When gas goes up!!

This is a discussion on When gas goes up!! within the Off Topic & Humor Discussion forums, part of the The Back Porch category; OK, Oil rig in the Gulf blows up and spews millions of barrels of oil. All future drilling is now off the table. Oil refinery ...

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Thread: When gas goes up!!

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    Ex Member Array HollowpointHank's Avatar
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    When gas goes up!!

    OK, Oil rig in the Gulf blows up and spews millions of barrels of oil. All future drilling is now off the table. Oil refinery in Texas blows up. (weird huh?) Now supplies will dwindle quickly. What is going to happen when gas shoots up to 5, 6, or 7 dollars a gallon? The economy will tank. There may be thousands more without homes. Perhaps a lot of violence? I have a very bad feeling about the next 3-6 months. What are your thoughts?

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    Wholesale cost on gas has dropped 20 cents over the past two days, oil wells, inventory and such has less to do with oil prices vs speculates, they are the driving force in oil / gas prices, we need to get them out of the loop.


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    Distinguished Member Array Stetson's Avatar
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    As long as there's no panic buying we should be all right. Gas and diesel historically go up in the Summer as these are our driving months or they
    use to be.There's no such thing as a Sunday drive in my house anymore as that went by the wayside in 1974.We decided we were going to use less
    and make the price gougers choke on their oil!

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    AzB
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    I'll do the same thing I did when gas here went up over $4 a gallon and there were shortages. I rode my bicycle and motorcycle. A quarter tank in my van lasted me a month. The motorcycles get used a bit more, but at 55+ mpg, it's a lot better.

    Just like being prepared for other emergencies, I refuse to be so totally dependent on fossil fuel that I can't function.
    Az

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    New Member Array ninjashoes's Avatar
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    This is why I choose to take the bus. Its a pain sometimes especially when you are sitting next to someone straight out of the mental ward but you gotta do what you gotta do.

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    VIP Member Array ccw9mm's Avatar
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    I don't see it nearly so dire as suggested.

    Quote Originally Posted by HollowpointHank View Post
    OK, Oil rig in the Gulf blows up and spews millions of barrels of oil.
    Current rate of leakage: a couple hundred thousand gallons per day.

    For reference, the Exxon Valdez mess was 11M gallons, total.

    A standard barrel of oil is 42 gallons. Refined, we end up with ~20 gals of automotive gasoline, with the rest going to other products (avgas, fuel oils, distillates, etc).


    All future drilling is now off the table.
    I'm assuming operations on all other platforms will continue, near-future politics will attempt to slow some deals in the works, and that the long-run drilling off-shore will continue to increase as the number new fields found dwindle. Can't see it being off the table for "all future." People's attention span simply isn't that long.


    Oil refinery in Texas blows up. (weird huh?) Now supplies will dwindle quickly.
    That one refinery hasn't been obliterated. And it only handles 14K bbls/day. Based on USA consumption of 20M bbls/day and production of 9M bbls/day, 14K bbls represents ~0.07% and shouldn't do much more than be a "blip" on the oil futures market.


    What is going to happen when gas shoots up to 5, 6, or 7 dollars a gallon? The economy will tank. There may be thousands more without homes. Perhaps a lot of violence? I have a very bad feeling about the next 3-6 months.
    One rig out of commission, and one refinery (14K bbls/day) temporarily unapproachable? In the past 18mos, prices peaked near ~$5/gal at the pump for automotive gasoline in the USA. Can't see it going anywhere near that, simply based on one rig's valves toasted and one refinery temporarily inaccessible. Check the oil futures at end of day Friday, this week. While I'm no global petro analyst, unless they suggest barrel prices in the range of $200/bbl within 12mos then I highly doubt we'll see the sort of prices or plunges suggested.


    Other than that, the coming several years is going to be interesting. It's certainly getting more volatile. As are people.
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    VIP Member Array Brass63's Avatar
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    Have you noticed what a tanking economy and a crushing debt has done to Greece? A lot of rioting and violence...injuries and deaths.
    Is the U.S. a similar kind of powder keg? Hope not.
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    VIP Member Array edr9x23super's Avatar
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    Unless we reign in our spending practices, the same fate awaits us; I just bought another motorcycle as a hedge against high fuel prices. It gets around 45-50mpg, so I can leave the diesel truck parked at the house.....

    Hopefully, we won't be hit as hard as Greece. I don't think we will be if we take care of business in November, our economy is a lot more diversified and stronger than any of the European nations that make up their union.....
    "Guard with jealous attention the public liberty. Suspect everyone who approaches that jewel. Unfortunately, nothing will preserve it but downright force. Whenever you give up that force, you are inevitably ruined". - Patrick Henry

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    WE have so many choices to reduce the dependency problem; if we would only make some decisions and stick with them.

    During the next 10 years oil will become less expensive as more and more hybrid, plug in hybrid, and electric only vehicles hit the market.

    I've been in dual fuel gasoline/natural gas vehicles in other countries, and these are really not difficult change overs if we would just do it.

    Short term, yes, an energy price run up will tank the economy just as it did two years ago. While everyone blames the housing bubble, there were very many families who were managing to pay their bills until their gasoline budget
    started taking an extra 200-400 a month from their wallets.

    We all have a bright future here if and only if we can somehow get past the oil problem and find a better way to power our lives.

    (Note, I'm not even talking about environmental issues. Just the national security and economic issues related to being dependent on Venezuela and its friends.)

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    I have a Company Fleet Card :)

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    VIP Member Array Hiram25's Avatar
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    Motorcycles are fun to ride and use less fuel!

    I read a comment on another threat as follow:

    Iran sells oil for $168 a barrel, and buys wheat for $7 a bushel.

    Solution, sell wheat for $168 a bushel, price of oil will drop!

    I thought this made a lot of sense!
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    Member Array UnklFungus's Avatar
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    Due to the historic, meteoric plunge of the DOW and company, oil fell $2.86 to settle at $77.11 a barrel on the New York Mercantile Exchange.
    True, this is probably temporary, but who knows. The global financial market is rather tumultuous right now.
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    Member Array Alf87's Avatar
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    I was used to paying over $5 a gallon consistently before I retired and was stationed in England. When the gas crunch hit here in the U.S. I was paying $7 -$8 a gallon there. Yeah that hurt, but you learned to live with it real quick. So coming back here last year from England and paying on average $2.50 per gallon for the past year in Colorado, I've been spoiled. But when gas goes up again soon, I may start driving the car to work instead of the truck. We'll still travel because that's our hobby but we'll have to plan things a little differently. Unfortunately, I can't bring myself to buy a hybrid yet but that could change if things get really out of hand. Also, I never learned to ride a motorcycle or that would be a great option.

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    Distinguished Member Array Der Alte's Avatar
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    Stetson, you are a little off on the price of diesel. It goes up in the winter because it competes with heating oil and goes down during the summer months.
    At least thats the way its been for the last 15 years that I have been driving a diesel.
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  16. #15
    AzB
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    Quote Originally Posted by Hopyard View Post
    WE have so many choices to reduce the dependency problem; if we would only make some decisions and stick with them.

    During the next 10 years oil will become less expensive as more and more hybrid, plug in hybrid, and electric only vehicles hit the market.
    I absolutely agree with the first paragraph.

    The second, however, I totally disagree with. Hybrids are not the answer. Heck, they're not even a good short term solution. There are many less expensive and less complex vehicles that get just as good or better mileage. You start putting plug in cars on the grid, and you're really not helping at all.

    The real problem is that we're a country of waste. Even with gas at relatively high prices, people are still driving all alone in their gigantic pickup trucks and SUVs. Many of these people floor the gas pedal from one red light to the next, jockeying for position at the light so they can do it again at the next light.

    Fundamental change in our behaviour is going to be required. As much as we like to think technology can save us, I don't think it can. The problem is us.
    Az

    -- Luck favors the well prepared.

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