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Yay! $5 a gallon gas!!

Discussion in 'Off Topic [BG]' started by 5stringDNA, Oct 12, 2004.


  1. 5stringDNA

    5stringDNA

    Oct 10, 2002
    Englewood, CO
    For all you folks in the USA, get ready to pay more for gas... a lot more! Venezuela is one of our primary oil providers.

    http://news.bbc.co.uk/1/hi/world/americas/3732224.stm

    I think Chavez is a moron is screwing over his own economy by doing this... there are going to be some nasty economic repercussions to such an act.
     
  2. Against Will

    Against Will Supporting Member

    Dec 10, 2003
    Big Sound Central
    Oil is (in economic terms) an inelastic good, i.e., demand will stay largely unchanged. It's not as if Venezuela's rolling in the dough and being greedy, it's trying to redistribute some of the wealth that's being exported from their country and help improve their people's situation.

    Will it have repercussions? Yes, I'm sure even Chavez realizes that, but the US NEEDS oil for its economy to function, so in terms of supply and demand, we don't really have much of a leg to stand on.

    If you don't like it, ride a bike. It's a capitalist country...vote with your dollar!
     
  3. MJ5150

    MJ5150 Terrific Twister

    Apr 12, 2001
    Lacey, WA
    this will make it a little more spendy to fill both tanks in my 460. :(

    -Mike
     
  4. 5stringDNA

    5stringDNA

    Oct 10, 2002
    Englewood, CO
    I do realize that as a country we don't pay a whole lot for gas compared to others, but still, I'm not exactly excited about the jump I'm gonna see in gas prices. I took the bus to school today consequently.. gotta love that free student bus pass....

    I'm curious how much Phillips. Exxon and Conoco are going to limit their production/exports from Venezuela now.
     
  5. kserg

    kserg

    Feb 20, 2004
    London, UK
    arent price are bad in other countries because of taxes that go into fixing roads etc? ...or what they do here in california, fix same road over and over for 5 years... fix then destroy fix then destroy...
     
  6. Davehenning

    Davehenning

    Aug 9, 2001
    Los Angeles
    $5 per gallon!!!!!!!!!!!!!!!!!!! I put over $40 into my SUV coming home from a gig last night!!!
    :scowl:

    Well, at least this sucker gets almost 50 MPG!
     
  7. dlloyd

    dlloyd zzzzzzzzzzzzzzz

    Apr 21, 2004
    Scotland
    It's aroun $5.50 per (US) gallon in the UK at the moment... that's 72% tax.
     
  8. Mike Money

    Mike Money Banned

    Mar 18, 2003
    Bakersfield California
    Avatar Speakers Endorsing Hooligan
    Screw`em... The US needs to stop its dependence and go drill Alaska.
     
  9. The estimated size of the oil reserves in ANWR are only enough to satisfy this country's needs for roughly one year. The main reason people are pushing in Alaska to open ANWR is one word: JOBS.
     
  10. Frank Martin

    Frank Martin Bitten by the luthiery bug...

    Oct 8, 2001
    Budapest, Hungary, EU
    $5 for oil in US? I think it was about time. We have higher prices here, though.
    Why do i think its good from some aspects? Because this will show many people that oil, as a non-renewable source of energy, has a limited supply. It is not limitless, and the growth of demand is bigger than supply (which will actually be shrinking in the future), therefore it will be more and more expensive. The age of cheap oil in the US is over - the age of cheap oil is already over in the rest of the world (1973-74, then another drastic price increase in the '80's oil crisis). Wasting is not an option - so SUVs will be out, hybrid-fuel cars in (they already are taking over new sales in terms of growth dynamics); also the high price will make it more profitable to research other technologies that may substitute this old technology

    My $0.02, IMO, etc

    P.S. I dont think it will go to $5 in the US (at least for some time), but will get higher than it is now. And the oil price will calm down after some time and settle around $25-30 per barrel
     
  11. 5stringDNA

    5stringDNA

    Oct 10, 2002
    Englewood, CO
    I was exaggerating a bit on the $5 thing, but I do thinkprices will hit the $3 and $4 mark int eh next year or so. Being a rather poor college student, I can't afford to drive anything larger than a Metro or motorcycle on my income and e3xzpenditures if price sky-rocket. Something that small is not reasonable though, considering I need a large vehicle for work, my bass rig, and hockey equipment (goalies have a lot of junk...)
     
  12. Brendan

    Brendan

    Jun 18, 2000
    Austin, TX
    Hey, get out of Canada Junior, pal. They'll drill ANWR over my dead body. Or, should that happen, my Canadian or Mexican body. Probably Canadian.
     
  13. Against Will

    Against Will Supporting Member

    Dec 10, 2003
    Big Sound Central
    "An SUV?!! We're trying to make a getaway, not driving to soccer practice!"
     
  14. Mike N

    Mike N Missing the old TB

    Jan 28, 2001
    New York
    72%? No wonder we told the Queen mum to shove it up her knickers some 230 years ago and declare our independence.

    Geez, what's the tax on tea up to these days?
     
  15. Against Will

    Against Will Supporting Member

    Dec 10, 2003
    Big Sound Central

    It was the King mum, actually.

    She's not quite that old.
     
  16. Ericman197

    Ericman197

    Feb 23, 2004
    Iowa
    If oil prices rise in one country, other countries will fill in the gap. There may be an initial rise in price, but things will calm down over time. Oil prices will more than likely rise in the future, but I'm not going to stop SUV'ing it up or start caring any time soon. I will admit that my neighbor's H2 Hummer is a tad on the inefficient side ( 4MPG ;) ) but eh, it doesn't bother me too much.
     
  17. Davehenning

    Davehenning

    Aug 9, 2001
    Los Angeles
    I think you are confusing a 4x4 truck with a minivan.
    :p Homie don't play that....... :D
     
  18. Against Will

    Against Will Supporting Member

    Dec 10, 2003
    Big Sound Central
    When was the last time YOU went to soccer practice.

    Yeah.

    That's what I thought.
     
  19. Davehenning

    Davehenning

    Aug 9, 2001
    Los Angeles
    Huh? :confused:

    I am still confused with what your first post meant anyway.......

    What does me driving an SUV back home from a gig have to do with anything relating to soccer?

    :eyebrow:
     
  20. Against Will

    Against Will Supporting Member

    Dec 10, 2003
    Big Sound Central
    Nothing, it just reminded me of that Family Guy quote.