Have You Seen the Price of Gas Lately? Oil Consumption Down for First Half of 2006

 

Everyone was screaming when they saw gasoline prices escalate over the $3.00 a gallon mark. There was talk that they would go to $4.00. Of course this was never reported as a supply and demand issue, but more of a political one. Then a funny thing happened on the way to the gas pumps. Gas prices began to fall.  

O’Connor says $2 gasoline “is more likely than unlikely” if the Gulf of Mexico isn’t hit by hurricanes and if there isn’t a flare-up of tensions in oil-producing regions.

According to OPEC, World oil demand growth was weaker than expected in the first half of 2006. In some places like Iowa, the price of gas has actually come down under $2.00 a gallon. Gas prices in Missouri at $1.85 a gallon. Consumer confidence Skyrockets on lower gas prices.

The RBC Cash Index, based on the results of the international polling firm Ipsos, showed confidence rebounding to 93.7 in early September. That marked an improvement from August, when consumer confidence sank to a three-month low of 74.8.

OK, now that gas prices have lowered, can we please develop an energy policy in this country while we are not in a crisis. Can we stop our dependence on foreign oil and look to our own back yard as well as create alternative methods.

UPDATE: 9/18/06 – Gasoline price down 12 cts/gallon to $2.50: govt

WASHINGTON (Reuters) – The freefall in U.S. gasoline prices continued as the average pump price dropped 12 cents over the last week to $2.50 a gallon, the government said on Monday.

The fall comes on the heels of an 11-cent drop the previous week.

The national price for regular unleaded gasoline is down 29 cents from a year ago and the lowest since late March, according to the federal Energy Information Administration’s weekly survey of service stations.

The average pump price has now fallen 50 cents in the last month as U.S. crude oil futures prices plummeted from their high of $78.40 a barrel in July to settle at $63.80 a barrel on Monday.

Posted September 15, 2006 by
Energy, Politics, Polls | 11 comments


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  • Comments

    11 Responses to “Have You Seen the Price of Gas Lately? Oil Consumption Down for First Half of 2006”

    1. Son of a Gun on September 15th, 2006 1:07 pm

      If the CPSC would cut the bull crap and LET these people continue their research we’ll be running on basically water before you know it. http://www.unitednuclear.com/legalaction.htm

    2. AYFIT on September 15th, 2006 10:44 am

      I heard something disturbing the other day.We are presently paying a 20.00 terrorist premium per barrell on crude.Do the math.

    3. Scared Monkeys on September 15th, 2006 11:36 am

      There are so many things that can be done, somebody (ie politicians) need to get off their collective a$$’s and act. Stop whining about drilling, or nuclear or conserving only and create a comprehensive energy policy now. Not when we are in crisis mode, but now.

      Plan for the immediate, medium and long term.

    4. JWM on September 15th, 2006 11:41 am

      I just perfected my mag-gen for home use. I havent had to pay for electricity for my home for over a year. I use electric heat in the winter and electrical a/c unit in the summer. The unit i built sits outside in a heat pump unit but contains my generator that makes a consistant 10k of wattage at 115 volts. now its only working at 50% capacity. It’s built on an old wind powered gen that i reengineered with opposing neobodium magnets one set are slightly angled to provide a vectoring flux against the other set of opposing magnets. Soon i will have a version of this unit to run an electric car as i am fed up with being a slave to the oil companies. Nessecity is the mother of invention.

      JWM Engineering

    5. Miss-Underestimated on September 15th, 2006 11:49 am

      We have every resource that can be done here on American soil. It appears to me this is the larger part of the Global Economy, what else would Middle East import other than terrorists?

    6. punkingale on September 15th, 2006 5:36 pm

      Buy the low price gas while you can. After the election, it will skyrocket.

    7. KELMAL on September 15th, 2006 7:59 pm

      punkinggale, Do you really think our government is that CROOKED ???????????

    8. Maggie on September 15th, 2006 10:20 pm

      Interesting post JWM.

    9. punkingale on September 17th, 2006 4:28 pm

      I already typed my comment to Kelmal.

    10. punkingale on September 17th, 2006 4:31 pm

      Why have I been banned???

      ________________

      SM:   You haven’t been banned.   For some reason your posts are going to the spam folder.   When I see them there I remove them and process them as usual.   Your last post went through and so did this one.   I don’t know why some posts go to the spam folder. (klaasend)

    11. punkingale on September 17th, 2006 7:54 pm

      Let me try to answer Kelmal’s question one more time. Yes, I do. Anything can be manipulated to serve a purpose.

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