Possible good news on the oil front?

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And I have some very nice ocean front property for sale here in Oklahoma. We will never see $2.00 a gal. gas again just like in the early 70's when we had lines blocks long and gas was $.75 a gal. and the world was runing out of oil until Exxon and Mobile and OPEC "found" $1.00 a gal oil all of a sudden we no longer had lines as there was plenty, now at least they are not saying its doomsday its just we want more for it and you will pay the price we want.If you think that setteling at $3.75 a gal is a bargin (just as we did at $1.00 a gal in '73) then hes right but don't expect it to "fall" to $2.00 a gal.
 
That is a great article, I believe that those governments(china, India, Middle east) are going to say "we are done paying $150 a barrel for oil" and they are going to dump that cost onto the people. They are not going to pay that, so the price will eventually fall back into what it really should be.
 
... if you want a real and dramatic adjustment to the cost of fuel at the pump, take oil and gasoline off the Commodities Exchange. It's the Commodities market that really forces the price of oil and gas to soar. Removing it from the exchange will eliminate the benefits to the Exxon's of the world, who buy "futures" as protection against losses due to fluctuations in the supply/demand. Once they have to assume the risk, they will certainly impact OPEC's decisions. OPEC is just following the Commodities speculators (many of which are institutional investors and companies like Exxon/Mobile and Shell) and raising the price based on Commodities Exchange activities. The Commodities speculators win on both ends of an increasing and decreasing market.

However, this will never happen. Politicians are not the least bit interested in protecting Americas interests and managing our economy, when there is lobbyists monies flowing so freely. That's why things like the S&L Crisis and Enron happened.

As for the contention that the price of petroleum products will drop like housing prices, forget it. Housing sales are stalled in many areas of the country, but prices will never drop to the point of some distant past affordable range. Once markets "settle in" to an "acceptable" level, they stay there. Gas will be the same. Until Americans reach their pain threshold and demonstrate it by serious changes in consumption, the Commodities speculators will continue to drive the price up. Look for $5 a gallon and a retreat to $3.75-$4.00...

Bring on Hydrogen Fuel Cells!
 
The whole year 1998 I never paid $1 or more buck for gas!!The most I recall I paid was .949/gal. The whole year I drove my car on premium, it was just 5 or 7 cents more than regular. The cheapest I paid this year was .81 cents.
Today I spoke with my brother in Germany, they are now well over $9 per gallon! Compared with this, $4 doesn't seem that bad......

Originally posted by arjudy

I keep a mileage log in my car and I was looking at it the other day and saw that I paid .799/gal in 1998. Seems impossible now.
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Again, it's not the rich countries of the world like Saudi Arabia that benefit from food aid...they buy food on the global market...it's poor countries like Burma (or is it Myanmar...I can't remember which they changed it to)...

The people that benefit from global food aid are those in poorer living conditions than the rich oil tycoons. Your method, Fred, of starving the poor to send a message to the rich wouldn't accomplish anything in my opinion. In times of strife, the poor get it in the butt, the rich don't notice it...that's why embargoes rarely (if ever) work...

There is plenty of food on the international market - Canada, Russia, Brazil, etc all produce food as a major export, and one of the major money-making commodities. Food will always be available to those who can pay...Food aid is there for those who cannot...Giving oil for food - sounds like a schoolyard tactic...give us your lunch money, or we'll take your lunch! :)

Not trying to be antagonistic, but I've seen this food embargo idea floated around way to much of late. It's time to look within to solve our oil dependency problem! :)
 
Originally posted by Scott

Originally posted by ahoiberg

we're finally reaching equilibrium... the price of milk/gallon = the price of gas/gallon
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Now if my car would only burn milk! [8D]

Scott.
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Don't say that in front of a dairy farmer, unless you've got a couple hours to listen to the "flaws" in your logic. BTDT!!
 
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