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Worst of oil spike is over- U.S. poll

The Globe And Mail -- WASHINGTON — Most Americans think that the worst of the fuel price spike that pushed gasoline above $4 (U.S.) per gallon has passed, but they have little hope that the housing market will stage a swift recovery, according to a Reuters/Zogby poll released on Wednesday.

The economy has jumped to the top of voters' concerns this election year, eclipsing the Iraq War, and that has put the housing bust and rising inflation squarely in the spotlight.

The poll of 1,089 likely voters found that just under 13 per cent thought gasoline prices would rise a lot between now and the end of the year. About one quarter thought prices would rise a little, while one in three thought they would drop a little and 18 per cent said they would stay about the same.

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Submitted Aug 20, 2008 By: JT

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bkaanta Sophomore Author Boston Posts:119 Points:61,505 Joined:Jul 2008	Message Posted: Aug 21, 2008 8:30:28 AM Ignore bkaanta Report Abuse Probably just a drop for elections, then they will rise again
tonycmd All-Star Author Maryland Posts:515 Points:129,830 Joined:Jun 2008	Message Posted: Aug 21, 2008 8:29:18 AM Ignore tonycmd Report Abuse The calm before an even bigger storm
Jizme Champion Author Lincoln Posts:3,476 Points:1,646,265 Joined:Oct 2004	Message Posted: Aug 21, 2008 8:28:58 AM Ignore Jizme Report Abuse Who cares as long as they drop.
Mortarpsg Sophomore Author Charlotte Posts:220 Points:296,430 Joined:Jul 2005	Message Posted: Aug 21, 2008 8:28:40 AM Ignore Mortarpsg Report Abuse Don't be fooled; this is only temporary. Change your behavior America.
childoftibet Champion Author Cleveland Posts:1,730 Points:78,975 Joined:Jul 2008	Message Posted: Aug 21, 2008 8:28:20 AM Ignore childoftibet Report Abuse I've said it before and I'll say it again .. let's not be lulled into a false sense of security.
NeilPage Champion Author Baltimore Posts:1,417 Points:357,695 Joined:Nov 2005	Message Posted: Aug 21, 2008 8:28:05 AM Ignore NeilPage Report Abuse Start stockpiling now
Wildman14 Champion Author Virginia Posts:1,165 Points:271,135 Joined:Jul 2008	Message Posted: Aug 21, 2008 8:26:42 AM Ignore Wildman14 Report Abuse Prices will keep going down until the elections are over and then “Katie bar the door.” because there will be a surge that is going to make our heads spin. We need a comprehensive energy plan for our country and not some piece of garbage like the last one brokered behind closed doors.
texasbig8 All-Star Author Dallas Posts:910 Points:219,290 Joined:Jul 2008	Message Posted: Aug 21, 2008 8:25:15 AM Ignore texasbig8 Report Abuse Read the next article where the oil barons are threatening to cut production to stabilize or raise the price... until this evil master does not have complete control we have to sit back and take what is dished out. We are still curtailing our driving and limiting our spending.
smwhite Champion Author Indiana Posts:3,428 Points:816,025 Joined:Jun 2007	Message Posted: Aug 21, 2008 8:25:05 AM Ignore smwhite Report Abuse They will still find a way to make BIG PROFIT, you can bet on that!
EyeGasses Champion Author Nevada Posts:2,657 Points:459,920 Joined:Jun 2006	Message Posted: Aug 21, 2008 8:25:00 AM Ignore EyeGasses Report Abuse I believe it. I also believe in Santa Clause and the Easter Bunny. Yeah, right.
racerdj Champion Author Indianapolis Posts:3,460 Points:793,110 Joined:Jun 2003	Message Posted: Aug 21, 2008 8:23:40 AM Ignore racerdj Report Abuse Look for higher prices if we go back to our old habits...Oil's up this morning on Bloomberg.
cv Champion Author Raleigh Posts:8,797 Points:2,003,605 Joined:Oct 2003	Message Posted: Aug 21, 2008 8:23:34 AM Ignore cv Report Abuse There is always another excuse to make prices rise.
JPGKC Champion Author Tampa Posts:4,419 Points:820,500 Joined:Sep 2006	Message Posted: Aug 21, 2008 8:22:34 AM Ignore JPGKC Report Abuse Just because it passed doesn't mean it won't come back, they're trying to push it back up.
bh1995 Champion Author Detroit Posts:1,200 Points:1,060,525 Joined:Jul 2005	Message Posted: Aug 21, 2008 8:21:35 AM Ignore bh1995 Report Abuse I hope they are right.
Litt211 Veteran Author St. Louis Posts:268 Points:829,590 Joined:Nov 2005	Message Posted: Aug 21, 2008 8:20:37 AM Ignore Litt211 Report Abuse over for now ...it will happen again and again
stadlgi Champion Author Akron Posts:1,521 Points:1,066,310 Joined:Jun 2004	Message Posted: Aug 21, 2008 8:18:44 AM Ignore stadlgi Report Abuse In typical fashion, if the pollsters are correct, the American response is based on false perceptions. It is the election cycle and the prices may continue to decline until afterward. Then the entrenched politicians, also in typical form, will ignore the masses so long as they can push through their shallow party agenda.
swepson Veteran Author Greensboro Posts:363 Points:396,880 Joined:Jul 2008	Message Posted: Aug 21, 2008 8:17:51 AM Ignore swepson Report Abuse With very low gasoline inventories, we’re one refinery accident away from another huge price run up.
GolfTDI03 Champion Author Richmond Posts:2,435 Points:578,305 Joined:Jul 2005	Message Posted: Aug 21, 2008 8:16:30 AM Ignore GolfTDI03 Report Abuse GOldman Sachs once again touting %149 a bbl crude, of course they AREN"T speculators. (My a&$e).
NECarter Veteran Author Seattle Posts:337 Points:173,415 Joined:Oct 2006	Message Posted: Aug 21, 2008 8:16:18 AM Ignore NECarter Report Abuse Over my ass! It'll happen again! Just like it has for the last 25 years!!!!
dougrusty All-Star Author Illinois Posts:684 Points:260,785 Joined:Mar 2008	Message Posted: Aug 21, 2008 8:15:33 AM Ignore dougrusty Report Abuse Do you believe everything you read?
bradkos Rookie Author Ohio Posts:94 Points:35,160 Joined:May 2008	Message Posted: Aug 21, 2008 8:14:33 AM Ignore bradkos Report Abuse It's election time, prices will soar again. Housing issue still at a low. Government giving incentives to first time home buyers. Who can afford to buy with all the foreclosures in this area, not sure there are any first time home buyers left out there.
SE3.5 Champion Author Indianapolis Posts:9,770 Points:1,900,250 Joined:May 2004	Message Posted: Aug 21, 2008 8:14:25 AM Ignore SE3.5 Report Abuse Why are polls news?
MNTraveler Sophomore Author Minnesota Posts:210 Points:74,235 Joined:Jul 2008	Message Posted: Aug 21, 2008 8:11:39 AM Ignore MNTraveler Report Abuse Some people are so easily fooled
TommyTraveler Champion Author Cincinnati Posts:2,227 Points:434,125 Joined:Nov 2007	Message Posted: Aug 21, 2008 8:10:37 AM Ignore TommyTraveler Report Abuse Polls are like economist the point in every direction.
Petesgas Rookie Author Madison Posts:35 Points:3,100 Joined:Aug 2008	Message Posted: Aug 21, 2008 8:10:25 AM Ignore Petesgas Report Abuse Don`t be fooled it will go back up soon.
salog Champion Author Columbia Posts:2,172 Points:665,960 Joined:Oct 2006	Message Posted: Aug 21, 2008 8:05:02 AM Ignore salog Report Abuse just in time for elections, wonder who will try and take the credit
hvanman Rookie Author Indianapolis Posts:30 Points:113,375 Joined:May 2007	Message Posted: Aug 21, 2008 8:03:10 AM Ignore hvanman Report Abuse Are these the same Americans who are trading Oil? If not, it does not matter who conducts the poll and who answers it. So, let's concentrate on how we can free ourselves from the oil dependency.
echolalia Sophomore Author Pennsylvania Posts:245 Points:92,115 Joined:Jul 2008	Message Posted: Aug 21, 2008 8:01:26 AM Ignore echolalia Report Abuse Polls fascinate me.
brutus Champion Author Alberta Posts:3,529 Points:1,289,840 Joined:Feb 2003	Message Posted: Aug 21, 2008 8:00:54 AM Ignore brutus Report Abuse Maybe, but wait till winter and oil prices will likely rise.
Raider44 All-Star Author Allentown Posts:900 Points:468,335 Joined:Apr 2008	Message Posted: Aug 21, 2008 8:00:40 AM Ignore Raider44 Report Abuse The worst is yet to come!
bug27 Champion Author Kentucky Posts:11,824 Points:1,529,770 Joined:Apr 2005	Message Posted: Aug 21, 2008 7:59:50 AM Ignore bug27 Report Abuse Only if Russia keeps a lower profile.
ponymom Champion Author Cincinnati Posts:1,702 Points:332,340 Joined:May 2008	Message Posted: Aug 21, 2008 7:59:02 AM Ignore ponymom Report Abuse Polls change, so do oil prices.
guzlinsuv Champion Author Sacramento Posts:3,291 Points:798,895 Joined:Aug 2005	Message Posted: Aug 21, 2008 7:58:50 AM Ignore guzlinsuv Report Abuse not holding my breath on this one
tazdriver Champion Author Huntsville Posts:4,120 Points:929,430 Joined:Jan 2007	Message Posted: Aug 21, 2008 7:58:33 AM Ignore tazdriver Report Abuse 600% price spike in oil has not been reversed, it caused everything else to tank.
TeachR06 Champion Author Raleigh Posts:2,663 Points:812,695 Joined:Sep 2006	Message Posted: Aug 21, 2008 7:58:30 AM Ignore TeachR06 Report Abuse Unfortunately this is a poll of Americans not the industry movers and shakers who know what strings are being pulled to get the outcome and profit they want. We'll probably never know what the truth is.
Rick01 Champion Author Utah Posts:2,559 Points:1,132,335 Joined:Sep 2005	Message Posted: Aug 21, 2008 7:58:22 AM Ignore Rick01 Report Abuse I'll wait and see, to much at risk in the mid east.
mahenv7 Champion Author Toronto Posts:1,950 Points:391,475 Joined:Oct 2004	Message Posted: Aug 21, 2008 7:57:26 AM Ignore mahenv7 Report Abuse Worst is yet to come....beware...
Helms Champion Author Fort Worth Posts:3,012 Points:963,255 Joined:Jun 2005	Message Posted: Aug 21, 2008 7:56:30 AM Ignore Helms Report Abuse could be...historical trend has prices declining until January/February...then watch out!!!
Tnerbeel Champion Author Houston Posts:2,310 Points:490,760 Joined:Mar 2007	Message Posted: Aug 21, 2008 7:55:03 AM Ignore Tnerbeel Report Abuse I think naivety is the word
domer2 Champion Author Gary Posts:1,487 Points:500,925 Joined:May 2007	Message Posted: Aug 21, 2008 7:53:44 AM Ignore domer2 Report Abuse will be 5 next summer
ChiefHowe Veteran Author New Jersey Posts:391 Points:1,019,835 Joined:Apr 2005	Message Posted: Aug 21, 2008 7:51:07 AM Ignore ChiefHowe Report Abuse We need Iraq to pay a share of our costs for this war. They reap profits on oil, and we pay the bill.
ChiefHowe Veteran Author New Jersey Posts:391 Points:1,019,835 Joined:Apr 2005	Message Posted: Aug 21, 2008 7:50:56 AM Ignore ChiefHowe Report Abuse We need Iraq to pay a share of our costs for this war. They reap profits on oil, and we pay the bill.
Cuzilla Champion Author Indianapolis Posts:7,461 Points:1,303,325 Joined:Sep 2005	Message Posted: Aug 21, 2008 7:49:40 AM Ignore Cuzilla Report Abuse I have no response to this!
tags610 Champion Author Lincoln Posts:4,201 Points:874,890 Joined:Nov 2005	Message Posted: Aug 21, 2008 7:49:27 AM Ignore tags610 Report Abuse When it goes up they predict the price will double/triple, so I'm waiting for the stupid prediction that it will be a dollar a gallon.
OPECohno All-Star Author North Carolina Posts:552 Points:255,830 Joined:Aug 2007	Message Posted: Aug 21, 2008 7:49:02 AM Ignore OPECohno Report Abuse It's gone for now, but the price will return to $4 in the not too distant future.
ledoy Champion Author Dayton Posts:6,700 Points:1,350,725 Joined:Aug 2005	Message Posted: Aug 21, 2008 7:47:12 AM Ignore ledoy Report Abuse untill when?
soncorn Sophomore Author Missouri Posts:237 Points:416,040 Joined:Aug 2006	Message Posted: Aug 21, 2008 7:45:28 AM Ignore soncorn Report Abuse just because most Americans think it doesn't make it true.
dopster All-Star Author Toledo Posts:832 Points:1,115,250 Joined:Aug 2004	Message Posted: Aug 21, 2008 7:44:48 AM Ignore dopster Report Abuse The stronger dollar will help, but I'm not holding my breath. Just got my budget for home heating natural gas and it's gone up 20%. Business as usual should be over. WE NEED ALTERNATIVE, CLEAN, RENEWABLE ENERGY NOW!!
matman01 Champion Author Detroit Posts:7,197 Points:742,445 Joined:May 2007	Message Posted: Aug 21, 2008 7:44:37 AM Ignore matman01 Report Abuse We could only hope
The_WB Champion Author Detroit Posts:7,382 Points:813,350 Joined:Apr 2007	Message Posted: Aug 21, 2008 7:43:46 AM Ignore The_WB Report Abuse For now . . . .
foxups Champion Author Toledo Posts:2,817 Points:554,110 Joined:Feb 2004	Message Posted: Aug 21, 2008 7:42:56 AM Ignore foxups Report Abuse good now to get on with our lives