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I'm sure $5/gallon will come back, that's just around where more expensive domestic production becomes viable and puts a cap on that price as far as short term volatility goes. Of course will be there soon enough with inflation for the long term.
No, I think most of us realize that in the big scheme of things gas is a very minor expense, even at $4. When a starter house is $600k, utility bills can be $400/month in winter, $1-2 more per gallon is only $20-40 more for an average tank. I just drove my V8 truck with 385 horsepower about 900 miles on vacation, got average 21 mpg, and with the 36 gallon tank can go over 750 miles before filling up. At home that was $3.03/gallon, Oregon was about $3.59, and California at or just above $4.00. I still saw many, many travel trailers and RVs on the highway.
Gas isn't at all a minor expense if you have a long commute...I was easily spending over $600 A month in gas when prices skyrocketed a few years ago.
With that being said I NEVER had regrets about driving an SUV I regretted that I was forced into accepting job offers that where no where near where I lived due to being under a lot of financial pressure at the time.
Never again.
What the hell is the deal with all the hate for pickups and large SUV on these forums?
Couldn't swing the payment for that Yukon Denali?
Our roads are humongous, as is our country. People like large vehicles with lots of space and versatility/capability.
I'd die for a red Escalade myself. Luxury car interior, more road presence that almost anything, can tow 8000lbs, and has a glorious 6.2L V8 (while 4 cylinders are starting to take over).
History doesn’t necessarily repeat itself and there’s no such thing as destiny. I doubt gasoline will get much more expensive, fracking and increased American production has lowered the price and decreased the influence of the OPEC countries. The oil game has changed in a fundamental manner. And the price of gasoline has recently declined.
The glee some take in hoping some people will have to give up things they enjoy is unseemly.
It goes back and forth. Oil gets too cheap, then they stop pumping and lay off workers... then as supply diminishes and price goes back up, they start bringing workers back and pumping again like crazy... then the process repeats itself.
My spouse works in the oil field, and that’s why everything we own is paid for. It’s a boom and bust business, you save your money during the good times and be prepared for the bad ones.
Oil prices and gasoline prices fluctuate. If you could accurately predict those fluctuations you could become incredibly wealthy. There are rooms of traders at Goldman doing that.
You could use the profits to fill the 32 gallon tank on your SUV as often as needed.
Are most folks just too short sighted to think farther out than the next 2-3 years?
Yes
I don't foresee any regret coming. Short sighted is a good way to put it. You see mental myopia all around us in this country & it's no surprise because the adults in this country are becoming less intelligent. Being able to think long term is a frontal lobe higher level brain activity. I go over this with families of recovering stroke patients all the time. In general population, some have it, some don't.
Also, Americans are getting larger & SUV/Trucks are easier or supposedly easier to haul large people around.
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