Don't look now...

[dave lackey]

Oil prices are pushing $74/barrel and anticipated to rise to $90 by the end of the year by some experts.

Yet, gas prices are down. Go figure. Better yet, what do you think the price of gasoline will be when the economy finally does recover....in a year or two.😉

Yikes. Time to plan for a very economical car, me thinks.

 

[majid]

Exxon's CEO claims gasoline demand has peaked in the US: http://www.businessinsider.com/2007-was-the-ultimate-peak-for-us-gas-consumption-2009-10

If so, prices should stay put. The fact no new refineries will be built in the US makes for a cozy cartel, though. Crude prices are a factor in gas prices in the pump, but not the only one. Refinery capacity is another, as is the number of special formulations like the low-sulphur ones for California (the reason why gas is so expensive in CA).

 

[ebolton]

I don't think demand has peaked. Since the technologies to conserve/replace oil fuels are not much further along than they were 18 months ago, I think demand will go up along with the worldwide economy. That may be very slow, but eventually I think we will get to and exceed the level of demand we had when gas was $4.00/gal in the US.

 

[dave lackey]

Demand has PEAKED? Ummmm...it is the reverse, actually. Production is close to peaking. If you don't believe or understand that, see the following link:

http://video.google.com/videoplay?docid=-665674869982904386#

After watching that, one can only conclude that it is no wonder we are all so confused!

But one thing I am convinced about is that we are in for a painful future where energy is concerned. I hope I am wrong.😱

 

[dmr]

Let's see ... Back in the summer of 2008 these self-appointed so-called "experts" said we would have $7.00 gasoline. Then earlier this summer, these same idi^H^H^Hexperts predicted under $1 gasoline.

Enough said!

 

[dave lackey]

Agreed...

A picture is worth a thousand words.

 

[varjag]

The earliest prediction about oil running out and civilization collapsing I think was specifying late 1990s.

The sky is falling, all the time.

 

[dave lackey]

Ooops...oil is now $74.74/barrel.

That didn't take long.

Any bets on whether we see $80/barrel before Thanksgiving?

 

[varjag]

Look at it other way, rising oil prices give a hint of recovery.

Oil production figures tell nothing unless you factor in known but untapped oil fields. Of which there are plenty in a few countries and the surveying continues.

And no, you can't extrapolate from one country to the world. Dubai will run out of oil next year or two, but it's not a worldwide trend.

 

[bmattock]

I am no expert on crude oil and retail gasoline prices. But I bought a $500 eBay economy car that gets 30+ mpg, and it has saved me some money. If the price of gasoline goes up, it will save me more. I'd ride a motorcycle again if I could do so on Detroit's crumbling infrastructure streets, but at the moment, riding a motorcycle here is like asking to have your face continuously pelted with rocks and gravel, not to mention potholes that hurt cars, but destroy bikes.

 

[Roger Hicks]

Dear Bill,

Consider a full-face helmet and an Enfield Bullet: http://www.semiadventuroustraveler.com/semi mctie bullet.html
Cheers,

R.

 

[bmattock]

Dear Bill,

Consider a full-face helmet and an Enfield Bullet: http://www.semiadventuroustraveler.com/semi mctie bullet.html
Cheers,

R.

Does nothing for pot holes. Seriously, you could die in one of them here. I was a rider for many years and consider myself experienced on and off road on a motorcycle. No way would I ride one here. You have no idea. I've been in third-world countries with better paving.

 

[dave lackey]

Hey, Bill...

Good buy on ebay...I need one of those myself! What car was it?

 

[bmattock]

Hey, Bill...

Good buy on ebay...I need one of those myself! What car was it?

1994 Mitsubishi Mirage. Bought it from an outfit called 'Boat Angel' that takes donations (mostly of boats, naturally) and then sells them on eBay. I picked it up in Virginia and drove it back to NC, then trailered it MI. I've put about 10,000 miles on it.

http://myworld.ebay.com/boatangelministries&ssPageName=STRK:MEFSX:SELLERID

I won the auction for $510. It doesn't look like much of a car, but it runs well and gets good mileage. Much better than my SUV, which I keep parked for now.

 

[dave lackey]

Don't look now!

Oct. 15 (Bloomberg) -- Bets that oil prices will top $100 a barrel in December jumped 10 percent yesterday to a record on the New York Mercantile Exchange, as the underlying futures rose to the highest level this year.


Oil is now almost $78/barrel....😱

Time to bend over and smile!

 

[dave lackey]

Ding, ding, ding....

$79.61/barrel today. Looks like it will be over $80/barrel by Halloween. Anyone want to wager when it hits $90/barrel? Or is everyone still got their heads in the sand?

Maybe I should, it is getting scary to think about.

 

[bmattock]

Or is everyone still got their heads in the sand?

I'm not sure what it is you want us to do about it?

 

[David Murphy]

Apparently recent natural gas reserves have been discovered worldwide that exceed expectations. This will certainly ease the issue of an oil peak. I've heard this "the sky is falling line" too many times in my life to take it too seriously any more.

 

[dave lackey]

Confession is good for the soul....LOL...

 

[TWoK]

http://www.thaindian.com/newsportal...oil-field-discovered-off-brazil_10038093.html