Whats going on w/ the price of gas...

[GrilledSteezeSandwich]

I always thought there was an overabundance in food..

What about Hemp as a fuel source

 

[ctenidae]

I always thought there was an overabundance in food..

What about Hemp as a fuel source

Hemp's a pretty good oil crop.
Good for rope and textiles, too.

Hemp-wearing biodiesel-hybrid driving hippy longshoremen would be pretty annoyingly smug, though.

 

[jack97]

Hemp's a pretty good oil crop.
Good for rope and textiles, too.

Hemp-wearing biodiesel-hybrid driving hippy longshoremen would be pretty annoyingly smug, though.

As well as existing bio fuel, they have to solve the distribution issue, existing pipelines can not distribute this. Even if they did, imagine all the hippies tapping off the supply line.

 

[ctenidae]

As well as existing bio fuel, they have to solve the distribution issue, existing pipelines can not distribute this. Even if they did, imagine all the hippies tapping off the supply line.

Thieving hippies. Fortunately, patchouli detectors are relatively cheap, and very effective.

Biodiesel actually can be shipped via existing pipelines. Scheduling is a big problem, though, since the quantities produced don't often constitute a full "order," and it has to be sandwiched between bolts of regular diesel. Fortunately, and I think this will become more and more important, biodiesel can be locally produced, eliminating much of the need for long-distance transport. Algal biodiesel, for instance, can be produced in viable quantities on relatively small parcels of land, making it possible to have plants sattered around, very close to distribution. Plant-based biodiesel, though, runs into some of the same problems as ethanol, since it requires the conversion of cropland to fuel production, and that's a problem.

 

[deadheadskier]

I always thought there was an overabundance in food..

Have you missed the Sally Struthers commercials that have aired for the past twenty years?

 

[GrilledSteezeSandwich]

Have you missed the Sally Struthers commercials that have aired for the past twenty years?

Yeah but there's plenty of food in the world..it's just that those areas are too arid for good farming, too poor to buy food, and their governments are so corrupt that even food donations usually don't make it to the people. BTW Sally Struthers was way hotter in All in the Family...she and Meathead Rob Reiner ate enough food for an African village..

 

[twinplanx]

WOW... Some good information there. ckofer post was especially informative. (if some what dated)
And to think I really just started this thread because the current situation has become a major factor in deciding to head to Tux's this weekend.

 

[ckofer]

Where's the price of oil headed? By JOHN PORRETTO

The Associated Press

HOUSTON – Oil's meteoric rise to near $120 a barrel looks like more than just another economic bubble – growing demand and tighter supplies are likely to keep prices high. Some analysts say even $200 a barrel would not be out of the question.

The latest price surge – pushing crude to record heights in recent weeks, and to nearly double its level a year ago – has some key components of a classic bubble, when market prices climb far above their intrinsic value. The burst comes when investors realize the assets are overvalued.

But growing worldwide thirst for crude, in large part from the rapidly developing economies of China and India, means frustrated consumers probably won't get any relief.

"We can do our homework, but prices are going to go where they want to go at this point," said Jeff Spittel, an analyst at investment bank Natixis Bleichroeder Inc.

Americans who hoped to ride out temporarily high prices by carpooling or driving less may have to make those habits permanent. And because of the premium prices, oil companies may be willing to search out more oil in places they previously couldn't afford to explore.

Oil came close to $120 a barrel Friday on news that a ship under contract to the U.S. Defense Department fired warning shots at two Iranian boats in the Persian Gulf. The markets were also weighing the effects of a pipeline attack in Nigeria and a looming refinery strike in Scotland.

Retail gas prices, which at times rise in tandem with crude oil, moved further into record territory near $3.60 a gallon.

The Organization of Petroleum Exporting Countries – which supplies about 40 percent of the world's crude – insists it's supplying more than enough oil.

Instead, many observers blame speculative traders for bidding up the price as a hedge against inflation and as protection from the sinking U.S. dollar. Some see that as evidence of a bubble.

It's also becoming harder and more expensive for oil companies to find and tap new petroleum reserves – a troublesome scenario given forecasts that the world's energy needs will escalate by more than 50 percent in the next two decades.

Toss in the weak dollar and political instability in some oil-producing countries, and it seems unlikely that oil will fall below $100 a barrel anytime soon, if ever.

Widely watched oil price prognosticator Goldman Sachs has said oil could average $110 a barrel by 2010, up from a previous forecast of $80, and that a spike as high as $200 a barrel is possible in a case of major supply disruption.

Supply is at the heart of soaring prices, said John Moroney, a Texas A&M economics professor who just finished a book on energy production and consumption. He cites production declines in Mexico, an unstable oil industry in Venezuela and possible shrinking production capacity in the Middle East.

"I don't buy the bubble theory," he said.

Many analysts believe the weakness of the dollar is a bigger factor than supply and demand because the soft dollar draws investors worried about inflation into commodities such as oil and gold.

It also makes commodities less expensive for buyers operating in other currencies. Many investors see the dollar only heading lower if the Federal Reserve keeps cutting interest rates, which most analysts expect it to do.

Some market-watchers say oil will probably keep rising until demand falls off, which they describe as the market's way of finding fair value for the commodity. For oil, some estimate that price as low as $60 or $70 a barrel.

"The fundamentals don't justify anywhere near these prices, even when you factor in geopolitical problems," said Michael Lynch, president of Strategic Energy & Economic Research Inc. in Cambridge, Mass.

He expects prices to fall as low as $80 this year and perhaps as low as $50 in the next three or four years as more global supply comes on line.

Demand already has begun to wane in the U.S., where fuel prices are causing turmoil in an economy already saddled with recession fears, a housing and credit crisis, and dismal retail sales.

Drivers have begun to cut back on gasoline consumption. Some people have taken to riding bikes to work or organizing car pools. The sale of gas-electric hybrid vehicles is up. Larger trucks and SUVs are selling slowly.

It's unclear how much a drop in oil prices could reduce gas prices. The prices don't always move together because they are subject to separate supply and demand forces. While oil prices have risen 80 percent in a year, gas prices climbed only 24 percent.

 

[GrilledSteezeSandwich]

Two days ago I filled up for $3.55 and it was $47 for a full tank in my Impreza..pretty soon only the very wealthy will drive SUVs..today I think I'd have to drive to Jersey to find gas under $3.60..I can definitely see high gas prices hurting the ski areas..especially when it hits $5+ in the next few years..

 

[deadheadskier]

I paid over $4 per gallon for the first time at the pump in Kittery, Maine ... I am expecting before the summer is out to pay over $5 per gallon ...

I'm assuming that's Super Pemium correct? I just filled up in Durham, NH for $3.41.

 

[deadheadskier]

Yeah .. I will have to start getting my in NH.. regular was over $4 too. Kittery runs higher because there is only one place to gas up in town.

Are you serious?? That's total gouging. This most expensive place to fill up in Southern Maine is almost always at the Kennebunk Travel Plaza where I think today it was $3.60 something for regular and that's full service.

If I was a Kittery resident, I'd give the owner of that station hell. I thought $4 + was reserved for deisel and California right now

 

[ckofer]

I agree with you on this one but the place tends to be be about 2 to 3 weeks ahead of everyone else when it comes to price increases. My tank was down and it was cheaper to buy the gas than take a chance on the fuel pump.

Was it at least full serve?

 

[ALLSKIING]

The best price for reg I can find on LI is 3.79...Most of the stations are 3.89.:-x

 

[ComeBackMudPuddles]

Something to add fuel to the fire (aa a haahhh ah ahaha....yes, pun intended):

"Overcharged: Pumps Cheat Drivers"

:angry:

 

[twinplanx]

Where's the price of oil headed? By JOHN PORRETTO

The Associated Press

HOUSTON – Oil's meteoric rise to near $120 a barrel looks like more than just another economic bubble – growing demand and tighter supplies are likely to keep prices high. Some analysts say even $200 a barrel would not be out of the question.

The latest price surge – pushing crude to record heights in recent weeks, and to nearly double its level a year ago – has some key components of a classic bubble, when market prices climb far above their intrinsic value. The burst comes when investors realize the assets are overvalued.

But growing worldwide thirst for crude, in large part from the rapidly developing economies of China and India, means frustrated consumers probably won't get any relief.

"We can do our homework, but prices are going to go where they want to go at this point," said Jeff Spittel, an analyst at investment bank Natixis Bleichroeder Inc.

Americans who hoped to ride out temporarily high prices by carpooling or driving less may have to make those habits permanent. And because of the premium prices, oil companies may be willing to search out more oil in places they previously couldn't afford to explore.

Oil came close to $120 a barrel Friday on news that a ship under contract to the U.S. Defense Department fired warning shots at two Iranian boats in the Persian Gulf. The markets were also weighing the effects of a pipeline attack in Nigeria and a looming refinery strike in Scotland.

Retail gas prices, which at times rise in tandem with crude oil, moved further into record territory near $3.60 a gallon.

The Organization of Petroleum Exporting Countries – which supplies about 40 percent of the world's crude – insists it's supplying more than enough oil.

Instead, many observers blame speculative traders for bidding up the price as a hedge against inflation and as protection from the sinking U.S. dollar. Some see that as evidence of a bubble.

It's also becoming harder and more expensive for oil companies to find and tap new petroleum reserves – a troublesome scenario given forecasts that the world's energy needs will escalate by more than 50 percent in the next two decades.

Toss in the weak dollar and political instability in some oil-producing countries, and it seems unlikely that oil will fall below $100 a barrel anytime soon, if ever.

Widely watched oil price prognosticator Goldman Sachs has said oil could average $110 a barrel by 2010, up from a previous forecast of $80, and that a spike as high as $200 a barrel is possible in a case of major supply disruption.

Supply is at the heart of soaring prices, said John Moroney, a Texas A&M economics professor who just finished a book on energy production and consumption. He cites production declines in Mexico, an unstable oil industry in Venezuela and possible shrinking production capacity in the Middle East.

"I don't buy the bubble theory," he said.

Many analysts believe the weakness of the dollar is a bigger factor than supply and demand because the soft dollar draws investors worried about inflation into commodities such as oil and gold.

It also makes commodities less expensive for buyers operating in other currencies. Many investors see the dollar only heading lower if the Federal Reserve keeps cutting interest rates, which most analysts expect it to do.

Some market-watchers say oil will probably keep rising until demand falls off, which they describe as the market's way of finding fair value for the commodity. For oil, some estimate that price as low as $60 or $70 a barrel.

"The fundamentals don't justify anywhere near these prices, even when you factor in geopolitical problems," said Michael Lynch, president of Strategic Energy & Economic Research Inc. in Cambridge, Mass.

He expects prices to fall as low as $80 this year and perhaps as low as $50 in the next three or four years as more global supply comes on line.

Demand already has begun to wane in the U.S., where fuel prices are causing turmoil in an economy already saddled with recession fears, a housing and credit crisis, and dismal retail sales.

Drivers have begun to cut back on gasoline consumption. Some people have taken to riding bikes to work or organizing car pools. The sale of gas-electric hybrid vehicles is up. Larger trucks and SUVs are selling slowly.

It's unclear how much a drop in oil prices could reduce gas prices. The prices don't always move together because they are subject to separate supply and demand forces. While oil prices have risen 80 percent in a year, gas prices climbed only 24 percent.

Oh looks like I have to take back what I said about that information being dated:blink:

 

[SKIQUATTRO]

we got rid of our truck before xmas, would be over $100 to fill now....the Volvo XC70 is good on gas, not great, but better than the truck...my Audi takes Prem gas which is $3.99/gal now....been riding my bike more to work and being more careful on useless trips...

 

[GrilledSteezeSandwich]

For people who ride their bikes to work to save gas...what are you saving..like a buck or two a day???

 

[ctenidae]

For people who ride their bikes to work to save gas...what are you saving..like a buck or two a day???

Depending on the car and driving, could be $100 a week, really.
Plus, they're in better shape, saving the cost of a gym membership, doctors visits, and such.
Except for the occasional emergency room visit for a vehicle smackdown event.

 

[SKIQUATTRO]

Riding more because:
-I enjoy it
-I am training for a Half Ironman and need to get my training rides in anyway
-I care about this earth and want to do my share to make sure my kids have a great life
-I rode when gas was $.99/gallon
-why not ride?? Keeps the legs in shape for ski season.

 

[SKIQUATTRO]

even if it was $1.00 a day savings:

$1.00 x 5 work days = $5.00/wk savings...$20.00/mo.... over 9 months when there is no snow, thats a $180.00 savings...thats a few ski days if you ask me....