Signs of demand destruction: the US consumer is saying NO to high gasoline prices

[Owlet]

The NYMEX gasoline futures price hit another recent high last week and is sure to push up gasoline prices at the pump. This development will add to the lingering concerns about the nascent US consumer recovery.



http://soberlook.com/2012/03/us-consumer-is-saying-no-to-high.html

[denverbill]

1. That's unpossible. Prices are determined solely by supply and demand. Ask any Republicker. n/t

[Fuddnik]

2. Agreed.

You have a small supply of money, and the oil companies demand it. All of it!

[Democrats_win]

3. LOL. Another inconvenient truth: big oil is a monopoly.

No free market in sight. Supply and demand does not apply. We learned that during the purely political oil shocks of the 70s. It's all a crock! The best thing is that the American people know THIS fact better than anything else: it's the oil companies stupid.

[louis-t]

4. 'unpossible' Ha!

Free market!!11! Free market!11!!

"Oil speculation is about manipulation of the free market". When I report this to free market types, the spittle runs out of the corners of their mouths and their faces get red...it usually ends a discussion.

[dmallind]

5. While there are certainly factors beyond it, there's something skewed in this supply and demand view

The other 6.7 billion people on the planet, including two countries each with a middle class larger than the US total population seeking to get off the moped and drive cars that gety much worse mileage. WORLD oil demand is up sharply, and oil is sold not only in the US.

[denverbill]

6. Yes I know it is a world market. Teabaggers, and the people they influence, don't.

According to them, all we need to do is drill more/create a pipeline/get out of the way of business and gas will be $2/gallon forever.

They don't give a shit that we are exporting record amounts of refined gasoline. If exports were banned, gas might be $2/gallon, although refiners would just stop refining then.

[th1977sk]

7. so true

[AnneD]

8. They use to say the same thing about......

cigarettes. Now the tobacco companies rely on emerging market for their profits these days. Even France and Italy have been kicking the habit.

For a month now I have been car pooling (down 3 tanks per month to 1). Hubby will start riding the bus next month. He has to pay for parking at his job too. We estimate that we save close to $200 per month between fees and gas.

The refineries have been running a surplus and the oil companies have had to dream up more ways to jack us. Closing refineries in this country is their latest ploy.

There is no free market only crony capitalism.