JD45 Posted October 22, 2007 Share Posted October 22, 2007 They were going nuts on the nightly news when it was in the mid $60 range, and prices at the pump were too. We know it's coming, but why are they so quiet now? Is it because of the upcoming election? With $100 dollar a barrel oil only the rich will have a life here. Nobody else will be able to afford anything. Link to comment Share on other sites More sharing options...
maineshootah Posted October 22, 2007 Share Posted October 22, 2007 Is it because of the upcoming election? What you still burn oil? You haven't converted to a solar-biofuel-wind powered-grey water recycling life style? Shame on you.. According to some, we deserve $100 a gallon oil. The planet "has a fever" after all.... Stopping before I get censored. Link to comment Share on other sites More sharing options...
Sam Posted October 22, 2007 Share Posted October 22, 2007 The problem is two-fold and both are tied to supply and demand. World wide oil production has topped out and is starting to decline. All the easy oil has been produced already. Now we have to drill for the tricky stuff, and that's expensive. China and India are beginning to use much more oil as their economies expand. Less oil, meets more demand for oil. Part two of the problem, the Federal Reserve is printing U.S. currency at the fastest rate in history. At least until last March, when they stopped reporting exactly how much they were printing all together. This currency debasement has been going on almost unabated since August 15th 1971. It hasn't mattered which political party has been in power. The prices of real goods have been blowing through the roof, right along with oil. Milk is $4.00 per gallon. Copper is over $4.00 per pound. Lead has increased seven-fold in just 3 years. A new truck is over $40K and and average home is $160K. Right now, the cash burn for the conflict in Iraq alone is over 1/2 Billion per day and we ain't raising taxes to pay for it. It's so much more PC to just print the money. More dollars equals less demand for dollars. Throughout history, all fiat currencies have ended up the same way. Link to comment Share on other sites More sharing options...
EricW Posted October 22, 2007 Share Posted October 22, 2007 And once again, Sam absolutely nails it. Nobody will talk about it, but the exchange rates don't lie. If China wasn't printing money at the same rate the US is, we'd have 70's hyperinflation overnight. The music's gonna stop ... sooner or later ... Link to comment Share on other sites More sharing options...
Vulture Posted October 22, 2007 Share Posted October 22, 2007 Sam I hate to disagree with you but the national deficit has gone down more in the last 3 years than the preivious 50. It is slightly more than 1% of GDP. A robust economy means more tax dollars. Regular folks may not see it as much but the big wigs who think penis size is directly related to their stack of money are benifiting. The problem with oil is we haven't drilled for any in a bagillion years nor have we built a refinery. There is oil in ANWAR and off the cost of Florida and now I hear about big deposits in the arctic and you know what, we won't drill for any of it. The environmentalists have the White House by the short hairs and no politician is willing to take them on. Listen to the debates, does either side talk about exploiting any of these areas, nope. They talk about conservation, drive less, do more with less, and we will give you a shoulder to cry on and blame the other party. America was designed for travel, the whole economy is based on movement and the ease of getting from one place to another and now they want us to drive less. Oh thats smart. Here's a conspiricy theory for you. How many blackouts have there been since Enron went under. Now apply that theory to oil. Link to comment Share on other sites More sharing options...
uscbigdawg Posted October 22, 2007 Share Posted October 22, 2007 I forget where I read it, but an economic survey that basically Americans are willing to pay up to about $5/gallon for gas before they REALLY start looking for alternative means. Personally, I'm going to be seriously exploring Bio-Diesel. We are our own worst enemy. Traffic in metro areas could be greatly reduced with greater participation in car pooling and use of public transportation. However, we believe that it is our right and also more convenient (which I agree) to drive our own vehicle. That convenience comes with a price. Just my $0.02. Rich Link to comment Share on other sites More sharing options...
Carlos Posted October 22, 2007 Share Posted October 22, 2007 I forget where I read it, but an economic survey that basically Americans are willing to pay up to about $5/gallon for gas before they REALLY start looking for alternative means.Personally, I'm going to be seriously exploring Bio-Diesel. We are our own worst enemy. Traffic in metro areas could be greatly reduced with greater participation in car pooling and use of public transportation. However, we believe that it is our right and also more convenient (which I agree) to drive our own vehicle. That convenience comes with a price. Just my $0.02. Rich Make that .04 cents please - and not due to inflation. I simply agree with you 100%. Link to comment Share on other sites More sharing options...
JD45 Posted October 22, 2007 Author Share Posted October 22, 2007 Great info, but back to the main question. Why do you think that the news media is so quiet about oil hitting $89 a barrel? Link to comment Share on other sites More sharing options...
Chriss Grube Posted October 22, 2007 Share Posted October 22, 2007 Please don't talk about it and it will go away....I think Clinton said that about Monica! Must be a conspiracy. Link to comment Share on other sites More sharing options...
AZ38super Posted October 22, 2007 Share Posted October 22, 2007 They news being quiet about the oil price is strange but so are gas prices. They allways say gas price is based on the oil futures on Wall Street so if oil price is up to $89 then why have gas prices not taken a climb as well. There is something strange going on here. Link to comment Share on other sites More sharing options...
Chriss Grube Posted October 22, 2007 Share Posted October 22, 2007 Gas jumped from 2.72 to 2.89 in about 4 days here! Link to comment Share on other sites More sharing options...
Carlos Posted October 22, 2007 Share Posted October 22, 2007 (edited) They news being quiet about the oil price is strange but so are gas prices.They allways say gas price is based on the oil futures on Wall Street so if oil price is up to $89 then why have gas prices not taken a climb as well. There is something strange going on here. Crude oil is not the same as refined gasoline. But as you point out, gasoline prices are based on oil futures. They are also based on seasonal markets, and gasoline prices typically fall at the end of summer & into the fall as "vacation season" ends and before "winter heating season" begins. Logically, there is also a lag-time in the price increase of gasoline as that newly expensive crude oil is refined. The media will go nuts only when the price of gasoline finally goes up in December & all the SUV drivers start crying (though watch how they still cling to their beloved gas-guzzlers & whine about how they "need" such vehicles, even though they are primarily the only passengers day to day). Don't like the prices? Buy a smaller vehicle. Cheap gas ain't a "right". Edited October 22, 2007 by Carlos Link to comment Share on other sites More sharing options...
SiG Lady Posted October 22, 2007 Share Posted October 22, 2007 Petrol has risen greatly over the past few weeks HERE: I'm back to paying $3.30/gal for it and it was MUUUUUCH lower than that not long ago. Sorry, but I'M feeling the pain of the $90/bbl price right now. Link to comment Share on other sites More sharing options...
maineshootah Posted October 22, 2007 Share Posted October 22, 2007 Don't like the prices? Buy a smaller vehicle. Cheap gas ain't a "right". A smaller vehicle will not change the cost of gas, just your perceived consumption. 20 gallons in a SUV or truck will cost the same as 20 gallons in a smaller vehicle. Link to comment Share on other sites More sharing options...
Chriss Grube Posted October 22, 2007 Share Posted October 22, 2007 And when you're in your smaller vehicle and get your ass run over you end up with a toe tag.....but hell look at all the money you saved and how you were a great tree hugger, that will look great on the tombstone. Link to comment Share on other sites More sharing options...
Flexmoney Posted October 22, 2007 Share Posted October 22, 2007 ...all the SUV drivers start crying (though watch how they still cling to their beloved gas-guzzlers & whine about how they "need" such vehicles, even though they are primarily the only passengers day to day). Don't like the prices? Buy a smaller vehicle. Cheap gas ain't a "right". That reminds me of an email that I got from my sister this past year. My sister is a science teacher...as such, somewhat "green". She forwarded me...and her email list (of mostly teacher friends) one of those chain emails that suggest "we all stop buying gas this coming Tuesday". With the idea that that would somehow make a difference. I did a reply-to-all and explained econ 101 and how that would not make a dent in the supply/demand nature of things. I went on to explain how easy it would be to actually make a difference in your gas bill. All anybody would have to do is sell the gas hound they currently drive and buy something that gets twice the mileage. (Since everybody has trucks and SUV's, right) Bam! That right there would cut your gas costs right in half. You'd get the same amount of miles, out of half as much gas. And, if everybody did it...BAM BAM !! That would actually make a difference in demand...lowering demand, thus prices would drop...offering even more $avings. I then went on to explain that I'd need her to triple her gas savings...to make up for me. You see, I need my truck. I suggested that she get right with it and buy a scooter (70mpg?). Being that she is a horse person (barrel racing, trail riding...did I mention she pulls a trailer with a duelie?) she offered that we should all give up the cars and just ride horses. That is clearly 'big-horse' talk. I did not know that she was that deep in the horse-cartels. Link to comment Share on other sites More sharing options...
bountyhunter Posted October 22, 2007 Share Posted October 22, 2007 They were going nuts on the nightly news when it was in the mid $60 range, and prices at the pump were too. We know it's coming, but why are they so quiet now? Is it because of the upcoming election?With $100 dollar a barrel oil only the rich will have a life here. Nobody else will be able to afford anything. I think it's quiet because we should have all realized by now that it doesn't matter whether oil is $90 barrel or $.09 a barrel, gas oline is never going back below around $2.50. Big Oil gave us a test run: they hiked the price of gas above $3 and NOBODY cut back on their consumption...... and $3 is where it has been ever since, regardless of crude price. get used to it. Link to comment Share on other sites More sharing options...
bountyhunter Posted October 22, 2007 Share Posted October 22, 2007 Great info, but back to the main question.Why do you think that the news media is so quiet about oil hitting $89 a barrel? Because it hasn't reached $100 yet. That will be a bell weather... Link to comment Share on other sites More sharing options...
Jasonub Posted October 23, 2007 Share Posted October 23, 2007 time to buy that toyota hybrid Link to comment Share on other sites More sharing options...
Front Man Posted October 23, 2007 Share Posted October 23, 2007 Cheap gas isn't a "right" but cheap food has always been a "right"? Food is a fuel too and even with todays transportation costs it's still cheap. (Self edited to keep from closing the thread.) FM Link to comment Share on other sites More sharing options...
raz-0 Posted October 23, 2007 Share Posted October 23, 2007 I'll tell you why it is quiet. Oil could be $1000 a barrel, but as long as pump prices are not skyrocketing, it's not news. If gas prices don't go up, then you really don't care either when you get right down to it. Over the past few years, mostly what we have been paying for has been refinery capacity issues, which at the moment are largely under control. Think about it. When oil was $50 a barrel, gas was in the neighborhood of $1.55. At $100 a barrel, that'd be about $3.10. We've been WELL over that price, and it wasn't the oil. On top of that, OPEC has a rate supply increase scheduled for November already, and refinery capacity it coming online to go with it. The only thing that will make this news, which ahs been on the news, is how cold winter will be. IF it is cold, things will start getting tight. If not, those speculators driving oil up to the $100 mark are going to be unhappy. At least around here, the weather is looking to disappoint the right people. Who said global warming is a bad thing? Link to comment Share on other sites More sharing options...
p99shooter Posted October 23, 2007 Share Posted October 23, 2007 And when you're in your smaller vehicle and get your ass run over you end up with a toe tag.....but hell look at all the money you saved and how you were a great tree hugger, that will look great on the tombstone. That's nonsense. There's no data to support that larger vehicles are in any way safer. Most people that get injured or killed in wrecks because their forward momentum carried them into a solid object, either inside or outside the vehicle; the structure of the vehicle itself is irrelivant at that point. Big does not translate into safe. Link to comment Share on other sites More sharing options...
Nik Habicht Posted October 23, 2007 Share Posted October 23, 2007 And when you're in your smaller vehicle and get your ass run over you end up with a toe tag.....but hell look at all the money you saved and how you were a great tree hugger, that will look great on the tombstone. That's nonsense. There's no data to support that larger vehicles are in any way safer. Most people that get injured or killed in wrecks because their forward momentum carried them into a solid object, either inside or outside the vehicle; the structure of the vehicle itself is irrelivant at that point. Big does not translate into safe. You're going to have a really hard time convincing people who've gone on scene at multiple MVAs of that little tidbit..... Are there safe small cars? Sure Are there dangerously unsafe large cars? Sure Is it possible for the size of the car to have zero effect on survival? Sure But we've seen people walk away from crashes, because they were driving something large enough, and well designed enough, that there were sufficient crumple zones and occupant protection devices to permit the driver to survive. And we've seen the opposite with small cars --- where there's simply no room to absorb any kind of impact..... Now my experience of going to MVAs is about 20 years old, and I'm sure Chriss has been to 1 or 2 more than I have, and things could have changed in the last 20 years --- but when I was driving 20K miles annually for the paper, it was only in large cars, for the extra insurance they provide.... Link to comment Share on other sites More sharing options...
p99shooter Posted October 23, 2007 Share Posted October 23, 2007 Now my experience of going to MVAs is about 20 years old, and I'm sure Chriss has been to 1 or 2 more than I have, and things could have changed in the last 20 years --- but when I was driving 20K miles annually for the paper, it was only in large cars, for the extra insurance they provide.... If bigger vehicles were in any way safer, on average, than smaller ones, it would be cheaper to insure them. Insurance companies are all about statistics. They look at the data and decide what risk is associated with driving a particular vehicle. If big SUVs where statistically safer than mid-sized cars, then the insurance would be cheaper. Is it? I don't know for sure, but I doubt it. I drive a Scion xB, which is a pretty small car. It is NHTSA 4-star safety rating, and a "good" for the IIHS offset crash. AND is gets over 30 MPG. You don't NEED a big vehicle to be safe. That's my point. A lot of people drive around in huge vehicles with the mindset of "I'm bigger than you, so I can cut you off and run you over, you'll die and I'll only get a scratch." That's something the world can do without. Link to comment Share on other sites More sharing options...
ima45dv8 Posted October 24, 2007 Share Posted October 24, 2007 A lot of people drive around in huge vehicles with the mindset of "I'm bigger than you, so I can cut you off and run you over, you'll die and I'll only get a scratch." That's something the world can do without. You're right - we could do with less of that mindset. But that doesn't stop it from being true. My search-fu is weak tonight, but I'll try again to find this tomorrow. What I'm looking for were the published results of a highway safety and survivability study that came out approx 2 years ago and were reported in the local paper. It basically said that people in smaller vehicles who get in collisions with larger, SUV-type vehicles had a far greater chance of personal injury or death. I think that beauty queen from So. Carolina could've predicted those results. I remember thinking how much of my tax dollars were wasted on that obvious tidbit, and how that was part of why I had a Chevy Suburban sitting in the driveway. Link to comment Share on other sites More sharing options...
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