Gas Prices...WTF?
gloom
2,765 Posts
on my way home from work yesterday i noticed the shit jumped up a good 30 more cents...fucking 2.70 here...definately 
gloom
2,765 Posts
Comments
oh shit, wait.
I am going on vacation this Friday, and will be DRIVING from Chicago to Minneapolis and the Dells,etc. This shit will most def cut into my record shopping budget!
Yuck, sorry man. I'm lucky I don't need to drive too far at the moment (though the occasional trip to B-more will be rougher than usual.) At least you won't be driving an SUV
That's why they're high right now, bacause people are on vacation. They'll probably go down a little bit after labor day.
Currently at ??1.02 a litre, and there's 3.78 litres to the gallon. So that's ??3.86 per gallon, which converts to $6.83 per gallon.
To fill up my little 1.4 VW Polo it costs just short of ??35 or $63, which lasts me one week.
Oh yeah - we're loving the going rate for gas.
i hope so,
2 trips to VT next month
(sister nancy & maddoo big up montpelier 9/24),
austin come october
& NYC & lancaster monthly
i need to refine some mantovani's back to petro
Driving a Mercedes SLR at full speed for an hour (if the tank would have been big enough) would've cost you almost $400.
wishful thinking but no...
its a few things...
1. Supply is tight
2. There is crisis in all oil producing countries
3. Smallest growth rate in oil reserves in a while
4. Difficulty in finding "new oil", all easily accessed oil has already been tapped
Actually the price of crude just went down. All the points you listed are the long term problems (which will occur). The economy has short and long term pricing curves. Right now nobody's giving up their vacation because of a $.25 raise in gas prices. There's less available supply right here, right now. What's going on elsewhere has nothing to do w/ our vacation habits. After labor day when US leisure travel is low they'll probably go down 10-15 cents (but not overnight like the increase).
Veg oil site from UK
Bouganville rebels used to run their 4WD's on coconut oil and most diesel can be modified easily enough to run on any oil(hemp oil).
As i am from the home of Mad Max I hope it isn't too prophetic
The future of OIl
So what about records? Will dynaflex be re-introduced? Can dynaflex records sound decent?
If M. King Hubbert is to be believed (and he did correctly predict the reduction in domestic US output by the mid-'70s, then the overall production of oil worldwide will begin to subside by the end of 2006 or so...
There haven't been new refineries built in quite some time, especially given that oil hovered around $ 10 a barrel some 4 to 5 years ago...
Given these prices, there's a fair amount of speculation, but oil itself is not an inexhaustible commodity; this also makes the costly and previously prohibitive extraction from Canada's oil sands in Alberta profitable (if you were to include this stock in Canada's oil reserves, then it would rank 2nd only to Saudi Arabia - reminds me of the old Jon Stewart standup anecdote about how Americans will start carin' about their nothern neighbor only when natural resources are @ stake)...
There may be a short spike come the fall b/c of heatin' oil, but that form doesn't require the heavy processin' into light sweet that automobiles use...
I'll take that wager. I bet you it wont.
Gas goes down every year after labor day. The amount is my speculation.
i just heard that there were 'terrorist' attacks on some refineries last week, and one or more were shut down because of it...also i guess 2-3 new refineries are opening up in the next few weeks, bringing down the price after labor day...
coincidence?
It's the same in Holland.
true. filling up 50 million SUV's for road trips to grandma's house is no joke...
and it is funny to hear people in the US complain about gas prices when we have the cheapest gas prices in the world, outside of oil producing countries...
I will holler at you for some of this next time I'm there.....
Toyko= the only place I know of where bicycle doesn't equal tweaker (It's an East Bay Concord thing).
1. Whoever said the price of crude just went down, you're referring to a one-day decline in price after 5 straight days of new highs. If I'm not mistaken it's back up today (edit: it's down 0.19 at 3:50est, it was up earlier though). And if you're up on your crude price knowledge, you should know that the price of crude takes sometimes three weeks to correlate to the price of gas at the pump.
2. Prices drove higher over the past couple weeks also because of a fire at a Valero refinery in Texas and weather concerns with the approaching hurricane season. Remember last year when massive oil platforms were sent drifting in the Gulf Of Mexico? That affected short-term supply, and prices ran up fast, I think that was the first time it cracked 50 a barrel. Hurricane season is here again, speculators are driving up the contracts in advance of the damage.
Fuck all this. Do yourselves a favor and buy long-dated call options on Valero Energy (VLO) since they're the top refiner of heavy sour crude, which is more available these days than light sweet. Not only that, but they have pricing power and get the heavy sour at a deep discount since no one else will buy it. Might as well make money on the shit, this way you can sit back and listen to people complain about the prices of things and chuckle softly to yourself.
Keep in mind too, Wal-Mart came out today and lowered profit forecasts putting the blame squarely on the price of gas. That's big. Pundits have been wondering when energy prices are going to slow down the economy, the first big indicator came today.