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     Rocketsprink |
ALGIERS (Reuters) - OPEC President Chakib Khelil does not rule out oil prices reaching $200 a barrel, even though supply is adequate, because the market is driven by the dollar's slide, Algerian government newspaper El Moudjahid reported on Monday. "Questioned about a possible rise which would go to $200, the minister did not rule out this eventuality, explaining that this rise is from now on indexed to the fall in the dollar or to the rise in the dollar," El Moudhajid reported. "In terms of fundamentals, stocks are high, demand is easing, supply is satisfactory. Therefore normally, without geo-political problems and the fall of the dollar, the prices of oil would not be at this level," he was quoted as saying. Khelil, a former World Bank official, is also Algeria's Minister of Energy and Mines. He added: "The prices are high due to the fact of the recession in the United States and the economic crisis which has touched several countries, a situation which has an effect on the devaluation of the dollar, and therefore each time the dollar falls one percent, the price of the barrel rises by $4, and of course vice versa," he was quoted as saying in brief remarks to journalists on Sunday. Wow. This is scary stuff! | ||
| Black9 |
Gee, I wonder if the major oil producing countries can EAT oil...I think exported grain prices should be "indexed" according to the rise in foreign oil..... | ||
| Court |
Of course that theory will be less effective now that the United States is an importer, rather than exporter, of grain. How fondly I recall the day when the world was begging for Kansas Grade 4 Hard Red Winter Wheat. | ||
| Firebolt32 |
It also doesn't help that our president has his hand in the oil industry as well. Who cares what the value of the dollar is. When oil big wigs 1/4 yr. profits are in the hundreds of million dollars, I find that to be a problem. It's getting to the point to wear I can't afford to drive to work...even on the bike. | ||
| Zane |
But wait a minute. I thought the War in Iraq was just for oil. How's that working for you? The long term answer is to get our economy off of oil. Unfortunately, there isn't going to be one silver bullet replacement. It's going to take wind, solar and when the technology matures, hydrogen. It may also take something that is only now on the drawing boards. Short term we should be drilling domestically for every drop we can find. The Anwar rain deer will just have to cope. We need to drill off the coast of Florida (and I'm a west coast Floridian). And yes, we're gonna have to get more efficient too. When we're able to finally move off of oil (25 years?) then the arabs can eat their oil. | ||
| Buellinachinashop |
The silence from our Gov. about this issue is deaffening. Oil has single handedly held our economy hostage and is one of the leading causes of our financial troubles. I keep reading newspaper editorials how our SYV's are gas hogs and how we should conserve...BS. The Pres of OPEC has even said that none of that will bring the price of oil down. | ||
| Court |
>>>It also doesn't help that our president has his hand in the oil industry as well. It also makes no difference. Just fun talk and a great place to hide from facts. I'm wondering if the entire rest of the globe, whose fuel prices we are but still approaching, have all historically been able to blame the fact that their fuel prices reached economic equilibrium on a political leaders self interests? How do you explain, using the "Bush Theory" fuel prices in Germany, the Ukraine, Japan and Kenya? | ||
| Thumper74 |
I spent $45 to fill up my Focus with 87 octane... Thumper (missing my Jeep, but not the fuel economy) | ||
| Cochise |
Even if we start drilling in Alaska, it would take at least 5 years to see any drop in oil prices. thanks to ethanol, now grain prices are going to kill us. Now (not that I would) we can't go into Costco or Sam's and buy more than 4 bags of rice at a time. | ||
| Buellinachinashop |
"now grain prices are going to kill us." That's partially due to corn farmers going out of business because the Gov. wouldn't help them. Now we need farmers to grow corn and there isn't enough of them to go around. | ||
| Xl1200r |
I agree with the E85 disaster - it's not helping any. This is purely word of mouth, but I've heard that the emount of corn in takes to power an SUV could feed 600 people or something silly. The problem is all we can think to do at this point is move the problem around. Oil gets high, so convert to corn, then corn gets high (as well as everything else because we need more space for corn.) Oil gets high so we go electric, which means we starts taxing our powerplants with the burden of powering our vehicles - electricity costs go up, more coal burned, etc. Oil gets high so we go hydrogen, which at this point takes more energy and requires the burning of fossil fuels to make anyways, so what's the point? | ||
| Etennuly |
How about the US takes a week off from buying foreign oil? Pop the taps on some of our reserves for one week. Come back the next week and revisit the price of oil. While we are at it, lets open say three new oil refineries nation wide and maybe allow a dozen new nuclear facilities each within range of major cities. We have had no progress there since the early seventies, but our population, and especially use per capita, of fuel and electricity has grown exponentially. | ||
| Naustin |
I live a block from work and walk everyday. The price of fuel has not directly hurt me yet because I only put gas in my car about once a month. The more people who trade their SUVs for Smart Cars, and sell their suburban McMansions and buy condo's in the city and take the bus or subway to work - or in smaller communities, just walk like me -- the better. Farming is a business. Stupid buisness people fail. The government shouldn't bail out farmers. If they can't make money these days, they have no buisness farming. I don't understand why, WE of all people are worried about gas prices. Don't we all have 40+mpg motorcycles to ride?? Get a topcase and do your grocery shopping with your bike! Ride to work!! I hope gas $8.00 a gallon and everyone starts riding scooters. Rant off... | ||
| Pammy |
Of course that theory will be less effective now that the United States is an importer, rather than exporter, of grain. My response exactly> I hope gas $8.00 a gallon and everyone starts riding scooters. You realize, of course that vehicles are only part of the equation. I see that you live in Minn. I hope that you are planting lots and lots of trees so you don't have to depend on fossil fuel in any way. Maybe you should live somewhere you don't have to consume so much fuel to keep warm. | ||
| Pammy |
That being said, I wish that gas wouldn't go any higher, yet folks would ride scooters, motorcycles, bicycles, etc....Sure would help with congestion in general. | ||
| Naustin |
Pammy - you're right. I should move near the equator and live in a mud hut and eat berries if I truly cared about the earth. I am a hypocrite, and I fully admit it. I still hope gas goes to $8.00 a gallon. I'd be willing to watch my heat bill quadruple if it means there will be an economic incentive to accelerate research into alternative energy sources. We already pay the power company to provide us with 100% renewalable power. Its boils down to an artificial calculation and basically a donation to them to expand their renewable program. My wife and I are thinking about putting solar panels on our roof and perhaps a small wind turbine up on the chimney. But we haven't done it yet, so we're still hypocrites for the time being. (Message edited by naustin on April 28, 2008) (Message edited by naustin on April 28, 2008) | ||
| Greenlantern |
I hope gas $8.00 a gallon and everyone starts riding scooters. I'm with you there! Why do Athletes make insane amounts of money? Because we continue to pay to see them play and /or buy their merchandise. Why do Corporate CEO's receive bonuses that rival the GDP of some countries? Because we pay for it though it does not seem so with the indirect nature of the action. Why does gas keep getting more expensive? Because we will keep buying it. As incompetent as our elected officials may be, as greedy as our corporations may seem, it is only us who share the ultimate responsibility or blame in any of this as we are the ones who placed them at their stations.We put them there either by ballot or check to watch our interests. It is Apparent that they are not performing up to spec! Now the question is can we their bosses (all 700 million + of us) conference call a solution to this, or just wait for necessity to outweigh need?  | ||
| Firebolt32 |
How do you explain, using the "Bush Theory" fuel prices in Germany, the Ukraine, Japan and Kenya? Your right Court...but it obviously doesn't help either. The biggest thing that upsets me is the ridiculous profit that is made by these oil guys in just a 1/4 of a year. If they are making that big of a profit why not lower the price for the blue collar american who can't afford to drive to work. I have to leave me job in Tampa doing what I love and get one in Lakeland, doing something I don't enjoy solely because I can't afford to fill the truck up anymore. | ||
| Xl1200r |
Maybe sell the truck? | ||
| Buellinachinashop |
Believe it or not, there's folks who need trucks. | ||
| Thumper74 |
And another thing... LEV and ULEV tax credits... Why don't motorcycles get them? My Buell has so much less of an environmental impact than my car does... Less oil (same oil change interval), less tire waste, less traffic (less congestion), less space used (there's a picture of 5 Buells in one spot at AD Farrow's polar bear ride), etc... | ||
| Dalton_gang |
"I don't understand why, WE of all people are worried about gas prices. Don't we all have 40+mpg motorcycles to ride?? Get a topcase and do your grocery shopping with your bike! Ride to work!!" We have a small fleet of service vans and trucks which get 12 MPG on average. With the economy being so depressed lately we find ourselves covering a wider area to keep busy which means more miles and more gas / diesel. We haven`t raised our prices since June of 2001 so as to remain competitive and affordable. I don`t think we will be able to hold out much longer. Soon it will be a little bit harder to afford an electrician around here. "I spent $45 to fill up my Focus with 87 octane..." Our fleet account is set up with a $100 limit per purchase to minimize theft in the event of a lost card etc.. Lately $100 puts approximately 28 gallons in the 36 gallon tanks. Soon I will be passing my additional costs on to the customer. | ||
| Jramsey |
Naustin If gas goes to 8 bucks a gal. most of us won't be able to buy groceries let alone the top case to put them in. Not everyone who fails in business is stupid. If farming is so easy then why have over 1 million family farms gone bankrupt in the last 25 years? I just bought a scooter to run errands on and it cost 12 bucks to fill the tank. Gas was 36 cents a gal. when I started driving and I wish it still was. | ||
| Slaughter |
Motorcycles SHOULD get credits IF and ONLY IF they are energy efficient. My Buell and my Saturn SC-1 get almost the same mileage and the Saturn has over 300,000 miles ! Motorcycles are more fuel efficient than large pickup trucks for sure but we HAVE TO REDUCE OUR DEMAND. Demanding bikes that put out 150 - 200 HP and are largely ridden solo makes no sense at all when talking fuel prices. | ||
| Midknyte |
That being said, I wish that gas wouldn't go any higher, yet folks would ride scooters, motorcycles, bicycles, etc....Sure would help with congestion in general. Not really, unless they enact lane splitting / sharing laws. We need to be able to legally use our size advantages. Doesn't matter if I'm in my car or on my bike. Stuck in traffc is stuck in traffic. | ||
| Pammy |
Honey, I never even insinuated that you or your wife were hypocrites. It never even entered my mind. I was just making a point of the fact that vehicles aren't the only users of fossil fuel. I drive a huge SUV. Now I only drive it a short way when I do drive it. I only put gas in it maybe once a month at the most. I need it for my work so I have it. I would ride my bicycle to work if I weren't so afraid of dying. I love riding my bicycle, I would be in better shape, it would save gas, etc...But I don't for the reason above. Does that make me a hypocrite? I don't think so. A coward, yes. | ||
| Greenlantern |
Our fleet account is set up with a $100 limit per purchase to minimize theft in the event of a lost card etc.. Lately $100 puts approximately 28 gallons in the 36 gallon tanks. Soon I will be passing my additional costs on to the customer. Just instituted a "fuel surcharge" starting today at my company. No other way around it! 350 Super Duties are not exactly "fuel efficient"! | ||
| Naustin |
Pammy - I know you didn't insinuate it - I said it because I believe it is true. I am not being sarcastic. I believe I am a hypocrite. I do appreciate your kind words. If farming is so easy then why have over 1 million family farms gone bankrupt in the last 25 years? Answer: Economies of Scale. Same reason Fords built on assembly lines are cheap and Bugattis built by hand are not. We can mourn the loss of the small “family farm” or we can subsidize it – but the bottom line is that the smallest of them may be doomed forever. The organic industry has thrown them a lifeline, but I’m not sure if it will last. Dalton_Gang - you should defiantly be passing your costs on. The faster the fuel costs get passed though for Food, and Services, and everything else, the faster people will change. Why haven't you raised your prices? Competition from competitors who are bleeding themselves as dry as you are, presumably. Unfortunately, economics dictates price wars in times like this. Only the most efficient will survive. I hope you are the ones who prevail. | ||
| Firebolt32 |
Maybe sell the truck? I did with my first one. Worse mistake I made...completely tricked out. I got rid of it to get an SUV that claimed to have better gas mileage than my old ford and the Isuzu is even worse. My girl drives that to work now since her job is in town and I take her Mazda to Tampa. | ||
| Greenlantern |
The sad truth of the matter is all we can do as Homeowner, Renter, Consumer, Contractor and Commuter is adapt to our situations as best we can for the foreseeable future. There is no "magic bullet" as someone else here had observed and the pinch felt by some of us really is a "tough S*&% on you" until enough of us is out of Job, Business or Home for any constructive dialog or decision making to come of this. Necessity is the mother of all invention? Well invention has called and he is not coming Stag! |
