Whats your (HELL NO NUMBER)?
06-03-18 | 12:02 AM
#32
Lexus Fanatic
Joined: May 2012
Posts: 58,376
Likes: 2,793
From: Maryland
Gas isn't going back to $5 a gallon anytime soon.
I made out like bandit last time when fuel prices were really high. I traded our Prius in on a Jeep Grand Cherokee. Carmax gave me stupid money for the Prius and I got a great deal on the Jeep. I happily went from $30 fill ups in the Prius to $80 for the Jeep, because the Prius sucked.
I like cars, I'll spend on the gas.
I made out like bandit last time when fuel prices were really high. I traded our Prius in on a Jeep Grand Cherokee. Carmax gave me stupid money for the Prius and I got a great deal on the Jeep. I happily went from $30 fill ups in the Prius to $80 for the Jeep, because the Prius sucked.
I like cars, I'll spend on the gas.
06-03-18 | 04:33 AM
#33
Lexus Fanatic
Joined: Oct 2003
Posts: 91,715
Likes: 89
From: Virginia/D.C. suburbs
spilling some oil in the middle of the arabian desert is not a big deal. pumping millions upon millions of gallons of oil into the gulf of mexico is criminally disastrous. petty individuals who support risking major catastrophes in order to keep a little extra pocket change are self-indulgent and hollow and empty inside.
06-03-18 | 04:38 AM
#34
Lexus Fanatic
Joined: Oct 2003
Posts: 91,715
Likes: 89
From: Virginia/D.C. suburbs
In general, that's correct, though we could see a temporary spike if (let's hope this doesn't happen) another storm like Harvey or Katrina comes along and damages the refineries or rigs on the Gulf Coast. Last year's North Atlantic hurricane season was exceptionally violent, and a repeat is not likely this year, but, of course, cannot be ruled out.
06-03-18 | 12:47 PM
#35
Instructor
Joined: Oct 2016
Posts: 857
Likes: 47
From: Oregon
Back a decade or two ago when the pundits claimed we were at "peak oil" (meaning it was gradually running out) the previous administration said their policy was to find alternatives and that their desired policies meant that gasoline prices "would necessarily skyrocket."
Without any federal help some innovators over the past decade discovered and refined (ha!) the process of fracking, and now we are not only awash in cheap oil but the entire world (which is not yet fracking) will be for many decades to come.
I've come to the conclusion that $100 oil is not to return, except in exceptional situations and for a brief time. The US now produces 10.5 MILLION barrels per day, twice as much as just a decade ago and second only to the Saudis. Just one region, the Permian Basin in West Texas, outperforms all but a few of the top OPEC countries. I think oil will generally hover around $60 a barrel for decades. It's temporarily slightly higher than that now but trending back downward.
So this implies a net gasoline cost of slightly under $3 a gallon in the States long-term. And fortunately the US is importing less and less oil. I'd always thought we were at great risk if some folks decided to block the seaways around the Horn of Africa and tanker traffic ceased. Now, not much downside, to the US at least.
As for household expenses, it's important to look at the past only after adjusting for inflation. The $0.30 gasoline from my youth was really more like $3 once you look at it in context with wages and other numbers from that era. And I think the standard of living has gradually been rising over the decades. Who would have imagined 50 years ago that even a modest household would have a 50" flat-screen TV and $500 smartphones with more processing power than the computers used in the Apollo program? Remarkable.
Getting back to the topic, my car gets in the high-20's. Switching to an econobox wouldn't save me that much even if gas were $5.
Without any federal help some innovators over the past decade discovered and refined (ha!) the process of fracking, and now we are not only awash in cheap oil but the entire world (which is not yet fracking) will be for many decades to come.
I've come to the conclusion that $100 oil is not to return, except in exceptional situations and for a brief time. The US now produces 10.5 MILLION barrels per day, twice as much as just a decade ago and second only to the Saudis. Just one region, the Permian Basin in West Texas, outperforms all but a few of the top OPEC countries. I think oil will generally hover around $60 a barrel for decades. It's temporarily slightly higher than that now but trending back downward.
So this implies a net gasoline cost of slightly under $3 a gallon in the States long-term. And fortunately the US is importing less and less oil. I'd always thought we were at great risk if some folks decided to block the seaways around the Horn of Africa and tanker traffic ceased. Now, not much downside, to the US at least.
As for household expenses, it's important to look at the past only after adjusting for inflation. The $0.30 gasoline from my youth was really more like $3 once you look at it in context with wages and other numbers from that era. And I think the standard of living has gradually been rising over the decades. Who would have imagined 50 years ago that even a modest household would have a 50" flat-screen TV and $500 smartphones with more processing power than the computers used in the Apollo program? Remarkable.
Getting back to the topic, my car gets in the high-20's. Switching to an econobox wouldn't save me that much even if gas were $5.
06-03-18 | 05:43 PM
#36
Intermediate
Joined: Mar 2006
Posts: 334
Likes: 2
From: ga
Back a decade or two ago when the pundits claimed we were at "peak oil" (meaning it was gradually running out) the previous administration said their policy was to find alternatives and that their desired policies meant that gasoline prices "would necessarily skyrocket."
Without any federal help some innovators over the past decade discovered and refined (ha!) the process of fracking, and now we are not only awash in cheap oil but the entire world (which is not yet fracking) will be for many decades to come.
I've come to the conclusion that $100 oil is not to return, except in exceptional situations and for a brief time. The US now produces 10.5 MILLION barrels per day, twice as much as just a decade ago and second only to the Saudis. Just one region, the Permian Basin in West Texas, outperforms all but a few of the top OPEC countries. I think oil will generally hover around $60 a barrel for decades. It's temporarily slightly higher than that now but trending back downward.
So this implies a net gasoline cost of slightly under $3 a gallon in the States long-term. And fortunately the US is importing less and less oil. I'd always thought we were at great risk if some folks decided to block the seaways around the Horn of Africa and tanker traffic ceased. Now, not much downside, to the US at least.
As for household expenses, it's important to look at the past only after adjusting for inflation. The $0.30 gasoline from my youth was really more like $3 once you look at it in context with wages and other numbers from that era. And I think the standard of living has gradually been rising over the decades. Who would have imagined 50 years ago that even a modest household would have a 50" flat-screen TV and $500 smartphones with more processing power than the computers used in the Apollo program? Remarkable.
Getting back to the topic, my car gets in the high-20's. Switching to an econobox wouldn't save me that much even if gas were $5.
Without any federal help some innovators over the past decade discovered and refined (ha!) the process of fracking, and now we are not only awash in cheap oil but the entire world (which is not yet fracking) will be for many decades to come.
I've come to the conclusion that $100 oil is not to return, except in exceptional situations and for a brief time. The US now produces 10.5 MILLION barrels per day, twice as much as just a decade ago and second only to the Saudis. Just one region, the Permian Basin in West Texas, outperforms all but a few of the top OPEC countries. I think oil will generally hover around $60 a barrel for decades. It's temporarily slightly higher than that now but trending back downward.
So this implies a net gasoline cost of slightly under $3 a gallon in the States long-term. And fortunately the US is importing less and less oil. I'd always thought we were at great risk if some folks decided to block the seaways around the Horn of Africa and tanker traffic ceased. Now, not much downside, to the US at least.
As for household expenses, it's important to look at the past only after adjusting for inflation. The $0.30 gasoline from my youth was really more like $3 once you look at it in context with wages and other numbers from that era. And I think the standard of living has gradually been rising over the decades. Who would have imagined 50 years ago that even a modest household would have a 50" flat-screen TV and $500 smartphones with more processing power than the computers used in the Apollo program? Remarkable.
Getting back to the topic, my car gets in the high-20's. Switching to an econobox wouldn't save me that much even if gas were $5.
06-03-18 | 09:16 PM
#37
not sure your point, but riredale's post is completely relevant to gas costs.
great post riredale although one question... i thought a lot of oil produced in the u.s. isn't the best for or can't be refined for gasoline, so doesn't help as much as it might?
what we need in this country though is big incentives for cng cars and conversions.
great post riredale although one question... i thought a lot of oil produced in the u.s. isn't the best for or can't be refined for gasoline, so doesn't help as much as it might?
what we need in this country though is big incentives for cng cars and conversions.
Last edited by bitkahuna; 06-04-18 at 06:26 AM.
06-04-18 | 08:25 PM
#38
Intermediate
Joined: Mar 2006
Posts: 334
Likes: 2
From: ga
and yet you completely contradicted your own personal opinion with your own question
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