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Gasoline could drop 50 cents/gallon by spring

Discussion in 'Fred's House of Pancakes' started by malorn, Feb 7, 2008.

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  1. malorn

    malorn Senior Member

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    The melt down started a over a year ago. It just took longer for the main street economy to feel the pain. i don;t take any credit it is just the laws of economics. The same can be said about the US running a trillion $/year trade deficit with the rest of the world. The housing bubble hid the destruction for awhile but now it is time we pay the piper.
    As for business, it is tough, but I would assume you already knew that. I am in the midwest where most of these industrial jobs have been lost so it has been tough here for 3-5 years. We did not have nearly the housing bubble here that much of the rest of the country had so I suspect the recession wil not be quite so noticeable here.
     
    #561 malorn, Oct 28, 2008
  2. Neddleton

    Neddleton Yacht Club Prius

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    PEAK OIL



    Neddleton
     
    #562 Neddleton, Oct 28, 2008
  3. malorn

    malorn Senior Member

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    What do you mean?
     
    #563 malorn, Oct 28, 2008
  4. darelldd

    darelldd Prius is our Gas Guzzler

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    Yeah, I'm afraid that we'll need a weee bit more flesh on that one.
     
    #564 darelldd, Oct 28, 2008
  5. dogfriend

    dogfriend Human - Animal Hybrid

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    Could we have a verb? :madgrin:
     
    #565 dogfriend, Oct 28, 2008
  6. qbee42

    qbee42 My other car is a boat

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    How about buying a vowel?

    Tom
     
    #566 qbee42, Oct 28, 2008
  7. dogfriend

    dogfriend Human - Animal Hybrid

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    Maybe it is like Wheel of Fortune?

    PEAK OIL I_ _E_E

    Would anyone like to solve the puzzle?
     
    #567 dogfriend, Oct 28, 2008
  8. tripp

    tripp Which it's a 'ybrid, ain't it?

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    dogfriend,

    I'd like an 'R', if you please.
     
    #568 tripp, Oct 28, 2008
  9. malorn

    malorn Senior Member

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    Define Peak oil for me.
     
    #569 malorn, Oct 28, 2008
  10. jayman

    jayman Senior Member

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    Who would have thunk a major global recession would cause the price of fuel to drop so much? Assuming you still have a decent job, money in the bank, and no debts, now is a good time to pick up a bargain in a home or vehicle

    Of course, GM will go begging for taxpayer funds

    GM, Chrysler want $10 billion US bailout to help them merge: report

    In the case of fuel becoming cheaper, the "cure" (Severe global recession) is far worse than the original problem. It would be like suggesting that the best way to cure cancer would be to die
     
    #570 jayman, Oct 28, 2008
  11. tripp

    tripp Which it's a 'ybrid, ain't it?

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    Indeed. 'bout the only way to keep oil cheap now. There are simply too many people who want lots of it for it to be had cheaply, assuming any of us can afford it. It's nice having a prius now. Fill-ups for under $30 are a beautiful thing. It's going to be interesting to see just how elastic the price of oil is in the coming months, particularly in wealthier countries.
     
    #571 tripp, Oct 28, 2008
  12. dogfriend

    dogfriend Human - Animal Hybrid

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    PEAK OIL I_ _ERE

    Would you like to solve the puzzle?
     
    #572 dogfriend, Oct 28, 2008
  13. malorn

    malorn Senior Member

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    It all depends how deep and long this recession is, we are entering a period of deflation right now, if that lasts along time there will be plenty of gas to go around @ $2.00/gallon for a long time.
     
    #573 malorn, Oct 29, 2008
  14. john1701a

    john1701a Prius Guru

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    The typical 8-year life of a vehicle is way longer than any temporary low.

    Any purchase & build decision must consider higher prices a reality at some point during ownership. That means consumers & automakers must consider the big picture and not get lured in by what obviously won't last.

    .
     
    #574 john1701a, Oct 29, 2008
  15. blownb310

    blownb310 Junior Member

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    To me, whether gas is cheap or expensive doesn't matter. I will drive fuel efficient cars either way. The lack of unecessary luxury power options and roll up windows are fine by me. :)

    Mike
     
    #575 blownb310, Nov 3, 2008
  16. jayman

    jayman Senior Member

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    I was channel surfing yesterday evening and came across CNBC's The Hunt For Black Gold. This was on a couple of months ago, but I saw it for the first time last night

    http://www.cnbc.com/id/26334704

    Very sobering when you have a powerful figure like ConocoPhillips CEO Jim Mulva state that Peak Oil was reached in 2005, and that they didn't really expect any new significant discoveries.

    On the one hand, this could be a nasty big oil tycoon faning the flames of fear to try to keep the price of oil up, hence profits up. On the other hand, this guy was stating it like it really was, and that the recent downturn in oil price was a reflection of a crushing global recession, not new oil

    Incidently, with oil priced as it is right now, a lot of that pricey oil in the tar sands and the Grand Banks of Canada, is losing enormous amounts of money
     
    #576 jayman, Nov 3, 2008
  17. TJandGENESIS

    TJandGENESIS Are We Having Fun Yet?

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    Look what I paid yesterday!
     

    Attached Files:

    #577 TJandGENESIS, Nov 3, 2008
  18. tripp

    tripp Which it's a 'ybrid, ain't it?

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    Cor luv a dook. That's cheap. We're in the mid $2.20's here. Gotta luv those $15 fill-ups.

    As Jayman points out, the hard to get oil is not going to be produced. Drill Baby Drill is probably DOA.
     
    #578 tripp, Nov 3, 2008
  19. FL_Prius_Driver

    FL_Prius_Driver Senior Member

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    One aspect of peak oil (or any finite resource) is prices undergo oscillations before the steady rise occurs. When the first occurances of over demand occur the price spikes, causing reductions in use and reactionary economic price drops. Then the cycle keeps repeating till overdemand cannot be solved.

    The educated will use these temporary price windows to buy a Prius or (even better) a non-gas vehicle.
     
    #579 FL_Prius_Driver, Nov 3, 2008
  20. darelldd

    darelldd Prius is our Gas Guzzler

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    Naah. The educated bought their EVs a long time ago. ;)

    I just realized that gas was $1.60/gallon when I started driving my first production EV.
     
    #580 darelldd, Nov 3, 2008
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