ehaase Posted November 3, 2007 Share Posted November 3, 2007 Some say that $300/barrel oil is not too far away. I guess that would be $8 to $10/gallon. http://www.cnbc.com/id/15840232?video=585900607&play=1 Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted November 3, 2007 Share Posted November 3, 2007 Also, it's probably a good idea to consider how government debt and current account deficits affect currency values and import pricing before you post about global currency/economy issues. The Euro is, IMO, thoroughly overvalued at this point, and the only question is -when- a correction will occur. Based on fundamental considerations, including the hodgepodge that is Euro monetary policy, I would've expected a correction much sooner, but it hasn't occurred. Because there is no central EU government, and no central EU monetary authority, and because individual governments have repeatedly asserted that they will put local interests ahead of continent wide monetary policy, it is unlikely that the euro will replace the dollar as the default international currency. Quote Link to comment Share on other sites More sharing options...
Bored of Pisteon Posted November 3, 2007 Share Posted November 3, 2007 Hmm, I remember back to the summer of 2000 and how I cringed at paying $2 for regular. If only! I filled up the G today and of course because the other half thought it would be amusing to take one of the other cars and leave this one with fumes I was stuck filling up in Irvine. Anyhow 3.60 a gallon for 91 Octane. Sheesh!!!!! Not to criticize you but why in hell would you buy a car that only accepts premium octane? You realize folks a lot of foreign cars do and the typical consumer buys into that hook, line, and sinker everytime! No empathy for you sir when your car takes a shit either mechanically or on resale value. Quote Link to comment Share on other sites More sharing options...
suv_guy_19 Posted November 3, 2007 Share Posted November 3, 2007 Not to criticize you but why in hell would you buy a car that only accepts premium octane? You realize folks a lot of foreign cars do and the typical consumer buys into that hook, line, and sinker everytime! No empathy for you sir when your car takes a shit either mechanically or on resale value. Because his car is amazingly beautiful. I want that car so bad. Quote Link to comment Share on other sites More sharing options...
Pioneer Posted November 3, 2007 Share Posted November 3, 2007 Premium only costs $.20 more per gallon. If you can't afford $3.20 a gallon, you can't afford $3.00 gas. Quote Link to comment Share on other sites More sharing options...
euro101 Posted November 3, 2007 Share Posted November 3, 2007 The prices you quote amaze me - here where we're owned by the "mother of parliaments" we're paying about GBP 1 per litre - that's about GBP 4.50 per gallon - around $9/gallon at current ex rates. It's been pretty steady the last few months at around this level - big barrier the GBP 1 / litre thank goodness. I guess the only thing holding the price at the pump steady at present is the weakness of the US$ vs the Euro and Pound - and I'm not sure the pound will last very long at this level. As for Europe having uncordinated policies - there is a central bank that sets interest rates for the Eurozone regardless of individual countires requirements. The national govts then 'tweak' their economies to flavour local needs - like the size of the budget deficit and level of tax (always too high). Sadly the EU is becoming more and more coordinated as one state - look at the new EU Constitution, sorry, Treaty that no govt wants their electorate to vote on. Quote Link to comment Share on other sites More sharing options...
ANTAUS Posted November 4, 2007 Share Posted November 4, 2007 Remember you also pay state and county, or even city taxes on gas as well. So that might explain some of the discrepancies, and also, theres' different fuel mixtures as well depending upon the region your in, so that explains the other portion. Quote Link to comment Share on other sites More sharing options...
Ford Jellymoulds Posted November 4, 2007 Author Share Posted November 4, 2007 What are the French doing to about the supply and demand problem at $96, how are they going to hit the oil speculators where it hurts? http://uk.reuters.com/article/oilRpt/idUKL0437317420071104 Quote Link to comment Share on other sites More sharing options...
RangerM Posted November 4, 2007 Share Posted November 4, 2007 This is happening right under our nose...and the politicians and leaders stand there and say the "economy" is fine. Very short sighted to think the inevitable (stated above by ANTAUS) will not happen! No need to worry. Hillary, Pelosi, and Reid will take care of you in 16 months. There'll be no drilling in ANWR, off the coast of Florida, or in the shales of the Northwest. The laws of supply and demand no longer apply when you live under Socialism/Communism. [/extreme sarcasm] Quote Link to comment Share on other sites More sharing options...
suv_guy_19 Posted November 4, 2007 Share Posted November 4, 2007 No need to worry. Hillary, Pelosi, and Reid will take care of you in 16 months. There'll be no drilling in ANWR, off the coast of Florida, or in the shales of the Northwest. The laws of supply and demand no longer apply when you live under Socialism/Communism. [/extreme sarcasm] The US is in no danger of becoming socialist. Your politics starts to the right of ours and we're not a socialist country. Quote Link to comment Share on other sites More sharing options...
Edstock Posted November 4, 2007 Share Posted November 4, 2007 What are the French doing to about the supply and demand problem at $96, how are they going to hit the oil speculators where it hurts? How about bio-diesel and E-85? Can the latest Ford/Peugeot-Citroen diesels do bio? Hell, the French farmers are always complaining snd protesting; this'll get 'em to stop guzzling their Calvados and work. Quote Link to comment Share on other sites More sharing options...
Ford Jellymoulds Posted November 4, 2007 Author Share Posted November 4, 2007 How about bio-diesel and E-85? Can the latest Ford/Peugeot-Citroen diesels do bio? Hell, the French farmers are always complaining snd protesting; this'll get 'em to stop guzzling their Calvados and work. All the oil that is saved by the French walking and getting on their bikes will be very much a waste of time Ed, the Chinese will just come a suck up, buy up all the oil the French have saved so its not going to make much of a difference. Good point Ed bio diesel, but l don't know how many large bio diesel refineries they have. Quote Link to comment Share on other sites More sharing options...
one2gamble Posted November 4, 2007 Share Posted November 4, 2007 I cant remember the last time I have paid under $3 a gallon..... Quote Link to comment Share on other sites More sharing options...
wescoent Posted November 4, 2007 Share Posted November 4, 2007 Don't expect the Arab nations to be dumping our dollars as currency reserves anytime soon. Thankfully, we have a nice political arrangement with these countries. We keep their governments in power and use our military to keep the Middle East a relatively stable place. In exchange, they sell us their oil and keep our dollars as currency reserves. As much as their leaders bellyache about Israel, we are on remarkably good terms with them. If they reneg on their promises, expect us to reneg on ours. Also, expect China and India to start pressuring for lower oil prices. Both countries have been artificially subsidizing the price of gasoline, driving demand through the roof to spur growth. With the rise in oil prices, these subsidies are costing them all BIG time. Expect them to either cut subsidies or seek to lower prices using other means. Quote Link to comment Share on other sites More sharing options...
RangerM Posted November 4, 2007 Share Posted November 4, 2007 ...... we're not a socialist country. Give it time. With the types of "programs" being proposed, it is only a matter of time. When 51% of the population figures out it can vote to take $$ from the other 49%, a democracy (or a democratically-elected republic) fails. Quote Link to comment Share on other sites More sharing options...
ShockFX Posted November 4, 2007 Share Posted November 4, 2007 that's already happening. notice how the price of gold has skyrocketed? USD has fallen out of favor with the world Gold is also priced in USD. Stop talking. Quote Link to comment Share on other sites More sharing options...
ShockFX Posted November 4, 2007 Share Posted November 4, 2007 The Euro is, IMO, thoroughly overvalued at this point, and the only question is -when- a correction will occur. Based on fundamental considerations, including the hodgepodge that is Euro monetary policy, I would've expected a correction much sooner, but it hasn't occurred. Because there is no central EU government, and no central EU monetary authority, and because individual governments have repeatedly asserted that they will put local interests ahead of continent wide monetary policy, it is unlikely that the euro will replace the dollar as the default international currency. I'm pretty sure your opinion on the value of the Euro means absolutely nothing. Also, currencies are not like stocks, there is no reason to expect corrections at any point. Let's see, we have low interest rates, possible high inflation, lower growth than other countries, nearing the end of a 5 year bull run, and a potentially toxic subprime lending problem. Why would anyone expect the USD to appreciate under those considerations? Quote Link to comment Share on other sites More sharing options...
Ford Jellymoulds Posted November 6, 2007 Author Share Posted November 6, 2007 Oil broke new records again today as it went above $97, with interest rates looking like they are in for another cut that will force the price even more higher if it happens. http://www.cnbc.com/id/21643645 Quote Link to comment Share on other sites More sharing options...
matthewq4b Posted November 6, 2007 Share Posted November 6, 2007 Oil broke new records again today as it went above $97, with interest rates looking like they are in for another cut that will force the price even more higher if it happens.http://www.cnbc.com/id/21643645 Plus the Canadian Dollar is breaking records not only in value but in the rate of escalation. Just 6 weeks ago it was trading below a $1 U.S ($0.97 to be exact) Currently it is trading at and over $1.08 U.S. This is being driven by a couple factors. The Conservatives mini budget was recieved favorably. Canada's Housing market is booming and still climbing even though things in Edm are cooling (but that was to be expected since we seen nearly a 100% increase in prices in the last 18 months). The Canadian economy created 63,000 jobs in October, much higher than the prediction of 12,000. Resources prices are at at some of the higherst levals ever. It is not just that the CAD is climbing against the USD but is gaining on all currency's. I, m not sure how this is going to affect the price of Oil in the long run. But as the U.S dollar cools I belive Oil is going to keep climbing. Matthew Quote Link to comment Share on other sites More sharing options...
Ford Jellymoulds Posted November 6, 2007 Author Share Posted November 6, 2007 (edited) Plus the Canadian Dollar is breaking records not only in value but in the rate of escalation. Just 6 weeks ago it was trading below a $1 U.S ($0.97 to be exact) Currently it is trading at and over $1.08 U.S. This is being driven by a couple factors. The Conservatives mini budget was recieved favorably. Canada's Housing market is booming and still climbing even though things in Edm are cooling (but that was to be expected since we seen nearly a 100% increase in prices in the last 18 months). The Canadian economy created 63,000 jobs in October, much higher than the prediction of 12,000. Resources prices are at at some of the higherst levals ever. It is not just that the CAD is climbing against the USD but is gaining on all currency's. I, m not sure how this is going to affect the price of Oil in the long run. But as the U.S dollar cools I belive Oil is going to keep climbing. Matthew What found amazing Matthew, is how PetroChina have come from nowhere to being the world’s most valuable company — double the market capitalisation of its nearest rival, Exxon Mobil, it’s the worlds first trillion dollar company, l never realised they were that big. http://business.timesonline.co.uk/tol/busi...icle2813853.ece Still every cloud has a silver lining if you take a shopping holiday in the US everything is going to be so much cheaper with the exchange rates what they are. So the US tourism economy will get a bit of a boost from a weak dollar. Edited November 6, 2007 by Ford Jellymoulds Quote Link to comment Share on other sites More sharing options...
matthewq4b Posted November 6, 2007 Share Posted November 6, 2007 What found amazing Matthew, is how PetroChina have come from nowhere to being the world’s most valuable company — double the market capitalisation of its nearest rival, Exxon Mobil, it’s the worlds first trillion dollar company, l never realised they were that big.http://business.timesonline.co.uk/tol/busi...icle2813853.ece Still every cloud has a silver lining if you take a shopping holiday in the US everything is going to be so much cheaper with the exchange rates what they are. So the US tourism economy will get a bit of a boost from a weak dollar. Petro China has ben laying the ground for this for years it is no surprise to be honest. They are trying to secure as many crude resourses as possible. They have invensted 10 Billion here for a pipleine from Ft Mac to Prince Rupert. To pipe oilsands crude and refined fuels to the tankers to ship directly to China. And have a proposed anouther 40 billion plus for Oil Sand project development. Husky Oil was bought by a Chineese consortium with the head having direct ties to Petro China. I have been saying to for years the Americans needed to get thier ass in gear and secure the resources here and start dumping cash in to R&D to futher the exploration of Alternative tech to recover and upgrade the stuff. Hell even the province has tried to lure U.S big oil and the U.S Gov't get serious about it. It all fell on deaf ears for decades. Now that all the preimium leases are spoken for. And Petro China is buying up what can be pried away from the current holders. Alot of the American companies that are now interested are out in the cold and have to compete with Petro China for leases. Petro China has show they will do what ever it takes to sucre the resourse. And they are doing this all over the planet. Petro China is going to be a massive force to deal with in the future. Mean while the Americans are messing around in the middle east trying to secure a supply that could possibly be on the down slope. When the largest Crude deposits on the planet are sitting on their dooor step (literally) in a U.S freindly nation. Matthew Quote Link to comment Share on other sites More sharing options...
ShockFX Posted November 6, 2007 Share Posted November 6, 2007 Petro China has ben laying the ground for this for years it is no surprise to be honest. They are trying to secure as many crude resourses as possible. They have invensted 10 Billion here for a pipleine from Ft Mac to Prince Rupert. To pipe oilsands crude and refined fuels to the tankers to ship directly to China. And have a proposed anouther 40 billion plus for Oil Sand project development. Husky Oil was bought by a Chineese consortium with the head having direct ties to Petro China. I have been saying to for years the Americans needed to get thier ass in gear and secure the resources here and start dumping cash in to R&D to futher the exploration of Alternative tech to recover and upgrade the stuff. Hell even the province has tried to lure U.S big oil and the U.S Gov't get serious about it. It all fell on deaf ears for decades. Now that all the preimium leases are spoken for. And Petro China is buying up what can be pried away from the current holders. Alot of the American companies that are now interested are out in the cold and have to compete with Petro China for leases. Petro China has show they will do what ever it takes to sucre the resourse. And they are doing this all over the planet. Petro China is going to be a massive force to deal with in the future. Mean while the Americans are messing around in the middle east trying to secure a supply that could possibly be on the down slope. When the largest Crude deposits on the planet are sitting on their dooor step (literally) in a U.S freindly nation. Matthew Which is fine because in the war Canada will tell China to piss off. Unless, of course, the mounties decide to kick ass. It's a moot point because the US and Canada will be one country soon enough. I'm surprised there hasn't been more talk about the Amero since the currencies equalized. Quote Link to comment Share on other sites More sharing options...
suv_guy_19 Posted November 6, 2007 Share Posted November 6, 2007 (edited) Which is fine because in the war Canada will tell China to piss off. Unless, of course, the mounties decide to kick ass. It's a moot point because the US and Canada will be one country soon enough. I'm surprised there hasn't been more talk about the Amero since the currencies equalized. OMG. There is going to be no unified country in NA. Edited November 6, 2007 by suv_guy_19 Quote Link to comment Share on other sites More sharing options...
ShockFX Posted November 6, 2007 Share Posted November 6, 2007 OMG. There is going to be no unified country in NA. Dude, it's inevitable. At least Canada + the US. Quote Link to comment Share on other sites More sharing options...
suv_guy_19 Posted November 6, 2007 Share Posted November 6, 2007 (edited) Dude, it's inevitable. At least Canada + the US. It's not inevitable. My god, Quebec wants to leave us as it is, do you think they would agree to join with the US? I don't. It would not be good for Canada. Edited November 6, 2007 by suv_guy_19 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.