Yeah, we were running out of oil around 1973. It's 35 years later and there is still plenty of oil.
I fill up 2 times a week at about $50 a fill, $100 a week, about $500 a month. That equals out to about $6,000 a year just to fill the stang.
There may still be "plenty" of oil from a general standpoint, but if you're looking at long-term (e.g., the next 50 years), there is not.
It will run out sir... count on it. That is non negotiable.
Who cares? In 50 years the polar ice caps will have melted and we will be using rowboats for transportation.
Only way gas prices are coming down is if the entire world switches to alternative fuels and decreases demand.
.
I've read that currently the world is at 99% of refining capacity, which helps explain why the price of refined fuels is so volatile. Even small shortages or political tensions and such can cause big ripples in the prices.
Personally, I'm getting ready to go on the ramen diet so that I can continue to feed my two hungry muscle cars.
"Even if the fundamentals in general, particularly this quarter, were to weaken, we would think investment flow could be pushing prices to records anyway,'' Wittner said.
"HOUSTON (AP) - Exxon Mobil Corp., the world's largest publicly traded oil company, said Thursday that record crude prices helped its first-quarter profit climb 17 percent to $10.9 billion - the second-biggest U.S. quarterly corporate profit ever. "
Gee - I wonder why it is the second-biggest US quarerly corporate profit ever... Thats because we are paying over 4 dollars for a gallon of gas! Boy - this really me.
I understand the theory of how the housing market could be playing an effect on all of this.... But 10.9 Billion in profit for 1 quarter??? Come on - how can any body in their right mind stick up for this.. I understand its a business, but whats going to happen next?? Other things we need such as clean water, food, etc... Are they all going to double or even tripple in price within a year?
I do not invest in stock nor do I follow it.
I simply go by the fact that I paid 4.10 for a gallon of premium gasoline from Exxon this morning. I come into work and see on TV that they made 10 billion dollars in a SINGLE quarter.
They have Americans in a pigeon hold and are taking advantage of that... Regardless who it is for... the stock holders, the government, whatever.
I don't want this thread to get off topic - but someone is jacking the price of somehwere if they can make 10 billion dollars in such a small amount of time.
I do not invest in stock nor do I follow it.
I simply go by the fact that I paid 4.10 for a gallon of premium gasoline from Exxon this morning. I come into work and see on TV that they made 10 billion dollars in a SINGLE quarter.
They have Americans in a pigeon hold and are taking advantage of that... Regardless who it is for... the stock holders, the government, whatever.
I don't want this thread to get off topic - but someone is jacking the price of somehwere if they can make 10 billion dollars in such a small amount of time.
Just think they can cut the price of gas in half and still make 5 billion in one quarter. This is getting ridicules and out of hand.
There are people all over the world who say that what YOU make is so unbelievably over the top that you should be ashamed of yourself. We live in a country where personal income is at such an all time high, and where the average cost of gasoline takes up a MUCH smaller percentage of our incomes than it did back in the last fuel crisis, and yet we complain and complain and complain.
Get real. Learn to invest, a monkey can do it these days. You have no excuse to simply say "I don't know nothin' about no investin' nohow" and expect to get ahead in this country.
Broken backs, my a$$. People are either victims in this country or they make something of themselves. Be lucky you don't live in England where they tax you to death...
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