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Lets talk about oil and gasoline(and a poll too)

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View Poll Results: Price of Gasoline by Holiday Season 2006
$1 to $2
1.82%
$2 to $3
29.09%
$3 to $4
51.82%
$4 to $5
17.27%
Voters: 110. You may not vote on this poll

Lets talk about oil and gasoline(and a poll too)

Old 04-17-06, 02:50 PM
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Lets talk about oil and gasoline(and a poll too)

Ok, everyone here who drives is affected by the current cost of oil.

Iran, Chad and Nigeria are all sources of "anxiety" for the global market, so therefore the traders buy/sell crude oil/gas at much higher prices.

So what I'm asking you, is where do you think the oil markets is going to go for the rest of the year.

My personal opinion is we're going to go mid 3s, just because everyone on Wall Street i pushing panic buttons over everything that happens with us and Iran(even after they said they werent going to use oil as a weapon, and I really dont' see us going to war with them after what just happened in Iraq), and then slowly back down to the mids 2s. Ending around $2.50 come the holiday season. That'll be our new "norm" until new gasahol type things occur bringing overall prices down.

THE POLL IS FOR WHERE YOU THINK OIL WILL BE COME CHRISTMAS TIME AS A NATIONAL AVERAGE You are free to put anything else into your post of course.
Old 04-17-06, 03:07 PM
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I thought 2.50 has been the norm for the past 6 months. Its now sitting at 3.00 and I expect to see 3.50 by mid summer. Maybe even topping 4.00. Then at Christmas it will come back down to 2.90
Old 04-17-06, 03:10 PM
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Hopefully above $5 so people get the shock they need. Then when they consume less the price will go down.
Old 04-17-06, 03:14 PM
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Thats true X, but think of what it may do to the economy if the wages(and they aren't) dont' rise to meet the costs. Credit card debt skyrockets, etc.

My main worry is, right now I work 5 minutes from where I live(I work for a big retail company though, I could get moved at any moment to a further point) but my girlfriend lives an hour away, and asking her to spend $25 a week to come spend the weekend with me doesnt' seem fair(we'd alternate, but she's living at home right now since she went back to school again). I hope it shakes people up, gets them to dump SUVs and the like (o0nly people hwo need them should have them if oil is like this) and use more fuel efficient cars.

I don't see THAT happening though, as I still see people in SUVS driving like maniacs up and down my street, despite close to $3 per gallon.
Old 04-17-06, 03:20 PM
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Originally Posted by Thunderball
I don't see THAT happening though, as I still see people in SUVS driving like maniacs up and down my street, despite close to $3 per gallon.
Gas just doesn't cost enough yet.

Obviously wages can't (and shouldn't) meet the costs. If they did people wouldn't use less oil.

The idea is to get people to use less oil and then it won't affect them as much. The prices of all goods will rise and that will hurt but I don't know of any other method to get people to stop burning all that oil without getting the government heavily involved and that would probably have even worse consequences.
Old 04-17-06, 03:24 PM
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I agree that people need to use less oil, but how is that really possible, without a massive reconstruction of our public transit system, and our suburbs.

A 40 minute drive is the "norm" for some people, and thats where this problem has started from I think. Living "away" from the big city and in a suburb and using the "cheap gas" to get there.

This problem isn't going away.

What pisses me off, is a country like Brazil , can become energy independent, yet the United States is unable to make any progress.
Old 04-17-06, 03:33 PM
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The other thing I don't understand, that maybe someone can help me out with, is that gasoline price isn't set by the oil companies, it set by people buying/selling futures on the stock market. Now granted, the oil companies could have someone buying/selling on the market, but I dont' see how that would be legal/unnoticed.

Why would they purposefully keep trading up and up on it...
Old 04-17-06, 03:35 PM
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If an oil company which drills the oil, decides to stop making it. What happens.

You think stock traders are the ones responsible for the oil prices? They are coming in like vultures only after the oil companies announce (or if you have some insider trading info...before) how much production they will be producing.
Old 04-17-06, 03:52 PM
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Ok, everyone here who drives is affected by the current cost of oil.
You are right! My weekly gas fillup has gone up by almost 5 whole dollars!

Shocking!
Old 04-17-06, 03:58 PM
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ah, yes Brian...

You're right, it has gone up $5 since what, February or January?
What about since last XMAS? I bet its gone up a lot more then that.

$5 a week x52 weeks = 260 dollars more a year you spend on gas.

If it goes up another $5 per week by next month, it'll really be $10 more then what you used to pay and = 520 more per year you spend on gas.

Lets say , it costs me $45 every 10 days to fill up.It used to cost me $33 or so. Thats a $12 difference right?
Each year on average, I'd have to fill up about 36.5 times, sometimes moret hough, so lets just go with 40 times a year. $1800 a year on gas. Now granted, it only went up $12 dollars per fill up, so really its only $480 more dollars then last year, but while my pay went up ($27 pretax dollars a week), it barely covers the gas difference this year.

It DOES affect everyone. SOme people can just afford it more then others however.
Old 04-17-06, 04:06 PM
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Originally Posted by Thunderball
ah, yes Brian...

You're right, it has gone up $5 since what, February or January?
What about since last XMAS? I bet its gone up a lot more then that.

$5 a week x52 weeks = 260 dollars more a year you spend on gas.

If it goes up another $5 per week by next month, it'll really be $10 more then what you used to pay and = 520 more per year you spend on gas.

Lets say , it costs me $45 every 10 days to fill up.It used to cost me $33 or so. Thats a $12 difference right?
Each year on average, I'd have to fill up about 36.5 times, sometimes moret hough, so lets just go with 40 times a year. $1800 a year on gas. Now granted, it only went up $12 dollars per fill up, so really its only $480 more dollars then last year, but while my pay went up ($27 pretax dollars a week), it barely covers the gas difference this year.

It DOES affect everyone. SOme people can just afford it more then others however.
$480 increase in a year is about $9.25 a week. I'm sure it wouldn't be hard at all to see where you can get that $9.25 back by sacrificing one of your leisures (such as eating out 4x a week instead of 5, not going to Starbucks, or whatever frivolous things we all spend our money on).
Old 04-17-06, 04:09 PM
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Oh I agree ES.

I've already cut back $40 a week (eating lunch at work, I just eat fruit now instead a savings of $3 per day, equals $15 per week, then I told my girl we're eating out once instead of two times(2nd day was always a little dner though, so thats like $24). Its working thus far.
Old 04-17-06, 04:09 PM
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Originally Posted by X
Gas just doesn't cost enough yet.

Obviously wages can't (and shouldn't) meet the costs. If they did people wouldn't use less oil.

The idea is to get people to use less oil and then it won't affect them as much. The prices of all goods will rise and that will hurt but I don't know of any other method to get people to stop burning all that oil without getting the government heavily involved and that would probably have even worse consequences.
There already seems to be heavy involvement from the government if you consider that there's already about a forty percent total average tax rate on gas sales. I have read that the total gas tax in the UK is at 75% so that may be the heavy involvement you don't want.

So do you think that the government should not reduce the gas tax rates and have a "leave as is" stand?

I agree with Thunderball that the U.S. needs to establish stable sources for oil supply and move away from the primitive countries.
Old 04-17-06, 04:11 PM
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So does anyone actually have a statistic of how much gas and oil is used by end consumers? I don't have the numbers handy, but I believe that power generation may consume the most and industry may be the largest customer of power generation.
Old 04-17-06, 04:17 PM
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You say your only spending 10 more a week in gas, but don't forget goods and services will start to rise because of the increae in gas prices. That makes it alot more then just 10.00 a week.

And you see people are cutting back, buying less, going out less. Which in turn is causing prices to go up further because stores don't have the volume they once did to keep prices low.
Old 04-17-06, 04:18 PM
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Originally Posted by El Scorcho
$480 increase in a year is about $9.25 a week. I'm sure it wouldn't be hard at all to see where you can get that $9.25 back by sacrificing one of your leisures (such as eating out 4x a week instead of 5, not going to Starbucks, or whatever frivolous things we all spend our money on).
Exactly!

With the number of cars I see idiling in front of Starbucks each morning, I can only conclude that gas is no where nearly expensive enough!
Old 04-17-06, 04:23 PM
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I wonder if this will affect travel this summer.
Old 04-17-06, 04:37 PM
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In the UK, petrol is costing about $8 American dollars per gallon. I don't think we have much to bitch about yet.
Old 04-17-06, 04:42 PM
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Originally Posted by Vibiana
In the UK, petrol is costing about $8 American dollars per gallon. I don't think we have much to bitch about yet.
So? What does what the UK pays for gas have any bearing on how much we're paying? Sure they pay more, but I don't feel better because we're only paying $3.
Old 04-17-06, 05:07 PM
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Originally Posted by Nazgul
So? What does what the UK pays for gas have any bearing on how much we're paying? Sure they pay more, but I don't feel better because we're only paying $3.
You should!

Gas will only keep going higher. If you don't have a plan to deal with this, you should get one.
Old 04-17-06, 05:12 PM
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$3.56 by Christmas easy, as a matter of fact $3.50 by summer. Then it will dip around September and climb back up again when the first cold wave hits.

I have started taking a different way to work and it is adding two more days commute to one full tank, I'm also cutting back on eating out. The real solution to my problem is moving South so I don't have to spend as much heating my home and getting a house close to my employer so I won't have to fill my 18 gallon gas tank once a week.
Old 04-17-06, 05:39 PM
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Wow, Lateralus, thanks for the uplifting thouths.

It does suck this new price for gas, but I'm guessing its just going to take time getting used to I guess.
Old 04-17-06, 05:40 PM
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Brian Shannon : You think gasoline is going to continually go up and up until we reach the heights of Europe and other nations?
I, for one, disagree with you. There is no way that can happen and this country is able to function.
Old 04-17-06, 05:42 PM
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Another thing to think about, during the 80s , there was a time when everyone was complaining about gas( I think during the Iran situation back then as well) also during the 70s oil crisis.
The market does usually stabilize.
Old 04-17-06, 05:54 PM
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Originally Posted by Lateralus
as a matter of fact $3.50 by summer.
I believe that >$4 is likely if any hurricanes hit the Gulf again and tear up additional infrastructure

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