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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: gagrice (Jul 16, 2008 12:39 pm) "There you go again" - badmouthing mass transit........(sigh) It works for millions of people worldwide. You don't hear me stating the fact that I and millions of other people live within 500 feet of a bus stop........... Every time I see you badmouth it, I'm going talk it up. Tit fer Tat. 
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Replying to: michaell (Jul 16, 2008 8:40 am) We have a station like that in my small Texas town. I think it's $1.39, but not sure. The New York Times ran an article a few weeks ago featuring Elizabeth, CO as an example of suburbs (or exurbs) that are failing because residents can't afford the daily commute to Denver anymore. Gas prices are eating up their disposable incomes, but they can't move, because no one is buying houses that far out of town. It's amazing how, from the early 1980s to the early 2000s, we never gave gasoline a second thought.
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I don't think we'll see $2 gasoline again. But I do expect prices to cycle back down to $3 in time for the November election. After that, we'll find $5 by next summer.
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Replying to: 1stpik (Jul 16, 2008 12:59 pm) How is it going to do that? What forces in the world oil market are going to change so dramatically in the next 4 months to bring about such a change? American politics has very little if anything to do with the world oil market. The average USA price today rose to another ALL-TIME HIGH of $4.114. What in the WORLD could happen to make gas lose $1.114 a gallon in the next 120 days? It would take an oil price drop of at least 25% by September and have oil not go back up. And demand would have to DROP significantly worldwide. Be specific in what you think could happen to make it drop 27% in 120 days !!! |
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Replying to: 1stpik (Jul 16, 2008 12:54 pm) 
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Replying to: larsb (Jul 16, 2008 2:23 pm) Well just as soon as every mom and pop has sunk their life savings into oil futures the big guys will dump their positions and start selling oil short. Their friends in the media will then ramp up a hysterical frenzy to the effect that the oil bubble is about to pop. The oil market plunges to under $100, mom and pop lose their shirts and the fat cats clean up in a downward market. It's happened before, it'll happen again.
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Replying to: oldfarmer50 (Jul 16, 2008 2:38 pm) Does it work for 401K accounts? How about PowerBall?
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It's been said that for every 5mph a person drives beyond 60, one can add about .40/gal. Since we have speed limits of 75 in Nebraska and 85 in certain parts of West Texas, people are effectively paying $5.20-6.00 gal/ aready. Therefore expect to pay this amount soon; the oil companies know we are already doing so indirectly. Since so many people are driving much faster than posted limits, $4.00 gas is probably no big deal for them. But it hurts their investments and retirement plans. Dollars "wasted" are lost on discretionary purchases and for bare necessities. Everyone suffers. I drive a fuel efficient car but still drive at posted speeds (65) and keep the tires properly inflated. The 4.00 price pisses me off because if people were to conserve, the price would go down quickly and there would be fewer accidents. A vehicle getting 18 mpg before but 20 mpg after a $200 tuneup recoups the cost of a tune up in less than 10,000 miles (actually about 9000). The rest is gravy. |
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Replying to: andre1969 (Jul 16, 2008 12:27 pm) 
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