GasBuddy Blog

Message Forum - Read Message

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Economy Hasn't Slipped on Oil Prices—Yet	Post a Reply Back to Topics

race2IT Champion Author Fort Worth Posts:1,772 Points:724,315 Joined:Oct 2008	Message Posted: Mar 18, 2012 5:06:17 PM Ignore race2IT Report Abuse By BEN CASSELMAN and PHIL IZZO Rising oil prices haven't stalled the U.S. economic recovery. But that doesn't mean they won't in the months ahead. High oil prices can ripple through an economy, sapping consumer confidence, eating into spending, driving up prices and ultimately slowing hiring and investment. The good news is that hasn't happened yet. "Consumers have yet to get really rattled," said Ellen Zentner, an economist at Nomura Securities International. On Friday, a Thomson-Reuters University of Michigan report noted a slight decline in consumer sentiment from its previous reading, but the index remains above levels recorded at the end of last year when prices began to rise. Of the 50 economists who responded to the Wall Street Journal's monthly forecasting survey, Visit The Wall Street Journal for full article

race2IT

Champion Author
Fort Worth

Posts:1,772
Points:724,315
Joined:Oct 2008

Message Posted: Mar 18, 2012 5:06:17 PM

Ignore race2IT Report Abuse

By BEN CASSELMAN and PHIL IZZO

Rising oil prices haven't stalled the U.S. economic recovery. But that doesn't mean they won't in the months ahead.

High oil prices can ripple through an economy, sapping consumer confidence, eating into spending, driving up prices and ultimately slowing hiring and investment. The good news is that hasn't happened yet. "Consumers have yet to get really rattled," said Ellen Zentner, an economist at Nomura Securities International.

On Friday, a Thomson-Reuters University of Michigan report noted a slight decline in consumer sentiment from its previous reading, but the index remains above levels recorded at the end of last year when prices began to rise.

Of the 50 economists who responded to the Wall Street Journal's monthly forecasting survey,
Visit The Wall Street Journal for full article

REPLIES (newest first)Ignore Short Messages

KAR120CSII Champion Author Oregon Posts:3,172 Points:620,345 Joined:Apr 2010	Message Posted: Mar 19, 2012 7:34:51 PM Ignore KAR120CSII Report Abuse Agree, the article is not on target -- just go out in the country and you'll see what energy prices have done.
Sneakers55 Champion Author Houston Posts:51,290 Points:2,142,950 Joined:Nov 2005	Message Posted: Mar 19, 2012 1:54:32 PM Ignore Sneakers55 Report Abuse Every time oil prices go up the economy hiccups. I see no reason for it to be different for Obama.
alwaysridin88 Champion Author Ohio Posts:1,441 Points:564,750 Joined:Jul 2011	Message Posted: Mar 19, 2012 12:37:47 PM Ignore alwaysridin88 Report Abuse It's coming. Our prices for food, services, shipping, etc are rising, so we will see the increase soon.
dr047 Champion Author Cleveland Posts:2,587 Points:516,470 Joined:Aug 2010	Message Posted: Mar 19, 2012 11:59:04 AM Ignore dr047 Report Abuse Gas went UP 23¢ today to $3.95
clpassenubye Champion Author Los Angeles Posts:3,359 Points:752,605 Joined:Mar 2011	Message Posted: Mar 19, 2012 11:27:06 AM Ignore clpassenubye Report Abuse Yet
dsaine Champion Author North Carolina Posts:2,992 Points:631,520 Joined:May 2011	Message Posted: Mar 19, 2012 7:57:45 AM Ignore dsaine Report Abuse It's coming.
scu227 Champion Author New Haven Posts:4,147 Points:770,905 Joined:Feb 2011	Message Posted: Mar 19, 2012 7:38:14 AM Ignore scu227 Report Abuse It's only a matter of time!
aquarinut Champion Author British Columbia Posts:1,628 Points:436,855 Joined:Jul 2011	Message Posted: Mar 19, 2012 1:45:08 AM Ignore aquarinut Report Abuse And when the economy slips again.... I hope the specs get hit the hardest!!!
tankerCA Champion Author Chico Posts:2,579 Points:353,590 Joined:Mar 2011	Message Posted: Mar 19, 2012 12:58:44 AM Ignore tankerCA Report Abuse Time is not on our side.
edgarCA Champion Author Oakland Posts:1,581 Points:241,770 Joined:Jun 2009	Message Posted: Mar 19, 2012 12:35:06 AM Ignore edgarCA Report Abuse I am not convinced.
anascom Champion Author Hamilton Posts:1,593 Points:553,115 Joined:Feb 2011	Message Posted: Mar 19, 2012 12:21:46 AM Ignore anascom Report Abuse i don't agree with the article. it seems a kind of cheap polishing.
WalRus49 Champion Author Boston Posts:4,070 Points:867,890 Joined:Nov 2010	Message Posted: Mar 18, 2012 11:50:24 PM Ignore WalRus49 Report Abuse More organized mayhem and pillage............
bigmoo63 Champion Author Kalamazoo Posts:1,275 Points:83,105 Joined:Nov 2009	Message Posted: Mar 18, 2012 10:33:12 PM Ignore bigmoo63 Report Abuse WST must be smoking some of that Obama tobacco. Of course it hasnt slipped....It NEVER recovered in the first place.
davenles Champion Author Texas Posts:3,196 Points:717,910 Joined:May 2011	Message Posted: Mar 18, 2012 10:24:09 PM Ignore davenles Report Abuse At this rate, it will before long.
KAR120CSII Champion Author Oregon Posts:3,172 Points:620,345 Joined:Apr 2010	Message Posted: Mar 18, 2012 9:15:47 PM Ignore KAR120CSII Report Abuse Yes it has. WSJ just wants to protect the corporations and put us to sleep.
fedupMN Champion Author Twin Cities Posts:2,949 Points:572,480 Joined:Mar 2011	Message Posted: Mar 18, 2012 8:24:48 PM Ignore fedupMN Report Abuse Just a matter of time before it impacts everything and inflation starts rearing its ugly head. OOPS, my bad, President Reagan removed food and energy from the CPI calculation..... I guess that means everything will be OK.
dal1 Champion Author Illinois Posts:1,183 Points:147,165 Joined:Jun 2007	Message Posted: Mar 18, 2012 8:23:44 PM Ignore dal1 Report Abuse I think consumers ARE getting rattled as gas goes to $4 & above
Cothrom Champion Author South Carolina Posts:1,753 Points:724,645 Joined:Sep 2005	Message Posted: Mar 18, 2012 7:45:28 PM Ignore Cothrom Report Abuse We depend on oil for transfer of all our good around the country and beyond. If you haven't seen it, open your eyes
Lugi1967 Champion Author Ohio Posts:4,783 Points:1,001,270 Joined:Jun 2010	Message Posted: Mar 18, 2012 7:35:59 PM Ignore Lugi1967 Report Abuse It sure isn't helping though
drpepperTX Champion Author Texas Posts:8,939 Points:751,985 Joined:Apr 2011	Message Posted: Mar 18, 2012 7:34:45 PM Ignore drpepperTX Report Abuse Oil prices are part of the equation, but the economy is still hampered by the housing situation, until that turns around we are trapped. Thanks Barney Frank! Hope you find a great home when you get married! ;=}
Rappcommuter Veteran Author Virginia Posts:472 Points:554,430 Joined:Apr 2011	Message Posted: Mar 18, 2012 7:27:50 PM Ignore Rappcommuter Report Abuse Makes sense to me if the prices for gas keep going up, the cost to do business is going to go up. I disagree with the government getting involved in business. I don't think we should tell them what price or if they can sell overseas, but I also I don't think we should be giving oil companies incentives or tax breaks, especially with their record profits.
Venzadriver Champion Author Florida Posts:1,325 Points:360,115 Joined:Dec 2010	Message Posted: Mar 18, 2012 7:21:05 PM Ignore Venzadriver Report Abuse Yeah right.
Tigercat88 Champion Author North Carolina Posts:3,194 Points:616,805 Joined:Jul 2011	Message Posted: Mar 18, 2012 7:20:59 PM Ignore Tigercat88 Report Abuse Most of the Economists have no idea of the real world we live and work in.
BluWahoo Champion Author Pensacola Posts:3,104 Points:378,715 Joined:Mar 2012	Message Posted: Mar 18, 2012 7:15:56 PM Ignore BluWahoo Report Abuse Put more money in a consumer's pocket by creating mandatory nationwide business hours. Monday-Thursday 10 hr days, with the exception of Hospitals and Emergency Personnel.
leraar2 Champion Author Massachusetts Posts:3,759 Points:786,705 Joined:Mar 2011	Message Posted: Mar 18, 2012 6:57:29 PM Ignore leraar2 Report Abuse stop making it so cheap for oil companies to sell our oil to china. impose EXPORT CONTROLS and TARIFFS, making oil more expensive for China and India, making their products more expensive. making our gasoline HERE cheaper, and thus OUR products more competitive, creating jobs HERE.
lonewolf_947 Champion Author New Hampshire Posts:1,280 Points:575,845 Joined:Mar 2011	Message Posted: Mar 18, 2012 6:09:02 PM Ignore lonewolf_947 Report Abuse Its ashame that with the price of gas rising, it affects everything since most is transported by truck ...... as prices of everything going up including food, when the prices of oil & gas stabilizes, you'll never see the prices of the items that increased going down ...... that's what hurts & we have to live with it....
graceman Champion Author Baltimore Posts:4,968 Points:1,158,725 Joined:Jun 2008	Message Posted: Mar 18, 2012 6:00:07 PM Ignore graceman Report Abuse It is only common sense that higher gas prices equals higher everything else prices.
kress999 Sophomore Author Alabama Posts:218 Points:367,525 Joined:May 2011	Message Posted: Mar 18, 2012 5:59:22 PM Ignore kress999 Report Abuse Watch out for the NObama smoke and mirrors, then the slight of hand. This President is a master of distraction not to mention the great spin master.
mandoid Champion Author Colorado Springs Posts:7,302 Points:1,526,220 Joined:May 2008	Message Posted: Mar 18, 2012 5:38:33 PM Ignore mandoid Report Abuse Oh it has, the Admin still is able to hide the numbers.
esq262 Champion Author Asheville Posts:2,897 Points:647,515 Joined:Jul 2011	Message Posted: Mar 18, 2012 5:23:49 PM Ignore esq262 Report Abuse It will soon. Gird yourselves.