http://www.suntimes.com/output/news/cst-nws-gas17.html

 

If this happens, call it the Great Depression II, because we will have triple the unemployment rate currently, and about 15% inflation on top of it.

I heard about the $5 a gallon this morning. If that is true, Brian and I are screwed - I am 40 miles away from work and he is 32 miles away.

Edited August 17, 200520 yr by Queen Prawn

Remember you are talking to the guy who predicted $3 gas earlier this spring...

 

$5 gas isn't that far out of the question. If we get one terror attack in the United States on the energy sector (a refinary would be the worst) Crude Oil at $100 a barrel would not shock me at all.

 

Most likely without an extraordinary happening, we won't see anything more than where we are now. Really these prices are going to start to cripple sectors of the economy and reduce demand that way. These price levels are pretty unsustainable long term, and if they do stay here long term, we are going to have an ugly recession. And a recession wouldn't be a pretty thing now because so many people are so far in debt, that bankruptcies and foreclosures would go nuts.

 

Like I said, personally I think we are at, or near, the highs unless we get attacked. If that happens all bets are off.

That changes the hybrid perspective now doesn't it?

 

Unless there are some new reactors coming on line in America I don't see how we can shield ourselves from a major increase in CPI if this happens & is sustainable.

 

Either we curb our appetite for energy or we find new ways to produce it that weaken our dependancy on fossil fuels. There's no other way.

http://www.suntimes.com/output/news/cst-nws-gas17.html

 

If this happens, call it the Great Depression II, because we will have triple the unemployment rate currently, and about 15% inflation on top of it.

 

That's about what the rest of the world pays, outside of some OPEC countries. Guess we'll see less Hummers on the freeways in LA. Gee, I'll be so disappointed.

How many people are considering riding bicycles more now? I live 10 miles from the office. Once it hits $3 here I will be biking it.

 

SFF

Remember you are talking to the guy who predicted $3 gas earlier this spring...

 

$5 gas isn't that far out of the question.  If we get one terror attack in the United States on the energy sector (a refinary would be the worst) Crude Oil at $100 a barrel would not shock me at all.

 

Most likely without an extraordinary happening, we won't see anything more than where we are now.  Really these prices are going to start to cripple sectors of the economy and reduce demand that way.  These price levels are pretty unsustainable long term, and if they do stay here long term, we are going to have an ugly recession.  And a recession wouldn't be a pretty thing now because so many people are so far in debt, that bankruptcies and foreclosures would go nuts. 

 

Like I said, personally I think we are at, or near, the highs unless we get attacked.  If that happens all bets are off.

Oh really? No one will be able to declare bankruptcy because of the new laws. Funny how THAT works.

How many people are considering riding bicycles more now?  I live 10 miles from the office.  Once it hits $3 here I will be biking it.

 

SFF

 

I've looked into combining the train and a bike (or scooter of some sort), but it would only save me some change. That is with prices as they are now. But if it hits $5.00 a gallon, I will be catching that train every friggin' morning.

Train is my backup as well.

 

Though I will probably switch to it anyways because driving in the winter is going to suuuuuuuuuuuck

http://www.suntimes.com/output/news/cst-nws-gas17.html

 

If this happens, call it the Great Depression II, because we will have triple the unemployment rate currently, and about 15% inflation on top of it.

This economic "recovery" will be over so fast it will make your head spin. I hope SS2K5 is right. This is the best case scenario at this point.

Well, if I need anything at college I have bus fees paid for. I sincerely doubt I'll be using my car much at all. I'll probably just leave it at home come Thanksgiving.

This economic "recovery" will be over so fast it will make your head spin. I hope SS2K5 is right. This is the best case scenario at this point.

Unfortunately, I don't think SS2k5 is right. I think the price of oil is going to keep going up and up and up.

 

The problem is that it's not just the U.S. economy that has a growing desire for oil...China and India both have dramatically increased their oil consumption in the last few years, and because they have such low labor costs, even if oil prices keep going up, it still remains far more cost-effective for most factories to open there. In other words, increasing oil prices may very well hurt us a lot more than it'll hurt either of them.

 

Right now, oil supply is bumping right up against demand for oil in this world, and there's really nothing that can be done about it. Even with prices this high, the demand for oil in this country is still growing. It seems almost impossible for demand for oil to drop here without prices literally doing real damage to people...$100 a barrel or more...and even if it gets that high, it may not be enough to keep up with growth in oil demand from Asia.

 

There just isn't enough oil left in the ground for it to be cheap.

Why do i have to start driving next year when it will probaly be at 5 dollars a gallon.

whats a company that makes hybrids? Not that I would plan on buying any stock or anything <_>

Most companies have at leat one hybrid model nowadays.

s*** dude...my dad owns a trucking company...I'm not even sure what this means.

That's about what the rest of the world pays, outside of some OPEC countries. Guess we'll see less Hummers on the freeways in LA. Gee, I'll be so disappointed.

Yep it's $1.25 a litre down here at the moment (3.7 gallons = 1 litre approx), so you can imagine how much it's gonna cost down here if it keeps going up, up and up.

I take the CTA every day, and I predict that it is going to get more crowded as a result.

 

The bottom line is that we, as a nation, need to focus a hell of a lot more on energy conservation. The latest energy bill focuses on expansion and extraction of new oil, while does nothing to encourage conservation. Which, of course, is what you get when you get a Texas oilman in the White House.

Most companies have at leat one hybrid model nowadays.

Yeah, but very few of them actually use the technology to increase fuel efficiency...a lot of them are using the hybrid engine setup simply to get more power out of an engine without worrying about fuel consumption. Ford and GM are good examples of this sort of behavior. Honda and Toyota have the best hybrids around for fuel consumption (the prius and the insight)

its already 3.20

This whole thing is 30 years too late.

I remember the gas lines in the 70s and IMO THAT was the time to start developing alternative-fuel vehicles.

I'll be looking at the Prius and the Insight when it comes time for me to get a new car, but I'm not sure what the availability is for those cars now and in the near future.

But I'm not worried, because a stable, democratic Middle East is SURE to bring back $1.50-per-gallon gasoline.....

This whole thing is 30 years too late.

I remember the gas lines in the 70s and IMO THAT was the time to start developing alternative-fuel vehicles.

I'll be looking at the Prius and the Insight when it comes time for me to get a new car, but I'm not sure what the availability is for those cars now and in the near future.

But I'm not worried, because a stable, democratic Middle East is SURE to bring back $1.50-per-gallon gasoline.....

The Prius is generally widely available...Toyota had a lot of problems with the new 04 model when it first came out because they were in such high demand...waiting lists up to 6 months.

 

They have since ratcheted up production on that model quite a bit, and I believe in almost every case they're either in lots or can be delivered quite rapidly.

The Prius is generally widely available...Toyota had a lot of problems with the new 04 model when it first came out because they were in such high demand...waiting lists up to 6 months.

 

They have since ratcheted up production on that model quite a bit, and I believe in almost every case they're either in lots or can be delivered quite rapidly.

Sounds good - it's almost time for me to car-shop, and when I do that's where I'm starting.

Yep it's $1.25 a litre down here at the moment (3.7 gallons = 1 litre approx), so you can imagine how much it's gonna cost down here if it keeps going up, up and up.

I've got some friends with me from France and she said what we're paying now per gallon is equivilant (in euros) to what the price is per litre over there.

s*** dude...my dad owns a trucking company...I'm not even sure what this means.

 

 

It means that unless he can find a way to convince the customers to eat a larger % of the surcharge... or has a hefty reserve for such costs... things are gonna be tight for a while.