New Mideast war = $5.00 gas, good deals ahead?

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CalvinHobbes

Diamond Member
Feb 27, 2004
3,524
0
0
Originally posted by: BoomerD
The oil companies could drill every pocket of oil in every nook & cranny in America, and it won't drop the price of gasoline/oil at all. There is no shortage of oil, in fact, we're at an 8 yr hgh in product availablilty. What is driving the price thru the roof, is the speculators, betting that the impending mid-east troubles (continuing?) will create a shortage. Coumpounding the problem, is that the oil companies are in the mix of speculators, even though many of them own their own oil fields, refineries, and distribution systems. So, if the price goes up, they make more for their product, even though it costs them the same to drill, pump, refine, and distribute it...if they have to pay more for the oil they buy, they just pass that added cost on to the consumer, so they STILL make their profit...win-win for them...

Can't wait for our govt, to start holding hearings about the price gouging. Oh wait, they're not interested in hurting the oil companies, what was I thinking.
 

MetalMat

Diamond Member
Jun 14, 2004
9,692
36
91
Originally posted by: CalvinHobbes
Originally posted by: BoomerD
The oil companies could drill every pocket of oil in every nook & cranny in America, and it won't drop the price of gasoline/oil at all. There is no shortage of oil, in fact, we're at an 8 yr hgh in product availablilty. What is driving the price thru the roof, is the speculators, betting that the impending mid-east troubles (continuing?) will create a shortage. Coumpounding the problem, is that the oil companies are in the mix of speculators, even though many of them own their own oil fields, refineries, and distribution systems. So, if the price goes up, they make more for their product, even though it costs them the same to drill, pump, refine, and distribute it...if they have to pay more for the oil they buy, they just pass that added cost on to the consumer, so they STILL make their profit...win-win for them...

Can't wait for our govt, to start holding hearings about the price gouging. Oh wait, they're not interested in hurting the oil companies, what was I thinking.


Lets put it this way, many companies offer huge discounts to oil companies. Halliburton is an oil field service company, and they offer huge discounts to the majors, like 70% and higher off the normal ticket price.

Now to oil companies offer discounts to the consumer in return? I dont think so.
 

MangoTBG

Diamond Member
Apr 28, 2003
3,101
0
71
Originally posted by: CalvinHobbes
Originally posted by: BoomerD
The oil companies could drill every pocket of oil in every nook & cranny in America, and it won't drop the price of gasoline/oil at all. There is no shortage of oil, in fact, we're at an 8 yr hgh in product availablilty. What is driving the price thru the roof, is the speculators, betting that the impending mid-east troubles (continuing?) will create a shortage. Coumpounding the problem, is that the oil companies are in the mix of speculators, even though many of them own their own oil fields, refineries, and distribution systems. So, if the price goes up, they make more for their product, even though it costs them the same to drill, pump, refine, and distribute it...if they have to pay more for the oil they buy, they just pass that added cost on to the consumer, so they STILL make their profit...win-win for them...

Can't wait for our govt, to start holding hearings about the price gouging. Oh wait, they're not interested in hurting the oil companies, what was I thinking.

even if they did do something, just to save face, they'd just allow them to avoid having their testimony sworn in.
 

dxkj

Lifer
Feb 17, 2001
11,772
2
81
My current use:
85 miles to work each way once a week
20 miles to work each way 3 times a week
~30 miles a week extra


320 miles a week or 1300-1400 a month

I get ~ 28 miles a gallon avg.

50 gallons of gas

@ $3 = $150
@ $5 = $250

It sucks, but $100 a month won't change my lifestyle, and I think I drive a fair amount.

 

dxkj

Lifer
Feb 17, 2001
11,772
2
81
Originally posted by: Eeezee
If gas hits $5/gallon, enough people will be removed from the highway that rush hour traffic will disappear. Everyone will carpool, bike, or, horrors of horrors, ride the BUS! But at that point the bus might cost $3 to ride! O_O

Most people will just bite the cost and factor it into their budget. I suspect many people will try to give up their SUVs if they're just doing suburban/urban driving.

Enough people will be removed from the highway? What are you smoking? 90% of people wont change their driving habits.
 

dxkj

Lifer
Feb 17, 2001
11,772
2
81
Originally posted by: Playmaker
I hope you're right. If I could get a deal on a car with poor MPG based on the middle east situation I'd be all over it.

I dont see how people could be dumping $30k SUV's for much lower than blue book value... if they were willing to drop it $2k, thats probably a years worth of fuel
 

EyeMWing

Banned
Jun 13, 2003
15,670
1
0
$5 gas?

I paid $2.60 about 2 hours ago. Prices dropped 10 cents since the start of this little war.

So, what we can garner here is that either the speculators grew the hell up, or York, PA is a bubble outside the normal influence of oil prices, because we're selling between 50 and 70 cents below neighboring Baltimore.
 

Falloutboy

Diamond Member
Jan 2, 2003
5,916
0
71
gas will never get that high in the near future there is such a larger amount of Shale and Sand Oil in the US in canada that is profitable well below that amount (I heard the amount of oil is on par with whats in the middleast)
 

EyeMWing

Banned
Jun 13, 2003
15,670
1
0
Originally posted by: dxkj
Originally posted by: Eeezee
If gas hits $5/gallon, enough people will be removed from the highway that rush hour traffic will disappear. Everyone will carpool, bike, or, horrors of horrors, ride the BUS! But at that point the bus might cost $3 to ride! O_O

Most people will just bite the cost and factor it into their budget. I suspect many people will try to give up their SUVs if they're just doing suburban/urban driving.

Enough people will be removed from the highway? What are you smoking? 90% of people wont change their driving habits.

Actually, around here, there has been a MARKED difference in traffic since the $3/gallon point. Not during the rush hours, but during off-peak times, most definitely. When I drive back to my parent's for whatever reason, I usually have the highway to myself, save the truckers and street racers.
 

Fritzo

Lifer
Jan 3, 2001
41,885
2,125
126
Originally posted by: Random Variable
Originally posted by: Xanis
The day gas hits $5.00 a gallon is the day I take my chances riding my bicycle to work down the interstate.

EDIT: Oh, and I can laugh at everyone while my little four-banger gets 28 MPG city. :D

I can laugh even harder beause my litte four-banger gets 58 MPG (~75% city driving) in the summer.


The only car made with that kind of mileage is an Insight, and they're 60mpg Hwy.
 

EyeMWing

Banned
Jun 13, 2003
15,670
1
0
Originally posted by: Fritzo
Originally posted by: Random Variable
Originally posted by: Xanis
The day gas hits $5.00 a gallon is the day I take my chances riding my bicycle to work down the interstate.

EDIT: Oh, and I can laugh at everyone while my little four-banger gets 28 MPG city. :D

I can laugh even harder beause my litte four-banger gets 58 MPG (~75% city driving) in the summer.


The only car made with that kind of mileage is an Insight, and they're 60mpg Hwy.

That's sold in the United States. All kinds of cars get 60-80mpg in Europe.
 

BadNewsBears

Diamond Member
Dec 14, 2000
3,426
0
0
Meh, my gas allowance will go up at work. Or I will shell out the extra 100 or whatever a month. And I will still be rollin the coals in my diesel.
 

Fenixgoon

Lifer
Jun 30, 2003
31,560
9,929
136
i can't stand how gas prices are motivated by FUD... really annoying. one morning my mom went insane cause gas prices jumped 30 cents. now, i understand that that is a HUGE increase, but at the same time... it wouldn't break the bank.
 

xanis

Lifer
Sep 11, 2005
17,571
8
0
Originally posted by: Fenixgoon
i can't stand how gas prices are motivated by FUD... really annoying. one morning my mom went insane cause gas prices jumped 30 cents. now, i understand that that is a HUGE increase, but at the same time... it wouldn't break the bank.

Most people can deal with the rising gas prices and just factor it in to their budgets, but there are others who can't. Back in 2000 my parents bought a new GMC Jimmy and you could fill the tank up for around $20-$25. Now it takes me at least $35 to fill up my little Cavalier from a quarter tank. Just goes to show you...
 

boredhokie

Senior member
May 7, 2005
625
0
0
Maybe a new take on Desperate Housewives: $10 gas edition. What will 5 ordinary housewives do to pay for their Excursions? I would gladly be an extra.
 

Fritzo

Lifer
Jan 3, 2001
41,885
2,125
126
Originally posted by: EyeMWing
Originally posted by: Fritzo
Originally posted by: Random Variable
Originally posted by: Xanis
The day gas hits $5.00 a gallon is the day I take my chances riding my bicycle to work down the interstate.

EDIT: Oh, and I can laugh at everyone while my little four-banger gets 28 MPG city. :D

I can laugh even harder beause my litte four-banger gets 58 MPG (~75% city driving) in the summer.


The only car made with that kind of mileage is an Insight, and they're 60mpg Hwy.

That's sold in the United States. All kinds of cars get 60-80mpg in Europe.

If he was in Europe, he woud have said KPG instead of MPG.
 

thehstrybean

Diamond Member
Oct 25, 2004
5,729
1
0
All I know is that my 4 banger CRV get's awesome mileage, my Trek is holding out just fine, and I can ride the city bus for free with my college student ID...I'm set...
 

Mean MrMustard

Diamond Member
Jan 5, 2001
3,144
10
81
Originally posted by: CalvinHobbes
Originally posted by: BoomerD
The oil companies could drill every pocket of oil in every nook & cranny in America, and it won't drop the price of gasoline/oil at all. There is no shortage of oil, in fact, we're at an 8 yr hgh in product availablilty. What is driving the price thru the roof, is the speculators, betting that the impending mid-east troubles (continuing?) will create a shortage. Coumpounding the problem, is that the oil companies are in the mix of speculators, even though many of them own their own oil fields, refineries, and distribution systems. So, if the price goes up, they make more for their product, even though it costs them the same to drill, pump, refine, and distribute it...if they have to pay more for the oil they buy, they just pass that added cost on to the consumer, so they STILL make their profit...win-win for them...

Can't wait for our govt, to start holding hearings about the price gouging. Oh wait, they're not interested in hurting the oil companies, what was I thinking.

I'd be fascinated to hear your definition of 'price gouging'.
 

CFster

Golden Member
Oct 16, 1999
1,903
0
76
Originally posted by: SampSon
As for gas that expensive, many other nations get by just fine with thoes prices.

Many of those other nations that have $5 gas have very high gas taxes. The reason they can afford state healthcare is because people pay $2/gal taxes at the pump.

We pay just as much as they do for gas.