Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
We must wonder how the oil clean up will effect pump prices. The actual market price may hover under 3.00, but look for a 1.00 tax to clean up the mess.( shared by everyone). The disaster is behond BP....its now all ours, regardless who " pays" for the spill on paper.
We've been hearing about an "impending war" with Iran for close to 20 years now.
Not in the degree it has been in the last couple yrs.
This is troubling. For the first time, i'm truly not sure if our ships are in motion for us, or against us. It wouldn't surprise me in the least, if this sleeper cell President isn't mobilizing in order to defend Iran against Israel.
I hope Hussein Obama is on our team. If not Israel (in the words of the Irish King in Braveheart) is Fooked.
We must wonder how the oil clean up will effect pump prices. The actual market price may hover under 3.00, but look for a 1.00 tax to clean up the mess.( shared by everyone). The disaster is behond BP....its now all ours, regardless who " pays" for the spill on paper.
BP has billions of dollars in Insurance, it is a multi billion dollar company, it's holdings are in the hundreds of billions, and there are a dozen other corporations that had a hand in the mess. The lawyers are going to clean up.
BP has billions of dollars in Insurance, it is a multi billion dollar company, it's holdings are in the hundreds of billions, and there are a dozen other corporations that had a hand in the mess. The lawyers are going to clean up.
Here is the way it will work. BP has a lot of cash, right , but the Industry is still driven by measured risk. The open ended promise that BP has made already, and the pay-outs already, has established a new threshold. Its not just BP , its all the others that are drilling in the Gulf. The insurance cost will become unfordable. Deep water drilling will stop, not because of BP , but really because of how BP has handled and will handle the problem. The wild card here always is the Government. There will be new tech coming that will make off shore drilling " safer" , and we the public will pay for it.
The legal stuff will sort itself out, but it takes time, lots of time. say 30 years short term. Lifting the Liability cap should be a part of the clean-up and loss of income for the businesses on the Gulf.
I don't think gas prices will rise that rapidly by end of 2010 to $4.00/gallon...but the price will rise-- seven years ago we were paying $1.30/gallon in our town in North Carolina. Today, we're paying $2.78/gallon. So the price has more than doubled in seven years.
How about the gouging the gov't does? 59cents/gal. in tax? 24% based on 2.50/gal.
Oh, it's way more than that. Every dollar you spend on gas...probably 50 cents winds up back in the pocket of the government.
Remember, they also tax the oil upon import or other mineral rights, the salaries of the workers along the way, the corporate profits and so on and so forth.
Had a thread about that over a year ago where i pointed out the outrage over someone like Exxon making 20-30cents profit on a gallon of gas where the govt. was gettting 3-4x that in taxes....and then the congress was *grilling* the oil company executives because they were looking out for the little guy.
Just like now...the politicians having show trials that most americans are too stupid or partisan to see past.
$4.00 gas is a deal breaker. Low wager earners can't afford to commute to work. School budgets will totally collapse under higher diesel prices (this is the WORST time for that to happen as many districts are $20-100+ million in the hole right now)
Consumers can't afford to drive to the mall when it costs $15 round trip. Higher gas prices will bleed spending from other areas, and of course prices will go higher for goods and services as they impose a fuel surcharge on us.
$15/ gal gas will bury us forever. The damage would be beyond repair. There is NO way the US economy can function with anything near that. We would be in an instant depression with civil unrest and hunger.
If something happens in Iran, that wil be time to crack open the canned food and pray the garden grows. The ripple effect would be like a tsunami. Fuel prices would skyrocket and we would have shortages and rationing. Nobody could afford to get to work, but not to worry because many jobs would disappear instantly. I don't think the JIT transportation system would last either, which means bare shelves at the grocery store. It would be like when a hurricane shuts things down in FL but this would be nationwide.
I don't think gas prices will rise that rapidly by end of 2010 to $4.00/gallon...but the price will rise-- seven years ago we were paying $1.30/gallon in our town in North Carolina. Today, we're paying $2.78/gallon. So the price has more than doubled in seven years.
Subjective selection of the endpoints is ill-advised for calculating a trend.
For example, compared to almost 2 years ago, gas prices are DOWN 35%!
About 5 years ago it was $2.90 a gallon
Oil prices are the leading indicator of gas prices and they've sagged. It's already under $2.50 around me...you probably have higher state taxes.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
