Oil reaches $ 100 dollar a barrel

[GrGr]

HuffPo

Since it normally takes a year or two for energy inflation to hit the US economy for real late 2008 and 2009 should be a whole lot of 'fun'.

 

[brxndxn]

Hopefully, I'll have my company talked in to allowing me to work from home by then..

 

[LegendKiller]

Well, actually, 100.01 is the next mark.,

 

[nageov3t]

makes me glad I made the move from commuting 70 miles/day to 2 miles.

think I'm going to invest in a bike when it gets warmer out.

 

[GrGr]

Originally posted by: LegendKiller
Well, actually, 100.01 is the next mark.,

Well I was thinking in terms of 'spectacular impact' numbers but I guess 100.1 works too

 

[glenn1]

Originally posted by: GrGr
HuffPo

Since it normally takes a year or two for energy inflation to hit the US economy for real late 2008 and 2009 should be a whole lot of 'fun'.

It very well could, or it could crater to $20/bbl - boilerplate disclaimer; past performance is no guarantee of future results.

That being disposed of, is it safe to presume you're an oil bull and predicting a further continuation of the upward trend? If so, is $200/bbl your upward target, or simply another marker on the way higher?

 

[Capitalizt]

Gold also blew through it's all time high today. The dollar is toast.

 

[maddogchen]

Originally posted by: Capitalizt
Gold also blew through it's all time high today. The dollar is toast.

sell gold! sell sell sell!!

 

[BoomerD]

Where's Dave when we need him?

 

[Firebot]

Originally posted by: BoomerD
Where's Dave when we need him?

He's in his bunker.

 

[bamacre]

I am WAY too young to remember buying gasoline at less than a $1 a gallon.

This is insane. The price has tripled in less than 8 years.

 

[Engineer]

Originally posted by: bamacre
I am WAY too young to remember buying gasoline at less than a $1 a gallon.

This is insane. The price has tripled in less than 8 years.

How old are you? Gas in 1998 was $0.499 in Corbin Kentucky. Oil was $10.xx per barrel. It's now around 10 times what it was in 1998.


Oil is also up 67 percent since the start of 2007. Average gas price this time last year was $2.32 per gallon. Right now it's $3.05 and rising. Some analysts expect $4.00 by Feb.

I wonder if Cad built Dave's bunker? Something about bunkers going around today...lol!

 

[bamacre]

Originally posted by: Engineer

Originally posted by: bamacre
I am WAY too young to remember buying gasoline at less than a $1 a gallon.

This is insane. The price has tripled in less than 8 years.

How old are you? Gas in 1998 was $0.499 in Corbin Kentucky. Oil was $10.xx per barrel. It's now around 10 times what it was in 1998.

31. Was it really that cheap in '98?

 

[2Xtreme21]

Didn't Dave say it was going to hit $100 and all you people berated him as always? I'd say instead of telling him to get out of his bunker, you should get out from under your rocks.

 

[Engineer]

Originally posted by: bamacre

Originally posted by: Engineer

Originally posted by: bamacre
I am WAY too young to remember buying gasoline at less than a $1 a gallon.

This is insane. The price has tripled in less than 8 years.

How old are you? Gas in 1998 was $0.499 in Corbin Kentucky. Oil was $10.xx per barrel. It's now around 10 times what it was in 1998.

31. Was it really that cheap in '98?

Yes. I filled my 96 Dodge Intrepid up with just over 14 gallons at a cost of $7.00. Gas in Lexington, KY went to $0.59 that year. It soon went from $0.59 to over $1.00 and I remember thinking that it would crash the economy. LOL, little did I know.

Edit: Well, I guess we did have a recession the late 90's or early 2000's but I don't think it was energy at that time that killed the economy.

 

[JD50]

Originally posted by: 2Xtreme21
Didn't Dave say it was going to hit $100 and all you people berated him as always? I'd say instead of telling him to get out of his bunker, you should get out from under your rocks.

No one said that crude oil would not eventually reach $100 a barrel. We said that it would not reach $5 a gallon last Christmas, or by last summer, or by this past Christmas. Looks like we were right.

 

[FoBoT]

Dave is busy moving to New Jersey

 

[charrison]

Originally posted by: FoBoT
Dave is busy moving to New Jersey

I am surprised he is not commuting from OK, just so he can bitch about the price of gas for commuters.

 

[Jaskalas]

I would like to mention that actually sustaining the price of oil above $100 is the ?next?, if not soon to be reached benchmark.

 

[GML3G0]

(slightly off topic) >> And gold is over $855/oz, breaking the record of $850.

 

[HombrePequeno]

Originally posted by: Engineer

Originally posted by: bamacre

Originally posted by: Engineer

Originally posted by: bamacre
I am WAY too young to remember buying gasoline at less than a $1 a gallon.

This is insane. The price has tripled in less than 8 years.

How old are you? Gas in 1998 was $0.499 in Corbin Kentucky. Oil was $10.xx per barrel. It's now around 10 times what it was in 1998.

31. Was it really that cheap in '98?

Yes. I filled my 96 Dodge Intrepid up with just over 14 gallons at a cost of $7.00. Gas in Lexington, KY went to $0.59 that year. It soon went from $0.59 to over $1.00 and I remember thinking that it would crash the economy. LOL, little did I know.

Edit: Well, I guess we did have a recession the late 90's or early 2000's but I don't think it was energy at that time that killed the economy.

Jesus, that's cheap. It only got a few cents below a dollar here. Does Kentucky not have a gas tax?

 

[palehorse]

I need to find a damn telecommuting job.. uhg...

 

[BoomerD]

I'm old enough to remember the gas wars, when stations actually wanted your business...prices would drop and drop...often to below 20 cents/gallon in the mid-60's Just before the Arab oil embargo of 1973, regular leaded gas sold for about 34 cents/gallon...then, OMG! gas went up to 50 cents or more...almost overnight! There was gas rationing, (based on the last digit of your license plate-odd/even) huge lines at stations, many stations went for days with NO gasoline available...Last week in Maui, I paid $3.85 for regular unleaded. I searched gas buddy and that was the cheapest on the entire island...

In 1998, you could get regular unleaded here in NorCal for under 90 cents/gallon...till 2 of the bay area refineries went down at the same time...Prices doubled within 2 weeks, (and went over $2.00/gallon for the first time) They finally came down slightly, but IIRC, they never dipped below $1.00 agaain.

 

[Confusednewbie1552]

We all saw this coming, it shouldn't really be a surprise...

On another note, who is this Dave you all are speaking of?

 

[Engineer]

Originally posted by: HombrePequeno

Originally posted by: Engineer

Originally posted by: bamacre

Originally posted by: Engineer

Originally posted by: bamacre
I am WAY too young to remember buying gasoline at less than a $1 a gallon.

This is insane. The price has tripled in less than 8 years.

How old are you? Gas in 1998 was $0.499 in Corbin Kentucky. Oil was $10.xx per barrel. It's now around 10 times what it was in 1998.

31. Was it really that cheap in '98?

Yes. I filled my 96 Dodge Intrepid up with just over 14 gallons at a cost of $7.00. Gas in Lexington, KY went to $0.59 that year. It soon went from $0.59 to over $1.00 and I remember thinking that it would crash the economy. LOL, little did I know.

Edit: Well, I guess we did have a recession the late 90's or early 2000's but I don't think it was energy at that time that killed the economy.

Jesus, that's cheap. It only got a few cents below a dollar here. Does Kentucky not have a gas tax?

Yes. Don't know what it is, but we have on. There is a sticker on the pumps that tell how much it is. I also don't know if it changed since 1998.