Gas Prices Head Towards $5.00/Gallon

[Quail]

We already pay over $5 per gallon.

Still gotta get to work. Still gotta drive! Public transport is more expensive than driving yourself. Changes nothing for me in day to day life, although less money leftover from fuel bills means I don't get to enjoy my fun car as much, ie the S14.

[axiomatik]

Originally Posted by NissanEnthus

Isnt that F&^$#*n insane bullshit that the price goes up for any stupid reason they command which raises the barrel price but the Oil Companies record BILLIONS in profit every quarter!!

The oil companies rake in huge profits when oil goes up, but they aren't really to blame for the prices. Oil is a publicly traded commodity (like gold, or currencies, etc), so it's price varies like the stock market. If investors think that demand might outstrip supply, the price gets bid up. If there is too much capacity, prices fall.

Originally Posted by holemilk00

Read what I said earlier. Those countries that pay so much more than we do, do so because they have no domestic production. Did you know that the US produces enough oil to be self sustainable? The problem is its too profitable for those companies to sell that oil to countries that other oil producing countries won't do business with than to keep it in the states. Even still, of our oil consumption 51% of it is domestically produced, out of the 49% left, less than 17% of that comes from northern Africa (Libya) and less than 9% comes from the middle east. We import most of our oil from Canada. These numbers were form a HLN story on two nights ago. I DVR'd it to show my dad.

Countries don't pay a higher price depending on whether or not they have any oil production. No matter where you are in the world, the price of a barrel of oil is roughly the same, because it is traded on the global oil commodity market. Producers offer their oil on the market, and it is bought at whatever price oil happens to be that day. Oil producers don't set the prices, the commodity market does.

2nd, the US doesn't produce nearly enough oil to satisfy domestic consumption. The US consumes about 20 million barrels a day of oil, but only produces 8 million bbl/day. That means the US imports 2/3rds of the oil we consume. Oil production in the US has been falling since the 1970s as the easiest oil to get to has been consumed. Oil is getting harder and harder to extract in the US, requiring more technology, and higher oil prices to make it economical.

The largest source of our imported oil is indeed Canada. However, this is a recent phenomenon that only occurred once Canada started widespread extraction from the tar sands. Back when oil was $30/bbl, it wasn't economical to extract oil from tar sands. It was not too long ago that Saudi Arabia was the largest exporter to the US. Mexico also used to be a much larger exporter to the US, but Mexico's oil production has fallen drastically in the last couple years.

[blitzsti22]

starting to ride my ruckus more often

[holemilk00]

Originally Posted by axiomatik

The oil companies rake in huge profits when oil goes up, but they aren't really to blame for the prices. Oil is a publicly traded commodity (like gold, or currencies, etc), so it's price varies like the stock market. If investors think that demand might outstrip supply, the price gets bid up. If there is too much capacity, prices fall.

Then how do you explain that we are at record prices at the pump, but more than 20% lower than the record price per barrel? Oil and other commodities are influenced more by speculation than actual trading, its the main point on the agenda for the CEC right now. They are having a conniption fit about it.

Originally Posted by axiomatik

Countries don't pay a higher price depending on whether or not they have any oil production. No matter where you are in the world, the price of a barrel of oil is roughly the same, because it is traded on the global oil commodity market. Producers offer their oil on the market, and it is bought at whatever price oil happens to be that day. Oil producers don't set the prices, the commodity market does.

You can't believe this first sentence to be true?? You really think it doesn't matter if you produce any of it domestically? If you think all oil is traded on the global oil commodity market then how is it that you can buy it on the US commodity market? All oil is not on the global market, only exported oil is.

Originally Posted by axiomatik

2nd, the US doesn't produce nearly enough oil to satisfy domestic consumption. The US consumes about 20 million barrels a day of oil, but only produces 8 million bbl/day. That means the US imports 2/3rds of the oil we consume. Oil production in the US has been falling since the 1970s as the easiest oil to get to has been consumed. Oil is getting harder and harder to extract in the US, requiring more technology, and higher oil prices to make it economical.

I accept this, I meant to say that oil production in North America meets consumption. So you are correct in your rebuttal.

Originally Posted by axiomatik

The largest source of our imported oil is indeed Canada. However, this is a recent phenomenon that only occurred once Canada started widespread extraction from the tar sands. Back when oil was $30/bbl, it wasn't economical to extract oil from tar sands. It was not too long ago that Saudi Arabia was the largest exporter to the US. Mexico also used to be a much larger exporter to the US, but Mexico's oil production has fallen drastically in the last couple years.

This really depends on what you consider recent, Canada has been our leading importer of oil for over a decade now. Brazil is about to ramp up production and will quickly surpass them if the projections of their untapped fields are correct.

[boobs13]

The 240 is going into the garage when socal goes over $5.00 a gallon.

I'm already paying $4.30 a gallon and I don't even get half tank with 20 dollars anymore.

[stiizy]

Originally Posted by enkei2k

probably won't change much for me. i take public transportation to work Mon-Fri and only take my car out on Saturdays and drive to my girlfriends house and back most of the time (~5 miles total). Once in a while, I want to go somewhere else (Jersey, PA, etc) but I'm more concerned about the tolls at that point. $11 dollars to cross a damn bridge to get out of NYC and $6 to come back in.

What bridge is 11??? and it's $8 to come into the city now through the tunnels and GW...


The Cayenne will be a 8000 pound paperweight if it gets that high..i will not go anywhere, but i only drive on weekends i commute to work so gas lasts a while..

[Gnnr]

The only way I'll change my driving habit is to organize myself to leave on time for work. When I'm running late I tend to drive in a way that kills my MPG.

Originally Posted by ronmcdon

Yeah, but chances are 'other countries' especially if it's the eurotrash,
have much better mass transit & shorter driving distances than socal.

The argument that 'such & such' country has higher gas prices is moot unless you take into account other factors.

Not to mention the Euro is worth more than the Dollar and if you work in Europe you're paid in Euros.

Originally Posted by holemilk00

Read what I said earlier. Those countries that pay so much more than we do, do so because they have no domestic production. Did you know that the US produces enough oil to be self sustainable? The problem is its too profitable for those companies to sell that oil to countries that other oil producing countries won't do business with than to keep it in the states. Even still, of our oil consumption 51% of it is domestically produced, out of the 49% left, less than 17% of that comes from northern Africa (Libya) and less than 9% comes from the middle east. We import most of our oil from Canada. These numbers were form a HLN story on two nights ago. I DVR'd it to show my dad.

Link to video or story? Or what was the title so I can see if they'll rerun it and I'll DVR it.

[1on1]

Originally Posted by 1337

honeybadger don't care

this......

[spooled240]

Originally Posted by boobs13

The 240 is going into the garage when socal goes over $5.00 a gallon.

I'm already paying $4.30 a gallon and I don't even get half tank with 20 dollars anymore.

i paid 4.32 in pomona today and got my quarter tank for 15 bucks lol

gas hasn't really affected how often i drive, i usually put around at super low rpms anyway lol

[HyperTek]

anyone else considering HHO hybrid? Of course though if the ECU does not change the fuel map, there are ways of turning it down with added chips /o2 spacers etc

There are alot of turds on youtube trying to sell you kits though but plenty of info out there to do it.

http://www.hhoforums.com/

[theicecreamdan]

I'm probably riding my bike 25+ miles to work/school tomorrow

[ronmcdon]

idk about 'HHO' or whatever hybrid, I'm just skeptical replacing those super-expensive batteries on say the Prius or the Insight.

My family has 08 civic hybrid that I use often.
good thing is that it's been pretty reliable up the 54k miles it has so far.
it's also fun to drive, since a lot of the handling performance parts from the civic Si bolts right up & is cheap.

Unfortunately, I've only been able to average 30 mpg at best.
Really not quite sold on hybrids, esp how efficient the batteries are over the long run.
rather opt for a fuel efficient & reliable older civic or corrolla.

a ruckus or some other homo-erotic moped would be fun,
but probably not so practical in places like socal with a lot of freeways.

[Matej]

It was neat when fuel prices climbed quite high a few years ago and the roads were noticeably emptier that summer.

My Nissan 240SX gets great gas mileage. I will drive it more.

[smoked240]

I only drive to school each day so it's not so bad, I only use up 1/4 tank in my truck each week. driving 24 miles each day so it's alright. I'm not excited about driving my 240 after the swap. I just hope I can get somewhat decent mileage with it. Is it possible to run 87 octane on an rb25? I would be willing to run it if it won't affect anything. I'm not too worried about power at the moment, Just something to get me around. If it will run terrible I won't even think about running it.

[CleanAndLegit]

i commute from moreno valley to la every other day i think ill just drive slower, and keeep my 240 sitting for special nights aha i gotta finish it anyway in the garage itll go!

[erikshift]

Probably trade the truck in for a smaller car or just buy a scooter, but not really necessary since me and the wife both work less than 3 miles from home.

[tqstarburst]

Premium in el paso is aboug 3.67 right now. It won't hurt me much if it goes to 4 bucks since school is almost over in may and that'll save me 30 miles per day. Luckily work is 5 miles away from me.

[Teddy]

I've already changed my driving habits by going to meets much much much less often. I used to go to at LEAST one meet per week, now I don't even think I'm going to one per month. I only drive when I absolutely need to.

[getagrip]

I drive like a grandma right now, I can't save my money if I'm spending it all on gas. I'm hoping it won't get to rediculous later on, but I'm a dreamer.

[Gizmo_S13]

I already changed my driving habits, on the freeway I only go 60-65mph, 55 if someone else is going that slow, and I cruise on the streets.
I put 28 dollars today and I only got a little less than half.

[singlecamslam]

Blame Lybia.. haha. Scooters are rad. 60 mpg highway legal, forget about it

[ranger240]

Originally Posted by dudermagee

I'll be going for a drive to the houses of the CEO's for ExxonMobile and ConocoPhillips.

Don't be surprised when at the end of this fical year they have record profits again.

right on man... its those dag nabit companies at fault, not increasing global demand coupled with diminishing supply

we should tax the hell outta those greedy companies profits. that way in 10 years when demand is even higher and supply is even more taxed, we'll surely have more supply than we would if the companies had more $$ to reinvest into furthering production and enhance R&D of better extraction technology (i.e. oil shale).


What we really should do is reinstate a price ceiling on gas prices
that worked really well back in the 1970s.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
an average car gets lets say 20mpg and drives 10,000/year@$5.00=2,500 bucks,

median income in the U.S. is north of 50,000 bucks

bottom line its 5% of peoples income (10% at 25,000/year in income)...

[Pure_JDM]

I'll just sit back and laugh. I bought a new Harley a year ago this month, and I average 55 mpg. I have a 45 mile daily commute to school/work from home. It saves me MORE money in gas alone (from my truck) than the bike note + the insurance + the fuel the bike consumes. The higher the gas goes, the higher my "savings margin". Yeah, I'm spending MORE the higher it goes, but I'm saving MORE as well. The commute is inevitable; it just makes sense to own a motorcycle in my current situation.

[beeracing s14]

if another cash for clunkers happens, ill trade in my 240.

[HyperTek]

ignore the fact they trying to sell the kit..



Of couse your not going to replace fuel, just making enough hydrogen to allow the fuel mixture to decrease .
I believe your going to need to comphesate for the ecu though, there are ways to do it, This is usually done to regular cars though, if you have like a safc though it would probably be easier.

[SimpleS14]

Originally Posted by articdragon192

I won't. Work is 30 miles away. If anything, I'd change my money spending habits.

I'm following this method as well. Summer is going to be tough since I tend to go out a lot, but I will manage.

[jesse_s13]

bmx bike....

[Future240]

45 min commute to/from work, I burn 1/4 a tank every 2 days. My car barely moves unless it's to go to work so nothing really can be done.

[squatting pigeon]

spending $20 a day to get to my amazing job.
AT A GAS STATION.
makes me die inside a little

[godrifttoday]

We should not worry to much on gas prices. We should be Worried on what gas prices effect such as interest rate and inflation.... That's the real problem!