Good gracious guys... this is out of hand. If you don't like the price of diesel, then don't buy it. When demand goes down, then the price will fall and we will all be happy. Everyone of us, everyone, made the choice to buy a truck, live where we do, and adopt the lifestyle we did. Bush didn't tell you where to live, where to work, and what to drive. You and you alone made that choice. You can choose to drink 50 gallons of water, buy 50 gallons of diesel, or bathe in 50 gallons of milk, your choice. Don't gripe about choices you made to me please.

Oil companies are making record profits because consumers are making record purchases. Increases in worldwide demand, China in particular, have created higher demand, thus higher prices (http://www.eia.doe.gov/bookshelf/bro...rices2006.html). WalMart also made record high profits, I guess we need to regulate them too?

A sizable portion of the price of fuel, 26% (as cited above) is taxes. Government regulation would require more employees, and thus more tax, and that would actually cause prices to go up even higher. Hillary Clinton and others are advocating adding additional fees to fuel. That's not going to make it cheeper.

Oil companies don't pay Bush, they fund his campaigns, and they also fund many others on both sides of the political spectrum. By law, no campaign funds can be used for personal gain. Bush received zero oil/gas related income. Not convinced, then view his tax return (http://www.taxhistory.org/thp/thpweb...s?OpenDocument). If you have information beyond this, then I urge you to file a complaint with the IRS for tax fraud. If you want to complain about him being in office, then gripe at the voters who put him there. If you want to gripe about political fundraising, then by all means do it, just on an appropriate board please.

As for home sales: Home sales have been so strong that most economist have warned of a real estate bubble. This years housing sales, both in existing and new units sold, were at a all-time record high. (http://www.realtor.org/publicaffairs...JuneForecast06). Housing sales are slowing because the Federal Reserve raised interest rates continuously in order to slow the booming economy, particularly the overheated housing market to more healthy levels. House values doubled and even tripled in many areas over the last decade and devaluation is needed in order to check inflation and return them to levels more in tune with the economy.

As for consumer prices. Prices across the board, unless in a time of deflation (an extremely rare occurrence), are always at all time highs. Economist recommend annual inflation of around 3% to 4% to keep thing moving. Therefore prices will rise each year... to all-time highs.

Pay, across the board, is also at a all-time high. Pay has increased between 3% to 4% for each year during the last five years (http://data.bls.gov/PDQ/servlet/Surv...1010000000000A). So statistically speaking, you are making record profits as well.

Vacations: People don't take vacations period. Americans choose to work for free for 4 days a year on average, even though they they are not required to (http://www.travelindustrywire.com/article22344.html). That was true when Diesel was a $1.25 a gallon as well. Perhaps it is a good work ethic and dedication to their job?

Farm income, adjusted for inflation, hasn't move since the 1950's. Post WWII economic development moved the US economy from agriculture based to manufacturing, and then to service. That was a very good thing for everyone, including the farmer who saw his land value increase, not double, not triple, but 350X! (http://www.extension.iastate.edu/AgD...DuffyJun05.htm)

In 1981, 9% of the average household budget went for gas, in 2006, even at $3 a gallon, only 4.5% (http://www.msnbc.msn.com/id/12777854/site/newsweek/) and that's with a 24% increase in miles driven added in too! I seriously doubt fuel is causing catastrophic consequences to the economy.

It goes on and on.. its called the economy. I don't like the price of diesel either so I buy less. Ya it stings, but come on, my cable bill sucks too!

What can you do?
1) Move closer to work. Your current house value is at a all time high.
2) Grow your own bio-diesel. Ag labor is at a all time low.
3) Purchase stock in oil companies - I hear they are paying record dividends.
4) Tell the EPA to kiss off and build a refinery in your back yard or at least do some drillin. Or get that cold fusion thing figured out.
5) Quit your belly achin, enjoy the best times in the history, and join USAFR and I on the bus. We got some killer stories to pass the time.

 

Unfortunately bro, you kinda come of as someone who believes everything that you read.

 

I like it, saltsman.
As for the person that said gas prices are killing peoples budgets.... ba-hahahaha.
Peoples budgeting are killing peoples budgets. These people go out and buy huge (expensive) homes, big (expensive) SUVs, and get credit cards, store cards, etc. and max them out. Than, when gas prices get to a level like they are in other countries, people complain that its the "gas prices" that did it. Just because you make $60,000 a year does not mean you have to spend $60,000 a year. (Last year in econ we were supposed to make a sample budget for a few years down the road, and while everyone was using $2.25 for a price-per-gallon for gas figures, I was using $3.00 a gallon to be on the "safe side" and they thought I was crazy. I'm not so crazy now, am I?)
The main thing these morons that complain about gas prices effecting their budget, lifestyle, or whatever, need to look at is their actual BIG expenses (housing and vehicles). OMG, downsize the home from 3,000 sq. ft. to 1,500 sq. ft. (you will save on house payment AND heating and cooling bills). Get rid of the Escalade for her, and the truck for him (assuming he does not need a truck for his job, i.e. if hes an office worker). Get nice Dodge or Chrysler cars for both of them (). Or, oh my, buy a used vehicle that costs half as much, pay it off quick, and downgrade insurance to minimal coverage.
Wow, I just saved that sample family like 30%. They can than use the savings to provide for a retirement (which most people never figure out they need), a nice vacation (which most people are addicted to work, so they skip, its not 'gas prices' as some claim, its a fact, Americans work more than in any other industrialized country), or whatever they want to put it towards.
Bottom line: unless you are in the service business (i.e. a plumber, electrician, etc. that may have a wide-area for customers), there is no good reason to complain about gas prices if you make a decent income. (My friends dad sells/services water softners, and has customers in a good 45-mile radius of his home. He can easily spend $150 a week on gas alone. Of course, he can also buy a Dodge Sprinter and cut his fuel cost by about 40%, but he hasn't woken up yet).
Blame politicians, oil companies, etc. all you want, but it's just misplaced blame. Their not forcing you to buy a Ram 2500 if you don't need one. Their not telling you you CAN'T buy a Honda Civic. Heck, their not the ones telling you to live 45 minutes from work in a $400,000 house, while your stay-at-home-wife drives a $50,000 SUV.
These gas prices are about 50-years late, but, their also about right. I'm not saying I like them. I would love to see $1.50 gas come back (I started driving when gas was around $2.20, so I dont know about the 'good old days'), but, we now have to come to grips with reality.
Boo hoo hoo, gas prices are high. Keep crying everyone, maybe mommy will come and kiss you and say "everything is alright."

 

And the debate continues. Thanks for the good read.
Everyone that's contributed have one on me [sm=icon_guiness.gif]

 

Debate? I provided the answers, and there is no debating the facts.

Just kidding.

 

I'm still gonna take the bus, prozac is a good thing.