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Automotive News & Views How does gas at $4 and higher impact you?
2183 messages, Last post on Nov 21, 2009 at 5:13 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: larsb (Oct 13, 2008 12:46 pm) That would put gas today at $1.95-2.00 a gallon. That would be the expected and comfortable price today. The price at which conservation would not be required any more than it was required in 2001, when I got the V8. To be asked to dump my truck for 1/3 of it's orig. cost and go get a Mazda 3 with a manual trans for 2/3 the orig truck cost as getting out of my wasteful ways...no thanks, if $2 gas is an option. $2 gas would be nice and comfortable. We have all developed energy saving methods, besides downsizing, We have also decimated our domestic auto manufacturers through downsizing. If $2 gas can bring them back to health, put Americans in better jobs, help people make their car and house payments, stop the fire sale of our great companies to the Japanese and Chinese, slow down foreclosures and revive all our real estate, lets get there as quick as possible. The conserving ways will still follow that we have all developed. I hope the 11% gas price increases in a single day never return. Maybe the panic selling of last week on Wall St. will liken the panic buying of Hondas and Toyotas of this past summer. Unnecessary in the long term outlook. |
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Replying to: gagrice (Oct 13, 2008 7:57 am) " That was my wife's experience with Paine Webber. They took her $348k in profit sharing down to $106k during the Dot.com fiasco. She let them manage it. BIG Mistake. AG Edwards convinced her to sell a bunch of small stock holdings from a couple divestitures at AT&T. The commission was more than the stocks sold for. I do not trust stock brokers. Most people just do not want to play the market." Sounds like the 15% rule to me. 15% of any profession care about themselves more than their clients. Lawyers, Brokers, Cpa's, Real estate agents, what have you. People who are entrusted with fiduciary responsibility. 85% are honest and caring, 15% are clueless and unethical. Sympathies for you and your wife that you met one of the 15% . Typically every market except perhaps this one, which was interrupted by a mortgage meltdown goes through a process. Coming out of a recession which we have at least once a decade, money chases earnings which transitions from small cap value and culminates into small cap growth.And then ends up in a speculative bubble. Each decade the bubble will change. '70's alternative fuel sources, '80's bio-tech, 90's dot-com .Darwinian evolution says 99% must die in the ensuing recession but the 1% that live will prosper greatly. They all have in common, great appeal scientifically but poor economics. Not sure what the next one will be after we live through the recession go into the next market rebound (a while) and go through all the asset classes chasing earnings. Thinking perhaps nano. So dot -com was a bubble as was re as was oil . Try not to do business with the 15% or those that are too young to have experienced history . Respect big names in general, they have weathered storms. Rant = off . As always I like your posts. Look for that $2 oil coming to a store near you ('09 for sure), short term , look for a very cold winter .Read a good article how Venezuela has blown their future oil output. Mis-management of fields and general socialist faux pas. Viva la revoluccion'. Vladmir's , your friend you can trust him. Evidently the only one who pay's full price for their sour crude is the US.
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Replying to: duke23 (Oct 13, 2008 6:19 pm) So Venezuela has poor crude as does Iran? I would say that Chavez will get the royal shaft from Putin. What the Russians know about oil production you could put on the head of a pin. The USSR oil production was in a shambles when the Curtain fell. I know many people in the oil business from Alaska worked in the Russian oil fields getting them into good condition. Same with Azerbaijani oil fields. What a mess they had. It will take decades to clean up the mess the USSR made of things. I am sure there are still many US and British companies working in their production. Their pipelines leaked and got little or NO maintenance. I am sure they still have a lot of problems to overcome. I am not really complaining about all investment people. Our current asset management company like us to come in at least every 3 months to make sure we are happy with the way the money is invested. They have a big banquet at Christmas so you can meet all the staff and other investors. We were in today and it was not real pretty after the last few weeks. Today should help get back a few shekels. My wife was with Paine Webber for over 15 years and they did not keep her up on the market. Her company switched profit sharing to the current company around 2000. She would have been far ahead just putting her percentage in a savings account.
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| Regular gas by me is $2.82 | |
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Not that far from $2. 125 gallons x .65 = extra $81 to do 2400 mile round trip to S. Fl. now compared to if gas only went up 3% a year since '01 and was now $2. Lets see if these prices hold.
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Replying to: dave8697 (Oct 14, 2008 8:00 am) For the USA average to hit $2, it still has to come down almost 40%
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Replying to: dave8697 (Oct 14, 2008 8:00 am) I told you all that we could make it happen by chanting: "COME ON $2 GAS". 
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Replying to: oldfarmer50 (Oct 14, 2008 8:41 am) 
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Replying to: larsb (Oct 14, 2008 8:40 am) That makes the local percents: Gas is already down 37.5% from 4.19 It has 15.5% more to go to get to $2. The total fall to get to 2 would be 53% An annual fuel bill for 1200 gallons at $4 is $4800 The same at 2.65 is $3180 The difference will be about $140 a month That 140 is what people can't afford. The $65 more a month they could save with $2 gas isn't going to be a life saver.
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Replying to: dave8697 (Oct 14, 2008 9:48 am) Lutz agrees Remember all the bravado that Bob Lutz unleashed when we got our first glimpse of the Volt back in early 2007? Lutz has been the car's biggest champion since then, but he's thinking that there could be some tough news coming soon for this kind of technology. While the Volt is not named in an interview with Lutz by the LA Times that was published last week (so don't go starting any rumors), Lutz was pretty clear-eyed about what the recent dip in gas prices could mean: "We may hate high fuel prices, but they've been driving us in the right direction when it comes to fuel economy. If we suddenly went to $1 or $1.50 a gallon, that would be really bad." This is not a new topic, and we're in agreement with Maximum Bob on this one. We've written as much plenty of times, and we often refer back to this interview with David Cole where he talks about the benefits of an oil price floor for a barrel of oil. He suggested $40 or $45, but that was back in June 2007; more recent estimates I've heard from others put a reasonable limit at $60 or so. Whatever happens with oil prices, we can be pretty sure that a lot of old habits will return if gas keeps dropping. What will you change?
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