If $4/gallon gas is bad, just wait

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I'm not shocked yet and neither is most of America as holiday driving is only expected to be reduced by 1%. Call me when it gets to $6/gal, then I will be more concerned. But that is where it needs to go to effectively reduce consumption.
Fred
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I tend to agree and maybe even higher. I personally will use all I want unless there is a shortage. Businesses will eventually pass these costs on to the consumer or go out of business. This could result in the worst of situations - failing economy and inflation. Meanwhile we are selling the country to OPEC.
Jerry

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Actually from what I read over 50% of the crude we import comes from the western hemisphere, not OPEC. A large portion of the balance, come from the Brits

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It doesn't matter where we get our oil from as OPEC still influences global prices. If OPEC wasn't supplying other countries, then those other countries would be buying from the sources the US buys from. Countries tend to buy oil from closest sources to reduce shipping costs. The US buys a lot of oil from Canada and Mexico. Mexican production is declining.
Fred

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Mike hunt wrote:

Very little comes from the Brits. About 10 times as much petroleum comes from Canada (from whom we import them most) than the UK. Our biggest source of imports are Canada (2451 thousand barrels of petroleum per day through march) ), Saudi Arabia (1556), Mexico (1329) Nigeria (1126) and Venezuela (1146), UK (197). These countries account for most of our imports.
Jeff

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Duh! The last time I looked Canada, Mexico and Venezuela were in the western hemisphere. Double DUH the BRITS ARE the UK. LOL.

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Mike hunt wrote:

Where did I say anything about any of the countries being located in or outside of the Western hemisphere? I was quantifying where the oil comes from.
Do you need to act like a jerk all the time (and I am giving you the benefit of the doubt when I use the verb "act")?
However, only a small portion of the amount that does not come from the Western Hemisphere (less than 10%) comes from the UK, which, despite what you said, I don't consider a large portion of balance. Percentages are not your strength.
Jeff

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It's interesting to see that only a couple years ago, the oil companies were on television, in newspapers, and in courts demanded to explain themselves and thier profits. this year, the focus is on the consumer, and thier explanation of what else they are going to cut back so that they will still be able to spend the same amount in the car during the traveling season. that being said we have to ask a couple questions: - why are oil companies out of the media? - can we really see consumers stop using thier cars? - when oil/gas could find its price equilibrium?
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They are out of the media because none of the presidential candidates are willing to tackle the difficult issues since all of them are scared to death of what bringing in controversial issues might do to the election.
All of the candidates have basically agreed to avoid hot buttons like Abortion, Taxing, and suchlike, and talk about a specific set of generic issues. After all they know that the last 2 presidential elections ended in a tie based largely on party lines. Each of them knows that out of the gate they already have nearly 50% of the vote and all they really need is a few percent to win. Well, that few percent is going to come from the independent voters, and research shows that independent voters do not like controversy and will not turn out to vote if they sense it. So, even though the truth is that both parties have radically different approaches to problems, both candidates will play the Kumbiya card heavily, then once elected they will ignore what the independents want and serve their own parties.
Ted
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> GUEST wrote: > "Judging from the futures markets, shock at the gas pump is > bound to get worse. Maybe much worse. > > "Since the beginning of the year, benchmark oil and gasoline > futures on the New York Mercantile Exchange both have increased > by more than a third, but the average retail price of gasoline > in the U.S. has risen by 22%. That bodes ill for consumers..." >
> Wall Street Journal: http://easyurl.net/BendOver
I feel that the EV-1 had its benefits, and although pricey it would have been more successful if they marketed/promoted it across the country...not just in CA.
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On May 23, 7:21pm, Ed

Keep in mind we have a DEMOCRAT MAJORITY IN CONGRESS AND THE SENATE - Can't blame it on the Republicans this term. The previous 4 years ago, we had a REPUBLICAN SENATE AND CONGRESS, not DEMOCRAT.
Food for thought!
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ADdiy55 wrote:

The GOP is the group threatening filibuster (60 votes needed to break) so a majority (50+1) isn't a majority-gotta keep $$$ going to the oil companies. We will have to wait for 20 Jan 09 to correct this wee problem.
--
Civis Romanus Sum

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