How high can gas go?

[sportage]

They talk about $4 a gal gas by this Summer.
But what you don?t hear is the possibility of $5 a gal gas by Christmas 08,
and up to $8 a gal gas by Summer/fall 2009.
Is that something we can live with?
Would that destroy our economy and create a 1929 like depression?
Can you imagine a tank fillup costing as much as your monthly home mortgage payment?

 

[Slew Foot]

Dave Mcowen is already crazy

 

[Saint Michael]

I wonder how long it will take for the people shouting "NO WAR FOR OIL!!!" to be shouting "WAR FOR MOTHERFUCKING OIL!!!"...

 

[Eli]

Originally posted by: sportage
They talk about $4 a gal gas by this Summer.
But what you don?t hear is the possibility of $5 a gal gas by Christmas 08,
and up to $8 a gal gas by Summer/fall 2009.
Is that something we can live with?
Would that destroy our economy and create a 1929 like depression?
Can you imagine a tank fillup costing as much as your monthly home mortgage payment?

For it to cost even 800$ to fill up the average tank, it would have to be over 60$ a gallon. :laugh:

We will have moved onto alternative energy sources long before that point.

 

[jpeyton]

How high can Exxon's record breaking profits go?

The answer to both questions go hand-in-hand.

 

[Cdubneeddeal]

If the gas does go up to $4.00 a gallon, I'm riding a bicycle to work permanently. No way in hell I'm paying $50.00 to fill up my Jetta. That'll be $200 a month just in gas.

 

[Agentbolt]

People said the 3 dollar "psychological barrier" would be huge when it was broken, and nobody ended up really caring when it happened.

 

[Cdubneeddeal]

Originally posted by: Agentbolt
People said the 3 dollar "psychological barrier" would be huge when it was broken, and nobody ended up really caring when it happened.

Because people are so tied to their cars, like an addiction. One reason why Americans are so fat..

 

[sportage]

And whats funny as hell is the rumor of hordes of oil under S. Dakota (or was it north?).
You think gas is high now, coming from other countries.
No other country has ever outdone the good old USA when it comes to GREED!
If Exxon got its little pumps onto oil in the Dakota's, we'd see that $60 a gal gas bill
faster than you could snatch a Saudi?s turban.

 

[Eli]

Please educate yourself on how the world works. Thanks.

Moving to an electric infrastructure could actually decrease the price of many other goods as the energy burden is shifted away from oil, increasing availability for other uses.

 

[Aimster]

Originally posted by: Cdubneeddeal
If the gas does go up to $4.00 a gallon, I'm riding a bicycle to work permanently. No way in hell I'm paying $50.00 to fill up my Jetta. That'll be $200 a month just in gas.

Lol I pay $350 a month to fill up my SUV
now probably $400

 

[Aharami]

i think i'd ask to be allowed to work from home 3 days out of the week when gas hits $4/gal.

Right now I WFH 2 days

 

[Cdubneeddeal]

Originally posted by: Aimster

Originally posted by: Cdubneeddeal
If the gas does go up to $4.00 a gallon, I'm riding a bicycle to work permanently. No way in hell I'm paying $50.00 to fill up my Jetta. That'll be $200 a month just in gas.

Lol I pay $350 a month to fill up my SUV
now probably $400

I can't comprehend why anyone would own a vehicle that costs that much to operate. Why not use public transportation or ride a bike?

 

[gsethi]

Originally posted by: Cdubneeddeal
If the gas does go up to $4.00 a gallon, I'm riding a bicycle to work permanently. No way in hell I'm paying $50.00 to fill up my Jetta. That'll be $200 a month just in gas.

I am already paying ~4.00 a gallon here in SF bay Area for 91 octane (last fill-up was at $3.989 per gallon)

 

[AdamK47]

About $22/gal.

 

[Baked]

Originally posted by: Cdubneeddeal
If the gas does go up to $4.00 a gallon, I'm riding a bicycle to work permanently. No way in hell I'm paying $50.00 to fill up my Jetta. That'll be $200 a month just in gas.

It's $4+/gallon here in Cali already. No way I'm riding the bus or bike to work. The most I'll do is walk to the train station from home (15 min walk or 2 miles) and back. Bus is BAD! Getting run over by cars while riding the bike is worst!

 

[Ika]

There was a nice SciAm article on alternative fuel and gas prices a while back. Can't find it online though.

 

[Aimster]

Originally posted by: Cdubneeddeal

Originally posted by: Aimster

Originally posted by: Cdubneeddeal
If the gas does go up to $4.00 a gallon, I'm riding a bicycle to work permanently. No way in hell I'm paying $50.00 to fill up my Jetta. That'll be $200 a month just in gas.

Lol I pay $350 a month to fill up my SUV
now probably $400

I can't comprehend why anyone would own a vehicle that costs that much to operate. Why not use public transportation or ride a bike?

No choice for now.
Can't sell the car. It would be like throwing money away. Nobody is going to pay a good price for a BMW with 108,000 miles on it. I got the car with gas prices around $2.30/gallon I think. Now it is around $3.70. Yay me

When I am done with school the first thing I am doing is buying a new car that is NOT an suv.

 

[jlee]

Originally posted by: Cdubneeddeal

Originally posted by: Aimster

Originally posted by: Cdubneeddeal
If the gas does go up to $4.00 a gallon, I'm riding a bicycle to work permanently. No way in hell I'm paying $50.00 to fill up my Jetta. That'll be $200 a month just in gas.

Lol I pay $350 a month to fill up my SUV
now probably $400

I can't comprehend why anyone would own a vehicle that costs that much to operate. Why not use public transportation or ride a bike?

There's no public transportation up here, and bikes are impractical unless you live close-ish to work...not to mention they're absolutely worthless in snow. 4wd is a definite plus, ruling out economy cars...

Ahwell.

 

[Eli]

Originally posted by: JLee

Originally posted by: Cdubneeddeal

Originally posted by: Aimster

Originally posted by: Cdubneeddeal
If the gas does go up to $4.00 a gallon, I'm riding a bicycle to work permanently. No way in hell I'm paying $50.00 to fill up my Jetta. That'll be $200 a month just in gas.

Lol I pay $350 a month to fill up my SUV
now probably $400

I can't comprehend why anyone would own a vehicle that costs that much to operate. Why not use public transportation or ride a bike?

There's no public transportation up here, and bikes are impractical unless you live close-ish to work...not to mention they're absolutely worthless in snow. 4wd is a definite plus, ruling out economy cars...

Ahwell.

Subaru?

 

[jlee]

Originally posted by: Eli

Originally posted by: JLee

Originally posted by: Cdubneeddeal

Originally posted by: Aimster

Originally posted by: Cdubneeddeal
If the gas does go up to $4.00 a gallon, I'm riding a bicycle to work permanently. No way in hell I'm paying $50.00 to fill up my Jetta. That'll be $200 a month just in gas.

Lol I pay $350 a month to fill up my SUV
now probably $400

I can't comprehend why anyone would own a vehicle that costs that much to operate. Why not use public transportation or ride a bike?

There's no public transportation up here, and bikes are impractical unless you live close-ish to work...not to mention they're absolutely worthless in snow. 4wd is a definite plus, ruling out economy cars...

Ahwell.

Subaru?

'tis an option, yes. They're a little too pricey for me to consider economy cars, though. Cheap FWD cars do great in snow, though...but I hate to give up my truck. Toyota is buying it back, though..so if I'm going to get anything different, now's my chance..

 

[CorCentral]

I say about $4.50/$5.00 and people will be shitting bricks and Car manufacturers that produce huge gas guzzlers will be Fucked and Frozen.

Good luck trading in that Escalade or Suburban that you paid $45k+ for, for a $30k hybrid 2 years later :laugh:


Edit: I own a Mazda6 I4/'04 that gets about 24mph, but only fill it once a mth. That's the great part.

 

[mundane]

Originally posted by: Aflac
There was a nice SciAm article on alternative fuel and gas prices a while back. Can't find it online though.

January had an extensive article on switching over the infrastructure to solar power, which would alleviate many fossil fuel concerns. I haven't caught up on the more recent issues, so it could have been covered since then.

 

[Aimster]

Most oil producing nations control their oil. The government does.

Maybe we should do the same. Of course we are democratic, free world, blah blah.
Exxon Mobil for first trillion dollar company!

 

[Rike]

Demand for gas is relatively inelastic and it has few readily available substitutes. That means that changes in the price of gas have relatively little effect on the demand for gas. Thus, you will buy almost as much gas @ $2 a gal as you will at $4 or $5 or $6 or more.

The impact of that it harder to say. The fact they we are getting hit with the mortgage situation and high energy costs at the same time is not good as they will tend to magnify the negative aspects of each other in the minds of the public, leading to a greater tightening of consumer spending than they would have if each event happened separately. Will it be as bad as the 1930's? I sure hope not. However, every transition to a different major energy source has been marked by economic turmoil, so hold on to your hats.