Do you understand the meaning of "fungible"?
Paid Over $4 For Gas Today
- Thread starter cawacko
- Start date
Schadenfreude
patriot and widower
yes, there is no shortage - the price is all about fear and speculation
the saudis have already offered to cover any shortfalls
of course the oil would have to go through the suez
apple0154
MEOW
Using "fungible" in a sentence one could say, "The local stripper is fungible."
cancel2 2022
Canceled
Diesel is nearly £1.40 a litre here now!!
Canceled.LTroll.21
Banned
Definition of POSSIBLY
1: in a possible manner : by any possibility <that's all she could possibly do>
2: by merest chance : perhaps <possibly he will recover>
3: it is possible or imaginable : conceivably <a political libel which may possibly damage me — G. B. Shaw>
See possibly defined for English-language learners »
Examples of POSSIBLY
<he may possibly recover after such a serious mistake, but it doesn't seem likely>
Mott the Hoople
Sweet Jane
One of the smartest things I ever did was to lessen my dependence on oil. I moved to practically within walking distance of work. I own two cars one new, one late model and I had less then 10k miles combined mileage on them last year. I spend an average of $100/month on gasoline. That's one full tank per car per month. My goal this year is to put more miles on my bicycles (4 to 5,000 miles) then on my primary car.
I'm saving money and staying fit!
Oh yea....and all that money I've been saving on gas I've stuck into my retirement fund and investment portfolio. That's an extra $3 grand a year! That should roll over to about an extra $100,000 by the time I retire.
Topspin
Verified User
Personally I think you should thank Jah that it's still as low as $4. It will be much higher soon. You can thank Democrats in congress and your libtard friends when you see them.
If a real threat to our supply happens $5 will look very cheap.
And yes we make killer paper with prices so high.
If a real threat to our supply happens $5 will look very cheap.
And yes we make killer paper with prices so high.
Topspin
Verified User
We do, what is amazing is that you and any other college educated libtard don';t realize that is basic economics.
Nike would charge you a million for sneakers if you would pay it.
This (the price of gasoline and diesel) is one thing that could very well affect (in a negative fashion) any sort of economic upturn. In a country so sprawled out as we are in the US, any sort of shipping will have to be paid for by the consumer. So much of our stuff is shipped via the trucking industry. They can't help but raise the prices of things like groceries and such to cover the extremely high fuel prices. As is always is the case, who does this effect the most....the poorer in our society. Also the guy who has to drive to a minimum wage or low-paying job is going to have far less left over at the end of the week after paying for his fuel. I have thought more about the effect of higher fuel prices lately than anything. It is really going to hurt the most vulneralbe in our society. What is going on in Wisconsin pales in comparison. I have said all along we need to, as a country, get off the mid-eastern oil tit.
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The Almighty
except you are incorrect. It is not big oil that sets oil prices. It is trading based on two things:
1) current supply/demand
2) Future expectations of supply/demand
That is and always has been how it has been priced....
It is manipulated by oil producing countries based on their output levels.
Big oil is simply the scape goat many (especially on the left) love to beat to death.
That said, you know my position on eliminating our dependency on foreign energy as much as possible.
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The Almighty
Stupid question. Oil is fluid. It doesn't matter who actually buys oil from libya and Egypt. If a part of the supply is disrupted do you think those that buy from Libya simply stop buying that oil? Or do they go to someone else?
Anytime supply is disrupted the price escalates as the supply/demand equation has been altered.
I'm sorry if you think I am nuts thinking that the prices of fuel are extremely high. They are. A lot of folks can't afford to fill up thier tanks now. And I do agree, I think the prices will go higher.....and things will get tougher on working families and poor folks. The difference is that I think it is a sad thing and you think it is a good thing. Different strokes I guess....
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The Almighty
No, this is incorrect. Oil prices are set on a global level. The only differences in the end gasoline price are due to:
1) taxes on gas
2) distance it has to be transported
The oil companies all essentially sell oil based on the futures market. They set contracts and then deliver on those contracts.
Also, you and Nigel are both wrong. They neither want oil cheap, nor do they want it too expensive.
Too cheap and they do not recover production costs.
Too expensive and they risk demand destruction and increased economic viability of alternatives.
Oil companies want to stay around fair value and keep it as stable as possible. Currently fair value is in the $75-80brl range. It is currently being driven up due to instability in Mid East.
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The Almighty
One of the smartest things I ever did was to lessen my dependence on oil. I moved to practically within walking distance of work. I own two cars one new, one late model and I had less then 10k miles combined mileage on them last year. I spend an average of $100/month on gasoline. That's one full tank per car per month. My goal this year is to put more miles on my bicycles (4 to 5,000 miles) then on my primary car.
I'm saving money and staying fit!
Oh yea....and all that money I've been saving on gas I've stuck into my retirement fund and investment portfolio. That's an extra $3 grand a year! That should roll over to about an extra $100,000 by the time I retire.
True.... but you also live in Ohio.... so you are still an idiot.
Topspin
Verified User
Of course I say it half in jest and half as a wake up call. We have billions of barrells untapped. Will that keep oil under $200, it's already too late. But the earlier you decide to have an educated energy policy the sooner the entire economy will not be dependent on ME thugs to keep chugging along.
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The Almighty
Conservatively when oil increases by $10 brl, you can subtract about 0.25% from annual GDP growth. Thus, if we stay around $100brl for any extended period, then the market will adjust based on the 0.5% in expected growth that will be taken away from estimates two months ago.
As for the low and middle income families, the inflation we are seeing right now in energy, clothing and food is going to crush their spending capabilities for discretionary items.
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The Almighty
The conundrum is that we cannot have $200 oil. We saw the demand destruction that took place in 2008 when oil hit $148. The global economy cannot afford that level. $100 is pushing the affordability factor and the max level before demand destruction starts creeping back into the equation.