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Energy Why Lower Natural Gas Prices Help the U.S. Only a Little

Bloomberg Businessweek -- There’s a rule of thumb that says a $10 rise in the price of a barrel of oil reduces gross domestic product growth by anywhere from 0.2 to 0.5 percentage points. Applied over the past six months, when crude prices rose by about $30 from early October to the end of March, that means dearer oil might’ve chewed as much as 1.5 percent out of GDP growth during the last two quarters. Not a trivial amount considering GDP increased 3 percent in the fourth quarter of 2011. Economists surveyed by Bloomberg tend to think the economy grew just 2.2 percent in the first three months of 2012, when the price of gas really took off.

Oil is our economy’s most important raw material. The price of it (and therefore, gasoline) impacts the price of just about everything we buy, from groceries to clothes to app

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Submitted Apr 27, 2012 By: SUPPER

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cleangasprices Veteran Author Vancouver Posts:315 Points:72,515 Joined:May 2011	Message Posted: Apr 27, 2012 8:38:16 PM Ignore cleangasprices Report Abuse No change, more vehicles are still on gas
gws2980 Champion Author Philadelphia Posts:2,196 Points:504,040 Joined:Oct 2010	Message Posted: Apr 27, 2012 8:36:12 PM Ignore gws2980 Report Abuse Now we have more home oil but no refineries
jimgraham Champion Author Akron Posts:10,382 Points:1,982,035 Joined:Oct 2007	Message Posted: Apr 27, 2012 8:30:20 PM Ignore jimgraham Report Abuse What happened to the link???????????????????????????????
MDTDriver Champion Author California Posts:9,739 Points:2,157,570 Joined:Jul 2006	Message Posted: Apr 27, 2012 8:26:38 PM Ignore MDTDriver Report Abuse Not how I see it!
BooHooMI Champion Author Michigan Posts:1,556 Points:344,610 Joined:Sep 2010	Message Posted: Apr 27, 2012 8:23:59 PM Ignore BooHooMI Report Abuse ok
bdlewis Champion Author Colorado Posts:1,384 Points:382,905 Joined:Oct 2008	Message Posted: Apr 27, 2012 8:23:06 PM Ignore bdlewis Report Abuse Who's getting all the profit.
kdparham Veteran Author New Jersey Posts:287 Points:1,566,265 Joined:Jun 2008	Message Posted: Apr 27, 2012 8:18:56 PM Ignore kdparham Report Abuse Interesting
nimpy Champion Author Indianapolis Posts:8,150 Points:1,704,030 Joined:Oct 2007	Message Posted: Apr 27, 2012 8:18:49 PM Ignore nimpy Report Abuse just a very little
MJIOWA Champion Author Iowa Posts:4,838 Points:1,080,870 Joined:Nov 2009	Message Posted: Apr 27, 2012 8:15:22 PM Ignore MJIOWA Report Abuse very good
Gas Thirsty Champion Author Los Angeles Posts:4,887 Points:3,230,645 Joined:Mar 2003	Message Posted: Apr 27, 2012 8:06:54 PM Ignore Gas Thirsty Report Abuse Interesting article.
wkb03 Champion Author Georgia Posts:1,975 Points:595,975 Joined:Aug 2011	Message Posted: Apr 27, 2012 8:05:41 PM Ignore wkb03 Report Abuse Why are we exporting refined gas? Keep it at home
Senrac Champion Author Lincoln Posts:1,594 Points:305,635 Joined:Mar 2010	Message Posted: Apr 27, 2012 8:00:40 PM Ignore Senrac Report Abuse ok
theschmuck Champion Author Michigan Posts:2,932 Points:1,514,550 Joined:Mar 2007	Message Posted: Apr 27, 2012 7:56:59 PM Ignore theschmuck Report Abuse 'mgune9 and GoneUpAgain' both have good replies.
carefrey Champion Author Orlando Posts:5,545 Points:1,161,435 Joined:Sep 2009	Message Posted: Apr 27, 2012 7:53:37 PM Ignore carefrey Report Abuse Yes, it should help, but it is not!
paulydel Champion Author Delaware Posts:8,799 Points:848,800 Joined:Jan 2008	Message Posted: Apr 27, 2012 7:53:35 PM Ignore paulydel Report Abuse We need the infustructure to grow more so that it would be easier to fuel up.
edgarCA Champion Author Oakland Posts:1,581 Points:241,770 Joined:Jun 2009	Message Posted: Apr 27, 2012 7:53:26 PM Ignore edgarCA Report Abuse Have a great weekend.
greshams Champion Author Cincinnati Posts:2,019 Points:378,350 Joined:Nov 2011	Message Posted: Apr 27, 2012 7:53:09 PM Ignore greshams Report Abuse if only our wages were high enough to afford the rise of gas prices, food prices, clothing prices, etc.
mgune9 All-Star Author Dallas Posts:914 Points:200,395 Joined:Feb 2012	Message Posted: Apr 27, 2012 7:49:05 PM Ignore mgune9 Report Abuse Like I've said before - no incentives for any level of government to really care about high gas prices - they like the tax revenue and the banks like the higher fees paid to them at the pump for the use of their plastic cards.
stevencr Champion Author Ohio Posts:5,671 Points:1,437,690 Joined:Mar 2009	Message Posted: Apr 27, 2012 7:45:59 PM Ignore stevencr Report Abuse So why don't we drill more and use what we have right here at home?
TXHUNTER1 Champion Author Austin Posts:2,711 Points:295,760 Joined:Dec 2006	Message Posted: Apr 27, 2012 7:43:58 PM Ignore TXHUNTER1 Report Abuse OK
GoneUpAgain Champion Author Atlanta Posts:7,624 Points:1,348,175 Joined:May 2004	Message Posted: Apr 27, 2012 7:41:58 PM Ignore GoneUpAgain Report Abuse The problem is natural gas prices aren't dropping for the consumer (at least not me). My utility bill is higher this year than last despite all the lying news I see about huge drops in natural gas prices. When is it going to trickle down to us? Never. Screw the little guy!
Old Timer Champion Author Akron Posts:3,757 Points:1,265,940 Joined:Sep 2003	Message Posted: Apr 27, 2012 7:40:17 PM Ignore Old Timer Report Abuse Okay
anayguy Sophomore Author Akron Posts:243 Points:1,355,890 Joined:Sep 2008	Message Posted: Apr 27, 2012 7:39:15 PM Ignore anayguy Report Abuse agreed rjhenn
rjhenn Champion Author Des Moines Posts:22,459 Points:2,231,875 Joined:Aug 2005	Message Posted: Apr 27, 2012 7:35:53 PM Ignore rjhenn Report Abuse Obviously most posters aren't even trying the link, or there'd be more complaints about it. Try this one.
stephen2155 Champion Author North Carolina Posts:3,039 Points:660,955 Joined:Jun 2011	Message Posted: Apr 27, 2012 7:34:40 PM Ignore stephen2155 Report Abuse Ok
Caribou2011 Champion Author Ohio Posts:3,781 Points:771,760 Joined:Feb 2011	Message Posted: Apr 27, 2012 7:33:10 PM Ignore Caribou2011 Report Abuse Ok
JagXKR Champion Author British Columbia Posts:3,169 Points:1,093,480 Joined:Dec 2009	Message Posted: Apr 27, 2012 7:30:55 PM Ignore JagXKR Report Abuse As with all rules of thumb there are exceptions.
mageetp Champion Author British Columbia Posts:3,221 Points:628,805 Joined:Aug 2011	Message Posted: Apr 27, 2012 7:29:32 PM Ignore mageetp Report Abuse Natural gas should be more widely used for many other products and machines.
DblChek Champion Author San Antonio Posts:2,345 Points:615,245 Joined:Jul 2008	Message Posted: Apr 27, 2012 7:28:20 PM Ignore DblChek Report Abuse 404 on the link...??
swrestler Champion Author Grand Rapids Posts:6,150 Points:1,574,100 Joined:Oct 2008	Message Posted: Apr 27, 2012 7:26:49 PM Ignore swrestler Report Abuse With All The Oil We Have Oil Prices Should Be $30-$50 A Barrel...
jwduke1 Champion Author Iowa Posts:15,604 Points:3,068,265 Joined:Apr 2004	Message Posted: Apr 27, 2012 7:25:38 PM Ignore jwduke1 Report Abuse Lets use it as motor vehicle fuel!
jimbo1867 Champion Author Arizona Posts:5,389 Points:2,058,365 Joined:Apr 2005	Message Posted: Apr 27, 2012 7:25:07 PM Ignore jimbo1867 Report Abuse uhuh uhuh uhuh
RichFWA Champion Author Tacoma Posts:1,185 Points:291,795 Joined:Mar 2011	Message Posted: Apr 27, 2012 7:24:26 PM Ignore RichFWA Report Abuse ok
bababooey2 Champion Author Hartford Posts:6,362 Points:1,305,540 Joined:Sep 2009	Message Posted: Apr 27, 2012 7:20:47 PM Ignore bababooey2 Report Abuse Bad link?
vincentV All-Star Author Toronto Posts:652 Points:137,305 Joined:Oct 2010	Message Posted: Apr 27, 2012 7:14:51 PM Ignore vincentV Report Abuse wow
CheapDiesel All-Star Author Indianapolis Posts:801 Points:177,415 Joined:Nov 2005	Message Posted: Apr 27, 2012 7:12:15 PM Ignore CheapDiesel Report Abuse Because the lower prices rarely make it down to the consumer.
Pramodsharma Champion Author Richmond Posts:1,974 Points:388,140 Joined:Feb 2012	Message Posted: Apr 27, 2012 7:12:15 PM Ignore Pramodsharma Report Abuse All heavy duty vehicles switch to natural gas, That will win win for gas users and environmentalists
pnd1 Champion Author Tallahassee Posts:5,201 Points:1,065,110 Joined:Jul 2009	Message Posted: Apr 27, 2012 7:11:01 PM Ignore pnd1 Report Abuse We should be using natural gas in our cars.
GaSrt8 Veteran Author Georgia Posts:331 Points:401,630 Joined:Nov 2011	Message Posted: Apr 27, 2012 7:09:21 PM Ignore GaSrt8 Report Abuse We need to start switching our truckers over to nat gas. 30% of our transportation fuel is used by truckers.
fightbigoil71 Champion Author Milwaukee Posts:7,577 Points:1,547,830 Joined:Nov 2008	Message Posted: Apr 27, 2012 6:48:42 PM Ignore fightbigoil71 Report Abuse Either way we lose...
minnesotagirl Champion Author Milwaukee Posts:5,877 Points:1,233,845 Joined:Oct 2009	Message Posted: Apr 27, 2012 6:46:25 PM Ignore minnesotagirl Report Abuse Seems we can't win
gknee09 All-Star Author Philadelphia Posts:985 Points:824,640 Joined:Jul 2009	Message Posted: Apr 27, 2012 6:45:06 PM Ignore gknee09 Report Abuse If there isn't a profit then they can not stay in business . .
themaninthehat Champion Author New Orleans Posts:1,824 Points:472,265 Joined:Feb 2011	Message Posted: Apr 27, 2012 6:44:16 PM Ignore themaninthehat Report Abuse Meanwhile, fracking turns US into a Third World country.
RBob Champion Author Portland Posts:3,384 Points:2,349,825 Joined:May 2004	Message Posted: Apr 27, 2012 6:41:39 PM Ignore RBob Report Abuse I appreciated my lower NG prices this past winter.
willp99 All-Star Author San Diego Posts:747 Points:756,070 Joined:Jun 2009	Message Posted: Apr 27, 2012 6:40:25 PM Ignore willp99 Report Abuse The Energy Secretary wants the price of gas high to make alternatives look good [Edited by: willp99 at 4/27/2012 6:40:57 PM EST]
mickealo Champion Author Spokane Posts:6,172 Points:2,146,385 Joined:Oct 2006	Message Posted: Apr 27, 2012 6:37:28 PM Ignore mickealo Report Abuse every thing has to be shipped and that takes fuel to run those trucks
nigelb Champion Author Virginia Posts:8,470 Points:1,393,705 Joined:Feb 2008	Message Posted: Apr 27, 2012 6:33:58 PM Ignore nigelb Report Abuse Would help if the link worked!
DEG Champion Author Las Vegas Posts:17,635 Points:3,497,630 Joined:Jul 2003	Message Posted: Apr 27, 2012 6:33:52 PM Ignore DEG Report Abuse The US should be doing what is necessary to lower gasoline and diesel fuel costs. Obviously, the alternatives are just not ready for prime time yet.
DCbeachbum Champion Author South Carolina Posts:2,647 Points:906,315 Joined:May 2010	Message Posted: Apr 27, 2012 6:33:46 PM Ignore DCbeachbum Report Abuse Natural gas right now is cheap. However, give it a while and our politicians will find a way to tax and regulate it get the prices up.
wz Champion Author Twin Cities Posts:2,499 Points:1,279,740 Joined:Feb 2009	Message Posted: Apr 27, 2012 6:33:11 PM Ignore wz Report Abuse Watch for prices to start creeping downward when Obama is out of office.
Bonanza Champion Author Boston Posts:12,099 Points:2,553,705 Joined:Jun 2004	Message Posted: Apr 27, 2012 6:31:17 PM Ignore Bonanza Report Abuse Imagine what lower gasoline prices would do
dancygreen Champion Author Twin Cities Posts:2,073 Points:487,710 Joined:Sep 2011	Message Posted: Apr 27, 2012 6:30:18 PM Ignore dancygreen Report Abuse ok