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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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"The price of oil burst through the $71 a barrel mark today amid revelations that proven reserves had fallen for the first time in 10 years and predictions that the price could eventually hit $250. The febrile atmosphere in oil markets was fed by the publication of BP's Statistical Review of World Energy, which showed that the world's proven crude reserves had fallen by 3bn barrels to 1.258tn by 2008 from a revised 1.261tn in 2007." Oil price leaps to year's high (Guardian UK)
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Replying to: steve_ (Jun 10, 2009 9:47 pm) 
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Replying to: steve_ (Jun 10, 2009 9:47 pm)
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Replying to: fintail (Jun 11, 2009 8:40 am)  ) $33.41. Then the Intrepid hit me on 6/2 for $32.90. Then the Intrepid hit me again on 6/8, because I had gone to Carlisle and back the weekend before...$30.20. That same day, I filled up my blue NYer, and that one hit hard...$53.40!  The pickup hit me up for about $35 yesterday, and just today, I drove my 5th Ave and decided to fill up before prices shot up any further. That one hit me for $35.05. So damn...almost $220 in gasoline, in the course of about 11 days! I'm in pain! I wonder what fuel prices are going to be in a few weeks, when I take the Catalina to the GM show in Carlisle? It has a 26 gallon tank, so I might be able to fill up just before I leave, and not have to worry about it until I get back home. I'm kinda curious to see what kind of fuel economy it's going to get on this trip.
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Replying to: steve_ (Jul 14, 2008 10:52 am) |
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when someone would point out that in this year when "the deep recession will ensure gas never gets above $2.50", I am paying $3/gallon already and it isn't even July 4th yet. Let's take another wild ride as Americans' consumptive habits bite them in the butt once again.....
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what happened to Germany before the second world war. Rather than find a way to manage the market in a true capitalistic way we decided to spend money we didn't have to bail out a market that didn't respond. There was no revenue coming in from spending or even buying so all the government could do was print more money. But that money isn't backed up with anything so sooner or later it becomes worth less and so it takes more to buy the same amount of goods as it once did for less money. Think how bad this would have been if we would have raised taxes on fuel when it was low. The price would have gone up anyway and we would have had the whammy of paying higher taxes and higher prices for fuel. Employment is still going down and business is still suffering and the government is still printing more money. I am afraid we are about to see inflation like we have seen since Carter. The country maid no provision to control speculators and they can tie up 100 dollars worth of assets with 10 dollars. They can't be stopped unless they are made to pay more to get into the game and that didn't happen. I doubt if it ever will because the speculators are often part of the same clubs that our congress members are. I will drive less and spend less on vacations and many will do the same. It won't keep it from effecting me because food will go up and utilities will go up and people will lose even more jobs. We lowered consumption and prices went up. Refineries slowed production to try and increase profits. Use will go down more and there is a plan by government to increase taxes on fuel and that will decrease useage even more. So production will have to be cut more and the circle will continue until we get some kind of balance. But it just may be time to get off the need for oil as a major transportation fuel. we may have to see a collapse of the auto industry as we know it and see something replace it with renewable energy. Now may be the time to get off of the ICE bandwagon and go EV or something else. Whatever happens we are just beginning to go into this downturn and we are no where near the bottom. In effect Chrysler is gone and GM is GM in name only. OIL is almost like a narcotic in how we use it and like a narcotic we may have to learn to go cold turkey if we don't learn how to get off of it by cutting back to nothing over time. Just what I get from watching the media and forming an opinion. 
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$2.20 is great. $2.89 sucks. At $3.00 more job losses will start and Honda will start eating into domestic sales again. Last year was the worst in 51 years for summer jobs. This summer is the worst in 53 years and that was with $2.25 gas of a month ago. I still think the oil sellers and speculators will squeeze the world for all it has. There will never again be a DOW 10,000 in 2007 dollars. America has lost nearly $15 Trillion of wealth in the last 16 months. Only about 1/3 of that $15T was artificial real estate wealth from the bubble. |
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Replying to: boaz47 (Jun 11, 2009 1:54 pm) |
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Replying to: nippononly (Jun 11, 2009 11:58 am)
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