$5 Gas in 2012?

[Vedubin01]

Fuel consumption is down about 30% from 3 years ago, so why are the prices rising?

[gwb72tii]

Fuel consumption is down about 30% from 3 years ago, so why are the prices rising?

thank you!

can u say dollar devaluation? and this pres/fed cheif are specifically trying to inflate our way our of too much gov't spending by devaluaing the dollar.

this has nothing to do with demand/supply, at least not at this particular moment.

[slammin.e28]

Maybe if we would drill up that vast reserve we have under Arizona and not give a fvck about some dumb antelope instead of letting the Saudis ream us.

Also, what's the use in chilling in Iraq for so long if we're not taking advantage of it. We need to revert back to the 17th century imperialism sh!t and take advantage of places we occupy. It'd create jobs over there too, helping the Middle East!

Also, if we wouldn't outsource to China & Mexico for everything and impose larger tariffs on stuff imported from said countries, maybe companies would move back stateside and provide jobs to the, what is it, 15%? (it will be 15% by the time I'm done typing this) unemployed. Why employ the rest of the world when we need jobs here?

But I digress. This is a thread about gas, not how badly the current administration is handling things.

[nando]

oh, now you've opened a can of worms.

Yeah, tarrifs totally work. they worked really well during the great depression, too.. ;)

[slammin.e28]

oh, now you've opened a can of worms.

Yeah, tarrifs totally work. they worked really well during the great depression, too.. ;)

Remember, that was a global depression, which, might I add, led to Hitler's ascension to power. Nobody had money to spend.

I love opening the can of worms. I'm sure they don't like being cooped up in a small, metal container. I know I wouldn't.

[Vedubin01]

not how badly the current administration is handling things.

Sadly it does.....

A good read...

http://blogs.reuters.com/jim-saft/2010/11/04/enter-the-era-of-dollar-devaluation/

[z31maniac]

Maybe if we would drill up that vast reserve we have under Arizona and not give a fvck about some dumb antelope instead of letting the Saudis ream us.

Arizona? Are you sure you aren't talking about A.N.W.R.?

I'll assume you meant ANWR, so in that case, if all the recoverable oil in ANWR were available tomorrow have any idea how long it would it last?

If supplying America for all the oil needs, ANWR would provide an approx 6 month supply.

Hardly sounds like a fantastic solution to the problem.

[freeride53]

[without inserting my political opinion]
If the gas price does indeed go four, I'm gonna have to stop driving my car daily...but, I'm going to college next year so It doesn't fully apply to me anymore.
Current gas price p/L in Frankfurt: $5.57

[slammin.e28]

Arizona? Are you sure you aren't talking about A.N.W.R.?

I'll assume you meant ANWR, so in that case, if all the recoverable oil in ANWR were available tomorrow have any idea how long it would it last?

If supplying America for all the oil needs, ANWR would provide an approx 6 month supply.

Hardly sounds like a fantastic solution to the problem.

Sorry, I meant out West in general. Donno why I was thinking AZ.

http://www.azcentral.com/arizonarepu...shale0529.html

[nando]

Remember, that was a global depression, which, might I add, led to Hitler's ascension to power. Nobody had money to spend.

I love opening the can of worms. I'm sure they don't like being cooped up in a small, metal container. I know I wouldn't.

it was a global depression because of a huge drop off in trade caused by trade restrictions and tarrifs that local governments instated to "protect" their local economies. it started out as a big recession just like the one we're in now.

[deutschman]

well i personally don't think it has that much to do with obama and his administration. maybe a bit.
i think most of the high oil prices are do to the manipulation by the oil companies. all they need to do to get the oil prices to rise is cut back on production and BLAM the prices sky rocket because suddenly there is not that much oil and everyone still wants it.
at that point it does not matter what your administration is doing to your currency. the $ could still be worth what it was but the oil price would still go up because of demand.
maybe i will be selling my lovely '02 and getting a motor bike.
who knows. i just think that we as a country are headed into some really bad times where everyone is going to have to get used to living with a lot less then they lived with before.

[nando]

yes, it's definitely the evil oil companies. lol :p

[z31maniac]

Sorry, I meant out West in general. Donno why I was thinking AZ.

Even the article you quoted, which is 3.5 years old btw, says it "could" be profitable "if" the technology "proves itself."

That's a lot of hoping.

[Vedubin01]

Z31,

I dont know how long you have lived in Tulsa Ok, but Tulsa was once the Oil Capital of the world. As a kid I grew up in OKC and had a house on Grand Lake in Tulsa. My family was in the oil business, owning a company called Poole Oil Services, and Trailblazer truck and crane. Poole was a well service and Trailblazer was the trucking company that moved the massive amounts of pipe used in oil drilling.

In 1986 the local economy collapsed. The housing market in OK and TX plummeted and still today has not reeled back from the "good ole days" because of the oil collapse.

In 1986 OPEC was forced to lower its price on the world oil market because other non OPEC countries were producing oil cheaper then them. OK and TX did not run out of oil, just the cost to produce was more than purchasing it overseas. Coupled with new Gov. regulations it forced local Oil companies to cap the wells and move on.

The United States is far from running out of oil. Its about cost and using up other resources before re tapping into the US oil supply.

The only way to lower gas prices in the US currently is to regain value of the Dollar and open up the tight regulation Gov. has put on the Oil Industry.

[Vedubin01]

well i personally don't think it has that much to do with obama and his administration. maybe a bit.


i just think that we as a country are headed into some really bad times where everyone is going to have to get used to living with a lot less then they lived with before.

Deutschman, do you think the US dollar is worth the same as it was say 10 years ago?

As a business man, you produce a product that can be sold world wide. Do you devalue your product to keep prices the same in one market or take your product somewhere else to make more?

Our current Admin is betting on lowering the value of the Dollar to repay the loans its borrowed from China. Printing money to pay back the loan is what the US is doing. But doing that forces the Dollar to fall because there is so freaking much of it in circulation.

Timmy and Bernanke are betting on this. Repaying with Cheap money to get us out of this debt. But the reverse side of that is inflation. Only way to combat that is to raise taxes to recoup the massive amounts of US Dollar on the market.

We are seeing the start of this. Inflation in food, and fuel. Thus the trickle down effect passing the cost onto other goods and services.

We can not go on forever with our current interest rates. Ask your parents if they lived in the US back in the early to mid 80's. Ask them what their interest rates were on Credit Cards and Home Mortgages. Around 18% on homes and not uncommon to see credit cards rates in the 20% plus range.


Its only the start of more bad things to come. Things are really going to get tight.