gas prices

Yes.

But I don't think we are there yet. Confirmed reserves are much greater today than they were in the 70s.

[Deadly Crescent Kick]

don't you think the powers that be will be milking profits as much as possible between now and that period?

It's certainly a possibility...

CEOs of major companies have been known to cash in on impending doom.

But this is a much more major and well known issue... everybody is a stakeholder... and when evaluating projects and investments, the certainty (or uncertainty) of the worlds future supply of power will be properly evaluated.

I don't believe there is a conspiracy. I believe that we have a healthy supply of energy currently; but we should spend some R&D money on devoloping new sources.

[ August 18, 2005, 11:16 PM: Message edited by: DJ FC ]

[Deadly Crescent Kick]

you don't think that all of the lobbying and payoffs that occur in politics don't apply to the oil industry?

No, I admit that there is a problem.

Just not a massive conspiracy.

Edit: And because the issue is so big, and because our oil reserves keep growing each year, I do not think there is any problem. We are probably ahead of the game.

[ August 19, 2005, 01:09 PM: Message edited by: DJ FC ]

[Deadly Crescent Kick]

working for corporations and having a family that is politically involved has made me extremely cynical.

if you follow all of the bills and proposals on capital hill, its very clear that politicians are NOT looking out for us.

i don't think it necessarily has to be a massive conspiracy in order to throw everything off kilter, just a few key players.

if you're planning to make $$ on oil, now is the best time. get in while the gettin' is good.

where are you getting your estimates from?

most of what i've ready indicates 2020 as peak oil.

here's an interesting article:

http://www.lifeaftertheoilcrash.net/Home.html

[ur my bitch]

oil prices are pretty much at a peak. There are a few analysts calling for $30 a barell. Now may not be a bad time to short oil if you are thinking about investing.

Better investment would be to companies that beenfit on oil price incrses.

You claim you don't buy into conspiracy theories, but your link includes this garbage:

Oil prices that far north of $100/barrel would almost certainly trigger massive, last-ditch global resource wars as the industrialized nations of the world scramble to grab what little of the black stuff is remaining. This may explain why the director of the Selective Service recently recommended the military draft be expanded to include both genders, ages 18-to-35.

Edit:

Here's a good example of the other side of the issue:

http://www.spiked-online.com/Articles/0000000CA562.htm

Ever heard of all the oil in Canada? It's trapped in sand. By some estimates there is more oil in Canada than Saudi Arabia, but at current oil prices it's not economically viable to extract. When the price and technology is right, we will find more oil. In the meantime, we will prepare to become more efficient and find other sources.

Edit Edit: Here's a great analogy given to me by a great Economics Professor...

We will never run out of oil.

Imagine I give you an entire room filled with pistachios. You are allowed to eat them, so long as you throw the shells back in the room. At first you are eating happily. Later you have to dig a little to find another pistachio, but the cost of the digging still outweighs the benefits of eating it. You begin to eat less of them. As the shells pile up, you eat less and less because you have to dig more for each of them. Eventually you stop digging, but there are still pistachios in the room. They just aren't worth the digging. The same is true with oil. As the costs increase, we will dig more. We will slowly ween ourselves off of oil dependency as the digging becomes more and more expensive. But we will never run out of oil. We are at the beginning stage of this process, there are still more places to search for oil than have been searched. Major exploration in the Middle East hasn't occured since the 1970's. We will find more oil.

[ August 19, 2005, 07:05 PM: Message edited by: DJ FC ]

[Repugnant Abomination]

I'm only familiar with the term "check his oil".

[rla128]

(picture taken from my recent trip to Ireland)

1 Euro = 1.2228 U.S. dollars

1 US gallon = 3.7854118 liters

So, 1.07900 Euro = 1.3194012 U.S. dollars for a liter of gas (or petrol, as they call it).

Multiply that by 3.7854118 to get a gallon, and you have...

4.99447687 U.S. dollars for a gallon of gas in Ireland.

[ August 20, 2005, 01:16 AM: Message edited by: rla128 ]

[Niger Angelus]

That sucks dick.
$2.78.

[Mr. Blonde]

its like 3.19 here

[Ugly Bastard]

Basically, its reached the point where I'm conscious of how much gas I'm using. Before, when it was like $2.20 or whatever, to be honest, I didn't really give a shit. I still did some joy-riding and all that other good mindless shit.

Now, at $3.19 a gallon (or $3.49 a gallon for us premium users), I'm really going to watch how much I drive and turn into a cheap bastard.

-Ugly Bastard

We still aren't as bad as late 70s/ early 80s.

For comparison, oil prices are somewhere around $70/barrel.

The red line shows price adjusted for inflation.

[Mr. Blonde]

so do you think it will go back down again?

[ninjaface]

Not for another 2 years.

[Mr. Blonde]

lol, that reply goes perfectly with your avatar, i just chuckled a bit about it.

[Fruitacious B]

There are numerous solutions and technologies available that would reduce our constant need for gas. However, many of the leading oil companies have bought out the patents for the new technologies so that the companies that would implement them can't get to them. We have the ability to easily be driving cars that get 50-75 miles per gallon. Hooray for corporate domination.

[ninjaface]

Well I happen to like my mandatory Wal-Mart UPC code neck tattoo. I think it looks cool and it's how I express myself.

Originally posted by Fruitacious B:
There are numerous solutions and technologies available that would reduce our constant need for gas. However, many of the leading oil companies have bought out the patents for the new technologies so that the companies that would implement them can't get to them. We have the ability to easily be driving cars that get 50-75 miles per gallon. Hooray for corporate domination.

Source?

And be careful with the word 'easily' people always make it sound like every mofo could just go out and buy a new car.

[Mr. Blonde]

Originally posted by Fruitacious B:
There are numerous solutions and technologies available that would reduce our constant need for gas. However, many of the leading oil companies have bought out the patents for the new technologies so that the companies that would implement them can't get to them. We have the ability to easily be driving cars that get 50-75 miles per gallon. Hooray for corporate domination.

I've heard this too, of course FC won't believe it , but I sure as hell do.

Yeah, you believe everything that sounds like a right-wing conspiracy.

There are technologies called "plug-in hybrids" (or something to that effect) which get tremendous milage, but they aren't good enough for mass production... and they are too expensive and guess what else - electricity in your house has to come from somewhere.

http://www.cnn.com/2005/TECH/08/15/hybrid.tinkerers.ap/

Also - many standard hybrids get tremendous mileage, and if they sold well more companies would make them, but they dont. They are expensive and still not perferred by the American consumer. Do you plan to force everybody to drive a certain car?

Edit:

Chevrolet Silverado Hybrid
Ford Escape Hybrid
GMC Sierra Hybrid
Honda Accord Hybrid
Honda Civic Hybrid
Honda Insight
Lexus RX 400h
Mercury Mariner Hybrid
Toyota Highlander
Toyota Prius

These are all hybrid cars. They get tremendous mileage.

[ September 01, 2005, 09:12 AM: Message edited by: DJ FC ]

[tonguegina]

I'm not saying that everyone has to have a hybrid or whatever, but my question is why does everyone need to have SUV's and Hummers and trucks with Hemi's (arrr...gotta get me one a them hemi's so I can haul lumber and rocks...to class?). People drive these ugly ass vehicles that get 3 miles to the gallon and don't fit in parking spots, then complain that they have to pay 50 bucks to fill up their tank twice a week. Last time I checked 2.5 kids can fit in the back of a Chevet. Go over to Europe, and you don't even see a third of the amount of these monstrosities.

[Nathan]

Gas here is around 3.19-3.29 depending on if im in Ann Arbor or Milan.

[MAGICLIT]

2.69-2.79 here