Oil hits record near $140 a barrel on dollar

mammasan
mammasan Posts: 5,656
edited June 2008 in A Moving Train
http://biz.yahoo.com/ap/080616/oil_prices.html

This is just getting insane. This weekend I filled my gas tank and it cost me $89.00. I stopped at a gas station on my way to my brother's house to fill up because it was the cheapest I saw at $3.98 for regular. Just two months ago regular at the same station was $2.91. How long can the average consumer afford to pay these prices?
"When one gets in bed with government, one must expect the diseases it spreads." - Ron Paul
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Comments

  • polaris
    polaris Posts: 3,527
    it's a wake up call ... i filled up my car this weekend ... i think the last time i filled it up was in april ...
  • spiral out
    spiral out Posts: 1,052
    I've seen talk of it reaching $200-$250 a barrel next year. It's about £1.20 a liter over here and an article i read said it would go to £2.40 a liter next year.

    I don't own a car but people i know have really noticed the increases already, so if they do double next it could cause some real pain, as food prices have really hiked as well this year.
    Keep on rockin in the free world!!!!

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  • Pacomc79
    Pacomc79 Posts: 9,404
    just in time for the rigid fork and Aheadset conversion to my old bike.
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  • blackredyellow
    blackredyellow Posts: 5,889
    There was a story on our local NPR station last week about how mass transit authorities are struggling financially. Ridership is up, but not nearly enough to cover the increased fuel costs, so many of them are going to the state governments for more money and/or increasing rates.
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  • LikeAnOcean
    LikeAnOcean Posts: 7,718
    Geez, thats insane!

    The only real need I have for my car is visiting my parents and doing my laundry. I last used it Sunday evening driving back for fathers day.. my goal is to leave it parked until next Saturday when I have to go back out to the burbs.
  • slightofjeff
    slightofjeff Posts: 7,762
    mammasan wrote:
    http://biz.yahoo.com/ap/080616/oil_prices.html

    This is just getting insane. This weekend I filled my gas tank and it cost me $89.00. I stopped at a gas station on my way to my brother's house to fill up because it was the cheapest I saw at $3.98 for regular. Just two months ago regular at the same station was $2.91. How long can the average consumer afford to pay these prices?

    Not every long. And that's when the prices will start dropping again ... when the supply begins to outstrip the demand.
    everybody wants the most they can possibly get
    for the least they could possibly do
  • RolandTD20Kdrummer
    RolandTD20Kdrummer Posts: 13,066
    Wait until they stick a pin in Iran....

    Hoh boy...
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  • stickfig13
    stickfig13 Posts: 1,532
    mammasan wrote:
    http://biz.yahoo.com/ap/080616/oil_prices.html

    This is just getting insane. This weekend I filled my gas tank and it cost me $89.00. I stopped at a gas station on my way to my brother's house to fill up because it was the cheapest I saw at $3.98 for regular. Just two months ago regular at the same station was $2.91. How long can the average consumer afford to pay these prices?


    $3.98!
    That's cheap! I payed $4.56 in San Diego!
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  • MakingWaves
    MakingWaves Posts: 1,294
    What i don't understand is Saudi Arabia said they are going to increase supply and the price still goes up. Can you imagine what would happen to the price if Saudi Arabia said they were cutting back on supply.

    It's bullshit
    Seeing visions of falling up somehow.

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  • Cosmo
    Cosmo Posts: 12,225
    MakingWaves wrote:
    What i don't understand is Saudi Arabia said they are going to increase supply and the price still goes up. Can you imagine what would happen to the price if Saudi Arabia said they were cutting back on supply.

    It's bullshit
    ...
    Welcome to the Global marketplace kiddies. It's the place where wealth is made.
    ...
    and you cannot deny... someone is getting wealthier.
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  • Commy
    Commy Posts: 4,984
    shitty thing is oil goes up in the summer, drops a few cents in the winter. wouldn't be surprised to see it jump even higher in the next few months.


    all part of the class war that very few people even know is going on. They are winning.
  • josevolution
    josevolution Posts: 31,827
    there is no cap on how high the prices will get why because we americans love getting shafted with out vaseline, when we as consumers say enough is enough and get out into the streets and fucking protest on a country wide scale then maybe we can get something done ,yesterday i spoke on the phone to family down in CHILE today there was massive protest by the people for the people no buses,no subways teachers were staying home in protest of high fuel prices ,if we continue to be sheep this gov will just keep on bangin us .........we better wake up and soon ......
    jesus greets me looks just like me ....
  • josevolution
    josevolution Posts: 31,827
    Commy wrote:
    shitty thing is oil goes up in the summer, drops a few cents in the winter. wouldn't be surprised to see it jump even higher in the next few months.


    all part of the class war that very few people even know is going on. They are winning.

    your right look at my location ...
    jesus greets me looks just like me ....
  • mammasan
    mammasan Posts: 5,656
    MakingWaves wrote:
    What i don't understand is Saudi Arabia said they are going to increase supply and the price still goes up. Can you imagine what would happen to the price if Saudi Arabia said they were cutting back on supply.

    It's bullshit

    Saudi Arabia is only going to increase production by about 500,000 barrels a day. I believe the article stated that they would have to increase production by over 1.2 million barrels in order for us to see even a marginal price drop. I don't think that Saudi Arabia even has the capacity to increase production to a point where we would see a significant reduction in price.
    "When one gets in bed with government, one must expect the diseases it spreads." - Ron Paul
  • Cosmo
    Cosmo Posts: 12,225
    mammasan wrote:
    Saudi Arabia is only going to increase production by about 500,000 barrels a day. I believe the article stated that they would have to increase production by over 1.2 million barrels in order for us to see even a marginal price drop. I don't think that Saudi Arabia even has the capacity to increase production to a point where we would see a significant reduction in price.
    ...
    I heard some tools on Cable Television crying about drilling here in America to save us.
    ...
    Does anyone really believe that the oil companies want Joe American to pay less than what Joe Rest-Of-The-World is willing to pay?
    Guess who gets the oil that ExxonMobil pulls from American soil?
    If you guessed, "The highest bidder"... give yourself a Gold Star.
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  • stickfig13
    stickfig13 Posts: 1,532
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  • gabers
    gabers Posts: 2,787
    josevolution wrote:
    there is no cap on how high the prices will get why because we americans love getting shafted with out vaseline, when we as consumers say enough is enough and get out into the streets and fucking protest on a country wide scale then maybe we can get something done ,yesterday i spoke on the phone to family down in CHILE today there was massive protest by the people for the people no buses,no subways teachers were staying home in protest of high fuel prices ,if we continue to be sheep this gov will just keep on bangin us .........we better wake up and soon ......

    Yeah well most Americans won't raise a stink until their backs are against the wall. It's un-American! Only dirty hippies protest! As high as prices here, we really still have cheap oil compared to about 95% of the world. Even most poor countries in Latin America pay more for gas than we do. I think once it pushes over about $5 a gallon you will start to see some mass demonstrations. And of course those higher fuel prices will push up prices on just about everything else.
  • stickfig13
    stickfig13 Posts: 1,532
    gabers wrote:
    Yeah well most Americans won't raise a stink until their backs are against the wall. It's un-American! Only dirty hippies protest! As high as prices here, we really still have cheap oil compared to about 95% of the world. Even most poor countries in Latin America pay more for gas than we do. I think once it pushes over about $5 a gallon you will start to see some mass demonstrations. And of course those higher fuel prices will push up prices on just about everything else.
    I think most rational people know that gas is high around the world. However, most people don't understand the sudden skyrocket of prices in this country.

    You can say that prices have just adjusted to what they should be, but that is not good enough for most.
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  • Commy
    Commy Posts: 4,984
    stickfig13 wrote:
    I think most rational people know that gas is high around the world. However, most people don't understand the sudden skyrocket of prices in this country.

    You can say that prices have just adjusted to what they should be, but that is not good enough for most.
    you don't seem to mind giving companies like exxon $36 billion in profits/.
  • stickfig13
    stickfig13 Posts: 1,532
    Commy wrote:
    you don't seem to mind giving companies like exxon $36 billion in profits/.


    I think it's fucked....

    Do I have a realistic shot at changing the way Exxon uses the free market?
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