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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
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Replying to: gagrice (Oct 03, 2008 12:30 pm) You better hope for the sake of your grandkids that $2 RUG does not happen. Oil would have to hit $60 and stay there about a month for $2 gas to start happening in some places. Ain't HAPPNIN Amigo !!!!!!!!!!!
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Replying to: larsb (Oct 03, 2008 12:50 pm) Gas is down under $3.20 in most areas around the southern Twin Cities up in MN. |
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Replying to: larsb (Oct 03, 2008 12:50 pm) I think it will if we all get together and chant: "COME ON $2 GAS, COME ON $2 GAS!" Come on now, let me hear it. BTW, weren't you the guy who said there was no way oil would drop 27% in 120 days? Well, I guess you were right. It didn't drop 27% it dropped 40%. COME ON $2 GAS! |
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Replying to: duke23 (Sep 30, 2008 6:55 pm) to snakeweasel about the impending crisis to come: Lets see 1- (flash11 wrote) massive foreclosure rate now surpassing the great depression numbers, (snakeweasel wrote) Relatively few homes are being foreclosed on, IIRC less than 1% of the homes out there. Answer: more than 1.5% of homes are being foreclosed upon and will continue to grow as layoffs continue. This mere 1.5% has crippled the economic system in the US, led to the mortgage debacle, and has led to the crisis we are now in with the 'bailout'' and the huge credit crisis. As stated May 12 2008, this is just the tip of the iceberg. Prepare yourselves, the worst is not over yet. I believe we are in a major recession and more layoffs are still to come with even more foreclosures related to it. (flash11 wrote) 2-how many people lost their jobs within the last 3 years in the US especially in the automotive sector, (snakeweasel wrote) Unemployment is still rather low and lower than many analysts expected. Answer: Unemployment is not low, it is the one of the highest in a long time. The analysts have been wrong for a long time. From Jan/08 to Aug/08 600,000 people lost their jobs. One month later In Sept/08 alone 130,000+ people lost their jobs. 730,000 tax paying Americans lost their jobs!. This is not a drop in the bucket. This is an epidemic. A lot of these were good paying jobs. Paulson has made a lot of mistakes. We need new policy in place and take advice from successful people like George Soros and Professor Calameris (spelling?) of Columbia University. Take at least some of the $700B and use it to offer preferred shares in the failing companies (or give it to the successful Banks and buy out the ''bad banks'' who have poor policies and allow the good banks fix the problem.). The US is vulnerable, how much does China own of the US debt?? All China would have to do is call in that debt and the US would be in huge trouble (if not already). How does this relate to gas prices? The oil companies will continue to lower the price of gas based on demand. If you lose your job or can't pay for it, I guess you will not be able to buy gas, hence lower demand. I still say we need those new hybrid concept cars like the new Chrysler Jeep renegade concept (110mpg) or GM Saab 9-X concept cars and electric cars to become a reality. This will lower the price even further since they sip gas or don't use it at all. High gas prices limit transportation in this country. With lower prices, the economy may actually improve somewhat. We need alternative energy sources to help make this happen and become less dependent on foreign oil.
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Replying to: oldfarmer50 (Oct 04, 2008 2:27 am)  In reality the OPEC countries will have to produce more oil at $60 to maintain that cash flow. When you get used to a certain amount coming in and that is cut you look for ways to increase the revenue. Selling more oil is their only alternative. |
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Replying to: gagrice (Oct 06, 2008 5:39 am) These are the reasons for $90 oil, along with the fact that Americans showed all year long that if the price got too high, they WOULD (and did) conserve (and of course, countries like Indonesia with national price supports for oil dropped them when the cost became too high). Somehow, none of these tidings seem to warrant the glee with which you keep posting about the return of $60 oil and your fervent wish to see $2 unleaded again. In the face of all this bad news, isn't $2 gas kind of insignificant? Not that I expect to see that happen, I'm still betting $3 is the floor in California this year. It would be nice to be proven wrong there, but OTOH the price we may have to pay in other areas to prove me wrong is perhaps not worth it. |
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Replying to: gagrice (Oct 06, 2008 5:39 am) |
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Replying to: nippononly (Oct 06, 2008 7:07 am) Yep, oil might be down about 40% off its peak, but once the dust settles from today, my portfolio very well could be, too! So at that rate, $2.40 per gallon gas is still going to "hurt" as much as $4.00 did. 
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Replying to: nippononly (Oct 06, 2008 7:07 am) We'd go back to our wasting, polluting ways. Serious investment for alternative fuels and alternative cars would get neutered. People who started riding bikes (getting healthier, reducing our health costs) would go back to driving. More people who started using mass transit would start driving again. People who are carpooling now would go back to driving alone. The billions of gallons of gasoline we have saved will start getting used again. There are far too many good things about high prices for anyone to seriously disagree and say that we need them low again. |
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Replying to: nippononly (Oct 06, 2008 7:07 am) Depends on how we handle this. Adversity does not need to be a bad thing. Now, some people have been and are going to get hurt. I do not think anyone wants or likes this, but we are just paying a price right now. This year's run up in fuel prices was fast and jarring. Perhaps too fast, and its effects were widespread. The extended run up in housing prices was mitigated by some unwise choices. Now those mitigating factors have become aggravating issues. We're going to get through this. We will be stronger for it. Hopefully because the lessons will be hard learned, they will be better learned. We are at something of a crossroads. Cheap gas could just lead us back to some unwise habits. Lower priced fuel could also ease the way as we move forward toward a more sustainable future. Time will tell which path we choose. |
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