np20412

An interesting fact that maybe not everyone knows. This country uses just about 21 million barrels of oil PER DAY. The strategic petroleum reserve is only 700 million barrels. How long do you think it can really last? Granted that the SPR is not our only source of oil right now, if it was, we wouldn't last more than 40 days. But just think, we only produce 7.2 million barrels a day in this country, and import MUCH more. This is a real problem we have on our hands, and I agree with rominl's "disaster" theory.

*All Information courtesy of The Wall Street Journal*

LexFather

Gas is now $3.15 a gallon for regular, $3.35 for premium in Atlanta.

chicagoblknazn

I wonder how these gas prices are going to affect the airlines industry, as that gas is pretty expensive as well. Anyone know if the prices of air travel have increased and been passed on to the travelers?

np20412

Certain airlines have already taken measures by increasing their fuel surcharge and passing it on to the consumer by as much as a $20 increase in ticket prices. I think American Airlines and United are two of the few that have done so already, I don't remember the exact details but there was an article in the WSJ last week I believe.

BigMoNYC

Passed by one station here in Brooklyn, NY and to my surprise... $3.68 a gallon!!!!!!! Other stations are ranging from $3.27 and up. My GS will officially stay in the garage till this cools over. Even when it does cool over, i think the prices will still be ridiculous. Once gas hit $2.50 a gallon it was unjustifiable. Time to consider 4 cylinder cars or hybrids!!!!!

MongolKhan

Many pipes that distribute oil, have been broken by kathrina, so gas prices wont go down anytime soon and many gas stations here running out of gas, so fill up your tanks, gas cans, bottles , whatever. Our company owns 167 gas stations and 60 of them ran out of gas.

Pretty soon we'll be doing this for gas.

-J-P-L-

$3.20 for regular and $3.70 for premium here in southeastern Mass.

chicagoblknazn

Has anyone been doing the umentionable around here..............










































putting 87 octane in their car?

MongolKhan

Not in my SC.
But my other car is 4Runner which i fill up with 87 and my SC got better gas mileage than 4Runner, dilemma..............................

cal_alum98

The Strategic Reserve isn't meant to be a substitute for our normal oil supplies; it's only an immediate band-aid to mitigate a sudden disruption of oil supplies. Hopefully the pipelines will be restored to full operation soon.

In the meantime, I'm doing what I can to avoid the inflated gas prices by taking public transit.

RON430

Price of oil per barrel is certainly a part of the problem but before Katrina decided to blow in, we knew we were running at about full refining capacity. Nobody here runs anything on crude oil for transportation so the price of it per barrel is not totally useful to sort out the issues. It has to be refined. So you combine the wiping out of of a bunch of oil and gas rigs in the gulf, closing of several big refineries, and the shutdown of a major pipeline from Baton Rouge up to the Northeast and you have supply stopped. Free markets and all that, limited supply with unlimited demand and prices move up. I wouldn't mind seeing a windfall profits tax implemented (I doubt W has the smarts, the will [still has a lot of friends making money in the oil biz], or the guts to do that) but a gas station operator is pricing his inventory partially on what it will cost him to replace it. Once he pumps his tanks dry, he is going to have to pay whatever he has to to refill them and for now that is very uncertain.

In case any W do or die supporters are going to dump on me, I fully acknowledge that W did not make this problem. Well, maybe a I could argue that a bit but we'll let it go. While W may not have made the problem he darned well better be part of the solution, for a lot of things other than gas prices. And flying over in his 747 and saying it takes a while for boats to float there is not good enough IMO. We can fly two rescue subs to the Russians in 24 hours but can't get bottled water and MREs to tens of thousands of people on a bridge in NO in less than a week. Unbelievable.

Filled up with premium in SJ on Monday for 2.91 a gal and it is now 3.17. Not too bad, considering. I guess no one here is going to place their order for an M5 or H3 this weekend.

np20412

Saw the worst today....$3.99 for premium at TWO stations. I was awed.

chicagoblknazn

The world is coming to an end.

I hope this doesn't last too long, because if it does, I'll have to move within city limits and really consider giving up the GS.

rominl

iTrader: (4)

at least you got a commuter. i got the gs400 and sc430. either way i lose @_@

chicagoblknazn

I can help you out a little Henry. You give me that SC430 and you can have my GS3. It will use alot less gas then both of your cars and we'll both be happy.

So wadda ya say?