patch for 20 years, just think, 13 years ago oil was at 10 bucks a barrel, what happened? Windfall profits taken by the government, they tax 38 cents a gallon, they produce no oil, none. And yet they want windfall profits on the people that do and who only make about 10 cents a gallon. exxon mobile made a 38 billion dollar profit off its employees that worked for a living producing your gas. The US government made more that 500 billion off of those same people, then taxed thier income on top of that. Pull your heads out people, it aint Bush, it aint big oil, it aint big pharmacy, its your congress, its the left wing libs that are out to make all of us equally poor and miserable.
Don
Europe has been paying $7 a liter, some $20 a gallon for a long time now. But by all means blame Bush, no one else in the White House or our esteemed Congressional brain trust for the past half-century has foreseen any need to increase refining capacities or pushed to expand domestic or offshore drilling while demand has increased to 140 million barrels a day. The rationale to look to this government, especially blaming one man is asinine. What a nation of sheep we've become.
Nick Booe
I don't blame just republicans..I blame every single in office...They all have the same amount of power as the next guy or woman, to put a stop to this madness..However, they allow themselves to be controlled by the economist, who are placing fear in every american...I for one am sick of getting loans for a house, car, college, etc...If this continues, we will be getting loans just to fill up the car...
Jim
I think OPEC is screwing us becasue they know the end of their oil reign is near. There are companies in Georgia and Silcon Valley that have developed processes to convert any bio-mass into high grade oil. And they'll soon be able to produce cheap bio-fuel. The Georgia company says it should eventually be able to produce gas for as little as .25 a gallon. Tha Bakken Formation is a shale oil formation containing an estimated 3-4 billion barrels of oil. It's located in North Dakota and Montana. Production has begun. A refinery will soon be built in Montana that will produce 400,000 barrels of gas every day from Canadian oil shale. This only scratches the surface. A new oil deposite was recently found in the Gulf containing an estimeated 9 billion barrels and it's just off the coast of Louisiana. The list goes on and one. Between the bio-fuel and oil reserves right here in the USA. We could easily provide all our energy needs right here in the good ol USA. Th only thing that could stand in our way of total energy independence is our Government. Time will tell. I hope we all will soon see a day where the Arabs have nothing to export but sand.
Brian
AmericanMan you are an idiot. on 9/11 Bush was forced aboard air force one which shuttled him around the US until they were sure he wasn't being targeted. After Katrina Bush is not allowed to send aid to any state after a disaster unless a request is made by the governor of the state for help from the federal government. Louisiana's governor did not request aid until several days after Katrina hit. Bush is trying to get offshore oil drilling and arctic oil reserves opened up while democrats shoot down these proposals that would relieve dependency on foreign oil and drop gas prices at the pump. and if you knew anything about politics you would know all this stuff has to be sent through congress to get it passed. Now here is why gas prices will drop or why oil producing countries are tying a noose around their own throats. With these high gas price predictions all american car producers have realized that they will go bankrupt. There will soon be a swing from cars that take gas to cars that run on hydrogen (especially with the whole "green" movement going on). Of course it will start first in major cities but it will eventually trickle down through all cities. Once the oil companies realize how much money they are losing they will be forced to drop their gas prices back to around $2. All new cars will be using hydrogen and people driving older cars will still use gas but the ratio between hydrogen and gas users will be almost split in half.
Rod
7 bucks a gallon, and so what? In Europe it's been more than 10 dollars a gallon for many years already, and they seem to have come to terms with it. Why can't we?
Scott
The next spike will definitely hurt. Americans are changing their driving habits as evidenced by a 4% decrease from a year ago. THe weakening of the dollar, strengthening of the euro, high fuel prices, mortgage crisis, unemployeement going up, our debt to China........we are in trouble. It is my understanding that Congress legislates and forwards bills to the Office of the President for the President to sign into law or veto. Where are the bills for the President to sign? Don't blame the President unless he vetos.
brian
$4.00 gasoline hasnt changed the driving habits of america?????? what planet do you live on. i have the honor of living in the rustbelt/midwest. more precisly, Toledo, Ohio. please do me the favor of visiting my fair city and driving its Pothole laden roadways and notice the lack of cars on them on a given weekend. most notably the freeway system. in my opinion, traffic is down by probably 30%. but if you start driving down the side streets in neighborhoods, where these hardworking (those fortunate enough to actually be employeed) Toledoans live, you will have a hard time finding a parking spot, because of the number of people who dont drive to the mall, the park, the next city, or the vacation that they had to cancel on account of $4.00 gasoline. i am sorry, but i have to take exception to your comment and say you are wrong, it has changed our driving habits, and i can only imagine what 5, 6, or $7.00 gasoline will do to my great city, state, and country. the only word that comes to mind is devistate.
Dave
As to American Man's comments.....Dems have been in control of Congress long enough to have done something about speculators driving the markets. I'm sick and tired of people blaming Bush for all the world's problems. Has he made mistakes...yes. Will he make more in the final leg of his term...probably. People like you need to get off your high horse and realize it is EVERYONE (THE GOP AND THE DEMS) in Washington. When you do, you'll realize that it needs an overhaul.
Ben
There is your answer. Blame Bush. Of course you do realize that Bush cannot make policy changes without the Legislature, or did you fail high school government. As for 9/11, what are you talking about? He was on AF1 and demanded to go back to D.C. so he could get on the air and let people know what was going on. Where would you want the President,let me guess...in the Oval Office getting *****!
Analyze This
I don't care what anybody says. Even if the demand for gasoline goes down and the supply goes up, the price will rise to the $5.00 / gal range by the end of 2008. No matter what fuel is used, gasoline, electric, solar, alcohol... the cost to operate a personal vehicle will be at the same cost as operating a good old fashioned gasoline powered vehicle! There will never be a cheap way out! Those who think they have the edge with vehicles that run on cooking oil... forget about it! Your free used cooking oil days will be over! The price for fresh cooking oil will rise and the restaurants that give away used cooking oil or sell it cheap will start selling it for a nickel less than diesel! If you think you are going to ride you bike to work or the train station... get ready for heavy bicycle licensing fees and bike rack charges. I predict that by 2012, you will be taxed for UNDER USAGE of gasoline powered vehicles. The government NEEDS the TAX revenue generated by gasoline sales. You take that away from them and they will find other means to get it!
Matthew
America has not and will not ever be like the UK. Where you can hop a bus, train, or taxi and get pretty much everywhere you want to go. We are a fat, lazy country and will not pay our bills, to fill the tank if it meant we had to walk to the grocery store. The majority of us live in small bedroom communities that are 10 miles or more away from the things we deem important. Unless Wal-mart starts building stores like we build bars, we are going to need our big, gas guzzling cars and SUV's to get groceries, our nails done, and the new $100 sneekers for Jr. Congress needs to bite the bullet and begin drilling anywhere we can find oil. The birds and animals will understand. Believe me, I asked. That will provide a small fix pretty soon while we begin to work on all the other options. Oh, if they decide not to drill, are they going to give every American that makes less than $30,000 a free "green" car? Because we are a car driven, no pun intended, society. We use the car to check the mail. Always have, and always will. So how is the average college kid, or the person working at McDonalds going to afford a new "green" car? We make more than $30,000 a year and would find getting new cars almost impossible. We are not a stupid country and are not stupid voters, so we will remember the Congress person that does nothing to fix this issue. I have one message for Congress, drill or lose your job!
Willard
The price of gas may easily hit $6 by next summer and I would not be supprised if oil hits $200 yet this year. I would however expect that the price of oil will peak sometime in the next 24 months. Although gas is at $4 here, traffic has not decreased. I have bussed or carpooled for most ot the last 25 years. I still see most cars with 1 person. Most goods can be transferred cheaper by rail and yet they are sent by truck. Right now there is no reason for gas prices to not rise as we have not changed our ways. In 24 months expect to see hydrogen cars, electric cars and yes even cars that run on water. The Japanese already have water powered cars in test. They can run on fresh or salt water. The oil producing countries know this and won't let oil prices get much higher. This bump in prices took them by suprise also. They want the price to rise but not enough so that anyone will take action. Keep in mind that almost every country is pumping at their current capacity. Some have even said that it would not make sense for them to add more pumps into the same oil fields as this would only drain the fields faster. Others have untapped fields that they say they will not tap until oil gets over $150 or $200. The related inflation in food prices will definitely be a bigger issue. Even though corn and soybean prices are at record highs, farmers are going bankrupt. The impact of flooding in the midwest will first be felt in 9-12 months.