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How High Will Gas Go?

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How High Will Gas Go?

Postby toolverine » Tue Jun 17, 2008 11:33 am

I just paid $47.44 to fill a ten gallon tank. I know that gas will always always always be more expensive here, but I can't keep up with the skyrocketing cost of fuel and sack away more money for a hybrid easily.

Obviously, California has some real transportation issues and covers a lot more terrain than many other smaller states, but this has got to be affecting everyone to some degree.

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Postby L Independant » Tue Jun 17, 2008 11:37 am

Most places here are hovering at $3.98/$3.99/gallon, afraid to cross the $4 mark.

I was thinking about it this morning - it's risen $40+/barrel this year, and too many people are saying it's because of increased demand, but at the same time saying drivers are driving less because of higher prices. Are the Chinese really buying that much oil and buying/making that many automobiles?

I call bullshit. This is not merely a demand issue. I don't see demand increase 40% over 6 months after YEARS of steadily increasing demand (prior to Katrina). Other factors are at work...on Wall Street.

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Postby MoneyMelon » Tue Jun 17, 2008 11:37 am

It means higher prices for everything in NYC and Long Island since everything needs to be trucked in due to having no freight lines here.

I'm guessing it hits around $5.00 a gallon by the end of the summer before it levels off.
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Postby MoneyMelon » Tue Jun 17, 2008 11:39 am

L'Indépendant wrote:Are the Chinese really buying that much oil and buying/making that many automobiles?

It's not just fuel for cars in China and India that's increasing demand. It's also the rapid expansion of industry as well.
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Postby L Independant » Tue Jun 17, 2008 11:41 am

MoneyMelon wrote:It's not just fuel for cars in China and India that's increasing demand. It's also the rapid expansion of industry as well.
So they kicked it into gear Jan. 1?

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Postby BubbaKanoosh » Tue Jun 17, 2008 11:42 am

someone needs to invent a transporter.

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Postby toolverine » Tue Jun 17, 2008 11:43 am

L'Indépendant wrote:Most places here are hovering at $3.98/$3.99/gallon, afraid to cross the $4 mark.

I was thinking about it this morning - it's risen $40+/barrel this year, and too many people are saying it's because of increased demand, but at the same time saying drivers are driving less because of higher prices. Are the Chinese really buying that much oil and buying/making that many automobiles?

I call bullshit. This is not merely a demand issue. I don't see demand increase 40% over 6 months after YEARS of steadily increasing demand (prior to Katrina). Other factors are at work...on Wall Street.


According to Marketplace on NPR, the futures trading of oil is out of whack. I don't know what the fuck that means, so maybe Milton can explain it to us laymen. :P

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Postby daitong » Tue Jun 17, 2008 11:51 am

Hopefully this will kick start American ingenuity to find a viable solution. Something's got to give.

Might have to change our lifestyles as well :gasp:
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Postby L Independant » Tue Jun 17, 2008 11:52 am

toolverine wrote:According to Marketplace on NPR, the futures trading of oil is out of whack. I don't know what the fuck that means, so maybe Milton can explain it to us laymen. :P
Did they specify what they meant?

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Postby L Independant » Tue Jun 17, 2008 11:53 am

daitong wrote:Hopefully this will kick start American ingenuity to find a viable solution. Something's got to give.

Might have to change our lifestyles as well :gasp:
Naw, let's just drill for more oil. That'll solve everything.

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Postby MoneyMelon » Tue Jun 17, 2008 11:54 am

L'Indépendant wrote:So they kicked it into gear Jan. 1?

A huge part of it is speculation right now.

But overall, the demand isn't just because of gasoline.
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Postby diana_fan » Tue Jun 17, 2008 11:59 am

It's been over $4 here (Michigan) for a while now.

I read somewhere that various analysts were predicting $6 in a matter of months, as the oil at record prices works its way through the supply chain. I don't remember where I read that, though.

We've got some serious problems, and they're only going to get worse.

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Postby L Independant » Tue Jun 17, 2008 12:00 pm

MoneyMelon wrote:A huge part of it is speculation right now.

But overall, the demand isn't just because of gasoline.
Raise the prices until there's a decrease in demand.

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Postby outsider » Tue Jun 17, 2008 12:06 pm

People are bitching about the cost, but the vast majority are still buying gas. Until there's a sharp drop in demand, I don't see why prices will drop in the foreseeable future.
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Postby Starlord » Tue Jun 17, 2008 12:08 pm

daitong wrote:
Might have to change our lifestyles as well :gasp:



:shock:

I'm not marrying a woman! :evil:
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