What happens when gas is $8 a gallon?

What happens when gas is $8 a gallon?

This is a discussion on What happens when gas is $8 a gallon? within the Off Topic & Humor Discussion forums, part of the The Back Porch category; Tuesday, May 06, 2008 Goldman Expects $150-$200 Oil Goldman Sachs said they expect a “super spike” in the price of oil over the next six ...

Page 1 of 7 12345 ... LastLast
Results 1 to 15 of 99

Thread: What happens when gas is $8 a gallon?

  1. #1
    VIP Member Array cdwolf's Avatar
    Join Date
    Dec 2007
    Location
    MS
    Posts
    2,261

    What happens when gas is $8 a gallon?

    Tuesday, May 06, 2008
    Goldman Expects $150-$200 Oil


    Goldman Sachs said they expect a “super spike” in the price of oil over the next six to 24 months that could push oil to $150 or even $200 a barrel.

    “We believe the current energy crisis may be coming to a head, as a lack of adequate supply growth is becoming apparent and resulting in needed demand rationing in the (developed nations) and in particular the United States," the bank said in a research note Monday, according to Dow Jones.

    Goldman (GS: 197.61, +0.49, +0.24%) also said they are unsure how much longer the upside on the price of crude will remain.

    The price of crude oil has gained more than 20% in the past five months on increased economic demand worldwide and possible market speculation.

    Goldman Expects $150-$200 Oil

    I don't see how most people are surviving now, much less double in price!


    So, what would $8 a gallon do to our economy?
    $4.15 for my diesel now,I put $50 in my Z71 at $3.61 yesterday.
    Everything is moved with Diesel, from food (diesel Tractors are used to harvest), to everything else on your local stores shelf.
    Where and when does it level out, It set a record the last three days in a row $122 a barrel now!
    GUN CONTROL= I WANT TO BE THE ONE IN CONTROL OF THE GUN

    A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.


  2. #2
    Senior Moderator
    Array HotGuns's Avatar
    Join Date
    Dec 2004
    Location
    Arkansas
    Posts
    15,119
    So, what would $8 a gallon do to our economy?
    almost stop... but not quite.

    Also...I dont beleive you'll see it till after the Presidential pick enters into office.

    When people figure out that price of gas exceeds their hourly wage, and that 2-3 hours of their day goes to gas...they arent going to like it.
    I would rather stand against the cannons of the wicked than against the prayers of the righteous.


    AR. CHL Instr. 07/02 FFL
    Like custom guns and stuff? Check this out...
    http://bobbailey1959.wordpress.com/

  3. #3
    Ex Member Array Ram Rod's Avatar
    Join Date
    Dec 2007
    Location
    Fayetteville, AR
    Posts
    13,687
    So, what would $8 a gallon do to our economy?
    Create more crime and criminals.

  4. #4
    VIP Member
    Array Miggy's Avatar
    Join Date
    Jul 2005
    Location
    Miami-Dade, FL
    Posts
    6,258
    I don't know at $8, but by the time it reaches $6 we shall be watching some nice riots out there in the world.
    You have to make the shot when fire is smoking, people are screaming, dogs are barking, kids are crying and sirens are coming.
    Randy Cain.

    Ego will kill you. Leave it at home.
    Signed: Me!

  5. #5
    Administrator
    Array SIXTO's Avatar
    Join Date
    Oct 2006
    Location
    Ohio
    Posts
    20,304
    I think the biggest factor right now is that everyone has something to say about it, and its all over the media about gas price doomsday. IMO, thats permission for OPEC and the oil companies to continue to jack prices up, after all, we are expecting it.
    "Just blame Sixto"

  6. #6
    VIP Member
    Array Scott's Avatar
    Join Date
    Dec 2004
    Location
    The Old Dominion
    Posts
    5,050
    Riots, burning, looting, killing and anarchy...but that's just me, ya'll can do whatever you want.

    These guys are great. They've already talked our economy into the crapper, why not talk oil higher. I like how they give themselves 2 years of leeway on the prediction as well. I need to be a commodity analyst if this is what they do.

    Also why bother drilling in ANWAR when we can invade some other country and take their oil? ANWAR will take a decade or more to develop, where we could invade and in months have a supply.
    Procrastinators are the leaders of tomorrow.

  7. #7
    VIP Member Array Kerbouchard's Avatar
    Join Date
    Dec 2007
    Location
    Texas
    Posts
    2,894
    I don't think it's funny...and I think we are on the verge of a major collapse...hence the reason I voted 1-3 years in the collapse thread. It's here. It's going to happen. I just hope Defensive Carry is around when we rebuild.
    There are two sides to every issue: one side is right and the other is wrong, but the middle is always evil.

    http://miscmusings.townhall.com/

    Who is John Galt?

  8. #8
    VIP Member Array David in FL's Avatar
    Join Date
    Nov 2007
    Location
    Central Florida
    Posts
    2,342
    Nothing.

    Supply, demand and the free market will adjust accordingly......as they always do.

  9. #9
    VIP Member Array Cupcake's Avatar
    Join Date
    Mar 2007
    Location
    Michigan
    Posts
    3,164
    Food and goods prices will rise. People will still be whining about gas prices as they fill up their SUV and 4x4 trucks they use to to get across town.
    Spend few minutes learning about my journey from Zero to Athlete in this
    Then check out my blog! www.BodyByMcDonalds.com

    Cupcake - 100 pound loser, adventurer, Ironman Triathlete.

  10. #10
    Senior Member Array palmgopher's Avatar
    Join Date
    Jun 2006
    Location
    tennessee
    Posts
    722
    well in most cases i would agree that free market will adjust but china is buying up any available oil it can get its hands on. we dont buy as much because demand down....china buys more. it will be interesting......anyone read the book "the long emergency"....great read maybe a little over the top at times but a very good read. look it up.

  11. #11
    Distinguished Member Array Reborn's Avatar
    Join Date
    Feb 2008
    Location
    Rowlett, Texas
    Posts
    1,739
    Less time shooting........
    Psalms 144:1
    Blessed be the Lord my strength, which teacheth my hands to war, and my fingers to fight.
    Senior Instructor for Tactical and Defensive of Texas
    http://www.tac-def-tx.com/
    CHL INSTRUCTOR
    Retired LEO
    NRA member
    TCHA member

  12. #12
    VIP Member Array David in FL's Avatar
    Join Date
    Nov 2007
    Location
    Central Florida
    Posts
    2,342
    Quote Originally Posted by palmgopher View Post
    well in most cases i would agree that free market will adjust but china is buying up any available oil it can get its hands on. we dont buy as much because demand down....china buys more. it will be interesting......anyone read the book "the long emergency"....great read maybe a little over the top at times but a very good read. look it up.

    That's part of the global free market. I didn't say that the price will necessarily come down......

    At some point, if demand outstrips supply, common sense may actually prevail and we may begin to get serious about getting the oil that's sitting in our own backyard.

    Don't hold your breath though, for that to happen, people need to be more concerned about humans than they are caribou.....

  13. #13
    Senior Member Array Jackle1886's Avatar
    Join Date
    Mar 2008
    Location
    Kendall, MI
    Posts
    941
    People complain and make comments about us that drive 4x4's. But I live in W. Michigan, where we measure snow in FEET not INCHES. The weekend of Easter enough snow fell that I was pushing it with the bumper of my Jeep. I would love to have a car that gets 30mpg, but I cannot afford two cars.

  14. #14
    VIP Member Array packinnova's Avatar
    Join Date
    Jun 2006
    Location
    VA
    Posts
    4,364
    Quote Originally Posted by cdwolf View Post
    Tuesday, May 06, 2008
    Goldman Expects $150-$200 Oil


    Goldman Sachs said they expect a “super spike” in the price of oil over the next six to 24 months that could push oil to $150 or even $200 a barrel.

    “We believe the current energy crisis may be coming to a head, as a lack of adequate supply growth is becoming apparent and resulting in needed demand rationing in the (developed nations) and in particular the United States," the bank said in a research note Monday, according to Dow Jones.

    Goldman (GS: 197.61, +0.49, +0.24%) also said they are unsure how much longer the upside on the price of crude will remain.

    The price of crude oil has gained more than 20% in the past five months on increased economic demand worldwide and possible market speculation.

    Goldman Expects $150-$200 Oil

    I don't see how most people are surviving now, much less double in price!


    So, what would $8 a gallon do to our economy?
    $4.15 for my diesel now,I put $50 in my Z71 at $3.61 yesterday.
    Everything is moved with Diesel, from food (diesel Tractors are used to harvest), to everything else on your local stores shelf.
    Where and when does it level out, It set a record the last three days in a row $122 a barrel now!
    I emphasized the related part for you for my answer. It's all BS. It has nothing to do with "higher demand". This entire "Crisis" has been blown out of proportion by Clowns speculating too darn much and giving OPEC the perfect justification for jacking prices.
    "My God David, We're a Civilized society."

    "Sure, As long as the machines are workin' and you can call 911. But you take those things away, you throw people in the dark, and you scare the crap out of them; no more rules...You'll see how primitive they can get."
    -The Mist (2007)

  15. #15
    VIP Member Array Sheldon J's Avatar
    Join Date
    Dec 2004
    Location
    Battle Creek, Mi.
    Posts
    2,286
    It would kill the people with the low wage jobs that have to drive to back and forth to work, and that is basically every one that works in a gas station, restaurant, grocery store, mall store, or non factory in the country, not too mention the elderly that still have to drive to get their meds and food, heck it is really pinching them black n blue now.
    "The sword dose not cause the murder, and the maker of the sword dose not bear sin" Rabbi Solomon ben Isaac 11th century

Page 1 of 7 12345 ... LastLast

Sponsored Links

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Search tags for this page

at $3.85 a gallon how much would it cost in gas to drive 1124 miles

Click on a term to search for related topics.