Offsetting pain at the pump

Discussion in 'Wall St. News' started by S2007S, May 3, 2007.

  1. S2007S

    S2007S

    This is too funny, they actually think that $3.00 gas is going to keep people from travelling. Are they serious. If people can drop $5 on a grande Latte from that ripoff place they call starbucks, I think they can afford to drive their big Yukon, H2 and Escalade that gets 10-12 miles to the gallon.....




    "With gas prices expected to top $3 a gallon again this summer - and even go much higher in some areas - tourism groups are doling out free gas and other promotions to encourage Americans to stick with their traditional summer road trips."






    Money
    Offsetting pain at the pump
    Wednesday May 2, 2:58 pm ET
    By Donna Rosato, Money Magazine staff writer

    Rising gas prices got you down? The travel industry wants to help.

    With gas prices expected to top $3 a gallon again this summer - and even go much higher in some areas - tourism groups are doling out free gas and other promotions to encourage Americans to stick with their traditional summer road trips.

    The travel industry fears aren't unfounded. Half of Americans say they will cut back on travel plans if gas prices reach $3.50 a gallon this summer, according to a survey released Wednesday by the nonprofit environmental think tank Civil Society Institute and its 40MPG.org project, which is lobbying for more fuel-efficient cars.

    "Experts often say that Americans will grin and bear these higher gas prices. But that's clearly not the case," said Civil Society Institute president and 40MPG.org founder Pam Solo.

    The national average price of unleaded gas is $2.97, up 30 cents from a month ago, according to the daily fuel gauge report by AAA. Gas prices have been rising quickly the past few weeks because of tighter supplies, higher oil prices and closings at some big refineries.

    As the busy summer driving season gets under way, the travel industry wants to do whatever it can to encourage Americans to get in their cars if prices continue to go up as predicted.

    Among deals the lodging and tourism industry is offering this summer:

    BnBFinder.com, an online bed and breakfast directory, is keeping track of inns and B&Bs offering rebates and free gas at BnBFinder.com/FreeGas.

    The southern California city of Costa Mesa is offering people who stay in Costa Mesa hotels a $30 restaurant certificate every night of your stay, as well as a $30 gas certificate. Details at http://www.travelcostamesa.com/.

    California mountain resort Big Bear is giving away a $25 gas card for visitors who stay at participating hotels in the area through November 18th. Go to Big Bear's promotions Web page for more information.

    The Branson, Missouri Tourism Center is offering 20 cents a gallon off gas for people living 100 miles or more away from Branson. (See more.)
     
  2. Bah. Gas is dirt cheap at $3/gallon.

    Every day I see people driving by themselves in SUVs up and down I-270, me included.

    At kids' soccer practices I see parents sitting in the car with the engine going for 2 hours to either run the heater or A/C.

    Gas is cheap.
     
  3. S2k, you'd be surprised at the growth rate of Americans who are no longer going to the doctor, cutting medications in half, canceling cable TV, etc.

    Look at the low range and middle class retailers, like WalMart and Target.

    Things are not healthy on the consumer end.

    Even last year, when gas rose above $3, you could get a 15k discount on a new Denali or Tahoe.

    People were trading their H2s in on smaller vehicles.

    I'm in Michigan, and if you want a boat, there's never been a better time to buy if you have the cash - Michigan, Ohio, Minnesota, etc.
     
  4. 50cc moped is the way to go great (mpg) or buy a good set of sneakers. BTW this happened in the 70's.

    Akuma
     
  5. jtnet

    jtnet

    just go long CL m7's hedge yourself, no pain.
     
  6. 3$? that's a bargain! It's 3.30-3.60 in LA area!
     
  7. S2007S

    S2007S

    I just paid $3.26 for regular.


    One hurricane in the Gulf and where I am on the northeast expect $3.75-$4.00 for regular.
     
  8. chisel

    chisel

    Gas is $2.84 here in Kentucky. :D
     

  9. I feel for you guys, it's nearly $9 in UK......no wonder we all drive around squashed into subcompacts :(
     
  10. S2007S

    S2007S

    $9, whew.


    whats the exchange rate on that?
     
    #10     May 5, 2007