Gas price will increase even higher!!! - PeachParts Mercedes-Benz Forum

Flash Gordon · #1 04-01-2004, 11:42 AM

OPEC is cutting output by 4% and this will impact the increasing gasoline prices even higher. One of the main reason for the increase is due to the weak US dollar because oil is sold on US currency. I feel we only have ourselves to blame for the budget and trade deficits which are the main causes for the sliding US currency and economy for the last couple of years. Facing the ever increasing spending and untimely tax cuts, this is only the beginning of the payback! Inflation will be next

crash9 · #2 04-01-2004, 11:56 AM

Well your tuned into the right channel, but the market’s been down the last few days – buy rumor, sell fact blah, blah – If there’s any trouble in Venezuela – get out of the way – "Too the moon Alice."

elau · #3 04-01-2004, 01:42 PM

What difference does it make? We have been at the mercy of OPEC since the '70s and we still refuse to learn. I posted my sentiment about our oil dependency and the needs to find alternatives, but I was ridiculed for the idea. That demostrated the mentality of the majority of the US population - why drill in our own backyard, alternative fuel is expensive to produce and little in return, solar panels are too toxic, blah ...blah. So we are back to square one. OPEC got us by the b@lls again. We had thirty years to tell OPEC to go f&#k themselves, and we pissed those time down the drain.

crash9 · #4 04-01-2004, 02:28 PM

I don’t think you can look at OPEC like they’re some sort of bad guy in this recent run up. There’s a lot of speculation related to what may happen in Venezuela and most of it reflects the weak dollar. In the past there was a cute little game that would be played – at least that’s the way I saw it – maybe Bot could comment on this as I think he may be closer. It seems they’d run price up to where small independents would go out and start doing the geology and discovery work. Then they’d (OPEC or the majors that really control them) kill the market down to $10 – the independents would fold, and the majors would pick up a lot of free seismic work and cheap leases.

elau · #5 04-01-2004, 02:43 PM

Quote:

Originally posted by crash9
I don’t think you can look at OPEC like they’re some sort of bad guy in this recent run up. There’s a lot of speculation related to what may happen in Venezuela and most of it reflects the weak dollar. In the past there was a cute little game that would be played – at least that’s the way I saw it – maybe Bot could comment on this as I think he may be closer. It seems they’d run price up to where small independents would go out and start doing the geology and discovery work. Then they’d (OPEC or the majors that really control them) kill the market down to $10 – the independents would fold, and the majors would pick up a lot of free seismic work and cheap leases.

OPEC IS the bad guy! They are holding the world's economy hostage. They know their controling days are near the end. With Iraq back in the US hands, and the oil is not un-exhaustable no matter how much they have. It is their last ditch to squeeze more $$ out of the developed world before their oil fields run dry in the next few decades and all that is left is the desert. Those Sadi $hitheads aren't stupid.

MTI · #6 04-01-2004, 04:37 PM

OPEC, as a group, is currently over producing despite their last round of production cuts. It seems as a cartel, they really don't control their individual members. Consider this, why would they actually turn down the "spigot" when they're happy to sell crude at $35+ per barrel at the present time, with the price climbing? OPEC's production pronouncements are generally political and "face saving" than true economic decisions.

yal · #7 04-01-2004, 05:23 PM

Um yeah lets blame OPEC not our over consumption of the stuff

The rise in price per barrel doesn't bother me as much as the effect the slightest change in oil production seems to have on our economy. I think elau hit it on the head, we have had all the time in the world to wean ourselves off of some of it, instead we bought SUV's. Now I know SUV's only represent a small fraction of the consumption but I think at a certain level it represents our arrogance towards the issue. They are not holding us hostage, we're holding ourselves hostage.

Botnst · #8 04-01-2004, 06:01 PM

I heard last night on NBC that the "real" price of gas is lower today than last year.

I love economics. I'd be interested in seeing a graph of the value of gas over fifty years in constant dollar terms, wouldn't mater what year. I'm more interested in the proportion.

B

fj bertrand · #9 04-01-2004, 06:22 PM

here we are, with 4% of the world's population sucking up 25% of its' energy. Next year China will exceed Japan (not counting Kalifornia's) as the number 2 importer of fuel. then what? there's more chinese than americans.

My TDI gets 45 mpg. what more can we ask for???

Slap an extra 25c a gallon tax for mass transit. would help.

engatwork · #10 04-01-2004, 06:55 PM

Quote:

OPEC IS the bad guy! They are holding the world's economy hostage. They know their controling days are near the end.

I share some of the same thoughts in regards to oil/fuel consumption. I think we, as Americans, are going to start experiencing prices that Europeans had a few years ago.

It continues to amaze me the number of ads on tv for large, full size, high horsepower SUV's and trucks. Cheap fuel got us to the point we are at today and high price fuel is going make us finally change.

You should be able to pick up a full size SUV for a really good price by the middle of the summer. I can't even imagine what it is like to spend more than about $20.00/week for fuel.

732002 · #11 04-01-2004, 07:14 PM

If we drove cars than got better MPG we would not be so
dependent on OPEC. Gas has only gone up 15-25% but
the difference from a 10mpg SUV to a car that can get
40-50 mpg is 400-500%.

www.lifeaftertheoilcrash.net

I don't think it is as bad as these people but it makes sense
that oil production will decrease at some time. If not in my
lifetime my kids or grandkids.

MTI · #12 04-01-2004, 08:44 PM

I blame the "soccer moms"!

(BTW, don't ever run a Google on "soccer moms" with the kids in the room!

)

Actually, why does anyone need a 6,000 pound SUV to shuttle kids to and from the school and the playing field, even if there is a tax credit to help pay for it?

Botnst · #13 04-01-2004, 08:58 PM

Here's a page with some interesting analysis and graphs. Note the graph of inflation-adjusted oil prices. We're paying less than we did in the late 1970's to mid-1980's in "real" dollars.

http://www.cis.state.mi.us/mpsc/reports/energy/99winter/petroprices/petroprices.htm

Funny stuff, huh?

Bot

moparmike · #14 04-02-2004, 03:20 AM

I addressed this issue last June. Check out this: Foreign and Domestic Oil no longer needed...

That is our ticket to low oil prices. I would like to see the faces of OPEC when we start producing oil at $12 a barrel (assuming a 50% profit margin, $8 cost to company, $4 profit) in the heart of the US.

Kiss my a$$ OPEC.

Quote:

Slap an extra 25c a gallon tax for mass transit. would help.

Umm, you are only half as bad as sKerry. He wants to slap a 50c tax on each gallon. Nothing personal, but I have a message for those that want to make sin taxes: Kiss my a$$.

BTW, my 380SEL gets 23hwy (which I am perfectly fine with) and 14 or so in the city. Because of my driving needs (12mi a day, in 2 rd trips of 3 miles and not even getting up to operating temperature), I bought a Yamaha Virago 250 to get around town at about 50mpg. Thus reducing my gas needs from $60 a month to about $10. In the first 2yrs worth of riding months, it pays for itself in gas savings alone.

mikemover · #15 04-02-2004, 03:29 AM

PLEASE, let's stop whining about oil/gas prices....The US has the lowest fuel prices ANYWHERE!

Adjusting for inflation and rising incomes, US fuel prices are about the same as they were 20 years ago. We cannot expect the price of fuel to remain constant as the price of other goods rises, and average incomes rise.

We need to either produce ALL of our oil ourselves (ANWR, offshore drilling, etc.), or continue to be at the mercy of OPEC, and continue to cry about it.

Mike