Gas Prices Finally break the $1

[RC45]

Originally Posted by 5vz-fe We should also blame those SUVs hiking up the demand...... Time to make good use of www.togasprices.com :cry:

NO - you should blame all this effort put into building China into a modern industrialized nation that is suddenly coming of age.

The sleeping giant is awakening - and if you though the USA uses a lot of energy be in for a RUDE surprise.

Soon China will overtake the entire rest of the world combined fuel demand, and because they are "developing" will be far from "clean and alternative".

Their huge fuel demands are going to drive the price of oil to a gazzzzzilllion dollar a fluid ounce...

[MercedeSC32/eSCalade]

oh man, the prices are crazy, but what goes up must come down...i'm stuck fillin up ultra 94 at sunoco, and toronto, you know how much it costs...kinda sux though...less drinkin for me i guess...

[5vz-fe]

As long as US is still the leading oil consumer, I think my blame is still good

http://www.energybulletin.net/4357.html

20.4 million barrels per day vs 6.5 million barrels in 2004

Tho they did point out that the growth of oil consumption is a mare 15% from 94 - 04.

[graywolf624]

im not too worried about it. i used to live in el salvador and it was like 3.50 a gallon so coming to atlanta where its 2.30 right now and around.. its not bad. its so crazy though atlanta, georgia is about 2.40 or 2.42 kennesaw , georgia which is about 30 miles up from atlanta is like 2.10 or 2.19 somtimes its worth it to just drive up for gas. i luckly live inthe middle :p

Buckhead? Dekalb? (lived in buck head for 3 years, downtown for 1, and near emory for a year).



Unfortunately guys, consumption, even the US and china, have absolutely nothing to do with it. There is speculation and price gouging on all levels. First look at a curve of the price per barrel. It took a dramatic upswing the day we went to war with Iraq. That isn't a scarcity, thats speculation. The same thing is happening now, oil traders site fears about refineries and future supply, that is raking the price up. The reality is their is no real lack of supply at the moment, and technically how things work(as Ive described before) there can't be above a certain point(rumoured at 70 dollars a barrel).


The second biggest oil trader in the world, Morgan stanely, is currently predicting a complete collapse of oil prices in the near future. They quote 20 dollars a barrel.

Want more proof, the friendly neighborhood oil companies are posting the largest profits in their history. Should they? Well that depends, if they were building more refineries and power plants I might not see a problem. As it is I wish there was just a little more competition in that market.

[Ziploc]

Gas prices in Hamilton are at ~99c cdn a gallon..

the thoguht of gas stations changing theyre signs to accomidate a $1 is ludicris!

[Darkel]

Originally Posted by mrmojo77 OH well, in some cities here it cost more than 1,6$/liter already.

Same here, it's currently about 1.3€/liter and getting worse ...

[jon_s]

Originally Posted by mrmojo77 I was expecting Graywolfs answer. I hope that you're right with this one. I'd be so happy if I could pay less than 1€ per liter of gasoline.

I hope someone tells me when! Oil is making me quite a bit of money on the stock market currently. p.s if anyone does trade; take a look at Circle Oil

[FoxFour]

Originally Posted by 5vz-fe As long as US is still the leading oil consumer, I think my blame is still good http://www.energybulletin.net/4357.html 20.4 million barrels per day vs 6.5 million barrels in 2004 Tho they did point out that the growth of oil consumption is a mare 15% from 94 - 04.

Hey, we like our cars. Look how big and highly populated our country is, compared to Canada, which has a few areas of heavy population and the rest is mainly barren wilderness. Like RC said, wait until China completes their highway program. I fear that gas prices will not go down that much like it used to in the past.

[Toronto]

Originally Posted by Ziploc Gas prices in Hamilton are at ~99c cdn a gallon.. the thoguht of gas stations changing theyre signs to accomidate a $1 is ludicris!

that is dirt cheep or do you not mean gallon?

[graywolf624]

I hope someone tells me when!

If I could do that my name would be Warren Buffet and I'd be talking to you from my villa in Monaco.

If I had money Id be investing in oil for the next few months and buying short probably sometime in next two years.. But I have no money to invest, so thankfully I have nothing to lose. At the end of the day I know the if, but I can't begin to tell you when.

[nthfinity]

Originally Posted by FoxFour Originally Posted by 5vz-fe As long as US is still the leading oil consumer, I think my blame is still good http://www.energybulletin.net/4357.html 20.4 million barrels per day vs 6.5 million barrels in 2004 Tho they did point out that the growth of oil consumption is a mare 15% from 94 - 04. Hey, we like our cars. Look how big and highly populated our country is, compared to Canada, which has a few areas of heavy population and the rest is mainly barren wilderness. Like RC said, wait until China completes their highway program. I fear that gas prices will not go down that much like it used to in the past.

really, its not a huge shortage of oil, but rather a shortage of refineries... (hopes more refineries are built soon)

[jon_s]

Originally Posted by graywolf624 I hope someone tells me when! If I could do that my name would be Warren Buffet and I'd be talking to you from my villa in Monaco. If I had money Id be investing in oil for the next few months and buying short probably sometime in next two years.. But I have no money to invest, so thankfully I have nothing to lose. At the end of the day I know the if, but I can't begin to tell you when.

To be be fair, knowing the if and the but is half the battle. Life would be boring if we all knew the when. I hope it holds out for 6 mths to let Circle Oil take off then I will be happy.