$5 gas and $150 oil a done deal (costs, economy, Chicago, Boston)

[58robbo]

Originally Posted by Shuffler

I was pointed to this video today, and while his delivery is sorta 'fire and brimstone', it's very believeable and to the point. It's long and definitely worth watching. This was Oct 07, and he called for $4/gal gas back then, and I can't find any info disparaging the guy.

The Energy Non-Crisis

Lindsey Williams talks about his first hand knowledge of Alaskan oil reserves larger than any on earth. And he talks about how the oil companies and U.S. government won't send it through the pipeline for U.S. citizens to use due to geopolitical implications.

Sobering...I hope it isn't true, but at the same time wouldn't be surprised to learn that it is...

real life version of willard "digger" barnes. the guy's a preacher not a geologist! get real.

here is one of the reviews of his book on amazon:
"The book contains many undocumented statements and a few half truths. I have been in the oil construction / engineering field in Alaska for over 30 years. I have also done extensive research on Hubbert's "Peak Oil" theory, which is not a theory anymore. In 1948 Hubbert began proving his theory beyond doubt by refining his data in time blocks to gain the maximum accuracy it contains today. Hubbert's theory acounts for the unfound oil and it is proving more true as time passes. It is a shame to see an individual, like Williams, supposedly representing God, to use a dead man,a mystery man and our nation's ignorance on anything outside American Idol, in an attempt to get into his neighbor's pockets."

[bchris02]

Originally Posted by AJGIANTS

That is incorrect. How can you say speculators hardly have an effect on the price of a commodity after what we have gone through with the tech and real estate bubbles. Those were both Led by speculators.

This bubble is by far more painful than the past ones. Everybody must use petroleum products, wheras those who bought their homes to live in are unaffected by the real estate crash.

They are trying their hardest to get it to $150 by July 4th. Question is, when will demand destruction start to kick in?

And I am not sure Hubbert or Lindsey Williams are 100% on the mark though they both have good points.

[58robbo]

Originally Posted by bchris02

This bubble is by far more painful than the past ones. Everybody must use petroleum products, wheras those who bought their homes to live in are unaffected by the real estate crash.

They are trying their hardest to get it to $150 by July 4th. Question is, when will demand destruction start to kick in?

And I am not sure Hubbert or Lindsey Williams are 100% on the mark though they both have good points.

there might be lowered US demand but the chinese have piles and piles of dollars they're looking to get rid of

[bchris02]

Originally Posted by 58robbo

their might be lowered US demand but the chinese have piles and piles of dollars they're looking to get rid of

People can cut back and cut back but eventually they aren't going to be able to cut back anymore. 10 millions cars will go off the road if gas hits $7.

[evilnewbie]

10 million cars go off the road if it hits $7... Damn, I hope it hits $7 then... thats a good thing....

[AJGIANTS]

Originally Posted by evilnewbie

10 million cars go off the road if it hits $7... Damn, I hope it hits $7 then... thats a good thing....

I have noticed traffic is less then it was a year ago. Anyone else?

[58robbo]

Originally Posted by bchris02

People can cut back and cut back but eventually they aren't going to be able to cut back anymore. 10 millions cars will go off the road if gas hits $7.

thank god for small mercies

[chuck22b]

Originally Posted by AJGIANTS

I have noticed traffic is less then it was a year ago. Anyone else?

yea a bit. Fuel cost increases taxes the poor more than the rich... and the poor usually have the longer commutes. Rail and bus ridership has also gone up which would improve traffic congestion.

Overall though, higher gas prices just increasingly stratifies the rich and the poor. The poor btw out numbers the rich and are increasingly burdened. Put two and two together... and see what happens.

-chuck22b

[Niners fan]

Originally Posted by bchris02

The Saudis held their summit and announced an increase in production of 800,000 bpd and a capacity increase within a year of almost 2 million bpd. Its quite a substantial increase. You would think this news would put pressure on prices, right? Wrong! Speculators have already found excuses to continue to drive prices up, mostly Nigeria and Israel/Iran tensions. $140 oil is certain either Monday or Tuesday and $150 by the end of the week or the beginning of next.

Originally Posted by bchris02

Crossed $142 today. We will defintaly go over $145-147 by the end of the day. $160 by July 4th. I say $200-250 by the end of the summer. Its time to start stocking up on food and getting into survival mode.

Well, it crossed $142 then settled down at $140 for the week rather than $150. Didn't even get close to $145 for the day. Guess it's not as certain as you thought. It must get old being constantly so pessimistic.

[travelmate38]

Originally Posted by Niners fan

Well, it crossed $142 then settled down at $140 for the week rather than $150. Didn't even get close to $145 for the day. Guess it's not as certain as you thought. It must get old being constantly so pessimistic.

Oil will spike next week. I don't know if it hits $150 by July 4th, but I would guess it will come very close. $5 a gallon will be seen by August for sure. It is already in the cards.