Gas and its outrageous price.

I know. When i visited france, i noticed that public transportation was pretty cheap in proportion to the price of riding in a taxie or even driving yourself on american prices. Unfortunately, that's why europe can get away with that. Everything's so close together, a simple walk to the store is only 5 minutes. Here, a drive to the store is 5 minutes. I wouldn't be surprised that this democratic congress is going to try to keep the prices as high as they can so Obama can promise to bring them down. Alot of people like to falsley blame Bush for the gas prices, and he's a GOP. Think about it... They'd be fools not to, since apparently no one pays attention to what congress does. (You'd be amazed at the attendance rates, especially of our favorites like Hillary Clinton... We pay these people with our taxes, and they go to work when they feel like it, which isn't often.)
 
Flashjeff said:
In some ways, it's all relative. I'm sure this has probably already been mentioned, but in some European countries, gas already at or over $8.00 a gallon. So when you stop to think about it, we're damn lucky.
Click to expand...
In reality 60-70% of Europe's gas price is taxes while in the US it is about 18%. Take away the taxes and Europe's gasoline is actually cheaper than the US.
 
Yea, but european taxes are higher. Sadly, this makes europeans get ticked when americans complain about taxes, but from what i've heard, europeans don't have as many taxes. And heck, in America, we get taxed for dieing. It's called death tax. It's also been commented on in a few places that america's one of the few countries that tax citizens abroad.
 
10 Reasons Why Oil Bubble Set to Burst 😌

Congressional hearings on oil speculation.
Bernanke's comments on the dollar.
Airlines and autos getting crushed.
Nonstop media coverage of the "energy crisis."
Gasoline subsidies being lifted or limited in Asia and India.
U.S. Strategic Petroleum Reserve additions being halted.
Wall Street analysts' aggressive upside oil price targets.
Record decline in vehicle miles driven while SUV sales implode.
U.S. consumption of oil and oil products down nearly 4% in the first quarter.
Iranian [tankers] with 28 million barrels of oil sitting in the Persian Gulf betting on higher prices (and/or because of no buyers).


http://finance.yahoo.com/tech-ticke...Set-to-Burst?tickers=OIL,USO,DUG,XLE,SCHW,OIH
 
緑さん, we also have what you would call "death tax" here in the UK. It's called inheritance tax - so if you work hard all your life and keep some assets aside for your children to have a better life... YOU CAN'T! I love this government :eek:
 
* The dramatic rise in oil prices is a bubble,noting that there is no apparent supply problem with crude.

Remember when oil went to $70 a barrel in the so-called 'Arab Oil Crisis,' there was a shortage.There were lines at gas stations, talking about rationing.There isn't a line at any gas station anywhere in the world,so there's clearly not a physical shortage," he said.

Wilbur Ross: Run-Up in Oil Prices Is a Bubble


* There is "no shortage" in the oil market and OPEC member countries would prefer a lower price than the current highs, OPEC Secretary General Abdalla El-Badri told CNBC on Tuesday.

"I think the problem is with the U.S. dollar, I think the problem is with the speculators, but there is no shortage in the markets," El-Badri said on "Squawk Box."

The dispute between those who say the oil price is driven by speculators and those who maintain that supply is tight has heightened over the past weeks, when crude broke record after record on the international markets.

Blame Dollar, Speculators: OPEC's El-Badri


* The dollar's recent declines against the other major currencies are set to reach the final whistle and greenback sellers will have to retreat to the sidelines, David Darst, chief investment strategist of Morgan Stanley Global Wealth Management Group told CNBC Tuesday.

Game Nearly Over for Dollar Decline: Morgan Stanley


As I've always suspected,there is no shortage of petro in spite of higher demand worldwide.

I think the greenback's depreciation against major currencies of US trading partners is cominng to an end later this year.
 
Sorry about changing the direction of the conversation, but does anyone know whether rpm (rotations per minute) have anything to do with gas mileage? I remember hearing a long time ago (probably during the '70s gas crisis) that at 2 rpm (which is 2,000 rotations per minute of the engine) the gas mileage on a car is best.

I have a Toyota Camry (Japanese, of course!), and it gets over 30 mpg. The tachometer shows that when I'm driving 55 mph the engine is at 2 rpm, and at 60 mph it's just over 2. The speed limit where I drive most is 60 mph so I don't like to go much slower than that because other drivers are usually at 65 mph or more, though there are passing lanes. But there are more and more drivers around here going less than the speed limit to try to get better gas mileage.
 
Yes RPM's matter. The higher the rpm the more fuel is being consumed. My Camry Solara 4 cyl gets 33-35 mpg on the highway at a speed of 72mph at a little over 2,000 rpm I believe. At 75 mph it gets 30 - 32mpg
 
Thanks, Pachipro - you must have a manual transmission(?). My Camry is automatic, and it gets into the 4th gear over 45 mph. At 65 mph the rpm's are probably at 2 1/2. I don't know much about what kind of engine it is - probably 4-cylinder.

My parents had one of the first Honda Accords made in 1976, which was a 5-speed manual transmission. I learned to drive with that car, and haven't enjoyed driving as much in any other car since. I think I remember (it was a while ago) that when in 5th gear at 55 mph the car was just below 2 rpm's.
 
Who are the people who are telling us that speculators don't matter,Jim Rogers or Boone Pickens ? ☝

We're being told,'speculators don't matter' by a bunch of speculators.:p



Pickens: Oil Going to $150, So Move to Gas.

Legendary Texas oil billionaire Boone Pickens expects the price of oil to continue rising.

"Eighty-five million barrels of oil a day is all the world can produce, and the demand is 87 million," he said.


Source: Pickens: Oil Going to $150, So Move to Gas
 
When Pickens or Goldman Sachs says that oil is going up you can be sure that it will. Didn't Pickens say something yesterday about wind and gas energy? I bet they'll go up to.

My point is when these people say things like this, I'd like to knoe what their long and/or short positions are, but I have a feeling we will not be privvy to that info. I bet they make millions.
 
Makes you wonder how individuals get so powerful that they can sit on their rear ends and make lots of money by taking guesses.
 
That's why bthey are powerful as everyone follows, like sheep, everything they say. They make the money and the sheep lose it in the long run.
 
This is the problem with the world. Too many sheep follow too many wolves. Few truely have their own opinion about anything. I see that here, unfortunately... But, that's a topic for another thread. One i really don't have time for, unfortunately.
 
or more simply: Tulip mania - Wikipedia

It's a true problem for society. I was just thinking about how it works on computers, and even computer programmers. I actually have a small document some where around here that explains a few computer programming "taboos." Ones of which that i've personally found end up in results that are opposite of expectations. For example, now days people reject the idea of "explicit jumps." Supposedly, they are nothing but trouble and have no useful advantages, and are even inefficient. Truth be told, it's faster, more depdable, and more stable than the alternative method suggested (calling). I have alot of more programming examples, but Windows is a nice general computer example. =) i don't know anyone that can't find something to complain about windows, yet i know very few who have ever used anything other than windows (though a windows debate/criticism is also for another topic).
 
The peak of tulip mania, which occurred in 1636–37, is generally considered the first significant speculative bubble.

Because of this, the term tulip mania is also used metaphorically to refer to any large economic bubble.

* gold bubble of the early 1980's,this precious metal reached $1,000 US dollars an oz ( remember The Hunts family of Texas ! )
* dotcom bubble of America's historical stock " bull " market ( internet driven robust US economy 1995-2000 )
* housing bubble ( 2001-2006 driven by sub-prime mortgage loans )
* oil ( presently )
 
tokapi said:
* gold bubble of the early 1980's,this precious metal reached $1,000 US dollars an oz ( remember The Hunts family of Texas ! )
Click to expand...
Gold only reached about $850/oz and the Hunt brothers had nothing to do with gold. They only tried to corner the silver market. In todays dollars, gold will have to reach about $2,500/oz to match the high of the late 70's. I believe it will.
 
tokapi said:
The peak of tulip mania, which occurred in 1636–37, is generally considered the first significant speculative bubble.
Because of this, the term tulip mania is also used metaphorically to refer to any large economic bubble.
* gold bubble of the early 1980's,this precious metal reached $1,000 US dollars an oz ( remember The Hunts family of Texas ! )
* dotcom bubble of America's historical stock " bull " market ( internet driven robust US economy 1995-2000 )
* housing bubble ( 2001-2006 driven by sub-prime mortgage loans )
* oil ( presently )
Click to expand...

My post was leaning more towards the herd mentality meaning (possibly one of the causes for tulip mania). Though quite funny is that the wikipedia article argues that the incident that put tulip mania in our vocabulary was falsely portrayed.

Anyway, the next issue will probably be computers (though no speculation involved, except one theory that by 2020 you can't make parts any better than they already are). Big daddy (MS) is milking his kids for too much money. Unfortunately, the mania part comes from hte fact that people refuse to use anything else. Probably the only thing that isn't keeping it from being a political issue right now is the fact that not only do most people not know there's an alternative, and most people are even more fed up with oil.
 
Things like wind energy are only temporary solutions. We americans seem to feel the most pain at the pump. Wind energy isn't going to run our cars any time soon. Hopefully, neither is nuclear.
 
Pachipro said:
In today's dollars, gold will have to reach about $2,500/oz to match the high of the late 70's.

I believe it will.
Click to expand...



Are you predicting coming collapse of US greenback as world's predominant currency since WW II ?
 
I only use car for family weekly shopping and extraordinary errands. (like taking someone to the airport) Besides that, I only use public transportation.

Mostly because of gas prices.

Luckily Portugal is now one of three countries to receive mass production of the Nissan-Renault alliance's electric car. I can't wait to have one of those. (from now to 2011 seems like a decade now) :D
 
Crude is approaching the $150 benchmark.


Oil surges to record high above $146
Friday July 11, 8:42 am ET

LONDON (Reuters) - Oil jumped more than 3 percent to a record high above $146 a barrel on Friday, boosted by concern of threats to supplies from major oil exporters Iran and Nigeria.

U.S. crude hit $146 a barrel for the first time and later rose as high as $146.90.

Source: Yahoo Finance - Stock Market Live, Quotes, Business & Finance News
 

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