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runner140 | Crude oil price update....... | ||
Master Guru
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Crude was down $3.34 yesterday and over $1.28 today to $126.98. The high last week was $135.00. Lets see how long it takes for gas prices to drop.
Consumption is down a ton in the U.S. and is off in the BRIC(Brazil-Russia-India-China) countries. This bubble will pop eventually. Is the formula changing??? 85 million barrels a day of production and 87 million barrels a day of comsumption. Stay tuned for some possible answers kids. |
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Posted on: 2008/5/28 11:42
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96, white and a ton of miles. Somewhat stock. |
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DaleD | Re: Crude oil price update....... | ||
Senior Guru
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I'm actually torn on this one, believe it or not.
If the price of gas drops soon, people will go back to their SUVs. I have nothing against SUVs, but having the roads clogged with SUVs with one occupant isn't the way to reduce demand. However, if the price of gas doesn't drop soon, a lot of people will be seriously hurt financially. My fondest wish is that when oil does shift in price, it does it quick enough so that speculators lose their collective a$$. |
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Posted on: 2008/5/28 12:02
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Whenever someone says "I'm not book smart, but I'm street smart", all I hear is "I'm not real smart, but I'm imaginary smart". |
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pianoguy | Re: Crude oil price update....... | ||
Guru Emeritus
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One thing about high prices is that it starts to make alternatives economically feasible. The sooner we can turn this into a technology problem, the better.
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Posted on: 2008/5/28 12:32
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1996 LT4 �Before you criticize someone, you should walk a mile in their shoes. That way when you criticize them, you are a mile away from them and you have their shoes.�- Jack Handey |
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red_johnny | Re: Crude oil price update....... | ||
On Sabbatical
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We can talk all we want about SUVs with one person in them but lets think for a moment, we drive corvettes with only 2 seats. Yeah SUVs suck gas but so do the vettes, not as much though.
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Posted on: 2008/5/28 12:56
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DaleD | Re: Crude oil price update....... | ||
Senior Guru
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Quote:
You haven't seen me whine a lot about the price of gas. I know I'm driving a Corvette by choice. So, I pay the price. But I only put about 3k miles on it a year. If I had serious driving to do, I'd be driving a Civic, or some other such small car. |
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Posted on: 2008/5/28 13:03
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Whenever someone says "I'm not book smart, but I'm street smart", all I hear is "I'm not real smart, but I'm imaginary smart". |
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runner140 | Re: Crude oil price update....... | ||
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Posted on: 2008/5/28 13:38
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96, white and a ton of miles. Somewhat stock. |
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red_johnny | Re: Crude oil price update....... | ||
On Sabbatical
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Posted on: 2008/5/28 13:54
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runner140 | Re: Crude oil price update....... | ||
Master Guru
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We all complain, mine is also a DD and is driven over 18000 miles per year. But, our gas mileage is not what an suv's gets.
On energy but a different subject, Exxon/Mobil in the next hour (stockholder meeting)is going to have its ass kicked by stockholders and the Rockefeller family. It should be interesting and entertaining. |
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Posted on: 2008/5/28 14:11
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96, white and a ton of miles. Somewhat stock. |
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Touringmike | Re: Crude oil price update....... | ||
Senior Guru
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Best of both worlds. |
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Posted on: 2008/5/28 14:26
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´85 4+3 |
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Touringmike | Re: Crude oil price update....... | ||
Senior Guru
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Why? Aren't the profits (Billions in the last quarter) High Enough? Watching the Congressional hearings on the excessive profit making by E/M, the CEO says "We're re-investing the profits" Where? They certainly aren't building any new refineries (Which is a catch 22 thing, you know, not in my back yard, but make more product) |
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Posted on: 2008/5/28 14:30
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´85 4+3 |
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bogus | Re: Crude oil price update....... | ||
Grand Imperial Pooh-Bah
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I don't like folks comparing a modern Vette to an SUV. It just doesn't match up.
The best a full sized SUV will get is 20 on the highway, my 92 gets 25, at least. That's 25% better, the last time I checked. And with all other cars getting more power and weight, 25 isn't bad. I remember a few years back when we had a price rise on gas, I was at the pumps and this lady was bitching that it cost $40 for her to fill her Navigator... I simply suggested she should have taken that into consideration when buying. It didn't go over very well. One little woman driving 6k pounds of luxury SUV. It made so little sense. And I think that's what bothers me. The Vette does get (all things being equal, carbed 383s don't count ) better mileage and doesn't take up the same amt of highway space. |
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Posted on: 2008/5/28 14:48
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The single biggest problem with communication is the illusion that it has taken place. - George Bernard Shaw Education is the best tool to overcome irrational fear. - me |
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runner140 | Re: Crude oil price update....... | ||
Master Guru
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The profits are high enough but Exxon is using more oil and finding less every year. The company has no future plan for energy production away from crude oil. Stockholders want the company to diversify into solar, wind and natural gas. Stockholders feel that Exxon is self liquidating. The company is reinvesting the profits in 95% crude oil related areas. Stockholders and the Rockefellers want the presidents head. |
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Posted on: 2008/5/28 15:19
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96, white and a ton of miles. Somewhat stock. |
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brut | Re: Crude oil price update....... | ||
Guru Emeritus
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I put my '88 back on the road BECAUSE it gets better MPG than my Ford Ranger which gets between 14-16mpg. I reset my "average gas mileage" gauge before I left for work and when I got back it said 22mpg. That is freeway and city driving. It is mucho better!
I am glad to see crude oil is falling, but will it make a difference, really? I was told(and this may not be true), that as DEMAND goes down, so does the oil production. If that is true, then they have us in a hole we can't get out of. I truly believe that is the weak dollar that has caused all of this, and I am sure Bush had even more money printed for our "boost the economy checks" which wekens the dollar even more. |
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Posted on: 2008/5/29 20:00
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'71 Nevada Silver Coupe '76 Bright Yellow 4-Speed Coupe '88 Midnight Blue Coupe -SOLD- '02 Harley Davidson Heritage Softail Classic '07 Hummer H3 |
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red_johnny | Re: Crude oil price update....... | ||
On Sabbatical
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Posted on: 2008/5/29 20:52
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