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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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warlord1 Champion Author Georgia Posts:5,240 Points:1,033,025 Joined:May 2010	Message Posted: Apr 27, 2012 7:45:20 PM Ignore warlord1 Report Abuse ok
fenster66 Champion Author Pittsburgh Posts:3,345 Points:673,115 Joined:May 2011	Message Posted: Apr 27, 2012 7:45:15 PM Ignore fenster66 Report Abuse ending speculation would help....
skyking19 Champion Author Little Rock Posts:1,996 Points:1,697,965 Joined:Jan 2007	Message Posted: Apr 27, 2012 7:44:53 PM Ignore skyking19 Report Abuse Need more of it!
nztyraider Champion Author Nevada Posts:2,273 Points:692,575 Joined:Apr 2009	Message Posted: Apr 27, 2012 7:42:52 PM Ignore nztyraider Report Abuse Actually it helps a lot.
AKmailman Champion Author Alaska Posts:5,628 Points:1,556,590 Joined:Jul 2004	Message Posted: Apr 27, 2012 7:41:09 PM Ignore AKmailman Report Abuse as long as big oil controls detroit, CNG vehicles will never go mainstream
gass12 Champion Author Omaha Posts:8,384 Points:2,302,740 Joined:Oct 2005	Message Posted: Apr 27, 2012 7:40:29 PM Ignore gass12 Report Abuse Natural Gas is the answer.
Focus2 Champion Author Illinois Posts:7,889 Points:1,919,005 Joined:Mar 2006	Message Posted: Apr 27, 2012 7:33:16 PM Ignore Focus2 Report Abuse I would have to agree that we need to make more use of natural gas especially in transportation. As far as having enough for over a century, we might have much more than that if big oil would stop flaring it off to get to the oil. They claim the gas just gets in the way and they are after the more expensive oil not the cheap stuff! We need to enact laws and have them enforced to protect our natural resources, yes natural gas! Greed has blinded them and they go after the dirty oil and waste the clean burning fuel that we should be using but are being denied. T Boone Pickins thinks the natural gas should be high in price so it won't be wasted. Sure he would think that way being an oil man. We just need regulation protecting our resources not higher profits for Big Oil! To make a point, my brother sold some timber to a logging firm. They picked out the prime trees they were interested in and he marked the other trees that they would have to take (which they agreed to) that they didn't really want as they were just classed as pulp wood and not profitable. The same goes for natural gas while it is cheap is not as profitable as going after the oil.
SpankyMI Champion Author Kalamazoo Posts:2,703 Points:758,305 Joined:Jan 2011	Message Posted: Apr 27, 2012 7:27:00 PM Ignore SpankyMI Report Abuse If you use natural gas to heat your home, lower prices helps!
itsjustme719 All-Star Author Hamilton Posts:611 Points:597,700 Joined:Dec 2010	Message Posted: Apr 27, 2012 7:26:33 PM Ignore itsjustme719 Report Abuse Wish I could afford to convert my vehicle to NG.
passin_gas2011 All-Star Author Ohio Posts:750 Points:141,595 Joined:Sep 2011	Message Posted: Apr 27, 2012 7:20:58 PM Ignore passin_gas2011 Report Abuse well ok then
mrbee Champion Author Little Rock Posts:3,749 Points:2,464,855 Joined:Oct 2005	Message Posted: Apr 27, 2012 7:18:23 PM Ignore mrbee Report Abuse Drill for more.
GoGoGoodyear Champion Author Los Angeles Posts:2,049 Points:506,355 Joined:Mar 2010	Message Posted: Apr 27, 2012 7:07:40 PM Ignore GoGoGoodyear Report Abuse From the article: Although we have massive amounts of natural gas—an estimated 2,214 trillion cubic feet, enough to last 100 years by some measures—we still don’t use that much of it. Case in point: We’re drilling so much and using so little, it’s conceivable that we’ll max out our 4.3 trillion cubic feet of storage capacity at some point this year. Americans burn about 22 trillion cubic feet of natural gas every year. With natural gas being so abundant and costs staying reasonable it's obvious we need to make more use of it and replace gasoline and diesel uses with NG where possible.
BeulahME Champion Author Maine Posts:1,107 Points:444,035 Joined:Jan 2011	Message Posted: Apr 27, 2012 7:06:07 PM Ignore BeulahME Report Abuse We have oil, use it.
TedNC All-Star Author North Carolina Posts:990 Points:225,975 Joined:May 2011	Message Posted: Apr 27, 2012 7:00:29 PM Ignore TedNC Report Abuse The oil industry and Wall St. don't care about the people of this country. Only $$$$$$
GoGoGoodyear Champion Author Los Angeles Posts:2,049 Points:506,355 Joined:Mar 2010	Message Posted: Apr 27, 2012 7:00:14 PM Ignore GoGoGoodyear Report Abuse Link to the full article is broken because it's missing the URL. Here is the working link to the article on Businessweek.com
Blue48 Champion Author Illinois Posts:7,300 Points:1,636,970 Joined:Feb 2007	Message Posted: Apr 27, 2012 6:55:27 PM Ignore Blue48 Report Abuse GO FIGURE!
iceman11 Champion Author Ontario Posts:2,715 Points:536,425 Joined:Feb 2011	Message Posted: Apr 27, 2012 6:54:30 PM Ignore iceman11 Report Abuse it is making every one broke
200porter Champion Author Toronto Posts:2,060 Points:541,160 Joined:Sep 2011	Message Posted: Apr 27, 2012 6:52:45 PM Ignore 200porter Report Abuse If you're spending all your money on oil, then you can't use it for anything else.
hagar2935 Veteran Author Nevada Posts:315 Points:85,155 Joined:Dec 2011	Message Posted: Apr 27, 2012 6:47:57 PM Ignore hagar2935 Report Abuse This is just a "blip" higher prices coming our way thanks to Obama, the Democraps & the Eco-Terrorists..... TAKE BACK AMERICA THIS NOVEMBER!!!!!!!!!!!!!!
listerone Champion Author Boston Posts:3,375 Points:877,790 Joined:Aug 2008	Message Posted: Apr 27, 2012 6:46:19 PM Ignore listerone Report Abuse We have huge reserves of natural gas.Let's use it in every way possible.
boborobot All-Star Author Michigan Posts:501 Points:415,800 Joined:Dec 2011	Message Posted: Apr 27, 2012 6:42:36 PM Ignore boborobot Report Abuse Speculation!
ratones1 Champion Author Los Angeles Posts:2,907 Points:731,005 Joined:Mar 2011	Message Posted: Apr 27, 2012 6:41:38 PM Ignore ratones1 Report Abuse OK...
blazerbob91 Champion Author Milwaukee Posts:6,135 Points:1,881,720 Joined:Aug 2005	Message Posted: Apr 27, 2012 6:29:47 PM Ignore blazerbob91 Report Abuse Wait till they figure out how to manipulate NG
rxman1 Champion Author Toledo Posts:9,540 Points:1,860,920 Joined:Nov 2007	Message Posted: Apr 27, 2012 6:29:39 PM Ignore rxman1 Report Abuse The price of gas takes a large chunk of my budget every month.
darkknight1 Champion Author Winston-Salem Posts:4,330 Points:894,860 Joined:Nov 2010	Message Posted: Apr 27, 2012 6:29:04 PM Ignore darkknight1 Report Abuse not surprised
methaneman Champion Author Minnesota Posts:2,610 Points:1,284,450 Joined:May 2002	Message Posted: Apr 27, 2012 6:26:06 PM Ignore methaneman Report Abuse not my bills.
96sc1 Champion Author El Paso Posts:8,517 Points:1,367,440 Joined:Mar 2008	Message Posted: Apr 27, 2012 6:20:39 PM Ignore 96sc1 Report Abuse Blah, blah, blah. Lack of demand for natural gas has lowered prices to the point where producing it is unprofitable. Of course, producing ethanol and wind and solar power is unprofitable too, but those are subsidized to appease the environmentalists. WHO ARE THE "ENVIRONMENTALISTS"?
saleboss Champion Author Phoenix Posts:3,929 Points:1,177,875 Joined:Feb 2006	Message Posted: Apr 27, 2012 6:20:13 PM Ignore saleboss Report Abuse The lower NG prices would help us more if we could get to it!
FuelOilOH Champion Author Cleveland Posts:2,837 Points:1,180,220 Joined:Oct 2007	Message Posted: Apr 27, 2012 6:19:45 PM Ignore FuelOilOH Report Abuse This is just what 'Bama wants. It lends credence to his goal of having government provide everything you need. It's called Socialism or Communism.
TDIdave Champion Author California Posts:5,053 Points:1,223,765 Joined:May 2006	Message Posted: Apr 27, 2012 6:17:49 PM Ignore TDIdave Report Abuse ok
Martillo Champion Author Dallas Posts:1,594 Points:729,160 Joined:Nov 2008	Message Posted: Apr 27, 2012 6:14:10 PM Ignore Martillo Report Abuse OK
iamforiu Champion Author Indiana Posts:3,565 Points:709,690 Joined:May 2011	Message Posted: Apr 27, 2012 6:12:05 PM Ignore iamforiu Report Abuse ok
mconley1967 All-Star Author Louisville Posts:586 Points:359,330 Joined:Mar 2012	Message Posted: Apr 27, 2012 6:11:51 PM Ignore mconley1967 Report Abuse Ok
speedys Champion Author Utah Posts:7,007 Points:2,557,085 Joined:Nov 2005	Message Posted: Apr 27, 2012 6:11:07 PM Ignore speedys Report Abuse When we start using more natural gas the savings has to be greater.
Lou08 Champion Author California Posts:1,084 Points:252,410 Joined:Feb 2008	Message Posted: Apr 27, 2012 6:09:57 PM Ignore Lou08 Report Abuse <<<<<<;=)>>>>>>>>Hey can't read article >Error Code~404 Article not available Any more@@@.....
singlemom27 Champion Author Ventura Posts:3,103 Points:638,235 Joined:Apr 2011	Message Posted: Apr 27, 2012 6:09:50 PM Ignore singlemom27 Report Abuse At least it helps. Everything adds up.
HDFXR1991 Veteran Author Wisconsin Posts:469 Points:141,030 Joined:Sep 2008	Message Posted: Apr 27, 2012 6:09:20 PM Ignore HDFXR1991 Report Abuse lower hell tell my bills.
jdc17327 Champion Author Pennsylvania Posts:2,555 Points:197,690 Joined:May 2009	Message Posted: Apr 27, 2012 6:05:13 PM Ignore jdc17327 Report Abuse okay...great...but NOT FOR LONG!
ShabbyPA Champion Author Pennsylvania Posts:2,815 Points:680,490 Joined:Nov 2007	Message Posted: Apr 27, 2012 6:02:47 PM Ignore ShabbyPA Report Abuse Vote noBama in 2012
h2ojumper Champion Author Austin Posts:2,555 Points:706,660 Joined:Feb 2011	Message Posted: Apr 27, 2012 6:01:51 PM Ignore h2ojumper Report Abuse ok
Number43 Champion Author Lexington Posts:8,692 Points:1,637,195 Joined:Oct 2008	Message Posted: Apr 27, 2012 6:01:45 PM Ignore Number43 Report Abuse OK
Number43 Champion Author Lexington Posts:8,692 Points:1,637,195 Joined:Oct 2008	Message Posted: Apr 27, 2012 6:01:32 PM Ignore Number43 Report Abuse We need to use it.
mabrams184 Champion Author Lexington Posts:2,100 Points:533,060 Joined:Aug 2011	Message Posted: Apr 27, 2012 6:00:37 PM Ignore mabrams184 Report Abuse ok
MINIWINI598 Champion Author Washington Posts:3,012 Points:517,725 Joined:Dec 2011	Message Posted: Apr 27, 2012 6:00:35 PM Ignore MINIWINI598 Report Abuse ok
balljars Champion Author Michigan Posts:8,113 Points:1,610,595 Joined:Aug 2008	Message Posted: Apr 27, 2012 5:57:23 PM Ignore balljars Report Abuse Well the lower prices help us consumers a little.
MG_Sputnik Champion Author Philadelphia Posts:7,303 Points:1,959,615 Joined:Apr 2006	Message Posted: Apr 27, 2012 5:51:09 PM Ignore MG_Sputnik Report Abuse It'll all be fine by the time a certain person's re-election campaign is in full gear.
bojiway1 Champion Author Minnesota Posts:2,039 Points:477,085 Joined:Dec 2011	Message Posted: Apr 27, 2012 5:43:04 PM Ignore bojiway1 Report Abuse nice article, keep informing us
powerserge Rookie Author Boston Posts:43 Points:42,375 Joined:Apr 2012	Message Posted: Apr 27, 2012 5:41:21 PM Ignore powerserge Report Abuse good article
cleangasprices Veteran Author Vancouver Posts:315 Points:72,515 Joined:May 2011	Message Posted: Apr 27, 2012 5:40:09 PM Ignore cleangasprices Report Abuse Logically it does, but in fact no much help
DYSKYPILOT Champion Author Fort Worth Posts:2,897 Points:624,730 Joined:Mar 2006	Message Posted: Apr 27, 2012 5:40:03 PM Ignore DYSKYPILOT Report Abuse ok
cleangasprices Veteran Author Vancouver Posts:315 Points:72,515 Joined:May 2011	Message Posted: Apr 27, 2012 5:38:16 PM Ignore cleangasprices Report Abuse No change, more vehicles are still on gas
gws2980 Champion Author Philadelphia Posts:2,176 Points:500,140 Joined:Oct 2010	Message Posted: Apr 27, 2012 5:36:12 PM Ignore gws2980 Report Abuse Now we have more home oil but no refineries