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Gas prices go below $1.00

#91
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8/29/05 at 9:03am
  • Joined: September 1999
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Quote:
The peak can not be predicted perfectly, it can only be seen in the rear view mirror, by which time it will be too late to do anything. Hubbert's 1956 prediction of an early 70s peak for lower 48 states held up quite well, and I see no reason why the methodology shouldn't work for the world as well.
US oil reserves are well known. The world's is not. You said it yourself with Saudi Arabia. And I trust the Saudis about as far as I can throw them.

The problem with oil is not that it is so expensive, the problem was that it was so cheap for so long. Inflation adjusted, even $50 bbl oil is actually pretty reasonable. $12 bbl oil back even a few years ago was simply ludicrously low, and it made people think that was actually the norm.

Now that oil prices have risen, the peak oil folks have some more ammunition.

Thanks for the authors, yes, I am familiar with their works. One of the mutual funds I track is the Sprott Energy Fund, which relies heavily on the theory of peak oil.
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#92
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8/27/08 at 5:42pm
  • Joined: October 1998
  • Location: Boise ID
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Re: Gas prices go below $1.00

Quote:
You are a crule [sic] man, Henry Gale, resurrecting this thread!

Well, has anyone thought of using nuke power to extract oil from oil shales and tar sands? You could use a centralized alt power source into a more easily transportable power source...right now all too much power is wasted in transmission lines.

Feline videophiles Susie and Dukie.

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#93
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8/27/08 at 6:52pm
  • Joined: November 2000
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Re: Gas prices go below $1.00

All right Dennis, this is just fucking cruel.

--
H
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#94
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8/27/08 at 7:04pm
  • Joined: July 1997
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Re: Gas prices go below $1.00

Maybe he meant a dollar a quart?
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#95
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8/27/08 at 8:42pm
  • Joined: February 2007
  • Location: west coast of florida
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Re: Gas prices go below $1.00

No, a dollar a cup.

Or a table spoon.

"Bobby is and idiot"
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#96
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8/27/08 at 9:34pm
  • Joined: August 2003
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Re: Gas prices go below $1.00

It's hard to believe that it was only 7 years ago that gas was under $1 a gallon. Nowadays, I would be happy if it went under $3, but I fear those days won't come, for reasons I won't get into on this forum.

I'll just remember fondly the days when a crisp new $20 bill bought me a full tank of gas and a first run movie ticket.
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#97
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8/28/08 at 7:08am
  • Joined: January 1999
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Re: Gas prices go below $1.00

Quote:
Originally Posted by ZacharyTait
It's hard to believe that it was only 7 years ago that gas was under $1 a gallon. Nowadays, I would be happy if it went under $3, but I fear those days won't come, for reasons I won't get into on this forum.
Don't worry, though, gas and groceries aren't included in calculations of the inflation rate. So it's all good!

Philip Hamm
Moderator Emeritus

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#98
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8/28/08 at 7:36am
  • Joined: March 2001
  • Location: Rochester, NY
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Re: Gas prices go below $1.00

I'm pretty it's all my fault. During the rock bottom gas period, I was driving an affordable, 4-cyl Ford Escort that got up to 42 mpg on the highway. In 2002, 2003, I bought an extravagant V6 Honda. Shortly thereafter, gas prices began their meteoric ascent.

Apparently, I was the marginal user; my extra consumption pushed us over the edge.

Apologies to all.
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#99
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8/28/08 at 11:34am
  • Joined: November 2003
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Re: Gas prices go below $1.00

Quote:
Originally Posted by Philip Hamm
Don't worry, though, gas and groceries aren't included in calculations of the inflation rate. So it's all good!

Ain't that the truth. In reality, it sorta/kinda still costs the same. When I was in high school you could get a gallon of gas for about a quarter, which was made out of silver at the time. Value in the silver content today, and you can still get the gas for about the same quarter. Have to check, but that'd likely be the same case as when this thread started.

Mort
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#100
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8/28/08 at 12:28pm
  • Joined: October 2003
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Re: Gas prices go below $1.00

According to a coin collecting site I Googled:

"There is no silver in any coin made for circulation after 1970."
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#101
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8/28/08 at 1:19pm
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Re: Gas prices go below $1.00

Quote:
Originally Posted by Kwang Suh
And I trust the Saudis about as far as I can throw them.


Did you see the Saudi tossing at the Olympics? BillyBob Toescraper of Tulsa, OK sent one flying at least ten yards....he landed right in a patch of oil and is now filthy rich (er)

--ignore the man behind the curtain

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#102
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8/29/08 at 11:53am
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Re: Gas prices go below $1.00

Quote:
Originally Posted by Don Solosan
According to a coin collecting site I Googled:

"There is no silver in any coin made for circulation after 1970."

1964 was the last year for 90% silver quarters......I was in high school.

Mort (who can't believe he's really that old either)
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#103
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8/31/08 at 9:53pm
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Re: Gas prices go below $1.00

"I'm pretty it's all my fault."

Hmmmmm...
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#104
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9/2/08 at 9:36am
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Re: Gas prices go below $1.00

Gear up for the gas-free car - MSN Money
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#105
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9/2/08 at 10:01am
  • Joined: January 2005
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Re: Gas prices go below $1.00

Quote:
Originally Posted by JonZ

Sweet ride, now I just need to find the 80K and I'm set.

Who else thinks Quantum Technologies looks like a bargain at $1.75 a share?

I know enough to know I don't know enough!

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