2010 = gas at $7 a gallon

bigbadbill

http://cbs2.com/gasprices/gas.prices.economy.2.758665.html


No Relief In Sight: Gas May Be $7 A Gallon By 2010
Gas Watch: Find Cheapest Gas In Your Area
CBS News Interactive: Oil And Gas Use
NEW YORK (CBS News) ― A new energy report predicts $200-a-barrel oil in as short a time as two years. If that happens, gas would likely go up to $7 a gallon - and that would have an enormous impact on the way Americans live

Mitchell Igelko in Miami complains rising gas prices are threatening his 20-year-old landscaping business. His two biggest trucks sit idle - he can't afford to fill them up.

Right now, Igelko's business averages $30,000 a month in gas - at $7 a gallon, that would jump to about $50,000 a month, CBS News correspondent Priya David reports.

"I think at that time, I'm gonna put a sign 'gone fishing,'" he said.

Economist Jeff Rubin predicts the $7 mark will arrive by the year 2010.

Hardest hit will be those for those making less than $25,000 a year. For them, gas will go from 7 percent of their income to a whopping 20 percent.

"People are going to be spending more on gas than they are on groceries," said Rubin. "And that's not a sustainable choice."

In fact, by 2012, higher prices could send an additional 10 million vehicles off the road.

It would certainly ease congestion. Having that many cars come off the roads is like permanently parking twice as many cars as there are in the whole state of New Jersey.

Some look to Europe for solutions to the skyrocketing gas prices.

"They drive these nice little cars which maybe we should start doing," one U.S. driver said.

Expensive gasoline has led Europeans to also drive less than we do. In America, over 90 percent of all households commute to work by car. Compare that to just 60 percent of British households.

"People's entire mindset as to what kind of vehicles they drive, where they live, choices they make on holidays, and vacations are going to be quite different, because it's starting to bite," said Joseph Romm of climateprogress.org.

For Mitchell Igelko, $4 gas is trimming his profits, but $7 gas would be a knock-out blow.

Eliot Rosewater

And that's when we start burning it with matches instead of engines, right?

BamaPJFan

$7.00 a gallon. And yet fools will still be driving pickups, SUVs, Hummers, and gas-guzzling sports cars.

manipulatedliving

Is there ever going to be a point where people just say "Alright...seriously...wtf mate?" I mean, I can't even stand paying what I am NOW for gas, needless to say 7.00 a gallon. I ride a sport bike (just to help with gas) but this is really getting ridiculous.

LikeAnOcean

manipulatedliving wrote:

Is there ever going to be a point where people just say "Alright...seriously...wtf mate?" I mean, I can't even stand paying what I am NOW for gas, needless to say 7.00 a gallon. I ride a sport bike (just to help with gas) but this is really getting ridiculous.

I have.. I moved to one mile from work. I try to use my car as little as possible, only to visit family and friends... Fortunately I live and work in the city. It's gotta suck for people who live in the middle of nowhere.

manipulatedliving

LikeAnOcean wrote:

I have.. I moved to one mile from work. I try to use my car as little as possible, only to visit family and friends... Fortunately I live and work in the city. It's gotta suck for people who live in the middle of nowhere.

I hear that. It just seems like people are kinda just taking it you know? "oh, 7 dollars a gallon? oh well. i guess i just have to." Its terrible. I'm thinking of buying me an old school bicycle. Atleast its good excercise. I think everyone should boycott and buy a huffy. Take that corporate America!

kuenstner

g'day mates

just a little example from switzerland...

1 litre = 1.98 Swiss Franks
1 gallon (3.78541178 litre) = 7.49511532 Swiss Franks

7.49511532 Swiss Franks = 7.37272758 U.S. dollars

here in switzerland we already have reached to 7$-mark. i don't have a car, but even to refuel my motorbike hurts a little.

have a nice sunday + greetings from switzerland

markus

slightofjeff

In fact, by 2012, higher prices could send an additional 10 million vehicles off the road.

And then, prices will have no choice but to come down. It's supply and demand. Basic economics.

LavaLamp_GuitarTramp

manipulatedliving wrote:

Is there ever going to be a point where people just say "Alright...seriously...wtf mate?" I mean, I can't even stand paying what I am NOW for gas, needless to say 7.00 a gallon. I ride a sport bike (just to help with gas) but this is really getting ridiculous.

The oil companies are gonna push people like you & me around because all people like you & me do is sit around & get upset without doing anything - they love us for this.

LavaLamp_GuitarTramp

slightofjeff wrote:

And then, prices will have no choice but to come down. It's supply and demand. Basic economics.

Gas prices never have to go down. They give us an ultimatum, "Hey American assholes, this is what we're fucking charging, if you don't like it - tough shit - let's see you live without a car".

That's the truth man, they never have to go down.

slightofjeff

LavaLamp_GuitarTramp wrote:

Gas prices never have to go down. They give us an ultimatum, "Hey American assholes, this is what we're fucking charging, if you don't like it - tough shit - let's see you live without a car".

That's the truth man, they never have to go down.

Not true.

I mean, eventually, the price makes it so that it becomes *literally* impossible to use gas at the same rate. It's not a choice. I'm at home. It takes me $150 to put gas in my car. I don't have $150. I don't go anywhere. This is going to start happening more and more.

People will start using their car *only* to go to work. They will start finding ways to work from home, if they can. They won't go out to dinner, or the movies or concerts. They will find ways to entertain themselves at home. They will start taking public transportation.

At that point, price will *have* to come down, or gas stations will be sitting around with unsold tankers of gas.

Supply and demand.

Gas is a necessity ... but only to a point.

LavaLamp_GuitarTramp

slightofjeff wrote:

Not true.

I mean, eventually, the price makes it so that it becomes *literally* impossible to use gas at the same rate. It's not a choice. I'm at home. It takes me $150 to put gas in my car. I don't have $150. I don't go anywhere. This is going to start happening more and more.

People will start using their car *only* to go to work. They will start finding ways to work from home, if they can. They won't go out to dinner, or the movies or concerts. They will find ways to entertain themselves at home. They will start taking public transportation.

At that point, price will *have* to come down, or gas stations will be sitting around with unsold tankers of gas.

Supply and demand.

Gas is a necessity ... but only to a point.

The oil companies don't give a shit if people only use gas to drive to & from work. Work is a necessity & they know it. Gas still doesn't have to go down.

LikeAnOpeningBandForTheSun

maybe fuckhead developers will stop building shit so far apart around here.

gabers

It's a whole mindset that will have to change. We love our space and our big cars. I guarantee you, at $7 a gallon, there will be major shift in the American lifestyle. And probably for the better, at the expense of the lower classes, unfortunately.

Open

http://www.youtube.com/watch?v=AdRbuUQNcxw

Uncle Leo

MrSmith wrote:

maybe fuckhead developers will stop building shit so far apart around here.

That's our problem. We've developed as if cheap gas was an infinite guarantee. At 7 bucks a gallon it's not just the SUV's etc., but our behavior that's really going to need to be examined.

Kel Varnsen

Uncle Leo wrote:

That's our problem. We've developed as if cheap gas was an infinite guarantee. At 7 bucks a gallon it's not just the SUV's etc., but our behavior that's really going to need to be examined.

That is sort of why I don't feel as bad about high gas prices. On one hand yes it does cost me about 50 bucks to fill up my Honda Fit. On the other hand my home is fairly close to the urban centre of the city I live in (although smaller than a 2 garage house in the burbs), so as gas prices keep climbing fewer and fewer people are going to want to live in the suburbs and deal with an hour+ long commute so the value of my place will keep going up.

NOCODE#1

bigbadbill wrote:

http://cbs2.com/gasprices/gas.prices.economy.2.758665.html


No Relief In Sight: Gas May Be $7 A Gallon By 2010
Gas Watch: Find Cheapest Gas In Your Area
CBS News Interactive: Oil And Gas Use
NEW YORK (CBS News) ― A new energy report predicts $200-a-barrel oil in as short a time as two years. If that happens, gas would likely go up to $7 a gallon - and that would have an enormous impact on the way Americans live

Mitchell Igelko in Miami complains rising gas prices are threatening his 20-year-old landscaping business. His two biggest trucks sit idle - he can't afford to fill them up.

Right now, Igelko's business averages $30,000 a month in gas - at $7 a gallon, that would jump to about $50,000 a month, CBS News correspondent Priya David reports.

"I think at that time, I'm gonna put a sign 'gone fishing,'" he said.

Economist Jeff Rubin predicts the $7 mark will arrive by the year 2010.

Hardest hit will be those for those making less than $25,000 a year. For them, gas will go from 7 percent of their income to a whopping 20 percent.

"People are going to be spending more on gas than they are on groceries," said Rubin. "And that's not a sustainable choice."

In fact, by 2012, higher prices could send an additional 10 million vehicles off the road.

It would certainly ease congestion. Having that many cars come off the roads is like permanently parking twice as many cars as there are in the whole state of New Jersey.

Some look to Europe for solutions to the skyrocketing gas prices.

"They drive these nice little cars which maybe we should start doing," one U.S. driver said.

Expensive gasoline has led Europeans to also drive less than we do. In America, over 90 percent of all households commute to work by car. Compare that to just 60 percent of British households.

"People's entire mindset as to what kind of vehicles they drive, where they live, choices they make on holidays, and vacations are going to be quite different, because it's starting to bite," said Joseph Romm of climateprogress.org.

For Mitchell Igelko, $4 gas is trimming his profits, but $7 gas would be a knock-out blow.

considering the oil industry has been cyclical its whole life, i find this hard to believe.

NOCODE#1

LavaLamp_GuitarTramp wrote:

Gas prices never have to go down. They give us an ultimatum, "Hey American assholes, this is what we're fucking charging, if you don't like it - tough shit - let's see you live without a car".

That's the truth man, they never have to go down.

the above was posted from someone who did exactly no homework on oil consumption over the past 30 years.

LavaLamp_GuitarTramp

NOCODE#1 wrote:

the above was posted from someone who did exactly no homework on oil consumption over the past 30 years.

the above was posted by someone who listens to too many politically one-sided media outlets.

slightofjeff

LavaLamp_GuitarTramp wrote:

The oil companies don't give a shit if people only use gas to drive to & from work. Work is a necessity & they know it. Gas still doesn't have to go down.

Yes ... but they use LESS gas that way.

The oil companies would care if everybody used LESS gas. By combining trips and refusing to drive except to work and for emergencies, I've limited my fill-ups to about three a month. That's about half of what I had been using, back when gas was cheaper and I didn't give a shit.

I'm telling you, if everyone in America basically cut their gas consumption in half ... the oil companies would HAVE care. Because the supply of gas would begin to outstrip demand, which would force the prices to come down.

Didn't they teach you economics in high school?

Yes, gas is a bit less responsive to economic trends because it is so neccesary ... it's about the last thing people will give up. But if people give it up, the prices WILL come down.