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Old 05-01-2008, 09:04 PM
 
11,127 posts, read 12,685,233 times
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Quote:
Originally Posted by bchris02 View Post
Before the congressional election of 2006 when the price went into free fall speculators were saying gas was going to fall back to 1990s prices. After the election, everything changed and we started this record run that is currently showing no sign of stopping (for now). The bubble will burst, its inevitable. I am not saying we will fall back to 1990s leveld but don't be surprised to see $2.50 again. I think a lot of it depends on the outcome of this election. Don't be surprised to see a major drop off in the months before the election because people forget easily and the powers that be don't want fuel prices to be an election issue.
I was just reading a bloomberg article that was refuting the "oil bubble" notion. It went on to say that due to the falling US dollar, what would normally be a bubble that would pop and return to a lower level will in this case likely sustain. I'm not sure how much the increase in price will cut back the demand the hold the price back, so I guess we all will wait and see.
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Old 05-01-2008, 09:07 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 15,053,596 times
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Quote:
Originally Posted by TnHilltopper View Post
I was just reading a bloomberg article that was refuting the "oil bubble" notion. It went on to say that due to the falling US dollar, what would normally be a bubble that would pop and return to a lower level will in this case likely sustain. I'm not sure how much the increase in price will cut back the demand the hold the price back, so I guess we all will wait and see.

Thats if the dollar keeps falling. Some economists are saying the dollar is due for a rebound in the near future. It already would be if the moronic Fed would stop cutting rates.

And during bubbles many economists think they will sustain. Did we learn anything from the 1990s?
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Old 05-01-2008, 09:16 PM
 
Location: London, KY
718 posts, read 1,455,082 times
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Quote:
Originally Posted by KevK View Post
If you see gasoline hit the $4 a gallon mark, the government will step in and start rationing it and will open the spigots of the Strategic Oil Reserves to both raise supply and cut demand thus forcing the Arabs to cut the prices. They are not going to stand by and take the wrath of angry voters this fall that are gonna be looking to place blame.
However, the long term solution is to drill offshore in the Gulf and to open ANWR for exploration and drilling. Combine that with development of new refineries and we could put a huge dent in foreign oil dependence. Being at the mercy of the OPEC nations is poor strategy on the part of our government.
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Old 05-01-2008, 09:16 PM
 
11,127 posts, read 12,685,233 times
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Quote:
Originally Posted by bchris02 View Post
Thats if the dollar keeps falling. Some economists are saying the dollar is due for a rebound in the near future. It already would be if the moronic Fed would stop cutting rates.

And during bubbles many economists think they will sustain. Did we learn anything from the 1990s?
I don't think the Fed has much choice but to continue cutting rates in order to sustain the credit markets. It is a damned if you do, damned if you don't situation.

The fact that we are now seeing the Gulf States removing their peg to the US dollar (which is huge) and many nations dumping US dollars or at least retracting and offsetting with basket currencies, that we haven't yet seen the bottom of the dollar plunge.
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Old 05-01-2008, 09:19 PM
 
1,486 posts, read 4,029,609 times
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Originally Posted by Pawporri View Post
Mr. Doom and Gloom.........Get real..........
Thank you. Thank you so much for pointing out the attitude that has got us into this problem.

This is why we are at where we are right now. Humans generally have no idea they are in trouble until it is too late. It's the whole concept of invincibility; in many ways we still act like we are 16 years old all over again.

And yet Americans seem to be especially adroit at this. Many Americans go to places like Germany and marvel at the transportation system. They credit it to the fact that they are "old" cities and that the systems have been around forever. Of course what they don't know is that many of the systems were built only about 30 years ago. Munich, which has one of the best subway systems in the world, built their's in the 1970's.

What were we building in the 1970's? Highways, highways, and more highways. With the Middle East oil crisis and shortages, countries like Japan started investing in high speed rail lines. What did we do? We built more highways.

People complain about high gas prices and blame the oil companies. But you know what? If you want the real person to blame in this whole thing, look in the mirror America.
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Old 05-01-2008, 09:21 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 15,053,596 times
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Originally Posted by rbryant View Post
However, the long term solution is to drill offshore in the Gulf and to open ANWR for exploration and drilling. Combine that with development of new refineries and we could put a huge dent in foreign oil dependence. Being at the mercy of the OPEC nations is poor strategy on the part of our government.
I agree with what Glenn Beck says here, ANWR should have been drilled decades ago. Doing it now would be like stopping for the bathroom on the way to the electric chair. The long term solution is alternative energy sources.
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Old 05-01-2008, 09:53 PM
 
Location: London, KY
718 posts, read 1,455,082 times
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Quote:
Originally Posted by bchris02 View Post
I agree with what Glenn Beck says here, ANWR should have been drilled decades ago. Doing it now would be like stopping for the bathroom on the way to the electric chair. The long term solution is alternative energy sources.
Alternative energy sources? The only reliable alternative is a electrical hybrid, but highway mileage is not drastically better than my toyota camry. Ethanol is a joke, turning food into fuel..enough said. The only long term hope is hydrogen fuel cells, but storing the hydrogen is proving to be a roadblock right now. Realize that we are, at best, a decade or longer away from hydrogen fueled vehicles. So, in the meantime, why not drill in ANWR?
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Old 05-01-2008, 10:04 PM
 
11,127 posts, read 12,685,233 times
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While this is a bit of a radical version of one way to help offset the cost of oil petroleum use, there are others less sophisticated that will also suffice. Keep in mind the average distance a typical work commuter travels is like 23 miles a day.

Aptera (http://www.aptera.com/details.php - broken link)

If they were in production, I would own one tomorrow.
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Old 05-01-2008, 10:57 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 15,053,596 times
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Quote:
Originally Posted by TnHilltopper View Post
While this is a bit of a radical version of one way to help offset the cost of oil petroleum use, there are others less sophisticated that will also suffice. Keep in mind the average distance a typical work commuter travels is like 23 miles a day.

Aptera (http://www.aptera.com/details.php - broken link)

If they were in production, I would own one tomorrow.
Ive seen that. It will be a hard sell though. People are not going to want to give up their SUVs for an ultra-small vehicle like that.
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Old 05-02-2008, 07:59 AM
 
Location: Omaha Ne
70 posts, read 101,260 times
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Quote:
Originally Posted by rbryant View Post
Alternative energy sources? The only reliable alternative is a electrical hybrid, but highway mileage is not drastically better than my toyota camry. Ethanol is a joke, turning food into fuel..enough said. The only long term hope is hydrogen fuel cells, but storing the hydrogen is proving to be a roadblock right now. Realize that we are, at best, a decade or longer away from hydrogen fueled vehicles. So, in the meantime, why not drill in ANWR?
That is only a temporary solution that just keeps big oil in charge. So when that ANWR oil runs out then we will back in the same situation we are in now. There are other ways to make ethanol. I think its Brazil that uses sugar which is 5 times more efficient for making Ethanol than corn is. And they are totally energy independent. Not to mention the switch grass, and other plant residues that they are working on. The hole point is to get off of oil period. Granted that would take a lot more than just changing the fuel that goes in our cars, but its start.
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