You can pre-purchase your gasoline!!!!

[sgmstr]

www.mygallons.com. Check it out. This may save money for some people.

 

[jneal]

a fair sign that the gas bubble will pop. Thats what they are counting on.

 

[Gambler]

Sounds like speculation to me.

 

[JsnChristianson]

a fair sign that the gas bubble will pop. Thats what they are counting on.

Doubtful. Two words; peak oil.

 

[jneal]

Doubtful. Two words; peak oil.

while I agree that peak oil has it influence, it is not the sole reason for our oil crisis.

87mil bbls/day usage compared to 85mil bbl/day import probably has the largest influence.

quirky speculators freaked out over the peak oil claims is another.

china/india, several other up and coming industrial coutries are subsidizing their fuel costs so their demand is sky high.

opec nations, specifically the saudis, have determined that they want to "ration" oil exports so their future generations can reap the benefits. They have stated several years ago that oil should have been over $100/bbl 20 years ago.

regional politics such as the iranian/israeli crisis continues to drive the price up as well as places such as Iraq still not coming up to 100%. Iraq is just now inviting the oil companies back in for production.


lots of factors that can cause the price to come back down if something changes.

 

[sgmstr]

a fair sign that the gas bubble will pop. Thats what they are counting on.

Hmmm... you maybe right.

You might remember when this accident happened... March 5, 2000.
On Southwest Airlines Flight 1455 from Vegas overshot the runway at Burbank . The plane crashed through the airport fence, careened across the street and ended up with a collapsed landing gear, right next to a gas station. But that's not the amazing part - Look at the picture. It's freaking $1.59 per gallon. I miss those days.

 

[sgmstr]

while I agree that peak oil has it influence, it is not the sole reason for our oil crisis.

87mil bbls/day usage compared to 85mil bbl/day import probably has the largest influence.

quirky speculators freaked out over the peak oil claims is another.

china/india, several other up and coming industrial coutries are subsidizing their fuel costs so their demand is sky high.

opec nations, specifically the saudis, have determined that they want to "ration" oil exports so their future generations can reap the benefits. They have stated several years ago that oil should have been over $100/bbl 20 years ago.

regional politics such as the iranian/israeli crisis continues to drive the price up as well as places such as Iraq still not coming up to 100%. Iraq is just now inviting the oil companies back in for production.


lots of factors that can cause the price to come back down if something changes.

Plus blackmarket which drives up the prices of crude oils.

 

[Gambler]

Well in that case where's my tanker truck...

 

[Rollin Thunder]

thanks for the post, i just signed up. But i wanna buy 50000:smilielol: gallons, i wonder if they will let me do that.

 

[73shark]

This is just hedging and betting on continued upward price movement. I noticed that your price is base upon your current local price. That's different than being your current local price. One of the big Three, Chrysler I think, is offering $2.99/gal for three years when you buy a new car. Another indicator that gas has probably maxed out.

 

[JsnChristianson]

while I agree that peak oil has it influence, it is not the sole reason for our oil crisis.

87mil bbls/day usage compared to 85mil bbl/day import probably has the largest influence.

quirky speculators freaked out over the peak oil claims is another.

china/india, several other up and coming industrial coutries are subsidizing their fuel costs so their demand is sky high.

opec nations, specifically the saudis, have determined that they want to "ration" oil exports so their future generations can reap the benefits. They have stated several years ago that oil should have been over $100/bbl 20 years ago.

regional politics such as the iranian/israeli crisis continues to drive the price up as well as places such as Iraq still not coming up to 100%. Iraq is just now inviting the oil companies back in for production.


lots of factors that can cause the price to come back down if something changes.

Wow, great response! Of these factors that you listed though, what could possibly change?

With the continual development of these nations you mentioned, which is surely only going to increase, the demand for fuel is only going to increase more.

OPEC nations rationing their resources to protect their interests makes sense for them, and I can't blame them for that or reasonably expect them to back down on that decision simply because we would want them to. It's not as if they have a great wealth of other resources to rely on, they need to control what they can. Even with conflict nations such as Iraq rebuilding their infrastructure and contributing additional oil to the market, we will still have to compete with the increasing demand, right?

I just don't see what could possibly change to make a product with perpetually decreasing supply as well as a steadily increasing demand, suddenly go down in price again?

I think the writing has been on the wall ever since the American oil crisis of the 1970's, the general population didn't bother to read it. Oil is a finite resource, we've been consuming it as if we thought it would always be there! In the same respect that the Saudi's are saying that oil should have been $100.00+/bbl years ago, we should have been exploring and engineering alternate and most importantly renewable sources of energy years ago as well. The transition should have been voluntary, but it looks like it is going to have to be forced.

I just don't see how the price of oil could possibly return to previous levels, it's a lot of wishful thinking in my opinion. Then again, I have only been taught the scientific aspect of the petroleum, not the business aspects of it.

 

[Ickulus]

My confused perspective

Hmmm... you maybe right.

You might remember when this accident happened... March 5, 2000.
On Southwest Airlines Flight 1455 from Vegas overshot the runway at Burbank . The plane crashed through the airport fence, careened across the street and ended up with a collapsed landing gear, right next to a gas station. But that's not the amazing part - Look at the picture. It's freaking $1.59 per gallon. I miss those days.

Don't plan on seeing them anytime soon....

I wasn't alive back then, but in the 70's, gas went up 10x the going rate as compared to 4x in our current state. One interesting thing that hasn't been touched on is the oil that WE produce. It isn't used for gas, it either goes to reserves or is sold to Canada. In light on the recent discovery of an enormous formation called the Bakken shale, I wouldn't get too worried. This resevoir spans the Dakotas, Montana, and some of Canada. It has been speculated to be larger than the depleted Saudi resevoirs (that's big). Unfortuneately it is very deep and difficult to recover which in turn is only justified to be drilled for with higher prices. Though the prices are high and may go higher, I don't believe that they will skyrocket over say, $8. There actually is a bill in Congress right now (or was, not sure) that proposed a gradual increase in gas prices eventually ending up somewhere at $12/gallon......:cryin: This is said by proponents of the bill to mimic a similar initiative in the EU a few years back which has stimulated the innovation of alternative fuels and energy sources. I think Switzerland has $10/gallon petro. Ah crap this stuff hurts my head, I will stop.

 

[ehaser]

Wow, great response! Of these factors that you listed though, what could possibly change?

With the continual development of these nations you mentioned, which is surely only going to increase, the demand for fuel is only going to increase more.

OPEC nations rationing their resources to protect their interests makes sense for them, and I can't blame them for that or reasonably expect them to back down on that decision simply because we would want them to. It's not as if they have a great wealth of other resources to rely on, they need to control what they can. Even with conflict nations such as Iraq rebuilding their infrastructure and contributing additional oil to the market, we will still have to compete with the increasing demand, right?

I just don't see what could possibly change to make a product with perpetually decreasing supply as well as a steadily increasing demand, suddenly go down in price again?

I think the writing has been on the wall ever since the American oil crisis of the 1970's, the general population didn't bother to read it. Oil is a finite resource, we've been consuming it as if we thought it would always be there! In the same respect that the Saudi's are saying that oil should have been $100.00+/bbl years ago, we should have been exploring and engineering alternate and most importantly renewable sources of energy years ago as well. The transition should have been voluntary, but it looks like it is going to have to be forced.

I just don't see how the price of oil could possibly return to previous levels, it's a lot of wishful thinking in my opinion. Then again, I have only been taught the scientific aspect of the petroleum, not the business aspects of it.

While I agree with your initial post you are not really looking at this from a supply/demand perspective while taking into consideration the current economic environment. We are in a massive global inflation bubble.. Demand will fall precipitously once india and china can no longer afford to subsidize their fuel and enable their citizens to pay a buck a gallon for diesel. I do agree that at some point production will reach capacity however do you really think that has happened?? We haven't even been able to drill offshore in the us due to the moratorium that was enacted years ago. I'm not saying that we'll be paying 2.50 a gallon anytime soon but I do think we will see 100 bucks a barrel. Whatever you do, take your profits while you can. Once we break the uptrend that has been in place you should see crude fall like US steel did last week. Commodities surge with tremendous volatility during uncertain times like these. If we don't hold the 1200 level in the s&p then and only then do I think we'll see 180 bucks a barrel for crude as a hedge against the weak market... Who know's. Either way, I think we need to be focusing on new sources of energy and ways to use it efficiently. It will be an interesting week... Hopefully GM doesn't declare BK. That would really be an ominous sign that a major bear market is at our heels.

Hence,
Criticisms

Some do not agree with Peak Oil, at least as it has been presented by Matthew Simmons. The president of Royal Dutch Shell's US operations John Hofmeister, while agreeing that conventional oil production will soon start to decline, has criticized Simmons's analysis for being "overly focused on a single country: Saudi Arabia, the world's largest exporter and OPEC swing producer." He also points to the large reserves at the "US Outer Continental Shelf, which holds an estimated 100 billion barrels (16×109 m3) of oil and natural gas. As things stand, however, only 15 percent of those reserves are currently exploitable, a good part of that off the coasts of Louisiana, Alabama, Mississippi and Texas. Simmons is also off the mark, Hofmeister contends, because he excludes unconventional sources of oil such as the oil sands of Canada, where Shell is already active. The Canadian oil sands — a natural combination of sand, water and oil found largely in Alberta — is believed to contain one trillion barrels of oil. Another trillion barrels are also said to be trapped in rocks in Colorado, Utah and Wyoming,[180] but are in the form of oil shale. These particular reserves present major environmental, social, and economic obstacles to recovery.[181][182] Hofmeister also claims that if oil companies were allowed to drill more in the United States enough to produce another 2 million barrels per day (320×103 m3/d), oil and gas prices would not be as high as they are in the later part of the 2000 to 2010 decade. He thinks that high energy prices are causing social unrest similar to levels surrounding the Rodney King riots.[183]

 

[TangibleGhost]

Time to go down into the lab and start working with Dexter to modify a hybrid car to run on Brown's Gas and keep Mandark out. Not sure which will be harder....

 

[Rollin Thunder]

Time to go down into the lab and start working with Dexter to modify a hybrid car to run on Brown's Gas and keep Mandark out. Not sure which will be harder....

are you 7 :confused2:

 

[Black Dog]

are you 7 :confused2:

LOL yeah that one blew me away too. Maybe 7 1/2 going on 9...

 

[TangibleGhost]

nope, just bored

 

[jneal]

I think the peak oil issue is mostly the huge reserve under the saudi's. I understand the res in the rocky mountain shale is much larger that it ever was.



what can change?
The countries subsidizing the oil can have some pressure brought upon them to stop or at least reduce their subsidies by giving other incentives.

Oil supply can surpass the demand by drilling the Rockies, off the coast of Fl., and Anwar.

Allow the building of more refineries with newer more efficient capabilities since the last one was built with 30 year old technology.

Develop greener energy tech. I believe a large portion of the people are willing to go "greener" as long as it doesnt change their lifestyle too much at one time. It's kinda the boiling frog scenario. we can make huge changes just over a longer period of time.

I dont know how to address the middle east issue without bringing up a huge disagreement. My opinion is basically to stop meddling in the middle east and stop being Israels big brother. I dont feel we had a need to be in Iraq but we are there and need to finish the job. Afghanistan yes, Iraq no and I dont think we have done everything we can to settle the issue with Iran diplomatically. Just MHO dont let this opinion start a flame session.

I'm not one for more regulations, but the speculators need a scare at least to bring them in line. Maybe some studies to possibly find a better way to do the same thing. Honestly I confess this is a black magic world to me, I really dont understand it.

 

[sgmstr]

mygallons.com rating by BBB

Check LA Times Article
http://www.latimes.com/business/la-fi-mygallons4-2008jul04,0,5410778.story