4 Gas Means We’re Spending More at Pump,Less Everywhere Else

[LICKING COUNTY FAN]

Much like the summer of 2008, when oil spiked to $147 a gallon and national gas prices topped out at $4.11, recent surveys suggest drivers are buying less fuel as a result of price increases. Furthermore, higher gas prices are taking $100 billion out of consumers pockets, according to a Fortune article, citing Goldman Sachs economist Andrew Tilton. "A key reason for concern is the sharp rise in gasoline prices so far in 2011 — nearly 70 cents per gallon — which is siphoning off household income at a run rate equivalent to $100 billion per year." That certainly won't help with the economic recovery.

http://finance.yahoo.com/blogs/daily-ti ... 2-007.html

[Boonedawg]

Spending more for EVERYTHING that gets delivered by truck. But we can't drill our own oil........well we can but we all know who would rather buy from the pisslamic world.

[kantuckyII]

I believe this administration is elated that gasoline prices are climbing as it meets their (misguided) environmental agenda. The ONLY thing that will slow it down is the coming 2012 elections. It would serve one man well to see them dip slightly right before that November rolls around to boost his votes. After that? Katie Bar The Door! Nothing to lose after that time and we'll really see things go sour!

[LICKING COUNTY FAN]

If we put in a rep or bring back the Dem nothing will change. Both parties have shown they care not about this country.

[kantuckyII]

Maybe it's because you two are old but I'm not that cynical yet

[mikepike]

Blame Bush/Cheney- they got blamed for everything else.

[LICKING COUNTY FAN]

I have noticed a big drop of cars on the road on my way to and from work.

One my weekly trip into Heath there seem to be less and and less people out.

Anyone noticing this in your area?

[kantuckyII]

WASHINGTON -- President-elect Barack Obama and his energy team could face the most inauspicious climate in years for pushing ahead with their plans to remake U.S. energy strategy.

Mr. Obama plans soon to introduce his energy and environment team, which will include Nobel Prize-winning physicist Steven Chu as energy secretary and former Environmental Protection Agency Administrator Carol Browner as White House energy adviser.

The team's makeup shows that Mr. Obama plans to put a heavy emphasis on combating climate change and promoting technologies to wean the U.S. off imported oil. He is packaging such priorities as a way to boost employment and help the economy by pouring money into efficiency projects.

But the next administration will face a range of obstacles on the energy front, from plummeting oil prices and a declining economy to potential rifts among Mr. Obama's own advisers.

In a sign of one major internal difference, Mr. Chu has called for gradually ramping up gasoline taxes over 15 years to coax consumers into buying more-efficient cars and living in neighborhoods closer to work.

"Somehow we have to figure out how to boost the price of gasoline to the levels in Europe," Mr. Chu, who directs the Lawrence Berkeley National Laboratory in California, said in an interview with The Wall Street Journal in September.

You're getting there! Keep up the good work!

[kantuckyII]

The U.S. Treasury would pay oil companies at least $31 billion to use 69 billion gallons of corn ethanol over the next five years. Thirty-nine percent of all corn grown in the United States is used to make ethanol.

Compared to gasoline and diesel, the gas mileage in ethanol is the least. Ethanol only has 30.40 energy content, which yields about 34% less gas mileage than gasoline. Because E85 fuel only has around 80% of the energy of gasoline, full usage of the said fuel alternative remains to be in question. Certainly, the lack of energy content in E85, which accounts for the two percent to 30 percent loss in gas mileage, is not to be discounted especially by the public. Also, it has been observed with fuel combination, gas mileage drops as there is less gasoline present in the fuel mixture. Taking a look at gasohol, which is a mixture of 10% ethanol and 90% gasoline, energy content is at 28.06 MJ/L. If you will compare this E85, which is a mixture of 85% ethanol and 15% gasoline, energy content is lesser as the ethanol content is much higher than the gasoline. Now, you can only imagine how less the energy content is in pure ethanol. E100, which is the pure ethanol fuel, only has 19.59 MJ/L energy content. This is way far behind the 29 MJ/L energy content that pure gasoline gives, hence using pure gasoline yields more gas mileage.

[Dean]

The main problem is speculation in the futures market. Again, Wall Street types have shown that the only thing that matters to them is making a profit---the country be damned.

[kantuckyII]

Open up Alaska and the Gulf and you'll see the difference

[kantuckyII]

Blame who you want, I know who I'm going to blame. I'm going to blame the people who won't give out those gulf oil drilling permits and who stopped Shell from drilling in Alaska. Thankfully, Cuba will be getting that oil with China and we can buy it off them. Heaven forbid we actually keep that money right here in the United States by using domestic sources