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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: euphonium (Dec 28, 2008 9:56 pm) The question should be how soon will gas be $4 again? Should the rogue irresponsible nation use one of its ill-begotten nukes, we'll wish for $4 gas. It's a lot more likely than many will wish to admit.
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Gas prices fall for the ninth consecutive day (CNN) Win some free gas: steve_, "Auto Parts Bargains and Coupons" #273, 28 Dec 2008 9:40 pm |
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Replying to: fintail (Dec 29, 2008 10:35 am) "You're certainly correct there. Shortsighted strategy is coming to a reckoning point. I see the alliances you predict, and I agree with them. We are not the only team for the oil owners to join anymore, and that'll cost us. All it'll take is oil moving off the dollar...which will happen eventually. " Local report, The Woodlands Shell on Rayford-Sawdust ( N of Houston) selling rug for $1.17. gal. Tad of a gas war. Extremes. Nuff said. FT, Not as long as most would hope. Futures markets showing contango, lower prices near and early, higher going out. Near term Israel/Hamas may boost crude but intermediate + economic concerns over rule. Hard to get away from that old supply and demand. Real demand that is. Yes we will revisit the inflation driven commodities boom of '05-08 in '10. But simply because we've done nothing to rectify the problems of energy supply or the fundamentals of our currency. Rather put on hold for now but exacerbated by our growing debt. gg, good posts as always, post on sir! |
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Now we should be angry at Israel for trying to deter the daily rocket attacks? This while gas is $1.59? What would we do if Canada lobbed 100 rockets a day into Detroit from Windsor? I think they retaliated during a global eco recession, which would not cause more than a blip in oil prices. It's based more in the upcoming Israeli elections and how the candidates want to appear 'hard line'. We are knocked back 5 years economically by the OPEC and speculators greed. Don't hold your breath waiting for an economic recovery to restore 2007 fuel use levels. Those levels are a delicate balance of prosperity and affordability. If anyone thinks $4 gas was affordable, look at the news. Many posh hotels under construction in the Middle East are stalled due to the plans laid based on $150 oil. The US economy drives the world. If the world tries to screw the US as they did with $147 oil, they screw themselves. If oil returns to $140's, the hole the world has dug itself will get deeper. Everything came crashing down this year. The next crash will be worse, so I hope those in control don't set the stage for it. $2.09 would be the inflation adjusted price of gas today, based on the $1.53 we paid during Clinton's term. That assumes that we don't have an economic crash. However, we just had the mother of all crashes, so even $2.09 is out of line for 2009, and if it comes, we will not continue any recovery that gets under way.
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Replying to: dave8697 (Dec 30, 2008 4:32 pm) I do like how the greed of speculators and the artificially inflated prices of a mere 6 months ago served as yet another blow to the deflating overall economy, and the whole house of cards came crashing down. I hope some of the speculators are really in deep doo doo today.
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Replying to: dave8697 (Dec 30, 2008 4:32 pm) But that is off topic and had nothing to do with how we got $4.00 gas. And the rapid price drop indicates it should have never been at the $4.00 level in the first place. If the prices do return to $4.00 a gallon we need to be ready for a 1929 style of depression. But with any luck the OIL CEOs will jump out of the windows and if there is any justice they might land on a few OPEC leaders. |
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Replying to: fintail (Dec 30, 2008 6:40 pm) Some of them certainly are, but others - those who sold short because they figured that the market couldn't sustain $147 oil - had a very merry Christmas.
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Replying to: jimbres (Dec 30, 2008 8:26 pm) " Some of them certainly are, but others - those who sold short because they figured that the market couldn't sustain $147 oil - had a very merry Christmas. " Indeed they did sir. I think not so many at $147 because they were still following the trend but the break to $130 and then $120 clearly put in a reversal. Had the specs fueled by Goldman ($200 oil coming ) and Morgan Stanley Analyst ( $ 150 by 4th of July) respectively not created the paradigm we'd have never have seen the self corrective levels the specs brought it to.All the major brokerages had announced in Jan'08 that we were in a recession in order to entice the bailout. Recessions and commodity price spike's generally do not correlate. So their energy calls in April and late June seem to be bubble money trying to find a new home. Any news event good for a few points but from $147 to upper $30's in less than 6 months! Doth love and extremes and understatement seems lacking. The oil extremists are in the back corner now, they'll have to stay there for about a year. Two years from now they'll feel vindicated. Five years from now they'll finally google contango and gain the first inkling of the futures markets.But rejecting the economics as incongruent with their political philosophy they will quote peak oil, emerging nations or some other north of Oregon ( apologies gg) topical philosophy that makes it not only politically correct but organic, healthy and nutritious simultaneously.
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Replying to: duke23 (Dec 30, 2008 9:09 pm) No problem, I am retired from the still frozen Arctic. Living the good life in San Diego. I do hope the oil prices stabilize for a while. I see they have retreated this morning. I guess the skirmish in Gaza is not enough to get into the speculators wallets. |
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