What Happens When Oil Hits $120??

Originally posted by 44soulslayer
Price of 1 litre of petrol : £1.05 (average)

Cost of 1 litre of petrol after oil companies and forecourts take their profit margin : £0.33

Tax : bloody unacceptable.

I heard that the British pretty much get raped over gas and taxes. That must really suck.

I always thought when I was in Germany it was no big deal since they had great public transportation.

There's only 3 things certain in this life:

1. Death

2. Taxes

3. Whenever a Bush is in office there will be terribly hard economic times for the country.

The price of oil hasn't really transferred over to the price of gas yet. Look for that to hit next month and into June and July. We will definitely see $4.00 a gallon gas for 87 octane this year. It's already $4.00 for diesel and $3.59 for 93 octane here in DC now and rising by a nickel every day or two.

Next year however will be much better. There will be a huge sigh of relief in January when these blood suckers are swept out of DC, regardless of who wins. Look for this year to be one of the worst in American history as far as the economy goes though.

Originally posted by Escrotumus
Next year however will be much better. There will be a huge sigh of relief in January when these blood suckers are swept out of DC, regardless of who wins. Look for this year to be one of the worst in American history as far as the economy goes though.

Really? Wasn't Congress pushing to tax the oil companies for some ungodly about of money and use it to fund "Alternative fuel projects"??

And when this happens, the oil companies will make sure to pass the cost onto the consumers.

If Clinton is elected, expect her Socialist ideas of "wealth sharing" to backfire at the pump.

They'd better come up with something otherwise we're all in for it.
I might just move back to my country... have a house and farm there.
Think about it this way, cars were only invented about 100 years ago.
How did the past make there way?

Actually what is driving up the price of oil is the the crashing US economy.

The price is not soaring because of supply and demand problems. Petrol is traded in US dollars and two things are dragging the dollar down.

(1) Sub prime market collapse and endemic corruption in the US finance markets.

(2) The squandering of US wealth on a civil war in Iraq. Shades of Vietnam.

I've seen the prices continue to rise in the small, but busy restaurant I own. One of my food sales reps said mayo will increase almost 2 bucks a gallon. Bread, cooking oil & paper goods continue to rise. Is there going to be a point where the price increases slow down? I've seen my Sysco bill increase about $400/week for the same amount of products. I just increased my menu prices around the first of the year, but I'll need to do it again by summer. Oh & don't forget state & federal taxes. The gov't makes more than me off the buisness. How much is the public willing to pay for a Po-Boy?

[edit on 12-3-2008 by corusso]

Well as a non American may I politely suggest use the ballot box because the once mighty and great United States economy is drowning in debt, much of it from expenditure in Iraq.

I suspect the rest of the world will soon abandon the Dollar for the Euro as the currency of preference and cut the States adrift.

For Americans the only choice is to get rid of someone in Washington.

Originally posted by sy.gunson
For Americans the only choice is to get rid of someone in Washington.

I vote, but I think its going to be harder that just changing presidents.

[edit on 12-3-2008 by corusso]

Buy heaters and get free veggie oil to burn in your trucks and fuel oil furnaces. Buy a barrel of acetone and run it in your car. These b*****ds
aren't going to hold ME hostage!!!

Many experts are now saying the odds of the Us and Israel attacking Iran are greater than 50/50 before he leaves office. If Iran shuts down the flow of oil ....I don't have to tell you what this will do to petrol prices here in the US. Now that Bush has fired Adm. Fallon I would say that the odds of an attack are even greater......Remember Bush,s motto when you vote in the fall .."Bend over and I'll Drive"!

I am beginning to think that an economic/fuel crisis is exactly what we need to get some of these sheep living in America to wake up! I've already made my contingency plans, cutting daycare, thus cutting my driving, cancelling my summer road trip with the family, but what else can I cut, I still have to work, now I just put less food on the table and more gas in my car. This will effect the economy, and it will effect it greater when I realize I am working for 5.00 per hour instead of what I really make because the cost of gas is taking the rest, so I might as well quit my job, and draw food stamps and welfare. Seriously people, someone said before that this should not effect people who live within their means, but that's not true, those of us that have a family cannot afford $100 more in gas a month, that takes $100 worth of food off our families tables.

Originally posted by jerico65

Really? Wasn't Congress pushing to tax the oil companies for some ungodly about of money and use it to fund "Alternative fuel projects"??

And when this happens, the oil companies will make sure to pass the cost onto the consumers.

If Clinton is elected, expect her Socialist ideas of "wealth sharing" to backfire at the pump.

Actually you have it wrong. The congress was going to get rid of the tax breaks/subsidize that we give the oil companies to the tune of billions and use that for alternative energy. Given the profits these guys are making on our tax money I only think thats fair dont you?

reply to post by corusso

We also have had prices go up in the small town pizza shop I work in.Flour went from $16.00/50lb bag to almost $40.00/50lb bag.We also were forced to raise our prices.

Now some of the truck drivers that deliver our food are saying there are rumors of a trucker strike.If that happens our small town pizza shop is doomed.

I will be doing two jobs (I don't have my license due to Attention Defficit) but none the less, I work in a grocery store, so my job is pretty secure and am guaranteed 20 hours a week, and hopefully a computer store job with another 20 hours a week, as far as I know computer repair and groceries are high priorities despite the gas problem.

But one issue I have is, why can't we protest the high prices to our governments, because all we are doing is pretty much accepting the fact we have $1.11 CAD gas, or $3 dollar a gallon USD gas or whatever, like a mass protest like a strike, remember the immigration strikes of 2006?

Something on a more massive scale of North America, just mass protesting to the government would take notice, as here in Canada Harper lowered our GST 2 % (Lots of anger when it was enacted in 1989) however merchants raised their prices. But doing mass protesting could work, the governments could remove some of the taxes from gas when they find out everything is at a standstill.

Forgot to mention the other thing going up is the Canadian dollar, if oil goes up, the CAD will go up with it.

[edit on 13-3-2008 by hypr2008]

Mass transit in Reno is switching to hybrid buses. So if gas prices do go up to $120 then all the RTC has to do is raise the price 50 cents and be on par with Las Vegas at $2 bucks per rider, on a 24 hour basis.

The same thing that happened in Great Britain in the 60s and 70s and to a lesser degree in the US, is better fuel efficient and smaller cars. Like the Mini Cooper. People will buy energy efficient stuff. I'm buying these electric "amplifier" things that you plug into the wall, and then plug your TV or computers or whatever in to them, and it pulls a small charge from the wall and amplifies it to power your appliance. I pay a VERY small power bill because of it. I also use energy efficient light bulbs and all that jazz. Keeps my bills unfairly low, and guess what? They are tax deductible. The infrastructure is already there people, we just need the excuse to use it...Because Global Warming isn't enough of an incentive to not rape the Earth, maybe economic hardship will do it. Nothing is going to fall apart though. America and the world have been through worse.



[edit on 13-3-2008 by projectvxn]

saw this on Youtube...

www.youtube.com...


...maybe not entirely relevant, but bloody scary nonetheless.

Originally posted by mellowyellow
saw this on Youtube...

www.youtube.com...


...maybe not entirely relevant, but bloody scary nonetheless.

Ok, if that happened then I would worry a bit...But until then, people quit being wasteful, get a more efficient car, and invest in amplifiers like I have for your most energy draining appliances, and viola! you are Green! It isn't hard and I had to change nothing about my daily routine, nor did I have to cut anything out. I actually have more spending money because of it.

Originally posted by Attari
Wonder what the panic was in the 70's and 80's. Did they react the same way? Yup.

I remember when it was "dried" up or atleast that is what the Media told us. Long lines waiting for gas because of the panic. Stations closing because they were "out" of gas etc.

Well but there is a hint of truth to this. I used to work at a gas station...we would run out of unleaded (the cheapest, atleast in Iowa,) and we would have to bag off the pumps. Alot of our stations were bagging them off, so there was high demand... but the problem is that there are only so many drivers for the gas stations. So while the people are wasting their gas looking for a place that has unleaded, the gas station is doing the best it can.

Now...with all this being said, it's true that the oil companies are holding back the oil...which is stupid! I think they could make more money if they just let it all out! Because of them, we are trying to invent ways of getting around oil, so its gunna be their loss in the long run!

*steps off his soap box *

Answer this 'easy to answer in my opinion' question then tell me what's up:

Would bio-diesel or other alternative energy sources be cheaper than gas?

-If so, the government would be losing most of their profit, this is because oil literally runs the world and the american population wouldn't be contributing to their 'needs' any longer.

-Unfortunately, This is why I don't see the government giving up what currently circulates around the country they run, and ofcourse worldwide.

-You guys are forgetting this most important and simplest point!

[edit on 13-3-2008 by xnibirux]

reply to post by Dracmoor


Yeah my friend, I understand your logic here however you are missing a very serious point. (I'm sure someone has probably already replied as such).

It's not only going to be $70 to $80 a month. That's just the gas. It will be $0.25 more per loaf of bread, gallon of milk, $0.10 more for canned goods, etc. I don't know if you have a good size family or not but our food bill, with the same size family, has increased significantly over the past two years. Add those costs, along with all other associated costs, and you are talking closer to $300 and above more per month. More likely it will be much greater.

It's not just about gas.

The funny thing is that the food industries and such aren't recording record profits. They're just trying to stay in the black. It's the oil companies.

I remember when congress tried to call in the CEO of Exxon a few years back. He was supposed to answer why the prices were going up so drastically and yet they were bringing in record profits back then. Well, thanks to a gutless (or more likely a co-conspirator) administration, the guy walks in, challenges them to do something about it and smugly walks out. Not one thing came of it.

That should be a serious telling point right there.