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ORIGINAL: FatDomDaddy

I am not worried about gasoline prices at all. The price of oil at close to $120.00 a barrel is a bubble that is beyond false and it will soon pop. Even in the worst case scenario, crude oil should be between $55 and $60 a barrel and that is with a weak dollar. The $120 price is poor speculation. gasoline prices will be back around $2.00 buy January 2009. Of course for some reason this will drive the democrat party and many leftists insane but what can you do???

Nope, my driving habits are not changing. It is my American right to drive anywhere I well please and I will.

Now maybe the dems and the lefties should get real and start supporting nuke technology if they are so freaking worried about oil.

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ORIGINAL: FangsNfeet
So is the price of gas changing my life? No, but the price of Baby Formula has.

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ORIGINAL: Lordandmaster

We'll see, but I don't think the price of groceries is coming down anytime soon.  There's no economic reason to anticipate that.

But everyone's an expert.

the supermarkets.

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ORIGINAL: winterlight

Lots of people are starting gardens. Time to slow down your speed when driving and get a hybrid. I would get one but they are too expensive for me.
I have been a passenger in one. They are nice.

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ORIGINAL: Leatherist

Prices tend to stay up once they go up. I'm starting a garden.

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ORIGINAL: Aneirin

I have recently noticed, the price of basic foodstuffs has gone up, whether this be the increased cost of fuel or food getting scarce, either way, it's going to get rough for those on meagre incomes.

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ORIGINAL: FangsNfeet

What an interesting thread.

Ten years ago, I was being payed $7.00 / hr and drove 30 miles to work. My rent was $500 a month all bills paid. Gas was just a little over a dollar per gallon. Back in these days, my gas gauge usually sat on E or on the Quarter Tank side. I'd rarely had enough money to buy over half a tank. I struggled and bumed dollars just to get a gallon of gas here and there.

Now, my hourly income is close to triple. I'm 45 miles from work. My house note is over $1200 a month. I also have to pay on utilities. I'm paying $3.50/gallon on gas.  Inflation wise, my pay went up. But also did gas and living payments. Even my miles to drive to work increased. Yet, gas is not difficult for me to buy. No buming is needed.

I'm having less difficulty buying gas now that I ever have in my entire time of driving. 

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ORIGINAL: FatDomDaddy

Truthfully, the cost has little to do with OPEC. Crude oil is a commodity and is only worth something when its actually being purchased. OPEC likes selling the stuff, in fact, it really needs to sell oil to survive. OPEC does not set the price, the Global World Market does. The problem with that market right now, besides a weak US dollar, is the false speculation going on. It is a market bubble and just like any other market bubble, it is going to pop. When it does, the people who bought at over $85 will take a bath big time. Trust me, a lot of the people who bought $85 are buying $120 in hopes that the doomsayers are right. The problem for them is right now in 2008 and for a long long time after, there is plenty of oil and its easy to get to.

Now OPEC may be gaining some benefit in its pocketbook but then they don't need to speculate on the price do they?  They just need to sell it.

And remember this....  The $120 is for the right to buy that oil at $120 in the future. That is not the price on the dock. The price is the dock is far cheaper. And if in the future, light sweet crude is $97, or $87 or $67 and not $150 a lot a good that $120 paper will do.