Oil crosses $60 a barrel - Mercedes-Benz Forum

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post #1 of 11 (permalink) Old 06-27-2005, 11:34 AM Thread Starter
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Oil crosses $60 a barrel

I feel compelled to remind those who might remember that I predicted this would happen right about now, way back when oil crossed the $45 mark, based on what the forecasting models some of my friends work with were saying. These models are generally a little off in predicting the time frames, it has hit $60 a barrel about six or seven weeks later than predicted. These same models now predict $75 a barrel prices by January of 2006.

Look for gasoline futures to start trading in what would be the equivelent of $3.00 a gallon at the pump, probably arriving by September.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
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post #2 of 11 (permalink) Old 06-27-2005, 11:44 AM
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RE: Oil crosses $60 a barrel

The price per barrel and resulting cost per gallon at the pump will have little to no effect on the American consumer in the near term. Only when the "out of gas" signs pop up like we saw in the early '70's will it result in outcry.
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post #3 of 11 (permalink) Old 06-27-2005, 12:06 PM Thread Starter
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RE: Oil crosses $60 a barrel

You are essentially correct - in fact consumption has risen by 3% in the US during the current rise in gas prices - the beginning of an inflation spiral driven by psychology that says I need to burn more of the stuff because it is going to be even more expensive in the future, something that happened to this country before in the hyperinflation days of the late 60s. It is the main reason we will see $100 a barrel oil, because we can discount that government action to reverse this psychology, like mandating SUV milage standards for instance, will happen given the politics of the current admin. That means market forces alone will work its will on the public. I don't think it will take a shortage, there is a price point somewhere where this will break. When it costs over $100 to fill the gas tank in your SUV, then you will take real notice.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
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post #4 of 11 (permalink) Old 06-27-2005, 12:28 PM
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Nonsense!

Quote:
kvining - 6/27/2005 1:06 PM
When it costs over $100 to fill the gas tank in your SUV, then you will take real notice.
I have the answer to stable gas prices. For the last 20 years, I've given the station attedant $20. Gas prices have never affected me.

I must say however, that my mileage is getting really bad these days, I donl;t know what wrong with my vehicles, the three of them are exhibiting the same decrease in mileage. I've run out of gas twice this week already. I don't get it!

Hey, what about spamming people with gas boycots. It's been a while since I've seen them, but it makes sense. Maybe we could influcence all those major oil companies by not going to the gas station one day a week, 14% less sales, that's hurt them big time, hehehe. If they don't understand, we'll spam people advising them to not fill up two days out of the week. Surely 28% drop in sales will get their attentions. Christians could start by not filling up on Sundays.

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post #5 of 11 (permalink) Old 06-27-2005, 12:43 PM
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RE: Oil crosses $60 a barrel

It's all Clinon's fault! If he hadn't been so liberal by getting China into to the WTO and sold them all our technology they wouldn't bee kickin our butts, stealing our jobs, buying all of our God given oil. They wouldn't be flooding our financial institutions with all that low interest money to allow those damn lackies to finance all those stupid condos.
What'll they do when they have to take back all that real estate with no equity in it - become landlords?
No it's Regan's fault! If he hadn't deregulated everything none of this would be possible. Them Chinese would still be weavin straw hats and riding bicycles intead of becoming friendly with Iran and weazelng into the Mideast that we have worked so hard to make in our image.
But hey their kids are listening to Rock-An-Roll - there doomed. It's all hidden in the book of Revelation - Bush has turned his back on Israel, and ya known what that means.
Jerusalem Court Approves International Homosexual 'Gay Pride' Parade through Jerusalem. It's the end . Two headed Dragon BHD/VDude and Mrticket in 2008.
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post #6 of 11 (permalink) Old 06-27-2005, 01:05 PM
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RE: Oil crosses $60 a barrel

...I'm transfixed in an End Daze malaise--let the countdown begin!
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post #7 of 11 (permalink) Old 06-27-2005, 01:49 PM
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RE: Oil crosses $60 a barrel

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post #8 of 11 (permalink) Old 06-27-2005, 01:52 PM
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RE: Oil crosses $60 a barrel

But the media tells me Bush is good................
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post #9 of 11 (permalink) Old 06-28-2005, 04:10 AM
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RE: Oil crosses $60 a barrel

still pumping at $1 per gallon [:D]...lucky me.. right!!!
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post #10 of 11 (permalink) Old 06-28-2005, 10:32 AM Thread Starter
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RE: Oil crosses $60 a barrel

Ya, real lucky. You get to drive to the next pile of sand, cheaply. And how about those cruises downtown to check out the local bitches? I can see them now in their burkas.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
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