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Automotive News & Views How does gas at $4 and higher impact you?
2175 messages, Last post on Nov 05, 2009 at 3:05 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: oldfarmer50 (Nov 03, 2008 4:45 pm) a family member even drove their nissan armada over to visit for a while over the weekend. 
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Replying to: kernick (Nov 03, 2008 1:43 pm) No commodities traders get involved, everyone isn't paying $1 per board-foot today and $10 tomorrow, it just works like the sale of anything else.
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Replying to: nippononly (Nov 03, 2008 8:10 am) " So maybe they should stick to pork bellies. Nobody starves to death when the speculators go on a bidding war for pork bellies. They just switch to chicken (speaking figuratively here). Oil is a unique case, one in which there should be no commodities trading, no bidding for contracts. In fact, most energy trading should be the same way. Energy may seem like a market commodity, but in its many forms it is more a necessity of the American lifestyle than it is an option. Imagine the uproar there would be if there was commodity trading and speculation for water. " I knew we could agree! Thanks's for approaching debate honestly and not sticking your head in the sand or sadly refusing to acknowledge. Well right on! Oil was considered intrinsic enough to US national security that we established a strategic petroleum reserve after the '70's so that we could not be held hostage. If you'll check my older posts you'll see I've been consistent. Yet somehow gaming of oil based on a Goldman/Morgan proscribed paradigm was deemed acceptible. Of the nine oil speculation bills put before congress only one had teeth. Rep. John Larson (d) connecticut managed to get someone really in the know to advise him and proposed not increased regulation or a separate comittee with oversight or any of the other destined to fail while absorbing taxpayer dollars solutions but a brilliant concept that would cut to the core. Before anyone would be allowed to buy a futures contract on oil or gas, they must show the ability to accept physical delivery. No taxpayers dollars spent. Goodbye paper traders and hedge funds. At one time speculators made up only 5% of trading and were mostly individuals . Today's hedge funds account for huge multiples of that and have far deeper pockets . Avast! To the soybean pits with you.
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Replying to: duke23 (Nov 03, 2008 7:35 pm)
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Replying to: nippononly (Nov 03, 2008 7:14 pm) And if there's a shortage of timber or a suspected shortage of timber, then Home Depot pays more and raises their prices 50%. On the other hand lobster has dropped to $4.99/Lb due to a recent glut of it. But in a few months it could be $11.99/Lb. With something like oil there is going to be a lot of spikes and drops. I just look at it long-term. and figure sometimes things are good and sometimes things are bad. Figure on an average cost, but leave enough room in your budget for the bad times. |
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Replying to: gagrice (Nov 03, 2008 8:04 pm) Looks like today he's back in it. Oil is up over $7. Now that he's got Obama elected he has time to play with oil again. 
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Replying to: oldfarmer50 (Nov 04, 2008 9:24 am) I'm afraid you are right. I think his big thing is currency manipulation. Keep the market volatile and he makes money. Stability is a curse word to guys like Soros.
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Replying to: gagrice (Nov 04, 2008 9:28 am) "I'm afraid you are right. I think his big thing is currency manipulation. Keep the market volatile and he makes money. Stability is a curse word to guys like Soros. " Also ditto to OF50's comment re: Obama. Yah GS has been ticked at GWB for a long time. Short term oil may rise as the drop from$147 to $60~ ish has resembled an elevator with no brakes. Signs still point to a cold winter and now that anxiety has eased a bit we can pay some attention to opec's possible second output cut. For a while. Long term trend still down. Something to ponder in the coming months. WWGSD ? Soros do. Short the world currencies in favor of the dollar since we are a refuge in troubled times? Buy properties from ECB's and the US Govt for a song? My guess, slowly accumulate hard assets since the recession will be shorter than generally predicted, to be in place when inflation rears it's ugly head once more. Given the printing press speed in DC as BTO said, " You ain't seen nothing yet". |
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We all get to ride on a high speed train..  LOS ANGELES (AP) - California voters are green-lighting the nation's most ambitious high-speed rail system, approving a nearly $10 billion bond to put speeding bullet trains capable of topping 200 mph between the state's major metropolitan areas. The measure, which passed with 52 percent support Tuesday, will fund the first phase of what is projected to be a $45 billion, 800-mile project built with state, federal, local and private money. Backers sold the proposal as an innovative alternative to soaring airfares and gas prices. In the closing weeks of the campaign, they touted estimates that it would create nearly 160,000 construction-related jobs and 450,000 permanent jobs. Hmmmm, 450,000 permanent jobs. So with wages and benefits that comes to about $33 billion per year. Wonder how many passengers that will take to pay for? Most realistic figures peg the overall cost at $90 billion. The state is currently broke. Many cities are laying off cops and firefighters. Makes you wonder where people have their heads. |
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Replying to: gagrice (Nov 06, 2008 8:57 am) With Obama at the helm in the White House and a majority in both Houses, his vision for 'change' and his version of FDR's 'New Deal,' we can hopefully have the trains operating within 6 years with the entire network completed by 2020. The 800-mile rail line would link Anaheim, Los Angeles, Fresno and San Francisco. Project planners also want to eventually add Sacramento, San Diego and Oakland. "The citizens of California have put the 21st century golden spike in the ground," pronounced Quentin Kopp, chairman of the California High-Speed Rail Authority. No more congested airports, no more removing belts and shoes for security, no more dreaded drive down Highway 5 and contributing to the smog of LA. Instead you'll be able to sit back and relax while traveling up to speeds of 200mph. You'll arrive inspired with plenty of time to see Mickey and his friends. No doubt, the trip will be in an air-conditioned, sound-proofed cabin, with comfortable seats, big windows and plenty of leg room. You'll even be able to enjoy in a nice glass of wine, perhaps take a nap, or catch up on some reading. For the busy business commuters and techaholics there will even be wi-fi connections available for use. The rest of the modern world has enjoyed the benefits of high speed rail for several decades now and it is about time the Golden State caught up with the implementation of slick mass transit, especially if we are serious about cutting back on pollution and wasting millions of hours each year sitting in traffic. And: Questions & Answers Will the high-speed train system create new jobs and boost our economy? Yes. The statewide high-speed train project will require us to draw upon and expand California’s skilled workforce, creating nearly 160,000 construction-related jobs to plan, design and build the system. An additional 450,000 permanent jobs are expected to be created by 2035 as a result of the economic growth the train system will bring to California. High speed trains will further boost California’s economy by: * Improving the movement of people, goods and services throughout the state; * Generating more than $1 billion in annual revenue surplus; * Reducing travel times for train riders; * Reducing delays to air and auto travelers as freeways and airports are relieved of congestion; * Reducing air pollution and related health care costs; * Reducing auto accident fatalities and injuries and related health care costs. How much does our broken transportation system cost our economy? California has three of the top five most congested urban areas in the United States. Right now, congestion costs approximately $20 billion per year in wasted fuel and lost time. What would be the cost of expanding our highways and airports to meet future intercity demands instead of building the high-speed train system? To serve the same number of travelers as the high-speed train system, California would have to build nearly 3,000 lane-miles of freeway plus five airport runways and 90 departure gates by 2020 – costing more than twice the high-speed train system and having much greater environmental impacts. What’s more, the proposed high-speed train system will provide lower passenger costs than for travel by automobile or air for the same city-to-city markets. See, Gary, it's not just money down the trash compactor. It will GENERATE revenue and SAVE wasted gas money and pollution. Don't be such a hater, dude !!! |
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