Gas Prices

Epic Win said:
Cite.
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Dude, you don't need to site. Use your head. There is only so much a person can consume. They only need so much food, transportation, housing, clothes, fuel, medical, etc. Those who make more then $250,000 a year only represent about 5% of the total population and control about half the wealth of this nation but they only account for around 10% of consumer speding. that means they purchase about double on a per capita basis what those in the median income ragnes do but they don't even come close to accounting for the majority of consumer spending in this nation.

http://www.marketingcharts.com/dire...umer-spending-demographic-jan-11-feb-2011jpg/
 
I think Rich is top 5% they account for 37% of spending, Obvioulsy the top 20% spends 60%. Top 20% could care less about gas prices.

Old school just got thier ass handed to them
 
Mott the Hoople said:
That's just simply not true. The bulk of consumer spending comes for the lower half and the upper half depend upon the lower halfs consumption for their prosperity.
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Do you have any idea how stupid, convoluted, and ass backward that is.....you think the rich get money from the people that have no money.....and what? we get coal from oil wells, and heat from icebergs?
 
Mott the Hoople said:
I agree with your observation. It's also why I oppose flat tax schemes, though don't get me wrong, you can go to far on the progessive side of life too.
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LMAO.... the flat tax with standard deduction is the only truly progressive tax code. It is far more progressive than the current system. Corps/wealthy/special interests all bribe (I mean lobby) the politicians for special loopholes/deductions. Just look at how quickly exceptions to Obamacare requirements were doled out.
 
Superfreak said:
LMAO.... the flat tax with standard deduction is the only truly progressive tax code. It is far more progressive than the current system. Corps/wealthy/special interests all bribe (I mean lobby) the politicians for special loopholes/deductions. Just look at how quickly exceptions to Obamacare requirements were doled out.
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He calimed they would be if the states could come up with a better program, so what's your beef? If care is provided, who cares where it comes from?
 
Onceler said:
So many things in America needs a revolutionary kind of overhaul right now - Social Security, military spending, foreign policy. But perhaps the biggest is energy policy; this is such a ticking time bomb, and I don't think it's fear-mongering to say that.

We should have targets for energy independence - set timeframes where we commit to be able to supply x% of our needs domestically, with the ultimate goal of 100%. Drilling, natural gas, alternatives - everything has to be on the table, and pursued aggressively. Everyone on both sides of the aisle wants something, so there is ample room for compromise here.

Obama has to show some leadership on this; the time for half-measures and talk is over. One day, gas is going to go over $4 and stay there...
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Agreed. 70% of our oil consumption (roughly) is used in transportation. We have the tech to switch to nat gas. We should do so now. It should be a national focus. We could do so in a matter of a few years with the bulk of transportation. Not only do we have abundant supply of nat gas, but it is also a cleaner burn and quits taking money and jobs from the US and shipping them overseas.

In addition, we get rid of the stupidity of using 25% of our grain for ethanol and replace grain based with algae based. Algae uses about 1% of the water that crops do for an equivalent amount of oil. It also takes pollutants out of the air and its bi-product is a high carb food source for livestock.... thus no waste.

These two should be a large part of our short term focus. Then we continue to invest in improving alt/clean energy technology to improve areas like Solar (needs to be economically viable without subsidies), Wind, and whatever else our intellectual capacity can come up with.
 
Onceler said:
So many things in America needs a revolutionary kind of overhaul right now - Social Security, military spending, foreign policy. But perhaps the biggest is energy policy; this is such a ticking time bomb, and I don't think it's fear-mongering to say that.

We should have targets for energy independence - set timeframes where we commit to be able to supply x% of our needs domestically, with the ultimate goal of 100%. Drilling, natural gas, alternatives - everything has to be on the table, and pursued aggressively. Everyone on both sides of the aisle wants something, so there is ample room for compromise here.

Obama has to show some leadership on this; the time for half-measures and talk is over. One day, gas is going to go over $4 and stay there...
Click to expand...

Agreed. 70% of our oil consumption (roughly) is used in transportation. We have the tech to switch to nat gas. We should do so now. It should be a national focus. We could do so in a matter of a few years with the bulk of transportation. Not only do we have abundant supply of nat gas, but it is also a cleaner burn and quits taking money and jobs from the US and shipping them overseas.

In addition, we get rid of the stupidity of using 25% of our grain for ethanol and replace grain based with algae based. Algae uses about 1% of the water that crops do for an equivalent amount of oil. It also takes pollutants out of the air and its bi-product is a high carb food source for livestock.... thus no waste.

These two should be a large part of our short term focus. Then we continue to invest in improving alt/clean energy technology to improve areas like Solar (needs to be economically viable without subsidies), Wind, and whatever else our intellectual capacity can come up with.
 
Rana said:
He calimed they would be if the states could come up with a better program, so what's your beef? If care is provided, who cares where it comes from?
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I am referring to the exemptions on the taxation of Cadillac plans.... amazing how fast exceptions were doled out.
 
bravo said:
Oil is about $109 today and the cheap gas at WaWa is $3.70.....109 is a far cry from $148.....
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In April of 2008, national gas average was $3.56 and oil was at $110/brl. In two months gas jumped to $4.05 and oil to $148.

In April of 2010, national gas prices average is $3.68 and oil is at $109/brl.

So as I stated, IF we get up to $148/brl and $4 gas, we will likely see the same demand destruction we saw the last time. $4 gas is NOT sustainable. It wasn't in 2008, it is not now.
 
As I pointed out, the top 20% account for 60% of spending. $4 gas doesn't mean shit to them.

$5 might cut is down below 2% GDP, and it ain't going to $5. $4 is not a shock even long term.
We are much more efficient.
 
Topspin said:
As I pointed out, the top 20% account for 60% of spending. $4 gas doesn't mean shit to them.

$5 might cut is down below 2% GDP, and it ain't going to $5. $4 is not a shock even long term.
We are much more efficient.
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then what happened in 2008 when prices rose that high? i seem to recall it had a huge impact on the economy, truckers etc....
 
The recession was 90% related to the Housing 3 card Montey played by bankers.

How many of you in the top 20% income are driving less?
 
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