Stop worrying about gas prices.

[stu]

I'm kind of sick of repeating myself, so I'll just link you the articles where I get the facts. I bet my cousin that we wouldn't see $4.00 a gallon by December. I don't think we will. If you really want to know what's going on, as opposed to watching the neo-malthusiast reports on the news (they are horribly spun) then read these two articles. The first one is a PDF file that is about 20 pages long (and I'm sure no one will read it, and continue to bitch about gas prices), the second one is an article that is only a few days old. Enjoy, and relax a little.

http://www.colorado.edu/Economics/vjcourses/resource/cornucopia.pdf

http://www.rockymountainnews.com/drmn/news_columnists/article/0,1299,DRMN_86_4051709,00.html

Let me know if you have any questions or need anything cleared up. I know a little more about this than the average person I *think, but not too much.

[Steve_C]

i think one of our new members posted about this last week

edit: found it, it's along the same lines
http://www.highaltitudeimports.com/showthread.php?t=32816

[6MT&LSD]

gas prices did hit a record high (1920-present), prices adjusted for inflation.

the article mentions just what's possible... it'll take a long time and effort to actually make this happen, and it'll only happen if the economists project an even higher gas price (say, $5 like europeans), or unless they come up with a technology that will reduce the production cost.

like one of the articles said, if they do invest in this, and gas prices drop, then it would have a severe, negative impact on the local/regional economy.

anyway, gas prices have stabilized, and will soon drop a bit... there are lawmakers stepping in to somehow block price-gouging, which is why gas prices go up more than they should.

for now, switch your creditcard to Citi or some sort of rewards card... 3-5% back on gas, 1% on everything else.

[stu]

Did you even read the second article?

[6MT&LSD]

Edit: I'm assuming you're referring to the second article stating that we're not at the all time high yet.

SOURCE: US Energy Information Adminstration

US. Average price per gallon of regular gasoline.

1920:
$0.30/gallon = $2.78/gallon
1981:
$1.38/gallon = $2.83/gallon

MONDAY:
$3.07

The price is adjusted for inflation in 2004 dollars.

[stu]

I meant the part about it being economically efficient right now. I believe that we just peaked the highest in history, but I am curious to see how long those prices lasted.

[Brian]

Isn't Korea releasing almost 3 million barrels to help the US anyway?

[David]

I filled up my car with gas after school today, I nearly shit myself, $4 more than I spent last time i filled up...there goes my grande coffee.

god help us (me)

[JL LGT]

Although I have to use 91.... it's not that bad really.

Now @ 5+$ a gallon.... that could put a damper on my other amenities!

[6MT&LSD]

Isn't Korea releasing almost 3 million barrels to help the US anyway?

They're among the "developed" nations who are releasing 60 million barrels... it pays to be the bully, I guess.

[LeonZ]

Most people also don't realize that we will never run out of oil. There are more known oil reservoirs than there were 30 years ago. There are more oil in Colorado than people realize. There is an oil lake in Saudi Arabia with a diameter of 30 miles which hasnt been touched.

[myshtern]

I filled up my car with gas after school today, I nearly shit myself, $4 more than I spent last time i filled up...there goes my grande coffee.

god help us (me)
Problem is though, that your coffee will be more expensive because the beans were more expensive to fly in from South America. The examples are endless.

I'd read your articles Stu, but firefox freezes on me everytime I open something PDF.

[smithz]

Most people also don't realize that we will never run out of oil.
Never is a long time Leo...

All we have to do is make what we have last until all the old people in florida become fossilized and then turned into oil...

[Aracheon]

Never is a long time Leo...

All we have to do is make what we have last until all the old people in florida become fossilized and then turned into oil...


That's not such a good idea. What happens when you run someone's neglected and forgotten grandpa through your car?

That old fucker is gonna get his revenge on someone... that's what. :D

[smithz]

That's not such a good idea. What happens when you run someone's neglected and forgotten grandpa through your car?

That old fucker is gonna get his revenge on someone... that's what. :D
It's no different than the millions of dinosaurs grandpas we have been burnin thus far...