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Im not so much worried about how high gas will go as I have already cut back my driving drastically by taking the metra to and from work, but am worried about what effect the cost of oil will have on our food prices as it takes LOTS of oil to grow and ship our food, and that I cant cut back on as much.
Im not so much worried about how high gas will go as I have already cut back my driving drastically by taking the metra to and from work, but am worried about what effect the cost of oil will have on our food prices as it takes LOTS of oil to grow and ship our food, and that I cant cut back on as much.
Besides food think of all the other "imported" stuff that will go sky high in price or simply not be imported.
Can you imagine Walmart with 80% of their shelves empty ?
Sure, but the reality is we are loooooooong way from replacing oil, so lets not create a self imposed energy crisis, by all sitting around bemoaning the evil's of oil and those who provide it for us , while dreaming of all these phony, wonderful alternatives that are bogus at best and dangerous to our economy and national security!
Yes we certainly are a long way from replacing oil, but in 1960 we were a long way from the moon too. I'm only suggesting that it would be prudent to invest today for the coming inevitability, as much as I enjoy rural self sufficient lifestyle, I don't wish to return to horses and buggies.
I'm curious to how developing a variety of alternatives is detrimental to national security. Considering where we have to go to purchase much of our oil today, we couldn't find a place on the earth that is more threatening to our national security nor is there anything more threatening to our national security than relying so heavily upon a single source of dwindling energy.
Where do you propose we get all this oil and gas from?
How will you adjust to $7 gas, as Goldman Sachs is saying possible by the end of the year? Will there be complete economic collapse? I have a bad feeling the doom and gloom crowd is correct and life as we know it is about to end, sooner rather than later. I don't think our economy could handle $7 gas.
How soon will it be before we hold this those responsible for this mess responsible?
I don't know, but every time I look at one of these big-ass SUV drivers in the parking lot, I just smile. Stupid people.
Im not so much worried about how high gas will go as I have already cut back my driving drastically by taking the metra to and from work, but am worried about what effect the cost of oil will have on our food prices as it takes LOTS of oil to grow and ship our food, and that I cant cut back on as much.
How will you adjust to $7 gas, as Goldman Sachs is saying possible by the end of the year? Will there be complete economic collapse? I have a bad feeling the doom and gloom crowd is correct and life as we know it is about to end, sooner rather than later. I don't think our economy could handle $7 gas.
How soon will it be before we hold this those responsible for this mess responsible?
IF it really gets to $7/gal, yes, we will all be up a creek. I'm of the opinion that it will top out around $4 and we'll all have to seriously cut back on things but we'll make it for a while longer. The thing is, even this inelastic commodity can't keep going up before demand collapses. It will reach a price point where even cheap Chinese and Indian infrastructure and labor costs can't offset the energy cost and productivity will grind to a halt. Whatever price point that is will cause a precipitous drop in demand for oil and a resultant precipitous drop in price. Is it possible that all these speculating investors who are helping drive the price up setting themselves up for an oil bubble???
IF it really gets to $7/gal, yes, we will all be up a creek. I'm of the opinion that it will top out around $4 and we'll all have to seriously cut back on things but we'll make it for a while longer. The thing is, even this inelastic commodity can't keep going up before demand collapses. It will reach a price point where even cheap Chinese and Indian infrastructure and labor costs can't offset the energy cost and productivity will grind to a halt. Whatever price point that is will cause a precipitous drop in demand for oil and a resultant precipitous drop in price. Is it possible that all these speculating investors who are helping drive the price up setting themselves up for an oil bubble???
Top out at $4 ? We haven't even hit the summer travel season yet and it's almost there already with no signs of retreating. The average is $3.69 today (gasbuddy.com)..that's only $.31 cents more for your prediction.
Commodity speculation doesn't look like it's ebbing either.
Top out at $4 ? We haven't even hit the summer travel season yet and it's almost there already with no signs of retreating. The average is $3.69 today (gasbuddy.com)..that's only $.31 cents more for your prediction.
Commodity speculation doesn't look like it's ebbing either.
Hey like I said, just my opinion. And of course, commodity speculation won't end until the bubble bursts. It may drive the price way past my utter speculation. And I have no idea what price/barrel might result in all the sweatshops in Asia shutting down but if that point is reached then I think we can all agree that at least temporarily, demand will plummet.
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