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#16
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I remember when gas was .69 cents a gallon. And im 29. 1996 or 7 I think it got own to .69 cents. It used to cost me 8 bucks to fill up my Acura Integra hatchback, and id drive for two weeks on that.
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1983 300SD 296K+ 1984 300SD parts car |
#17
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We will all be able to tell our grandkids, "I remember when it was under $10/gallon; of course, that was back when the US dollar still had value."
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#18
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Quote:
Gold Standard To get back on topic though, I have a buddy thats a roughneck on a offshore drilling rig in the gulf. According to him there are 6 ports in the world capable of building these rigs, and he says there is currently one being constructed at every one of them, at a cost of billions++ each with a working life span of 30 or so years. His rational is that if there were infact a global shortage of oil the energy companies would simply be patching up the old ones. Therefore the conclusion is that all of this hysteria about running out of oil is nothing but fear mongering and dirty politics on a grand scale. Im not saying I buy this, but I would say it's a reasonable, and plausible scenario. Something to think about.
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1983 300SD 296K+ 1984 300SD parts car |
#19
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The gold standard isn't going to happen (for one thing, the US doesn't own enough gold to back the dollar at current prices).
I haven't heard anyone claim there is a worldwide shortage of oil, there is only a shortage of cheap oil. There is plenty of $200/barrel oil available in the world, and all these new oil rigs will be used to go get it. This is not an energy problem, it is an economic problem; and it's only a "problem" if you are a consumer, not a producer. If you are a producer, it's an opportunity. |
#20
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There was a whole docu-drama series on the Discovery Channel last year called "When the Oil runs out" on which they interviewed several "scientists" that were saying the contrary, it also seems I have heard this from other sources. I was under the impression the suppliers could not keep up with global demand and this is the supposed reason why we have seen higher prices. i.e. chinas industrial boom, etc.
If in fact there were no shortage, and supply were plentiful, why the price hike?
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1983 300SD 296K+ 1984 300SD parts car |
#21
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How about "Thanking" our liberal representatives that refuse to let us drill?
China is drilling off the Florida coastline, but our companies can't. Don't even get me started on the scare tactics used for nuclear. You voted for them, you're responsible for the results. Can't wait for Obama to wreck what's left of the economy. This ridiculous cap and trade legislation is going to add 53 cents to the gallon, all for a perceived issue. China and India have refused to participate, why should we hobble our economy when they do not? Enviormentalists are the new marxists. Jim
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14 E250 BlueTEC black. 45k miles 95 E320 Cabriolet Emerald green 66k miles 94 E320 Cabriolet Emerald green 152k miles 85 300TD 4 spd man, euro bumpers and lights, 15" Pentas dark blue 274k miles |
#22
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Quote:
1. A "shortage" of $100/barrel oil on the market, partially due to OPEC production caps. Not the same thing as an overall "shortage" of oil. As you pointed out, people would not be building billion dollar facilities if there wasn't oil to be drilled. 2. The devaluation of the US dollar, partial driven by the trade deficit (including energy imports). 3. Speculation in oil is artificially driving up the price (by maybe $10-20), just like the price of gold (a horrible investment BTW). |
#23
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I remember 10 gallons for a buck
That was before I was a driver, but it doesn't seem so long ago. When I was in the US Army in 1954/55, we could buy "army" gas at the PX on Friday PM's for $0.11. And that was in Brooklyn, NY. Weren't very many people looking for car diesel in those days. And this is the first time in my life that it is painful to buy fuel. Before this current price surge of the past 24 months, nobody really considered the price of fuel. It was a necessary part of the cost of transportation, but it wasn't painful.
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Junqueyardjim Christianity, if false, is of no importance, and if true, of infinite importance. The only thing it cannot be is moderately important. C.S. Lewis 1983 Mercedes W123 240D 4 Speed 285,000 on the road with a 617 turbo, beautiful butter yellow, license plate # 83 240D INDIANA 2003 Jaguar Type X, AWD. beautiful, good mileage, Mom's car, but I won't let her drive it! |
#24
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It is ridiculous, $0.53/gallon isn't nearly enough. If you want to put a significant dent in US oil consumption, you will need to drive the price much higher than the current price blip or some token "carbon tax." Regardless of any environmental reason, the US needs to reduce oil consumption enough to start turning around the trade deficit, that's a much larger problem in the short term. I would propose a significant tax with the intent of driving down US energy consumption (I really don't care what the money is used for).
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#25
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Hoo Rah. Right there with ya buddy.
I once heard that one volcanic eruption releases enough CO2 into the atmosphere to equal that of the entire human race in a year.
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1983 300SD 296K+ 1984 300SD parts car |
#26
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Horrible now. Great about 5 yrs ago.
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1983 300SD 296K+ 1984 300SD parts car |
#27
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What if you put all your retirement money into gold in 1980? You'd have been in very sorry shape 5 years ago, not to mention today.
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#28
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Horrible over the long term, you might as well keep your money under your bed. It's much to volatile and and never really gains any value compared to the overall economy. No-one is smart enough to time the market consistently. IMHO, the only way to make money on gold is to sell it to a bunch of idiots through late night TV commercials.
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#29
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1980 was a peak. Bad example, it's like pointing out a game where Babe Ruth went 0 for 4 and concluding he's a lousy hitter. Pick ANY other year and you would see a nice return today.
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1983 300SD 296K+ 1984 300SD parts car |
#30
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Quote:
What investment did as well over the last three years, including anything International? Close to 40% increase a year Nothing's done better for the last 5 years either. 5 years ago it was $350, that's over 31% a year Keep in mind that there are no broker fees for buying gold. ( I wonder why brokers and commercially appointed 'pundits' and 'experts' don't recommend gold ) More importantly there are no capital gains taxes, no taxes at all. The only fees may be eBay selling fees if one wants to go that way. Buying gold at this time will surely not be as profitable as buying over the last 5 or even 10 years (over 20% yearly profit if bought 10 years ago). And buying anytime between 10 to 15 years ago resulted in double digit profits every year. Double digit profits every year over the last 10-15 years and no taxes. (30%-40% profit if bought over the last 2-5 years) Horrible indeed. Gold is not going down either.
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83 300D 328k mi (623) Light Ivory - daily driver 82 300D 166k mi (881) Thisle Green - fixer upper 82 300D 282k mi (473) Champagne - parts Last edited by rkohut; 06-08-2008 at 02:54 PM. |
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