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Gas at $4/gallon?


Snowguy716

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ACTUAL VISUAL CONFIRMATION!! Gas in N.Augusta, SC from right across from downtown Augusta, GA to the interstate was $1.95-1.99!

I didn't see it that cheap anywhere else in SC along I-20 or I-77 last night.

What's crazy is that one you cross the river into Georgia it bumps up like 40 cents, which means that everyone, including me, who is the laziest person in the tri-state area, is heading to North Augusta to get gas. I love it though. It's like 20 bucks to fill my car up.

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Oil prices are back on the uptick again since Venezuela and Nigeria decided to cut production to keep prices from falling further. You'll start to see a slow trickle upwards in prices again.

Prices here went from $2.12 late last week to $2.19 this morning.

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Newsweek says oil prices could plummet in between 2010 and 2012

http://www.msnbc.msn.com/id/15081350/site/newsweek/

In fact, the current oil crisis has nothing to do with a catastrophic shrinking of global oil resources, while the specter of rising Asian demand is largely a myth-China has huge potential to reduce its oil consumption. Supply is tight because two decades of low prices discouraged the exploration and development of new fields in the world's most oil-rich areas. That has cut spare production capacity-the critical cushion needed to cope with crises-to just 2 to 3 percent of global consumption. This makes the price of oil a hostage to political and climatic events. There has been no objective rise in oil-state instability, only in the market's vulnerability to speculation-gloomy or not.

If investment continues at current rates, however, the global production capacity of crude could increase by 12 million to 15 million barrels per day between 2010 and 2012, outstripping expected demand growth of about 7 million to 9 million barrels per day. This would boost spare capacity and drive prices down. Of course, the spending boom depends on high prices, which depend in turn on demand. And while much of the industrial world seems to assume that global demand will continue to rise sharply, oil producers most assuredly do not (following story). They worry demand may pop like a bubble, as has often happened in the past.

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Prices will be rising again by mid-November. It is absurd to think the oil companies that control the Prepublican party have no control over prices, because history says otherwise. Prices also fell more than demand should allow before the 2002 and 2004 elections, only to go right back up, higher than ever.

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A month ago, I said:

Prices will be rising again by mid-November. It is absurd to think the oil companies that control the Prepublican party have no control over prices, because history says otherwise. Prices also fell more than demand should allow before the 2002 and 2004 elections, only to go right back up, higher than ever.
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I just noticed today that my usual station went from 2.12 to 2.16. Looking around, I noticed some other stations had similar increases, but others held steady. Individual stations time their price increases around gasoline shipments, so not all will increase at once.

Don't be surprised if you see an increase soon, if you haven't already.

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