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Why oil could hit $180 a barrel From MSN Money

14K views 195 replies 31 participants last post by  JJEMMER777  
#1 ·
#8 ·
Not to play the role of Captain Obvious here, but the quickest way to fix the economy would be to get gas prices reasonable.

Before the thread goes there, I dont care about prices in other countries, and my car wont run on Starbucks, so comparing jerk offs spending $5 for a cup of coffee to gas prices doesnt make any damn sense.
 
#9 ·
Gas prices are causing everything to go up. Food prices are climbing very quickly. There have been riots across the globe over rising food costs. I don't even want to get started, so I will just be a casual observer :)
 
#16 ·
The quickest way to fix it would be to outlaw petroleum based fuel in the united states completely.

It makes perfect sense as petroleum based fuel is A. bad for the environment and B. dwindling rapidly.

I expect everyone would flip out and be screwed over for 6 months to a year, and then scientists would miraculously produce some new fuel based on hydrogen or water or algae or solar power.... oh wait all of those already exist, and then life would return to normal.

The balance of power would shift in the middle east, as middle eastern oil barons would no longer hold the biggest bargaining chip on the planet, which would force islamic militants to play nice.....

Oh wait, I'm talking like a revolutionary... back to bed I go.
 
#17 ·
An even quicker fix would be to give everyone magic wands. Maybe flying carpets. I mean as long as we are pulling sht out our asses, why not.

Maybe we could go back to horse drawn buggies, but then the hot breathe of the tired horses might increase the Earth's temperature and cause global catastrophy, fear-mongereing and crappy, inaccurate movies by former vice presidents.
 
#25 ·
Maybe we could go back to horse drawn buggies, but then the hot breathe of the tired horses might increase the Earth's temperature and cause global catastrophy, fear-mongereing and crappy, inaccurate movies by former vice presidents.
And they cr*p everywhere too 8O

Makes me laugh when people say they use the train and it's electric!!!!! They think it's a clean source as they can't see the huge polluting power stations pumping out their waste to generate the electricity!!!!!
 
#18 ·
My car gets anywhere from 24 to 34 MPG. Not bad for a almost 300 HP car. BTW its an Acura TL 04 standard tran. Most likely my next car will be the toyota prius. I am going to do anything I can do to avoid this upcoming pain.
 
#19 ·
300HP car gets 24MPG? That's BS MPG then. My hybrid Camry gets 30-31 in town and I have to drive very carefully to get to even that number. One neat feature on it is that it has a realtime MPG meter. So when you "step on it" you immediately see that your MPG goes waaay down, like to 10-15MPG or so. I bet it's even worse with your Acura since there's no electric motor to help out the gas motor and the gas motor is not running in the more fuel efficient Atkinson cycle.

Do a simple experiment. Refuel your car immediately when the light comes on and write down the fuel volume and odometer reading. Next time the light comes on, subtract the old mileage reading from the new one and divide by the amount of fuel. You will get as precise MPG number as you can. See if that number matches what your Acura reports on the dashboard.
 
#35 ·
300HP car gets 24MPG? That's BS MPG then. My hybrid Camry gets 30-31 in town and I have to drive very carefully to get to even that number. One neat feature on it is that it has a realtime MPG meter. So when you "step on it" you immediately see that your MPG goes waaay down, like to 10-15MPG or so. I bet it's even worse with your Acura since there's no electric motor to help out the gas motor and the gas motor is not running in the more fuel efficient Atkinson cycle.

Do a simple experiment. Refuel your car immediately when the light comes on and write down the fuel volume and odometer reading. Next time the light comes on, subtract the old mileage reading from the new one and divide by the amount of fuel. You will get as precise MPG number as you can. See if that number matches what your Acura reports on the dashboard.
Tell you what I try to prove it. I take a pic of the miles before and after I fill up again and the receipt as well.

Note I did change the plugs to iridium in my car. http://www.densoiridium.com/ and feel it makes a big difference. Also use K&N filter.

Not knowing your car's year I cant compair it its where it should be.

When I bought my car its MPG went down few months later do to bad code and forced Honda to fess up that they new about this issue. They made a car payment for my lost in paying more for gas then I had too. So I make sure your car is working in normal range.
 
#21 ·
it would be one thing if the typical american city were laid out different. They were built around roads and the use of cars. they aren't always walk or bike friendly. we also seriously lack the public transportation systems that our european counterparts have readily availible.

europeans pay around 7.50 usd (current price in the UK) for a gallon of gas now and they have always paid more.

i think it is almost a good thing gas gets higher because for so long the oil companies have been able to fend off compeition from alternative sources of energy. If gas is high people will want more research into alternatives and it makes alternatives more cost competitive. The car and oil have really held technology back in America and so i think this is the beginning of the GRADUAL search and switch to alternative energy.
 
#23 ·
Capitolism runnin wild brotha!
Image

What we need is balance. Greedy corporations trying to make a buck and a Gov't that actually looks out for the best interest of the little guy.
I know it will never happen but that would be the best scenario.
 
#24 ·
Part of the problem is the sinking dollar. I believe Rich pointed out that's why the Ibanez lists are going up so quickly. Everytime the Fed lowers the interest rate, the dollar weakens, and oil goes up. Also, farmers are being paid to grow corn for ethanol, so they aren't producing as many of the other crops they had been. Further, most American's don't live within their means, and have loads of debt. This money will probably never be collected, and it's being listed as an asset in the companies owed. I'm not an economist, though, so take this with a grain of salt...
 
#27 ·
it doesn't seem like the "government" cares. too busy paying for a war we will never win? what is it now? a billion a day? 3 billion a week? last night Bush said with that stupid grin, we are not in a recession. yeah pal, nice...your hands are in the oil industry and your account is large. we're dyin' over here! many people out of work! no one is spending as much and companies are slow to hire. multiple weekly foreclosures. and what's the deal with this $600 check we are supposed to get. that was announced quite awhile ago....what's the delay! that won't fix anything. people will sock that away for when they're really in trouble...that should get me 12 fillups at the pump...how sad is that! i know over time prices go up but nothing compares to gas prices. they have multiplied more than anything else, in the last 5 - 10 years alone! a few friends of mine are in banking and loans and they are scrambling for work. new home building is close to zilch. i also saw on the news that the foreclosed homes in chicago, which are vacant, are being used for meeting places for drug deals and gangs. and, there isn't the money to beef up the police force, so that is another huge issue. it's all a domino effect.

i agree in that you can start to fix the large issue by fixing the gas pricing! just do it. granted, i don't know all that's involved, but it doesn't seem too hard. companies buying companies every other week and outsourcing still on the rise. nothing surprises me anymore when i turn on the news each night. i don't know who i'm voting for but anything has to be better than this. help should start at home! as i said before, one day they will turn around and wonder why we're a 3rd world country.
 
#29 ·
What's all this talk about high gas prices? Doesn't make any difference in my life. Neither does it have to in yours.

I have always chosen to live close to my university or my work and ride a bike as often as I can (without being a COMPLETE hypocrite-- I do own a car).

A bicycle is the most efficient transportation machine invented. Cycling is fun, healthy, non-lethal, fast, efficient, and totally FREE.

I fill my tank about once a month.
 
#31 ·
What's all this talk about high gas prices? Doesn't make any difference in my life. Neither does it have to in yours.

I have always chosen to live close to my university or my work and ride a bike as often as I can (without being a COMPLETE hypocrite-- I do own a car).

A bicycle is the most efficient transportation machine invented. Cycling is fun, healthy, non-lethal, fast, efficient, and totally FREE.

I fill my tank about once a month.
I ride my bike to work most days of the week. The problem is the cost of oil isn't driving up gas alone. It's driving up food as well. (which drives up other costs)
 
#30 ·
This is simply the price of the western world controlling oil in the middle east.

Said another way, the high prices are not just because of company greed, we are funding the war. It costs like what? a Billion dollars a month or something like that to have troops over there and "safeguarding" oil supply ...cough..cough..um..sorry... middle eastern civilians against terrorists and corrupt dictators.... yeh protect the civilians...thats what we're supposed to say right?
 
#33 ·
It costs me ÂŁ60 to fill my car up (empty tank to full - close to $120). 10 years ago it would've been ÂŁ20.

I can't work out the price rise. People say were in Iraq for the oil, but I would've thought the point would've been to control the oil in Iraq to keep the price low back home? That's clearly not happened.

And why are food prices rising? Well, lots of foods contain some form of corn, be it oil based or whatever, but the new biofuels also use corn so the cost of corn has risen because demand from new biofuel producers has increased but supply hasn't.

If you've got some money to spare, invest in corn production, it's the way to go.
 
#34 ·
I would've thought the point would've been to control the oil in Iraq to keep the price low back home?
Now switch positions a little and imagine you have quite a bit of investment in Big Oil (like Dubya and Cheney). Wouldn't it be nice if you could pump cheap oil in Iraq and sell it here for an arm and a leg? Sure would.

Personally, I could tolerate if gas cost four times as much. I would not like it if food cost three times as much though, since it's already pretty expensive, particularly considering the quality.
 
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