Mass market gas price hysteria- $12 a gallon gas

[Moe Ghoul]

Now that the headlines are blaring "America's oil crisis" and the gurus are yelling 12/gal, a nice correction is prolly in the works. If they can shut down the Enron loophole, ICE OTC trades, and ramp up margin requirements on oil futures, that might take some of the steam outta the recent move short term. Long term it won't do diddly until we see serious demand destruction. Today's congressional bill seemed to have some impact.

http://www.iht.com/articles/2008/05/21/business/commod.php

 

[Warp Daddy]

Moe i totally agree --attack it from the demand perspective with legislation that penalizes vehicle size , excess consumption as a result of Horsepower , vehicle weight etc , while ratcheting up alternatives as the vehicle to sustain ultimate conversion to alternatives .

Excess profit may need be taxed to help support REAL development with Specific MEASUREABLE National Goals/Timetables to acellerate progess-- not talking here about leaving this up to the multi-national oil corps to "say' they are doing it but lets get some $$ Teeth behind the effort

 

[riverc0il]

I'm venting here but ,if we can't ratchet up our technological intellect and the intellectual and financial capital to rationally and systematicall deliver BETTER results on alternatives - it may be time to seriously consider nationalizing the Greed hog oil corps C'mon guys alternatives are no longer a debate its time @ $6 /gal to FIND A SOLUTION NOW

Higher prices make alternatives affordable. There are already alternatives, they are just not cost efficient. With supply and demand the way they are, gas prices reaching those levels is certainly not out of the question.

 

[deadheadskier]

Wonder if hybrid 18 wheelers are in the works. Its the cost ramifications to goods that I am most concerned with, not individual needs for transport.

 

[Moe Ghoul]

I'm against windfall profit tax, nobody cried when the majors had slim profits for years. Bailing out Bear Stearns, foreclosures, banks, the list goes on is complete BS. Let the markets clean out the driftwood and discover real prices. If there was predatory lending practices, fraud, etc. class action lawyers or individual civil suits are the better remedy. Having the taxpayer bail out excesses rewards bad risk taking and bad decisions.

 

[Warp Daddy]

The Kenworth T270 Class 6 hybrid-electric truck features the Paccar PS-6 diesel engine. It's got a motor/generator working with the transmission and a 340-volt battery to allow the truck to get help from electricity when traveling at speeds below 30MPH.

That improves fuel efficiency by 30 percent,

 

[GrilledSteezeSandwich]

I just filled up at a Hess station in NH for $3.67 ..... felt like I won the lottery :lol:
.

Speaking of Hess..the Hess station in my neighborhood is still $3.75 and each pump had 2-3 cars in line a few minutes ago..

 

[GrilledSteezeSandwich]

Cross the river.

Well from where I live that would involve almost 2 gallons of gas round-trip and 50 minutes..no thanks..How much are you paying in the garden state???

 

[andyzee]

Well from where I live that would involve almost 2 gallons of gas round-trip and 50 minutes..no thanks..How much are you paying in the garden state???

Hard to say, every time I step outside, the price has gone up from the previous day. But you know we got the best prices around

 

[andyzee]

For pricing
http://www.newjerseygasprices.com/i...eas&tme_limit=24&site=NewJersey&srch=0&list=0

 

[snoseek]

Seiously, if your driving an inefficient consider unloading it now as it will be worth less in the future-just a guess. Didn't anyone see this coming? WTF I'm still rooting for higher fuel prices for many reasons. People have written so much about this for so many years, it's all slowly unfolding almost like clockwork. The potential i think is pretty scary, action needs to be taken now.

I do think at some point it could become overvalued due to media and public hysteria, just not yet.

 

[Warp Daddy]

Sent letters to the NYS delegation in Congress last nite --probably a waste of time but made me FEEL better .

 

[ctenidae]

I'm against windfall profit tax, nobody cried when the majors had slim profits for years. Bailing out Bear Stearns, foreclosures, banks, the list goes on is complete BS. Let the markets clean out the driftwood and discover real prices. If there was predatory lending practices, fraud, etc. class action lawyers or individual civil suits are the better remedy. Having the taxpayer bail out excesses rewards bad risk taking and bad decisions.

Agree for the most part, except for bailing out Bear Stearns being BS. Highly, highly needed to maintain stability in the financial system. Yes, they amde bad bets, but if they'd gone under suddenly, all of the trades they're counterparty to would have blown up, they (were) one of the top prime brokers, so that would have been a major blow to all investors (many, many of whome are 401(k) plans and the like. Just letting Bear blow up would have been disasterous, at best.

 

[deadheadskier]

Sent letters to the NYS delegation in Congress last nite --probably a waste of time but made me FEEL better .

Curious what you wrote

 

[deadheadskier]

I wonder how bad things need to get before the gov't starts re-thinking how much $$$ their spending in the middle-east. The Stimulus plan = $152 billion, next years war spending bill - $165 billion. I'll stay away from how I politically feel about the war, but purely from an economic stand point; we can't afford it. Well, unless you're a stock holder in Haliburton.

 

[Moe Ghoul]

Agree for the most part, except for bailing out Bear Stearns being BS. Highly, highly needed to maintain stability in the financial system. Yes, they amde bad bets, but if they'd gone under suddenly, all of the trades they're counterparty to would have blown up, they (were) one of the top prime brokers, so that would have been a major blow to all investors (many, many of whome are 401(k) plans and the like. Just letting Bear blow up would have been disasterous, at best.

That's how markets work. Putting worthless liabilities on the Feds book (taxpayers shoulders) is only going to exascerbate the blowup as the derivatives tsunami comes crashing down. $456 trillion in derivatives isn't even a real number anymore. Is hyperinflation a better option? Let the counterparties or a consortium of investment banks bail out Bear, they created this garbage, let them bail it out under the gun of criminal prosecution and personal liability if they don't.

 

[ctenidae]

That's how markets work. Putting worthless liabilities on the Feds book (taxpayers shoulders) is only going to exascerbate the blowup as the derivatives tsunami comes crashing down. $456 trillion in derivatives isn't even a real number anymore. Is hyperinflation a better option? Let the counterparties or a consortium of investment banks bail out Bear, they created this garbage, let them bail it out under the gun of criminal prosecution and personal liability if they don't.

Failing for bad bets is one thing, dragging down the rest of the non-derivitaves oriented financial system is something else entirely.

 

[Moe Ghoul]

Failing for bad bets is one thing, dragging down the rest of the non-derivitaves oriented financial system is something else entirely.

I'd rather take my chances jumping out the 3rd floor window than riding the elevator up in a burning building. Let's watch and see if this trainwreck unfolds over time.

 

[deadheadskier]

I tell you one thing, with this oil price madness I am so glad that the condo I am purchasing is as small as the gf and I will be comfortable in for a few years and the heat is electric.

I wonder what kind of population migration away from the Northeast can be expected at these prices when it will cost upwards of five grand to heat an average size house with oil very soon. It will be a real crush on the local economy.

 

[wa-loaf]

I tell you one thing, with this oil price madness I am so glad that the condo I am purchasing is as small as the gf and I will be comfortable in for a few years and the heat is electric.

I wonder what kind of population migration away from the Northeast can be expected at these prices when it will cost upwards of five grand to heat an average size house with oil very soon. It will be a real crush on the local economy.

A year ago I would have called you nuts for getting a place with electric heat.