There is no oil shortage. The big oil companies aren't driving up prices.

This all because of the speculative futures market.

See what's happening with the housing market? Same deal. Prices go up for no real reason, eventually the bubble bursts and prices will fall. People will reduce their consumption of gasoline, prices will drop and these oil companies will take huge losses that will offset the massive profit they are making now.

WE NEED the prices to go up. Just watch how crazy fast hybrid/electric technology will grow over the next 2 years if prices continue to rise. Its going to be awesome.

 

I was talking about this stuff to my co-workers last week. Forget the $600 stimulus check, drill for oil off the coast, in Alaska and the midwest, get our gas prices back down to $1.00-$2.00/gal and watch the economy explode.

 

If one owns a Saturn 5 Rocket, it costs a great deal to fuel but once you've felt the THRUST why would you give it up at any price?
Enjoy the Ride...
Mike

 

I just read an AP article on Yahoo news about how gas prices are staying high even though the price of oil per barrel is going down, and demand for gasoline is down (approx 5.5% from last year). Prices are staying high because of threats in Nigeria. Wait... what? they're staying high because of threats? Last I checked, that's not how our economy works. I thought it was more of a supply/demand thing. Not a threat of lower supply/regardless of demand.

 

NAW NAW NAW

Oil is cheap and the gas price of 4$ is still a bit low, I have to get into this discussion.

We burn over 800,000,000 gallons of crude in the usa per day..................Thats crazy usage and the WORLD USES THREE TIMES AS MUCH PER DAY. [ 42 gallons per barrel ]

As an engineer I have been trying to add to those that are telling everyone to conserve.

Our standard of living is going to change in much less than 10 years and it will approach that of Europe........Hear me now.

Our big blunder is to not to have gone to solar years ago, there is more energy per day than we use by a long shot.

We as Americans have been addicted to CHEAP LABOR, CHEAP IMPORTS, AND CHEAP ENERGY.\\

That is over and we need to not have a society that has credit card debts over 10,000 to 80,000 dollars at interest rates WELL above 20%..................

Things are changing NOW and to overlook it means that there is less time to swerve out of the way of the CRUNCH that is coming. I have been preparing for years and there is so much happening that even I can not keep up.

In 1936 the University of Pa. Had a professor of chemistry try to suggest that we stop the burning of oil as a simple thermal fuel. Its properties are too important as a source of chemicals and should not be thought of as a fuel to burn.

The real issue is about 12 to 20 months out...........fertilizer is made from energy typically oil and NATURAL GAS. Ammonia, that is very important to our ability to grow food. The food riots are yet to grab the attention of the world. This will TRUMP ALL OTHER ITEMS IN A HURRY.

Energy issues brought on the First and Second world wars, ask Germany and Japan, which were restricted before the outbreak of hostilities

I never addressed the environment issues, there are others that can grind that Ax. Nuclear is another option but the start-up in a crash program is about 8-12 years.

Our fuel is cheap, ask Europe. I am not concerned for the cost that does not bother me..............I am concerned that we have it available.


As an OLD DUDE I remember the even odd day gas deal in the 1970's.......That is what killed my 1973 Dodge Challengers line in 1974....................OOPS in 2008 Dodge Challenger will suffer a similar fate I fear.

We are fortunate here and I am glad to be above 60 as I wont have to depend on gas for long, it will be at a premium soon enough, but having been on "The Other Side", and come back, I don't worry anymore, and thus my saying Life is short.......

Enjoy, just wanted to get my paddle into the water for those that will listen, we have it good NOW.

 

I think some common sense has to be used here(not just on this forum but everywhere in the USA). My jerk off neighbor had a loaded, one year old Navigator that he just traded in on a Toyota economy box. He got $23,000 for a trade. He probably lost $20,000 compared to a similar trade a year ago! At $5.00 per gallon he could have bought 4000 gallons of fuel! He could go 2-3 years on that fuel and might even paid for that monster.

Many people are scared and are on the verge of panic. Like a previous poster I to went through the 1974 crisis. My philosophy was to stay the course and it worked. I think that is what most people should do now. We're going to have a new Administartion and no matter what anyone says things will change - I don't know for good or bad but we should waite 'til then.

If I keep my foot out of the blower I can get 24mph. That is OK for now.

 

I've had way too many things to say on several other threads concerning this issue so I'll stay out of this one. BUT I'll probably keep driving regardless of what the price of gas is 'cept I won't be driving the SRT as much. It's time to get serious about this crap because unless the speculators in the futures market settle down we'll never see $3.00 p/gal. There is way too much money to be made by those individuals wealthy enough to play in the commodities world & unbridled (mostly) capitalism is what this country is built on today. I'm not saying that's a bad thing just that money drives money.
It's time for me to start looking for a more fuel efficient vehicle. It'll kill me but my job is waaaaaay over there & I'm waaaaay over here. That's the reality of the situation. Houses aren't selling so putting my home on the market isn't a realistic solution.
Oh, to heck with it.........ignore my first sentence!
Like Crossbowme, Waldig & several others have mentioned I too went through the Arab oil embargo in the seventies. It wasn't pretty & it changed the face of Detroit & the car world forever. We will & in fact already have, begun to see this today. Prius's are selling like hotcakes, we hear about alternative fuels everyday so things are changing & I have to agree with the changes I see. Ethanol?, nope: no long term viability, well not unless the producers start to develop an infrastructure & use some other biomass other than corn & sugar cane. Biofuel/biodiesel?, perhaps but it runs into the same issues as Ethanol. Hydrogen? Once again perhaps, but it will take a whole bunch of energy to create enough Hydrogen to fuel this nation.
Solar & electric cars do have a long term viability. Problem with solar is that there aren't enough sunny days, worldwide, to produce that amount of energy. We'd need to get the panels up yonder & we'd need to build them BIG. And, of course, that would create all kinds of other problems: who funds this project? Blocks of countries? A single nation? Business? Heaven forbid, the oil companies? Who protects it? Who maintains it?
But, the positives might just outweigh the negatives. We would still need the oil to produce plastics, fertilizers, grease, etc., etc. & we could eliminate the largest user of oil, the internal combustion engine.
We still don't utilize hydroelectric as we should, either. How many of you have dams somewhere close to your residence? How many have turbines installed? The state I live in is lucky in that regard as we have plenty of water available in rivers & streams. The Wisconsin River is loaded with dams, many with active generating capabilities (mostly used by the paper mills that line its banks), many with non-working turbines. Why don't we develop more hydro? It's reasonably cheap though not always reliable.
We have been spoiled & we've been frivilous. Like Cross mentioned above, our love of BIG STUFF is now coming full circle.
I've said this before but we just don't live long enough to understand what "long-term" means. Doubt me? Drive past a new strip mall somewhere that wasn't there when you were younger. Tell your children what used to be there. Watch as their faces change to non-comprehension. Their perspective just isn't there & can't be. You can close your eyes & visualize the field that the strip mall now occupies, your children cannot. Some of our younger members cannot understand what us oldsters went through during the early seventies, they cannot; their perspective isn't there. We have to be able to stop thinking in what the cost of gas is going to be tomorrow & start thinking about what we can do to help stop the slide or our younger members aren't going to be driving anything in the near future.
Man, I've just got to stop sucking beers while I'm on this forum. I apologize for the long ramble but I just felt the need to vent a little.
Now, back to Xfire stuff.......it's a lot more fun & a lot less depressing!

 

big oil is doing us like we did iraq"shock and awe" push it 5 we will be happy to pay three and so on. i mean how can gas go from 4.03 to 4.09 in a few hours here in san antonio? and then drop down again? or one station be 10 cents more expensive then a station 2 miles away? big oil is taking the american people for a ride and those who are supposed to serve us are doing nothing about it. oh wait senate hearings where big oil just kinda smerks and slaps us in the face. the value of our dollar is going down, we are printing money out of thin air, borrowing $ from china everyday to fund our war, all things we americans should be concerned about, but are we? no, instead we are more worried about,britney and her two kids or who is dancing with what star, or who the next willaim hung will be.

 

On the other side of the 'pond' I filled mine today and it was £57.80. Taking the £/$ rate at, say $1.94 that's the equivalent of about $112 a tank.

Am I giving up my SRT? No way! This is an oil price bubble. It will burst but the damage to the US and EU economies will be severe. Thing is, high oil prices will force down consumption and this reduced consumption will be permanent; it just takes a while to work it's way through.

So, all you hedge-fund bar-stewards who are driving this market to oblivion-I hope you lose the farm. You deserve it

Andy G

 

Andy, has the price of gas in Ireland been jumping all over the place, too? I'm assuming it would.

 

Today the price of 100 octane low lead avgas: $5.74. Last week it was $5.58.

 

Sure has, Kurts

I'm in the North so we are effectively part of GB. The prices here are about on par with England, Scotland, Wales. The thing is, about 80% of our pump price is tax And what does our wonderful governement do with all this extra dosh? Build new roads; improve public transport; reduce car theft? None of the above. The money goes to pay for things that have noting to do with motoring. Sure make you wann'a spit! Ptoohey!

Andy G

 

Any idea what Jet fuel is selling for?

 

Isn't jet fuel kerosene?

 

Sorry Andy, I missed the No. Ireland part!
Man, & we complain about our 20% or so of taxes (varies by state).

 

I love my baby veyron. It's not going anywhere. This *is* a bubble and prices will come down. 100 octane race gas by me is 6.74/gal. and premium runs about 4.50/gal.

 

Normally jet fuel is cheaper but the other day someone mentioned to me that it is now costing more than avgas. I'll have to check at the local FBO for the current price.

 

http://www.cnn.com/video/#/video/tec...ypermiling.cnn

don't be this guy! What a retarded zealot. I'd seriously pay the extra $50 a month in payment and just get a hybrid...

I'm currently averaging over 22 MPG in my SRT and that's ony about 50% highway, so you can tell I'm watching every drop...

I'm not doing much recreational driving anymore. No more "taking the long way home".

 

That's what I thought, but since diesel cost more than gasoline, I figured they probably jacked up the price of kerosene by calling it "jet fuel", that way it justifys the oil companies screwing us all the more.

 

I hear you!
I wonder why diesel is priced so high? As far as I know it is less expensive to produce & the demand cannot be as high as gasoline is, albeit it's used in greater quantities per vehicle (I wonder what the mileage is for a locomotive?).