$12 - $15 gal gasoline
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JHZR2
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There was a good discussion this morning that I heard, that effectively attributed all of the doom and gloom and speculators to the fact that most are only istening to those who are bullish on oil.
i.e. goldman sachs, and the other "oil prospectors" that are profiting on everyone else pumping it up.
Look at refinery capacty - only around 87% right now. Oil? we have a surplus, at least 1/2 MM bbl gasoline, and IIRC, 1.7MM BBL distillate.
Its a bubble. Folks have to trade money to make money, hdge funds short oil and then have to cover as people buy into the bullish realm.
Will oil be high? yes. Stay high? likely. But $92/bbl is what most economists believe is the stationary price. We're in a bubble just like dot com or real estate. Doesnt mean there isnt reality behind it, just like there is a speck of truth in every other bubble (well, maybe the tulip bulb bubble of 1671 was a bit far-fetched), but its no less a ridiculous self-perpetuated bubble.
Just glad Im profiting from it...
JMH
i.e. goldman sachs, and the other "oil prospectors" that are profiting on everyone else pumping it up.
Look at refinery capacty - only around 87% right now. Oil? we have a surplus, at least 1/2 MM bbl gasoline, and IIRC, 1.7MM BBL distillate.
Its a bubble. Folks have to trade money to make money, hdge funds short oil and then have to cover as people buy into the bullish realm.
Will oil be high? yes. Stay high? likely. But $92/bbl is what most economists believe is the stationary price. We're in a bubble just like dot com or real estate. Doesnt mean there isnt reality behind it, just like there is a speck of truth in every other bubble (well, maybe the tulip bulb bubble of 1671 was a bit far-fetched), but its no less a ridiculous self-perpetuated bubble.
Just glad Im profiting from it...
JMH
A loaf of bread will also be $15 at that time. It's all part of the bernankification process.
Platinum is $4430/oz right now, more than double what it was a few months ago. This is a giant run on the international banking system, because they put a fool in charge of the US's Fed who's just looking to keep people happy for the next election.
Platinum is $4430/oz right now, more than double what it was a few months ago. This is a giant run on the international banking system, because they put a fool in charge of the US's Fed who's just looking to keep people happy for the next election.
Kestas
Staff member
Once it starts climbing over $6-$7 a gallon, other technologies will kick in and take over the gas and diesel burners used in the transportation industry. But the price has to be sustainable over that level. You can't have industry and infrastructure come to fruition over alternate energy technologies if the price of gas falls back in a short time. It must be sustained in the long run over a number of years.
Originally Posted By: Kestas
Once it starts climbing over $6-$7 a gallon, other technologies will kick in and take over the gas and diesel burners used in the transportation industry. But the price has to be sustainable over that level. You can't have industry and infrastructure come to fruition over alternate energy technologies if the price of gas falls back in a short time. It must be sustained in the long run over a number of years.
I agree. The positive side to sustained high prices is the eventual replacement of carbon based fuel with hydrogen. No emissions except pure water vapour, which can eventually be reused to form more hydrogen through electrolysis, either with water generated electricity, solar, nuclear or even hydrogen. Bottom line, renewable energy and no carbon dioxide emissions.
Once it starts climbing over $6-$7 a gallon, other technologies will kick in and take over the gas and diesel burners used in the transportation industry. But the price has to be sustainable over that level. You can't have industry and infrastructure come to fruition over alternate energy technologies if the price of gas falls back in a short time. It must be sustained in the long run over a number of years.
I agree. The positive side to sustained high prices is the eventual replacement of carbon based fuel with hydrogen. No emissions except pure water vapour, which can eventually be reused to form more hydrogen through electrolysis, either with water generated electricity, solar, nuclear or even hydrogen. Bottom line, renewable energy and no carbon dioxide emissions.
Originally Posted By: oilyriser
A loaf of bread will also be $15 at that time. It's all part of the bernankification process.
Platinum is $4430/oz right now, more than double what it was a few months ago. This is a giant run on the international banking system, because they put a fool in charge of the US's Fed who's just looking to keep people happy for the next election.
I have a feeling all this is on purpose. The only fools are us .
A loaf of bread will also be $15 at that time. It's all part of the bernankification process.
Platinum is $4430/oz right now, more than double what it was a few months ago. This is a giant run on the international banking system, because they put a fool in charge of the US's Fed who's just looking to keep people happy for the next election.
I have a feeling all this is on purpose. The only fools are us .
The sheep are being sheared.
You youngster ,I tell my kids I remember 21 cents per gallon.
Originally Posted By: Steve S
You youngster ,I tell my kids I remember 21 cents per gallon.
So, if you compare the average cost of a new car when gas was going for 21 cents/gal to the average price of a new car in the last 5 years, I would say gas is at about where it should be, like everything else that has inflated in price over the decades.
Bring on hydrogen!
You youngster ,I tell my kids I remember 21 cents per gallon.
So, if you compare the average cost of a new car when gas was going for 21 cents/gal to the average price of a new car in the last 5 years, I would say gas is at about where it should be, like everything else that has inflated in price over the decades.
Bring on hydrogen!
I like to look at the price as how many hours of work it takes to buy a certain item.
That's what I do Steve. Went from specialty beers to plain old Miller Lite on sale. Don't drink bottled water anymore, instead installed a PUR faucet filter for pennies a gallon. Got rid of a V-6 SUV and went to a Corolla. When you stop to think how many hours you have to spend with some ahole boss breathing down your neck every day to pay for everyday items, you change your habits.
Quote:
Got rid of a V-6 SUV and went to a Corolla.
Was it a push?
Got rid of a V-6 SUV and went to a Corolla.
Was it a push?
Easy decision really..
3.5L V-6: 18 city/27 highway
1.8L Corolla engine: 33 city/41 highway.
Money saved on 4.00 a gallon goes into savings.
3.5L V-6: 18 city/27 highway
1.8L Corolla engine: 33 city/41 highway.
Money saved on 4.00 a gallon goes into savings.
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