I would imagine we are all in the same boat, or car, truck, etc., when it comes to the current (out)rage of gasoline purchases. Man, if there's one thing that sucks the marrow out of the enjoyment of owning and driving our old vehicles or any conveyance for that matter, it's $$$ for fuel. A final point break would be just viewing my old cars as pieces of art work, and fond memories. Ebay offerings (parts) are starting to appear like a bargain in relation with the cost of gas. Well, time to jump on my bike and get the errands done!
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At one of the recent oil summits one Saudi Prince even made the comment that only a small portion of the price increase is from increased world-wide demand - the larger part of the current run up is the U.S. futures market itself. Follow the money and a lot of answers will be found. I cannot remember if it is Chase bank or Citibank, but one of them has in excess of $80 billion in the oil/gas futures market - and there is little chance that they will walk away from a proven money maker. I generally favor capital markets and free enterprise - but for a long time I've felt that the oil/gas futures market is flawed.
Thomas
Long time hot rodder
Packrat junk collector
'63 Avanti R2 4 speed -
At one of the recent oil summits one Saudi Prince even made the comment that only a small portion of the price increase is from increased world-wide demand - the larger part of the current run up is the U.S. futures market itself. Follow the money and a lot of answers will be found. I cannot remember if it is Chase bank or Citibank, but one of them has in excess of $80 billion in the oil/gas futures market - and there is little chance that they will walk away from a proven money maker. I generally favor capital markets and free enterprise - but for a long time I've felt that the oil/gas futures market is flawed.
Thomas
Long time hot rodder
Packrat junk collector
'63 Avanti R2 4 speedComment
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I think my "favorite" [xx(] quote was from an executive of Imperial Oil (Esso) here in Canada about 18 months ago. Gasoline had recently risen from about $.80/litre (~$3.00/gal.) to about $1.00/litre (~$3.80/gal.), while at the same time sales had increased slightly. The comment was "We were obviously underpricing our product(at $.80), since demand has remained steady after the price increase.". [:0][V] Spoken like a true capitalist I suppose... but certainly unfeeling given that there aren't many other transportation options for many folks.
<h5>Mark
'57 Transtar
3E-6/7-122 </h5>
Mark Hayden
'66 CommanderComment
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I think my "favorite" [xx(] quote was from an executive of Imperial Oil (Esso) here in Canada about 18 months ago. Gasoline had recently risen from about $.80/litre (~$3.00/gal.) to about $1.00/litre (~$3.80/gal.), while at the same time sales had increased slightly. The comment was "We were obviously underpricing our product(at $.80), since demand has remained steady after the price increase.". [:0][V] Spoken like a true capitalist I suppose... but certainly unfeeling given that there aren't many other transportation options for many folks.
<h5>Mark
'57 Transtar
3E-6/7-122 </h5>
Mark Hayden
'66 CommanderComment
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Interesting piece today in the paper.....Kuwait is heading towards decoupling (pegging) it's currency to the dollar.....I'd guess its just a matter of time before oil ceases to be traded in petro dollars
and goes petro Euro or maybe something of it's own....When the dollar is so low, and your resource is pegged to a cheap currency, you have to make allowances.....Comment
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Interesting piece today in the paper.....Kuwait is heading towards decoupling (pegging) it's currency to the dollar.....I'd guess its just a matter of time before oil ceases to be traded in petro dollars
and goes petro Euro or maybe something of it's own....When the dollar is so low, and your resource is pegged to a cheap currency, you have to make allowances.....Comment
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It's really basic - they've got it, we need it. We just have to pay whatever they ask. Not nice, but that's about it.
/HComment
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It's really basic - they've got it, we need it. We just have to pay whatever they ask. Not nice, but that's about it.
/HComment
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quote:Originally posted by hank63
It's really basic - they've got it, we need it. We just have to pay whatever they ask. Not nice, but that's about it.
/H
A benefit of the international capabilities of the internet! So what is the gasoline price situation in Australia, Hank? Higher than ever? Shortages? [8D]BP
We've got to quit saying, "How stupid can you be?" Too many people are taking it as a challenge. 
G. K. Chesterton: This triangle of truisms, of father, mother, and child, cannot be destroyed; it can only destroy those civilizations which disregard it.Comment
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quote:Originally posted by hank63
It's really basic - they've got it, we need it. We just have to pay whatever they ask. Not nice, but that's about it.
/H A benefit of the international capabilities of the internet! So what is the gasoline price situation in Australia, Hank? Higher than ever? Shortages? [8D]BP
We've got to quit saying, "How stupid can you be?" Too many people are taking it as a challenge.
G. K. Chesterton: This triangle of truisms, of father, mother, and child, cannot be destroyed; it can only destroy those civilizations which disregard it.Comment
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