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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: 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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I was reviewing my family finances today and I got quite a shock. The price rise for the 6 months ending around November cost me an additional $2000 for fuel related spending, Combine this with an equal amount of prices hikes for all other items it totaled about $4000 more out of my pocket this year. Now for you rich folks $4K is probably nothing but for me it really has made things more difficult. I still have money for food and other basics but there is very little cushion for unexpected expenses which have a way of popping up. I live a very frugal life-style and I'm now closer to the edge than I've been in a long time. I worry that there are many other folks out there who were less frugal or who had less to begin with. If gas goes back to $4 or gets pushed higher by well meaning conservation taxes we may see some real "Grapes of Wrath" stuff.  Have a Happy New Year. DOLLAR GAS FOR 2009! 
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Replying to: oldfarmer50 (Dec 31, 2008 4:05 pm) I do hope 2009 is better than 2008 for you. I don't know if we can get gas to a buck a gallon. Maybe some of the less greedy states. If we can keep it under $2 we will be in better shape at the end of 2009 than we are today. If we can just keep the Eco terrorist out of power in our state and federal government there is a chance for recovery. CA is so far gone there is little hope here. Several cities are bankrupt with more on the way along with the state Government. They have all squandered the wealth of our Nation. Too bad they do not know what the word FRUGAL means. |
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The news reported this morning that despite the price of gas spiralling down into the basement the last 3 months, Americans STILL used 6.1% less of it during that quarter than the same quarter in 2007. Since the nationwide rise in gasoline consumption during the 20 years before that was a reliable 3-4% per year, that effectively represents close to a 10% reduction in use. Americans are learning. While demand remains low and sinking, I think $4 gas is a way off. |
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I hope for many things this year. 1. Gas stays under $2 so I can enjoy using my 16 mpg Silverado 2. My company stock goes up a 20 percent in the next month 3. House prices stabilize 4. Home Insurance becomes reasonable 5. Colts beat Chargers Saturday night |
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Replying to: nippononly (Jan 01, 2009 12:54 pm) Yeah, because the ones who were laid off aren't driving to work now.
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Replying to: nippononly (Jan 01, 2009 12:54 pm) I also hear that some dopes are back to buying SUVs as sales have taken a bounce. What are they thinking? Now that the gas hysteria has subsided is the time to buy those hybrids and 4-cyl, gas sippers. Buy the SUVs when gas is $4 and save a fortune. Some people would rather be blown by the wind than use their heads.
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Replying to: oldfarmer50 (Jan 01, 2009 3:06 pm)
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