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GasBuddy News Article

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Gas Prices Up 1.5 Times in Four Years

WallSt -- According to the Bureau of Labor Statistics, inflation in the U.S. economy was 1.7% in 2012.

As I have written in these pages, the way the official inflation rate is calculated is obsolete. Real inflation is running much higher than 1.7%.

Oil Price Information Service reports that, in 2012, $479 billion in gasoline was purchased by consumers in the U.S. economy. If you compare this number to 10 years ago, Americans are spending two and a half times more on gasoline. (Source: CNN Money, February 4, 2013) than they did in 2002. But consumer spending on gasoline didn’t go up because of increased demand; it went up because oil prices went up.

According to the Energy Department, Americans are now spending four percent of their income to buy gasoline, but they are actually buying lower


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Submitted Feb 08, 2013 By: aservant
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Gas Prices Up 1.5 Times in Four Years Back to Topics
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honda0105
Champion Author Tallahassee

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Message Posted: Feb 12, 2013 5:05:49 AM

then again, we started extremely high in August 2008, came down and went back up.
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honda0105
Champion Author Tallahassee

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Message Posted: Feb 12, 2013 5:05:18 AM

then again, we started extremely high in August 2008, came down and went back up.
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honda0105
Champion Author Tallahassee

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Message Posted: Feb 12, 2013 5:04:34 AM

wouldn't need to be if deregulation hadn't happened some years ago. Or if the specutraitors were reined in a bit.
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honda0105
Champion Author Tallahassee

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Message Posted: Feb 10, 2013 11:01:16 PM

Wolfman: you raise some good points.
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Wolfman_TJack
Champion Author Twin Cities

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Message Posted: Feb 9, 2013 9:02:30 PM

Michael Lombardi who contributed to this newsletter from investment and advertising firm Wall Street Sector Selector said, “As investors, we need to take a serious look at our investment portfolios and ask, ‘How will my investments be affected by an American grown recession?"

How ironic!

An American grown recession that investor advisor Michael Lombardi and investment and advertising firm Wall Street Sector Selector (Your home for ETF Investing) helped contribute to with their Exchange-Traded Funds (ETF's).

Some critics claim that ETFs can be, and 'have been', used to 'manipulate' market prices, including having been used for 'short selling' that has been asserted by some observers (including Jim Cramer of theStreet.com) to have contributed to the market collapse of 2008!!

Anyone can peddle investment advice...look at all of those “ investment trading seminars”. They get your money, you try out their “ secret” formula, it doesn't work, you lose money and the peddlers are gone.

There's a Sucker born every minute!

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slowtrain
Champion Author Georgia

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Message Posted: Feb 9, 2013 5:49:04 PM

Yesterday's news.
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Wolfman_TJack
Champion Author Twin Cities

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Message Posted: Feb 9, 2013 1:10:11 PM

Michael Lombardi is an investment advisor and writes newsletters.

Michael’s Personal Notes for Wall Street Sector Selector - Your home for ETF Investing:

On the other side of the equation, I see gold bullion as the greatest opportunity to offset the paper money printing of world central banks. As the fiat currencies go down in value, gold bullion will rise in value. Central banks are certainly able to turn up their printing presses to print paper money, but they can’t just create more gold, as there is only a limited amount of it.

I will turn bearish on the yellow metal when I see central banks turning off their printing presses; and I don’t expect that to happen for quite a long time. Therefore, I am as bullish as ever on gold bullion.

“As investors, we need to take a serious look at our investment portfolios and ask, ‘How will my investments be affected by an American grown recession?’ You should take what precautionary steps you can right now to protect yourself from a recession in 2007. Maybe you need to cut your own spending or maybe you need to sell some stocks that will take a beating during a recession. You know what tidying up you need to do. Don’t procrastinate…get to it now. And please remember: recessions can happen quickly, stock markets don’t go up during recessions, and the longer the boom before the recession, the longer the recession. Just based on my last point, we have plenty to worry about in 2007.” Michael Lombardi in Profit Confidential, November 13, 2006.

Anyone can peddle investment advice...look at all of those “ investment trading seminars”. They get your money, you try out their “ secret” formula, it doesn't work, you lose money and the peddlers are gone.
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Wolfman_TJack
Champion Author Twin Cities

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Message Posted: Feb 9, 2013 12:48:01 PM

Did you read the disclaimer at the bottom of this advertisement?

Disclaimer: The content included herein is for educational and informational purposes only, and readers agree to Wall Street Sector Selector’s Disclaimer, Terms of Service, and Privacy Policy before accessing or using this or any other publication by Wall Street Sector Selector or Ridgeline Media Group, LLC.
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Wolfman_TJack
Champion Author Twin Cities

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Message Posted: Feb 9, 2013 12:45:46 PM

This article GasBuddy members should have never been allowed to be presented on GasBuddy.com

This article is nothing but a Wall Street Investment and Advertising Blog from:

Wall Street Sector Selector - Your home for ETF Investing!
Contributed by Profit Confidential

An Exchange-Traded Fund (ETF) is an investment fund traded on stock exchanges, much like stocks. An ETF holds assets such as stocks, commodities, or bonds, and trades close to its net asset value over the course of the trading day.

According to a study on ETF returns in 2009 by Morgan Stanley, ETFs missed in 2009 their targets by an average of 1.25 percentage points, a gap more than twice as wide as the 0.52-percentage-point average they posted in 2008. Part of this so-called tracking error is attributed to the proliferation of ETFs targeting exotic investments or areas where trading is less frequent, such as emerging-market stocks, future-contracts based commodity indices and junk bonds.

In a survey of investment professionals, the most frequently cited disadvantage of ETFs was the unknown, untested indices used by many ETFs, followed by the overwhelming number of choices.

Some critics claim that ETFs can be, and have been, used to manipulate market prices, including having been used for short selling that has been asserted by some observers (including Jim Cramer of theStreet.com) to have contributed to the market collapse of 2008.
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Tug237
Sophomore Author Tampa

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Message Posted: Feb 9, 2013 10:50:24 AM

This is manipulation?
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Alaydown
Champion Author Los Angeles

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Message Posted: Feb 9, 2013 10:10:09 AM

gs7101, we are dealing with it. Just because he fraudulently won the election doesn't mean we should treat him as an emperor. We need to change majority parties in the Senate so we can slow Obama's destruction of this country so it is not beyond repair when he leaves office in 4 years.

[Edited by: Alaydown at 2/9/2013 11:11:12 AM EST]
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gs7101
Champion Author San Antonio

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Message Posted: Feb 9, 2013 6:39:57 AM

Still blaming Obama for high gas prices? The election is over -- deal with it!
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gravityhurts
Champion Author North Carolina

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Message Posted: Feb 9, 2013 4:32:38 AM

Thanks Mr Hope and Change.
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KAR120CSII
Champion Author Oregon

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Message Posted: Feb 9, 2013 1:40:58 AM

wow
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RogerB2
Rookie Author Indianapolis

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Message Posted: Feb 9, 2013 1:35:21 AM


O K
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Zonk
Champion Author Michigan

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Message Posted: Feb 8, 2013 11:39:44 PM

rx7racerca: I liked your analysis.
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N5EXY
Champion Author Austin

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Message Posted: Feb 8, 2013 11:10:05 PM

How does something go up a half of a time?
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boatfloyd
Champion Author Jacksonville

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Message Posted: Feb 8, 2013 11:09:16 PM

Inflation
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Glock26
Champion Author Dayton

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Message Posted: Feb 8, 2013 11:04:38 PM

Thanks Obamie!!!
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DustyHorse
Champion Author Virginia

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Message Posted: Feb 8, 2013 11:04:12 PM

Disgusting.
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seahawks
Champion Author Washington

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Message Posted: Feb 8, 2013 11:04:08 PM

just because summer is just around the corner!!!
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rahcat
Champion Author Grand Rapids

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Message Posted: Feb 8, 2013 11:03:06 PM

I'm sure the Obama Regime has a big COLLECTIVE smile.
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Jeff1944
Champion Author South Dakota

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Message Posted: Feb 8, 2013 11:01:36 PM

We all know that us on Social Security with its 1.7% increase suffered at least a 20% increase in gasoline costs in the past 3 years. DUH!!!!!!!!!!!!!!!!!!!!!
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grt197
Champion Author Illinois

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Message Posted: Feb 8, 2013 11:01:26 PM

NO HELP FOR COMMOM MAN
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Mikeyl
Champion Author Cleveland

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Message Posted: Feb 8, 2013 11:01:16 PM

Same story, different day...
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CharlieC08
Champion Author Colorado

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Message Posted: Feb 8, 2013 10:58:51 PM

Gas prices going up won't help.
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rx7racerca
Champion Author Calgary

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Message Posted: Feb 8, 2013 10:58:30 PM

Aviator Rob: the US IMPORTS ~48 percent of the the oil it consumes - roughly 9 million barrels per day. In other words, the US remains, as it has been for decades, the world's largest importer (and consumer) of crude and crude products. US refineries do export around 1.5 million bpd in refined products (which does not count towards domestic consumption or imports, because it is imported, then exported) - gasoline, diesel, bunker fuel, and lubricants - because the US isn't consuming them. That is surplus refining capacity, owing largely to the fact that US consumption has declined by nearly 2 million bpd from its peak in 2004. If those refineries weren't exporting crude (which is imported for them to refine in the first place), they would be closed. Refineries are expensive to operate, and operating costs are nearly the same if they run at capacity, or at 50% - which means that if a refinery can't find buyers for nearly its full capacity, it will shut down - it won't be competitive in the market, leading to further declines in sales, in a vicious cycle. Since Americans aren't buying as much fuel, those refineries either find foreign buyers, or shutter.

Don't confuse surplus refining capacity with some oil industry conspiracy to drive up prices (that's Wall Street and the futures market's job!). The US currently has surplus refining capacity, and an inadequate pipeline network to get domestic oil to markets where its lower price could help high gas prices caused by reliance on imports of top-dollar Brent and OPEC crudes - the Northeast and California in particular. US exports of refined products are just keeping Americans employed, and shareholders happier, but are not a cause of higher domestic prices - in fact, in many cases it would be the opposite, because those refineries that are exporting some portion of their output would either have higher unit costs, or shut down, in either case leading to higher domestic prices of refined products..

[Edited by: rx7racerca at 2/9/2013 12:02:08 AM EST]
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bonzoonfmb
Champion Author Florida

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Message Posted: Feb 8, 2013 10:58:06 PM

Gas prices are too high.
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snagged
Veteran Author Akron

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Message Posted: Feb 8, 2013 10:56:08 PM

Gas is $3.62 and on its way to $4.
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CISA
Champion Author Orange County

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Message Posted: Feb 8, 2013 10:52:24 PM

next
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Aviator_Rob
Champion Author New York

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Message Posted: Feb 8, 2013 10:48:24 PM

And boy, the Internet trolls are thick tonight!

Don't you fellas get tired of regurgitating the same tired arguments, over and over again?
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Aviator_Rob
Champion Author New York

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Message Posted: Feb 8, 2013 10:47:12 PM

So tell us, @AKmailman, who do you trust?

I'm guessing the answer is "Nobody".
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rjoeh
Champion Author Michigan

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Message Posted: Feb 8, 2013 10:46:02 PM

I agree with the premise of the article from a financial perspective and experience.
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clermont40miles
Champion Author Cincinnati

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Message Posted: Feb 8, 2013 10:45:03 PM

Lousy web page. Article not much better. Not very informative.
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Aviator_Rob
Champion Author New York

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Message Posted: Feb 8, 2013 10:45:02 PM

For the last time, @Lukus, gas taxes are not a percentage of gas prices. It's a fixed tax price per gallon. Tax revenue would be higher if Americans bought MORE gas but since consumption is down, so is tax revenue.
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BREW9
Champion Author Tampa

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Message Posted: Feb 8, 2013 10:44:29 PM

and climbing
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Aviator_Rob
Champion Author New York

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Message Posted: Feb 8, 2013 10:43:00 PM

How's that plan working, @A_NY_Outlaw? Here we are five years after the Great Recession began and nobody on Wall Street has gone to jail. In fact wealth inequality is greater than ever so tell me again how the President is redistributing wealth from the rich and middle class to the poor.

Right now, the Rich are redistributing wealth from the Middle Class. They would do the same with the Poor but it's not worth the effort.
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Doomsday64
All-Star Author Austin

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Message Posted: Feb 8, 2013 10:42:23 PM

And going higher!
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Aviator_Rob
Champion Author New York

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Message Posted: Feb 8, 2013 10:39:54 PM

Funny you mentioned guns vs. butter, @mstearno. Which do you want? We can't afford both and you can't eat guns.
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Aviator_Rob
Champion Author New York

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Message Posted: Feb 8, 2013 10:38:40 PM

George Walker Bush and Dick Cheney, @scubadaniel.

Mmmm, mmmm, mmmm.
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Aviator_Rob
Champion Author New York

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Message Posted: Feb 8, 2013 10:37:45 PM

What a waste of an article. Basically a thinly veiled advertisement to buy gold. Why are gas prices up? Because Big Oil is exporting petroleum products out of the country as fast as the refineries can turn them out.

There is no overabundance of supply because the rest of the world is buying it up as fast as they can. China won't be happy until all 1.3 billion of their people have a car.
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yakstar
Champion Author Montreal

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Message Posted: Feb 8, 2013 10:34:19 PM

sounds rather like economics to me...
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Blue48
Champion Author Illinois

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Message Posted: Feb 8, 2013 10:30:51 PM

BUMMER!
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Rainy1
Champion Author San Diego

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Message Posted: Feb 8, 2013 10:29:58 PM

Hate when that happens!
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skb69sa
Champion Author San Antonio

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Message Posted: Feb 8, 2013 10:28:58 PM

And 3.5 times since early 2001
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movietracker
All-Star Author Pennsylvania

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Message Posted: Feb 8, 2013 10:27:16 PM

So what's new?
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scubadaniel
Champion Author Dayton

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Message Posted: Feb 8, 2013 10:25:51 PM

Barack Hussain Obama, mmm, mmm, mmm.
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MG_Sputnik
Champion Author Philadelphia

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Message Posted: Feb 8, 2013 10:23:41 PM

Change we can continue to believe in. Let's finish what we started. Yeah like destroying America! We're all doomed!
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mstearno
Champion Author Dayton

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Message Posted: Feb 8, 2013 10:22:52 PM

I love it blame the gas stations...
How about our do nothing energy policy???
THANKS NOBAMA
and our weak dollar
you don't have to go past econ 101 to learn guns vs. butter
and printing money to flood the supply causes inflation

look at history
we created counterfeit currency to help tumble IRAQ
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TXRanger09
Champion Author Dallas

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Message Posted: Feb 8, 2013 10:22:31 PM

Interesting article that winds through gas prices, around monitory values, and into buying gold. What do you think the angle is?
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