Oil Crisis

[Dravid]

The whole world without any doubt is in a commodity crisis, with the main problem being in Oil. Today in nymex trading Oil set a unbelievable record of gaining 11 dollars in an intra day to over $139. I mean, it was already out of hand when it was at a $100, but this is really getting ridiculous. I really did not know to laugh or cry after I turned on CNBC today to see how high oil had gone. Is there anything anyone can do to stop oil from killing our wallet?

[nightprowler10]

I'd say bring out the electric rechargeable cars but then electricity would be expensive as ****. Its just as well though, this will mean there are less drivers on the road which means I'll get to work on time.

[Dravid]

Originally Posted by nightprowler10

I'd say bring out the electric rechargeable cars but then electricity would be expensive as ****. Its just as well though, this will mean there are less drivers on the road which means I'll get to work on time.

Well hybrid cars are an amazing invention. I recently traded in my Nissan maxima 07 which gave me like 18mpg on avg for a Honda Civic hybrid which gives me like 40, so theres a huge difference. But even despite that, energy is still costing so much. I have family up in Connecticut and last weekend I saw regular gallon of gas for 4.65 there. Thats a bit too crazy even if I do have a hybrid

[James]

Originally Posted by nightprowler10

I'd say bring out the electric rechargeable cars but then electricity would be expensive as ****. Its just as well though, this will mean there are less drivers on the road which means I'll get to work on time.

Here here

Must admit I've noticed a lot less cars on the road in my drive in from West Sydney the past few weeks, so the petrol prices are obviously forcing people into driving less.

[FRAZ]

Oil is a big problem and has been like this and will remain like this untill unless we find some other alternative . Let the Arab world finish it's oil and folks watch out for the local reserves in Canada and US (Only for the locals) .

[FRAZ]

Originally Posted by James

Here here

Must admit I've noticed a lot less cars on the road in my drive in from West Sydney the past few weeks, so the petrol prices are obviously forcing people into driving less.

haha ! Usualy it takes me about 1 hour to return from downtown and yesterday it took me only 55 minutes .

[Dravid]

I highly doubt there is a free market system going on here. I mean c mon..supply and demand isn't really the issue pushing oil prices. Demand isn't that much greater than it was last year, so why the sudden jump in prices, infact demand has dropped 1% since the start of the year, still oil is posting records. I mean one guy from Morgan Stanley decides to open his mouth that I think oil prices are gonna hit $150 by july 4th, and what happens the next day boom oil goes up $11 dollars. I mean the us dollar index didn't fall that much to have oil shoot up $11 in one day. And I highly doubt that the jobless report can cause a $11 rise

Something fishy is going on with these commodities

[Mr Casson]

Originally Posted by Dravid

I highly doubt there is a free market system going on here. I mean c mon..supply and demand isn't really the issue pushing oil prices. Demand isn't that much greater than it was last year, so why the sudden jump in prices, infact demand has dropped 1% since the start of the year, still oil is posting records. I mean one guy from Morgan Stanley decides to open his mouth that I think oil prices are gonna hit $150 by july 4th, and what happens the next day boom oil goes up $11 dollars. I mean the us dollar index didn't fall that much to have oil shoot up $11 in one day. And I highly doubt that the jobless report can cause a $11 rise

Something fishy is going on with these commodities

Might be a bit of hoarding going on thanks to Israel flaring up the tension over Iran?

[nightprowler10]

Originally Posted by Dravid

Well hybrid cars are an amazing invention. I recently traded in my Nissan maxima 07 which gave me like 18mpg on avg for a Honda Civic hybrid which gives me like 40, so theres a huge difference. But even despite that, energy is still costing so much. I have family up in Connecticut and last weekend I saw regular gallon of gas for 4.65 there. Thats a bit too crazy even if I do have a hybrid

You only got 18 in your Maxima? I have a much bigger car with a similar engine and I get 22. But yeah Hybrids are great. My bro-in-law gets 35 in his Highlander.

Originally Posted by James

Here here

Must admit I've noticed a lot less cars on the road in my drive in from West Sydney the past few weeks, so the petrol prices are obviously forcing people into driving less.

Lucky you, people in the US haven't got the hint yet and it takes me longer than ever to get to work.

[Dravid]

Originally Posted by Mr Casson

Might be a bit of hoarding going on thanks to Israel flaring up the tension over Iran?

Coule be, but 17 dollars in two days? Let's be a little realistic with the prices atleast

[Dravid]

Originally Posted by nightprowler10

You only got 18 in your Maxima? I have a much bigger car with a similar engine and I get 22. But yeah Hybrids are great. My bro-in-law gets 35 in his Highlander.


Lucky you, people in the US haven't got the hint yet and it takes me longer than ever to get to work.

18 19 the avg usually. The v6 engine burns up gas like crazy.

[FRAZ]

Originally Posted by Dravid

18 19 the avg usually. The v6 engine burns up gas like crazy.

Are you suggesting tissue paper cars with 3 cylinder engines running on the Canadian winter bitten roads where life is fast paced and traffic is the most congested in North America ? Blood for Oil ?

[nightprowler10]

Originally Posted by Dravid

18 19 the avg usually. The v6 engine burns up gas like crazy.

That's my point exactly. I have an Avalon which is a v6 with 268hp and an engine very similar to that of the Maxima (I know this as I almost bought one) on top of which mine is a bigger car so yours is supposed to be less of a gas guzzler. Methinks you driveth like a bat out of hell.

[Matt79]

The only real solution is developing a viable alternative to oil - put big business and governments prefer to stick their heads further up their posterior by spending more on searching for new sources of oil, protecting their access to the oil that is currently being exploited, and in searching for ways to make fossil fuels clean than spending on searching for alternatives.

The only thing we can do to avoid the cost of oil killing us financially (and ecologically) is stop using oil. To that end, the price skyrocketing is a good thing. Its painful in the short term, and may well take a couple of decades for the pain and resultant spasms to ease, but long term we have to stop using oil and its only pain that will make us do so. Look at it like a junkie getting off heroin - the withdrawal's going to be a bitch, but acknowledging that your dependence is killing you and then working through the withdrawal process to free yourself of the addiction is the only way you've got a long term future.

[Mr Casson]

Originally Posted by Matt79

The only thing we can do to avoid the cost of oil killing us financially (and ecologically) is stop using oil. To that end, the price skyrocketing is a good thing. Its painful in the short term, and may well take a couple of decades for the pain and resultant spasms to ease, but long term we have to stop using oil and its only pain that will make us do so. Look at it like a junkie getting off heroin - the withdrawal's going to be a bitch, but acknowledging that your dependence is killing you and then working through the withdrawal process to free yourself of the addiction is the only way you've got a long term future.

Agreed, I'm doing my bit by junkyarding my car. It might be uninsured and unregistered and have a busted radiator fan, but that's not the point.

Watch this space for an invasion of East Timor: cheap, local, resistance-free, delicious oil.