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Old 12-05-2008, 12:09 AM #17
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Default Re: Gas prices

Yes and no, the number of other factors involved is just too much to make any accurate assumptions at this point. As you said, "we've cut back and strived for more efficient vehicles and alternative fuel vehicles". This means that more people now have vehicles that use less fuel which lowers demand. People have been forced to learn how to save money and fuel (personally I like saving money now) and this mentality will remain for many years. this creates the stress of having to cut back on production across the board, many companies will be using less energy and doing less exporting (less demand on fuel).

As much as I canít trust these "weather man" analysts anymore I did hear just today on my way home from work on NPR that there is a prediction that oil will sell for lower than $25 by next year.

You can not sell something at a high price, piss everyone off, lower the price after you sucked those people dry, and then raise it way up again. Everyone will think they see the same trend forming and do what they did when we saw the first drop in oil prices. Only this time they would do it sooner and be more angry.

Plus those who speculated and invested in oil futures have had a hard run, and will be less likely to speculate as much a second time. you might see some short swing highs from people trying to make a quick buck investing in oil while its in an up trend, but based on past experiences those people will probably sell it off quickly.


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Old 12-05-2008, 04:50 AM #18
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Default Re: Gas prices

I don't recall what it was in the 80's (I only drove for the last 4 years of that decade and my parents paid for the gas most of the time anyway), but I do remember driving from Maryland to Los Angeles in June of 1998 and getting really mad when I had to pay more than .95 for a gallon of gas! Out west, like in Oklahoma, I was getting gas for .79 or so a gallon....I kept all my gas receipts and I swear I spent only $100 to go clear across the USA! It did help that I had a compact car with a 4cyl engine, but that kinda backfired when I was in states with 75mph speed limit and going up hill I had it floored just to barely MAKE the speed limit and not get run over by a bunch of semi's! ;D
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Old 12-05-2008, 05:50 AM #19
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Default Re: Gas prices

Not to mention lots of people get nice Christmas bonuses...I'm not one of them. ;D

When I was 16yrs old, it costs me $10 to fill up my tank on my Ford Escort 94, this was back in 1998. Gas went for around high 70's to mid 80 cents. Anything over a dollar was unheard of.

Plus, more enticement:
We were all beginning to adapt (as adaptation being our biggest strength and weakness) to the high prices. Now, $1.70 is a steal compared to the $4.50 we were forced to pay so although they aren't quite that low, they sure seem that they are!

And comon, the automobile industry is the largest industry in the world, walking hand-in-hand with gas. You can't say that the government doesn't govern the gas prices. Gasoline is our air. We need it to survive. Constantly, never ending, FOREVER! PAY PAY PAY! MONEY MONEY MONEY!

sorry end rant.
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