Cdowwe Posted April 11, 2005 Share Posted April 11, 2005 Ive done alot more walking lately, but I live in a college town so everything is basically within a mile or 2 of me. A bike I found in the trash has helped alot too. I read somewhere that we only get 12% of our oil from the Middle East. Anyone confirm that. Also, I believe China is the biggest reason, all we need to do is think of a way for them not to want oil. :laugh: Link to comment Share on other sites More sharing options...
The Evil Genius Posted April 11, 2005 Share Posted April 11, 2005 Well...to be honest...I think a major correction is going to occur by fall and we are going to see close to low $40 a barrel come back. Call it a hunch. BTW - what we pay now is no where close to what people paid in the early 1970's if you add inflation in. Oh, and it's $2.55 in Sacramento (well, Elk Grove) near my house for Regular Unleaded. Link to comment Share on other sites More sharing options...
jbooma Posted April 11, 2005 Share Posted April 11, 2005 Originally posted by Cdowwe I believe China is the biggest reason, all we need to do is think of a way for them not to want oil. :laugh: Bingo, we need them to drill their own. Link to comment Share on other sites More sharing options...
Oldskool Posted April 11, 2005 Share Posted April 11, 2005 Originally posted by T.E.G. BTW - what we pay now is no where close to what people paid in the early 1970's if you add inflation in. Actually we are getting close. Adjusted for 2005 dollars, oil would be trading for $70.00/barrel vs the $55.00/barrel that it is selling at the moment. The Ms. Cleo's of the markets are saying that by the end of the summer we could be paying that much again. Link to comment Share on other sites More sharing options...
ross3909 Posted April 11, 2005 Share Posted April 11, 2005 In the long run these high prices will pressure a quicker migration of the American commuter from gas guzzeling SUV's to alternate fuel and hybrid vehicles. Even though it hurts now, once these changes are over America will no longer be so dependant on oil and free from the demands from OPEC. This week is the first week I parked by sedan and I am driving my wifes four banger roller skate to work. It hurts but looking forward to the day that these companies greed finaly reduced the demand for their product. Link to comment Share on other sites More sharing options...
The Evil Genius Posted April 11, 2005 Share Posted April 11, 2005 Well,crude oil prices were down for what, an 8th striaght day? So perhaps the market is correcting itself. Remember reading something last week that said oil production was up 5% and demand was up 2% - so does it make sense for prices to fall then? Not an economist here... Link to comment Share on other sites More sharing options...
Darth Tater Posted April 11, 2005 Share Posted April 11, 2005 Originally posted by visionary Not to get political, but I bet part of this is that nut Chavez's fault, for stopping all oil to us from Venezuela. If he won't sell us his oil, he's got to sell it to someone and to do that he has to push another seller out of that market who then must sell more to us if they want to sell their oil. If you must blame an external force, blame China and India. Their demand has grown much faster than expected. Link to comment Share on other sites More sharing options...
Darth Tater Posted April 11, 2005 Share Posted April 11, 2005 Originally posted by skin-n-vegas Of course a company shouldnt make a profit. They should be in business for the "common good" of the world! How many oil companies would we have if they all worked for free? I know you were being sarcastic but by the only possible objective meaning of 'common good', an economic actor knows he/she is meeting that goal is by maximizing profits. :laugh: Link to comment Share on other sites More sharing options...
Darth Tater Posted April 11, 2005 Share Posted April 11, 2005 I've got a question: If current demand for foreign oil is about 12%, how much do we need to reduce our oil consumption to eliminate our dependence on foreign oil? Link to comment Share on other sites More sharing options...
Riggo-toni Posted April 11, 2005 Share Posted April 11, 2005 $2.05 yesterday in NJ, but at least it's Full Serve. Link to comment Share on other sites More sharing options...
ntotoro Posted April 11, 2005 Share Posted April 11, 2005 Originally posted by Riggo-toni $2.05 yesterday in NJ, but at least it's Full Serve. When my Dad first moved to DC, he said he was surprised people had ever blown up their cars because he didn't know how to do it, seeing as he never pumped his own gas... :laugh: Nick Link to comment Share on other sites More sharing options...
Johnny Punani2 Posted April 11, 2005 Share Posted April 11, 2005 I am looking into buying a hybrid car with AWD or a Jeep CRD/diesel engine. Anyone have/had an Audi w/TDI? If so, are they any good? Link to comment Share on other sites More sharing options...
neilclarke Posted April 11, 2005 Share Posted April 11, 2005 Here's a bit of info for all of us to consider... I know I do now after finding this out: The following oil companies below import the majority of their oil from the middle east. Most hate the United States and anything to do with Americans. But they sure don't turn down our good ole greenback when it comes to supplying us with oil. Shell- 205,742,000 barrels imported Chevron/Texaco- 144,332,000 barrels imported Exxon/Mobil- 130,082,000 barrels imported Marathon/Speedway- 117,740,000 barrels imported Amoco- 62,231,000 barrels imported The following companies do not import the first barrel of oil from the Middle East: Citgo Sunoco Conoco Sinclair BP/Phillips Hess Suffice it to say I support these companies that do not import any middle eastern oil whenever possible. The above figures are from the US Department of Energy. Link to comment Share on other sites More sharing options...
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