Will $5 a gallon gas soon be the reality? (Full Version)

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Marini -> Will $5 a gallon gas soon be the reality? (1/23/2011 8:31:57 PM)

Many of us are shaking our heads when we head to the pumps these days.
I would think that rising gas prices, will cause many of us to cut back on some of the driving that we do.

I have read many, many, articles that indicate that $5 a gallon gas, could be the reality by this time next year.

The reasons for this, make this very probable, IMHO.

http://www.investorplace.com/27935/5-dollar-gas-prices-crude-oil-gasoline/

I would like to hear what some of our resident "great thinkers" could be the answer to our ever increasing oil and gas prices.

Will $5 gas become the new normal?

[;)]



TheHeretic -> RE: Will $5 a gallon gas soon be the reality? (1/23/2011 8:52:06 PM)


quote:

ORIGINAL: Marini

I would like to hear what some of our resident "great thinkers" could be the answer to our ever increasing oil and gas prices.

[;)]



I know you are talking about me, Mari [:D]

I say what I've been saying. The sooner we use up every drop of oil the middle east can pump, the sooner the region stops mattering.

Closer to home, the timing is working out just as I had hoped. My mid-size SUV will be in demand as people trade down from the full size ones, and diesels are much more widely available in the local market than when I bought the current beast a couple years ago.



ThatDamnedPanda -> RE: Will $5 a gallon gas soon be the reality? (1/23/2011 8:55:07 PM)

Hi! Long time no see! How've you been? I hope you had a very Merry Christmas and your New Year is off to a wonderful start!

quote:

ORIGINAL: Marini


I would like to hear what some of our resident "great thinkers" could be the answer to our ever increasing oil and gas prices.


Nothing. The world's supply of petroleum is decreasing, the demand is increasing, and there's simply no way to reverse either trend.




quote:

ORIGINAL: Marini

Will $5 gas become the new normal?



For a while, but only for a while. It won't be too many years before we look back on the days of $5 gas as the "good old days," the way we look back at .25 or .50 cents today.



Marini -> RE: Will $5 a gallon gas soon be the reality? (1/23/2011 8:59:52 PM)

Of course I was talking about you, Rich.

[;)]

I am so glad I don't have a mid or full size SUV or anything similar these days, Rich.

Why can't we bring the price down on electric cars, and make them more popular?
How bout a BIG gubment rebate????



Marini -> RE: Will $5 a gallon gas soon be the reality? (1/23/2011 9:02:31 PM)

Hiya Pandaman!

I can't stay away too long, Happy New Year to you, also!
Glad to see you posting.

[;)]



Hippiekinkster -> RE: Will $5 a gallon gas soon be the reality? (1/23/2011 9:13:18 PM)

Panda: "Nothing. The world's supply of petroleum is decreasing, the demand is increasing, and there's simply no way to reverse either trend. "

Exactly right. And, at this late date, I fear there is nothing Mankind can do to prevent the collapse of our petroleum-based industrial civilization. "Collapse" (I watched it on Netflix) tells the tale most compellingly.



Marini -> RE: Will $5 a gallon gas soon be the reality? (1/23/2011 9:17:06 PM)

Time to bring back one of my favorite 70s expressions, when it comes to picking up and driving around SOME people.



gas, grass, or ass, no one rides free.[sm=hippie.gif]



Cato84 -> RE: Will $5 a gallon gas soon be the reality? (1/23/2011 9:28:59 PM)

I am not shocked as we were warned of this decades ago by the Hubbert curve. Call me selfish, but I couldn't care less as long as we here in this country have the means to move to the now entirely electric cars like it seems we do now.



hlen5 -> RE: Will $5 a gallon gas soon be the reality? (1/23/2011 9:33:16 PM)


quote:

ORIGINAL: Cato84

I am not shocked as we were warned of this decades ago by the Hubbert curve. Call me selfish, but I couldn't care less as long as we here in this country have the means to move to the now entirely electric cars like it seems we do now.



Selfish.

It's not just about cars.



Marini -> RE: Will $5 a gallon gas soon be the reality? (1/23/2011 9:34:00 PM)

Hello Cato,

I enjoy reading what you have to say, welcome!

I would love to have an electric car, but I disagree with "everyone" having the means or ability to pay for or have one.



Musicmystery -> RE: Will $5 a gallon gas soon be the reality? (1/23/2011 9:34:24 PM)

quote:

I have read many, many, articles


[8|]



Marini -> RE: Will $5 a gallon gas soon be the reality? (1/23/2011 9:36:25 PM)

quote:

ORIGINAL: Musicmystery

quote:

I have read many, many, articles


[8|]


kiss, kiss I know you missed me.
I did read a couple of articles, really!



Cato84 -> RE: Will $5 a gallon gas soon be the reality? (1/23/2011 9:43:41 PM)

quote:

ORIGINAL: hlen5
Selfish.

It's not just about cars.


Not it's not just about cars, but it is primary about cars.

quote:

ORIGINAL: Marini
I enjoy reading what you have to say, welcome!

I would love to have an electric car, but I disagree with "everyone" having the means or ability to pay for or have one.


Thanks so much for the welcome.

The beauty of it is that you don't have to have the ability to afford an electric car for a while. As demand for gas decreases as others buy new products so will the price.

It took several decades for the original cars to be affordable to the general public.



Cato84 -> RE: Will $5 a gallon gas soon be the reality? (1/23/2011 9:50:19 PM)

And I thought about this one for a second and wanted to revisit my answer. Price will more than likely never decrease because of inflation and reduction in supply. However, the reduction in demand will force the price to not rise so much more than it is when demand decreases.

I may sometimes pretend to be an educated economist but am still just an avid follower of those Chicago Economists that I might just someday have the privileged of learning from first hand.



willbeurdaddy -> RE: Will $5 a gallon gas soon be the reality? (1/23/2011 9:58:10 PM)

No, $5 a gallon gas will not be the reality any time soon. $4 yes, but there are a lot of factors that will keep it from going much higher, most of which boil down to demand. The regular consumer has already shown that he will cut way back on his gas consumption when things tip around the $4 point. The US economy overall cannot sustain paying that kind of price, leading to further recession and more pressure on demand. A lot of articles will project higher demand from China as adding pressure on prices. They fail to take into account that China is still highly dependent on the US economy to sustain its growth.

To reach $5 unprecedented cooperation between cartel members would be needed, since as demand slips and revenues drop, some of the OPEC countries will break away and lower price to shore up demand for their product. The oil producing countries as a whole will also hold back price increases because if gasoline gets too expensive then harvesting domestic reserves and deveoping alternative forms of energy become more viable, and they want to avoid adding pressure in those areas.



Hippiekinkster -> RE: Will $5 a gallon gas soon be the reality? (1/24/2011 1:20:42 AM)


quote:

ORIGINAL: hlen5


quote:

ORIGINAL: Cato84

I am not shocked as we were warned of this decades ago by the Hubbert curve. Call me selfish, but I couldn't care less as long as we here in this country have the means to move to the now entirely electric cars like it seems we do now.



Selfish.

It's not just about cars.
Once again, exactly. US agriculture is completely dependent on petroleum. From pre-treating the soil with fumigants and fertilizers for root growth, to the NPK growth fertilizers, and the pesticides and herbicides, to the feul required to transport produce an average of 1500 miles to the consumer, petroleum profucts are involved at every stage. The aviation industry wouldn't exist without Avgas and jet fuel. Diesel is used in most of the US goods distribution infrastructure and on many military vehicles. Many pharms are synthesized from oil. Oil is used for heat in most of the temperate world. Many items in your house, from carpets to roofing to paints to furniture, are made from oil.

Check out some time how much energy it takes to produce an AMD (or Intel) processor.

Driving electric cars and swapping out fluorescent/LED lights for incandescent won't make much of a dent.



Fellow -> RE: Will $5 a gallon gas soon be the reality? (1/24/2011 2:45:07 AM)

We have lived years with ~$4.50 gasoline in Canada. The economy is still standing.



servantforuse -> RE: Will $5 a gallon gas soon be the reality? (1/24/2011 4:31:03 AM)

Most electric cars will have a range of about 100 miles. What good are they ? Cato, do you have $41,000 to buy a Chevy Volt ??



tazzygirl -> RE: Will $5 a gallon gas soon be the reality? (1/24/2011 5:38:09 AM)

Anyone know what the cost is to "refuel" an electric car?



pahunkboy -> RE: Will $5 a gallon gas soon be the reality? (1/24/2011 6:03:13 AM)

There is no inflation. It is all in your head. 



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