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Automotive News & Views Are gas prices fueling your pain? 
10042 messages, Last post on Jul 12, 2008 at 3:07 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
...these high fuel prices aren't hurting me too bad is that I live a pretty simple life as it is. I don't have a cell phone. I have dial-up internet access, (Mr. Slowski the turtle would be ecstatic!). I have old CRT televisions, no digital camera, and no video games. I grow my own garden, drink cheap beer, have no kids, my girlfriend is relatively low-maintenance, and I take no exotic vacations. My monthly mortgage payment is <$1K. If I wanted to trim fat - I guess I could get rid of my cable TV and my cats. If I was really nuts, I'd get rid of both Cadillacs and just drive my hoopty Park Ave. I almost feel like it because I'm at the age where I have nothing to prove. A flashy new car is more important with the young guys who are still trying to impress the ladies.
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Replying to: bpizzuti (Jun 02, 2008 4:50 am) It sure looks like it to me. The middle class usually takes the beating. I am sure the price of gas will keep many at the bottom of the ladder from driving. The fellow that works for me is taking the bus and trolley back & forth to Mexico each day. Takes him 2 hours each direction to get the 45 miles to where he leaves his car parked. Saves him about $10 in gas. You can ride the bus and trolley all day for $5. |
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Replying to: bpizzuti (Jun 02, 2008 4:50 am) Those prices will hold as long as you're willing to pay it. When there are more people who want something then there is product, those paying the most get it. On the bright-side you don't need to be wealthy to make $ to pay your entire gas bill. For the last 5 years, and YTD many energy funds are up 20% each and every year. If you didn't tie up all your funds in an overpriced house, or buy expensive cars you could have taken $20,000 and put it in a energy mutual fund. You don't need to be a future's trader to make money.
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This is an article from CNN which speaks about the increase number of motorists running out of gas. Depending on where and when that can cause quite a backup and a lot of pain for the rest of us. In New York some years ago I believe there was a hefty fine for running out of gas on a bridge or in a tunnel. As distasteful as it may be if out of gas motorists becomes a large problem it may be time to issue fines on a highway as well.
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Good article in Business Week about the potential for oil prices to drop as the speculator-driven bubble is discovered and/or pops: Oil bubble Also, related article on Feds investigating trading: Feds investigate |
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Replying to: simpilot1 (Jun 02, 2008 5:59 am) As I said before maybe people are just spending their money on other things which they are unwilling to sacrifice the luxuries that are now considered necessities (or rights). |
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Replying to: kernick (Jun 02, 2008 5:38 am) Ok, let's see, I didn't tie up all my funds in a house (I rent, and share the place) or buy an expensive car (I bought a Mazda3 4 years ago...had to, my car of the time grenaded and I didn't have cash for a used car). However, I don't have money to spare to put money into energy futures. Many people are in the same situation, so it's just NOT a good idea to keep singing like just anyone could go make money off of this oil bubble. |
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Replying to: lemko (Jun 02, 2008 5:11 am) If I didn't have broadband, my employer wouldn't allow me to telecommute, & I'd have to go into my office 5 days per week instead of 2 or 3 days per week. Each day that I can work from home saves me enough to cover the difference between slow & fast for a month.
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Replying to: jimbres (Jun 02, 2008 6:58 am)
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Replying to: bpizzuti (Jun 02, 2008 7:00 am) But many people do have money as evidenced by the amount of property and stock in this country. Or if you have a 401K, what are you investing it in? I'm speaking to those people who have their money in money markets, bonds and relatively flat stocks, that you should be diversified into these energy funds. If you truly believe the world is short on energy, then don't invest in overpriced housing, or the Dow30, or a 2% bank fund. There are always going to be people who can't afford food or fuel in the world, that is the reality. We are not going to solve that.
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