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Nzoner's Game Room>Gasoline over $4 coming to a pump near you because this thread is ass
Donger 08:40 AM 04-23-2007
http://www.bloomberg.com/apps/news?p...d=afOlUzd30YOo

Pretty alarmist, IMO, but possible.

Spoiler!

[Reply]
Chief Pagan 05:34 PM 03-07-2022
Originally Posted by Bwana:
I think we will be looking at that price as a bargain, in the near future. I have no idea where the price is going to top out this go around per barrel. $170, $180, $190, $200? Who knows, but it's going to be ugly.
The economy isn't as tied to oil as it was in say the 70's, but an oil shock is ugly

For some things, demand is inelastic, but for other things demand will come down. Consumers will fly and drive less.

Maybe some commuters will go back to public transport and/or worry about a higher mileage vehicle.

Cargo ships will travel at slower speeds.

Maybe more goods will move by rail not truck.

But for geopolitical reasons, reducing the economy's dependence on oil is a good goal because of things like Russia and the Middle East is always a ticking time bomb.

A few things could be done quickly like getting public transport back to pre covid levels but most of this will take some time.
[Reply]
'Hamas' Jenkins 05:59 PM 03-07-2022
Originally Posted by Chief Pagan:
The economy isn't as tied to oil as it was in say the 70's, but an oil shock is ugly

For some things, demand is inelastic, but for other things demand will come down. Consumers will fly and drive less.

Maybe some commuters will go back to public transport and/or worry about a higher mileage vehicle.

Cargo ships will travel at slower speeds.

Maybe more goods will move by rail not truck.

But for geopolitical reasons, reducing the economy's dependence on oil is a good goal because of things like Russia and the Middle East is always a ticking time bomb.

A few things could be done quickly like getting public transport back to pre covid levels but most of this will take some time.

[Reply]
sedated 06:37 PM 03-07-2022
Originally Posted by Chief Pagan:
The economy isn't as tied to oil as it was in say the 70's, but an oil shock is ugly

For some things, demand is inelastic, but for other things demand will come down. Consumers will fly and drive less.

Maybe some commuters will go back to public transport and/or worry about a higher mileage vehicle.

Cargo ships will travel at slower speeds.

Maybe more goods will move by rail not truck.

But for geopolitical reasons, reducing the economy's dependence on oil is a good goal because of things like Russia and the Middle East is always a ticking time bomb.

A few things could be done quickly like getting public transport back to pre covid levels but most of this will take some time.
I dont have stats but would think fewer people are commuting to work than any time in the last 50 years. Forbes quoted that under 4% of jobs were remote before 2020 and that's up to 15% now, with more increases expected.
[Reply]
Donger 07:00 PM 03-07-2022
New record: $4.14
[Reply]
Munson 08:41 PM 03-07-2022

Russia warns West of $300 per barrel oil, cuts to EU gas supply https://t.co/zfBr9zYxdk pic.twitter.com/eFyAHMFEXX

— Reuters (@Reuters) March 8, 2022

[Reply]
TLO 08:42 PM 03-07-2022
Originally Posted by Munson:

Fuuuuuuuuuuuuuuuuu
[Reply]
wheeler08 08:54 PM 03-07-2022
NW IN was $4.39 today. It was $4.09 earlier today. It was $3.39 just a week
Or two Ago
[Reply]
displacedinMN 08:55 PM 03-07-2022
Originally Posted by TLO:
Fuuuuuuuuuuuuuuuuu
we had russia on the ropes with low oil prices
[Reply]
Munson 07:16 PM 03-08-2022
$3.79 in Olathe.
[Reply]
Hog's Gone Fishin 08:07 PM 03-08-2022
4.49 to 4.89 for Diesel in Amarillo
[Reply]
penguinz 08:09 PM 03-08-2022
Originally Posted by Hog's Gone Fishin:
4.49 to 4.89 for Diesel in Amarillo
Better get JR Ewing on the phone. He is a magician on getting Texas oil wells back up and running.
[Reply]
Chief Pagan 08:37 PM 03-08-2022
Originally Posted by sedated:
I dont have stats but would think fewer people are commuting to work than any time in the last 50 years. Forbes quoted that under 4% of jobs were remote before 2020 and that's up to 15% now, with more increases expected.
High gas prices will no doubt result in more 'office' workers pushing to work from home more of the time.

No doubt the number of miles Americans drive this summer will be down from what it could have been.

And EVs will get more attention.
[Reply]
Chief Pagan 08:38 PM 03-08-2022
Originally Posted by displacedinMN:
we had russia on the ropes with low oil prices
They call it a boom and bust industry for a reason.
[Reply]
notorious 08:39 PM 03-08-2022
Check out the heating oil contracts.


Easy money.
[Reply]
Coochie liquor 08:40 PM 03-08-2022
Originally Posted by penguinz:
Better get JR Ewing on the phone. He is a magician on getting Texas oil wells back up and running.
Isn’t he dead? :-):-)
[Reply]
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