$50/bbl Oil. Coming to a Gas Station Near You

[JohnnyO]

http://ca.us.biz.yahoo.com/ap/040927/oil_prices_16.html

The price of oil is up roughly 75 percent from a year ago, while gasoline is 33 cents per gallon more expensive than last year.

$50/bbl oil is just insane. Ivan and Nigerian Rebel conflict causing recent increases.

It would sure be nice to see some of the Gasoline tax make its way back into the Citys infrastructure anytime soon.

[Tron_fdc]

Which is why I want one of THESE

The new FTX from Toyota, complete with a gas/electric hybrid V8.

*drools*

[Bertuzzied]

Originally posted by plett22@Sep 27 2004, 10:03 PM
Which is why I want one of THESE

The new FTX from Toyota, complete with a gas/electric hybrid V8.

*drools*

or the new Acura NSX. it's the first sportscar hybrid.

I can't wait to see my friends reaction when gas hits $1/litre. I told him not to buy a V6. hehe

[CaramonLS]

*blinks*

You guys mean you don't like the style of the Honda insight?

Seriously though I think that car does more to harm the environment than good, I would buy an SUV out of spite for that pile of crap.

[BlackArcher101]

Yep, that FTX is something that I can see being used by a house contractor or off roading.

[Cowperson]

There is an article somewhere today - I'll try and find it - indicating persistent higher oil prices may lead to a comeback for nuclear power.

OPEC probably wouldn't like that. The market will probably adjust in the next few years and generate more supply to bring the price down. About four or five years ago, the cover of The Economist Magazine was forecasting $5 oil.

Ever since blowing the world up AND themselves along with it via their Israel protest in 1973, OPEC has understood that keeping oil at a price that deters alternative forms of energy is the smart way to go.

Hope my Durango lives that long!! It's about $60 or so to fill it up these days.

Cowperson

[RougeUnderoos]

Originally posted by BlackArcher101@Sep 27 2004, 05:06 PM
Yep, that FTX is something that I can see being used by a house contractor or off roading.

Why not?

I'm no car buff but it seems like a pretty normal pick-up truck. Are you saying it's too flashy for actual work? Or that the engine wouldn't be able to do anything resembling actual work?

[Fuzzy McGillicuddy]

A guy I work with is buying one of these new Smart Cars. He says they get about 80 mpg, which is pretty impressive. He says it's a good vehicle for in-town use. Engine has a governor which limits speed to 135 kph maximum.

Smart Car

[CrzyCanuck]

I thought I read that 50$/ is not the highest is has been when you adjust for inflation.

[Cowperson]

Originally posted by CrzyCanuck@Sep 28 2004, 01:57 PM
I thought I read that 50$/ is not the highest is has been when you adjust for inflation.

Even at $50, oil today has far less of an impact on the global economy than it did in the late 1970's when it was hovering in the $40 area with predictions it was going to $100 a barrel.

I think I've read somewhere that on an inflation adjusted basis, oil would need to be in the $80 a barrel area to have the same "price" it did at its worst moments in the 70's.

Cowperson

[albertGQ]

Nigeria pumps out 2.3 million barrels of oil a day. Does anyone know how much Canada and/or Alberta pumps out on a daily basis?

[Cowperson]

BBC.com lays out the reasons oil prices have been rising to new heights.

http://edition.cnn.com/2004/BUSINESS/09/28...reut/index.html

Cowperson