southsider2k5 Posted April 8, 2005 Share Posted April 8, 2005 (edited) http://news.ft.com/cms/s/a3b6a0c2-a792-11d...000e2511c8.html Edited April 8, 2005 by southsider2k5 Quote Link to comment Share on other sites More sharing options...
NUKE_CLEVELAND Posted April 8, 2005 Share Posted April 8, 2005 Watching CNBC this morning there are a bunch of traders on the street saying that the bottom is about to fall out on oil prices. Go figure. Quote Link to comment Share on other sites More sharing options...
Soxy Posted April 8, 2005 Share Posted April 8, 2005 I am doubly glad my new car gets 30/38 mpg.... I honestly cannot imagine driving a big truck or SUV with prices like this..... Quote Link to comment Share on other sites More sharing options...
EvilJester99 Posted April 8, 2005 Share Posted April 8, 2005 I had 2 SUVs until I traded one in the other day and I was paying over $80 a week in gas.... Quote Link to comment Share on other sites More sharing options...
NUKE_CLEVELAND Posted April 8, 2005 Share Posted April 8, 2005 QUOTE(ChiSoxyGirl @ Apr 8, 2005 -> 09:06 AM) I am doubly glad my new car gets 30/38 mpg.... I honestly cannot imagine driving a big truck or SUV with prices like this..... A little math. 25 gallon tank 2.50 or so a gallon. $62.5 dollars for a tank of gas 15 MPG ( I'm being generous on the mileage ) You fill up your tank 3 times a month we're looking at 186 dollars a month just to fuel the monster........to say nothing of insurance and payments. Quote Link to comment Share on other sites More sharing options...
Soxy Posted April 8, 2005 Share Posted April 8, 2005 QUOTE(NUKE_CLEVELAND @ Apr 8, 2005 -> 09:11 AM) A little math. 25 gallon tank 2.50 or so a gallon. $62.5 dollars for a tank of gas 15 MPG ( I'm being generous on the mileage ) You fill up your tank 3 times a month we're looking at 186 dollars a month just to fuel the monster........to say nothing of insurance and payments. Wow, that much gas alone is more than my payments AND insurance....Wow..... Quote Link to comment Share on other sites More sharing options...
FlaSoxxJim Posted April 8, 2005 Share Posted April 8, 2005 If only we could have seen this coming... this time when an unsustainable resource that takes 10s of millions of years to form naturally would begin to cost so much that we would have no choice but to seriously start to make strides away from the fossil fuel economy/mentality that we have embraced fro nearly 200 years... If only the scientists who know about these kinds of things woudl have given us some kind of a warning... No, wait, er... ummm.... Nevermind. Quote Link to comment Share on other sites More sharing options...
Queen Prawn Posted April 8, 2005 Share Posted April 8, 2005 Filling up is painful now a days - 2.40 for 87 octane by me (home and work ). Quote Link to comment Share on other sites More sharing options...
NUKE_CLEVELAND Posted April 8, 2005 Share Posted April 8, 2005 (edited) QUOTE(ChiSoxyGirl @ Apr 8, 2005 -> 09:12 AM) Wow, that much gas alone is more than my payments AND insurance....Wow..... I get 28 MPG city and 32 MPG on the highway with my Stratus. Pretty decent and I can fill up for about 30 bucks or so even eith prices as high as they are. Where I am in AZ its like 2.49 a gallon for Shell regular unleaded and 2.69 for premium. How bad is it up in Chi Town? I buy my gas on base and only pay like 2.15 a gallon. No taxes. Edited April 8, 2005 by NUKE_CLEVELAND Quote Link to comment Share on other sites More sharing options...
NUKE_CLEVELAND Posted April 8, 2005 Share Posted April 8, 2005 QUOTE(FlaSoxxJim @ Apr 8, 2005 -> 09:13 AM) If only we could have seen this coming... this time when an unsustainable resource that takes 10s of millions of years to form naturally would begin to cost so much that we would have no choice but to seriously start to make strides away from the fossil fuel economy/mentality that we have embraced fro nearly 200 years... If only the scientists who know about these kinds of things woudl have given us some kind of a warning... No, wait, er... ummm.... Nevermind. What you dont understand is that there is no shortage of crude oil. The problem is twofold. - First you have a shortage of refining capacity thanks to laws on the books preventing the construction of new capacity. - Second is that the price of oil and gasoline is set by traders on mercantile exchanges and they will bid up the price anytime there's a small supply disruption, terror attack, an oil executive sneezes, whatever. Adding to that you have an enormus amount of interest from hedge funds who are bidding the price of oil higher and higher with a momentum play. It all feeds off itself and it's creating a bubble which , according to a lot of traders on the street, is about to burst. Quote Link to comment Share on other sites More sharing options...
FlaSoxxJim Posted April 8, 2005 Share Posted April 8, 2005 There is no immediate shortage of crude. But there is a growing demand from developing nations that will increase demand geometrically over the next two decades. The 50 year horizon is still not unrealistic as far as a time when most of the world's energy needs will have to be met through non-fossil fuel means, and a lot of people think that projection is optimistic. Quote Link to comment Share on other sites More sharing options...
NUKE_CLEVELAND Posted April 8, 2005 Share Posted April 8, 2005 QUOTE(FlaSoxxJim @ Apr 8, 2005 -> 09:30 AM) There is no immediate shortage of crude. But there is a growing demand from developing nations that will increase demand geometrically over the next two decades. The 50 year horizon is still not unrealistic as far as a time when most of the world's energy needs will have to be met through non-fossil fuel means, and a lot of people think that projection is optimistic. I agree with you that we're going to have a problem down the road but the current problem with high oil prices is speculation driven and that will correct itself over time. Quote Link to comment Share on other sites More sharing options...
TheBlackSox8 Posted April 8, 2005 Share Posted April 8, 2005 anyone that has an electric car is loving life right now..... But how hard is it to find a place to "fuel" your electric car? Quote Link to comment Share on other sites More sharing options...
FlaSoxxJim Posted April 8, 2005 Share Posted April 8, 2005 QUOTE(NUKE_CLEVELAND @ Apr 8, 2005 -> 10:34 AM) I agree with you that we're going to have a problem down the road but the current problem with high oil prices is speculation driven and that will correct itself over time. Agreed. It jsut doesn't seem like we're currently investing enough in prepering for a coming oil crisis that is inevitable. How can 2050 be so far into the future that everyone is so complacent about the demise of the energy economy as we know it, when at the same time 2040 is right around the corner and catastrophic collapse is imminent (sp?) if we're talking about Social Security? Which is going to cause more trouble for the world – SS gets to the point that it's paying out more than it's taking in, or no more economically recoverable oil? Quote Link to comment Share on other sites More sharing options...
Rex Kickass Posted April 8, 2005 Share Posted April 8, 2005 I'm paying 2.02 in New Jersey. Quote Link to comment Share on other sites More sharing options...
DonkeyKongerko Posted April 8, 2005 Share Posted April 8, 2005 Time to start taking the bus. Last time at the gas station, I just stopped filling up at around $25 because I couldn't stand to pay so much. Quote Link to comment Share on other sites More sharing options...
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