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Gas prices go below $1.00 - Page 3

post #61 of 105
11/17/04 at 11:05am
Hell, $1.50, wasn't it sitting around $1 in the mid-80's? Seems like I used to be bummed when it would hit $1 since as a teen I didn't have the gas cash I do now, back when we'd count change up to put in just a couple of gallons.
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post #62 of 105
11/17/04 at 11:15am
$2.19 here, ~$40 to fill her up at the begining of the week, lasts till Thurday, perhaps Friday if I'm lucky

This is one evil thread.

--
H
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post #63 of 105
11/17/04 at 11:50am
Think about this:

Since about 1940's to about the mid 1990's gas rose from an average of about $0.40 to $1.00 in the late 90's. A difference of about $0.60 And since 1998 when it was about $1.00, it has risen to over $2.00. I am no expert but, it has risen exponentionally here in the last 6 years. So gas went 50 years and only rose about $0.60. And in the last 6 years it has risen more than $1.00.

On this track, I will be riding my bike in 10 years or buying that electric car.
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post #64 of 105
11/17/04 at 12:44pm
This whole gas situatioon has really validated my decision to live near work. I work in a college town so rent is higher than most places [further away] where other staff live. However, even though I pay about $150 more in rent, I now fill up 3 less times a month (~$100 with today's gas prices), and a monthly parking pass to campus is $54. So basically it's a wash monetarily, and I no longer have to deal with my mental health from gridlock and insane drivers, since I walk to and from work.
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post #65 of 105
8/25/05 at 8:38am
This thread needs an update. Up to $2.49 in my area. Dammit...
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post #66 of 105
8/25/05 at 8:48am
Hell, it doesn't seem all that long ago... maybe 1999... that I was buying gas for 79 cents per gallon in Ann Arbor, MI.

Seriously... Has THAT MUCH changes since then that the prices have more than tripled? If someone told me that we were actually running out of our world petroleum supply, maybe I could understand it...
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post #67 of 105
8/25/05 at 9:19am
Cruel bringing this thread back to life...I read the first couple posts with total confusion until I looked at the original posting date!
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post #68 of 105
8/25/05 at 9:22am
I agree with Bob. Kicking this up to the front was just cruel.
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post #69 of 105
8/25/05 at 9:31am
I almost fell over then I saw the date. Damn that cruel.
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post #70 of 105
8/25/05 at 9:55am
Quote:
So, the new plan is to resurrect this thread every three years? Gotcha!
I can't believe we saw this just 10-months ago. We're ~2 years too early on the thread bump.
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post #71 of 105
8/25/05 at 10:23am
Quote:
If someone told me that we were actually running out of our world petroleum supply, maybe I could understand it.
Um..... We are. Google "Peak Oil" or just search here in After Hours for the long thread on "oil refineries". And nobody should post here for at least a year now!
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post #72 of 105
8/25/05 at 10:41am
around $2.65 a gallon for Regular 87 in the Buffalo, Ny area, $3.00 for premium.
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post #73 of 105
8/25/05 at 12:13pm
> Um..... We are. Google "Peak Oil" or just search here in After Hours for the long thread on "oil refineries".

Um, we don't know. That's just a theory.
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post #74 of 105
8/25/05 at 12:50pm
Well, I paid 99.5 per litre the other day, does that count?
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post #75 of 105
8/25/05 at 1:06pm
Quote:
Um, we don't know. That's just a theory.
Gravity is a "theory" also. New York Times article.
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post #76 of 105
8/25/05 at 1:16pm
They told us 30 years ago we were running out. Guess what we were not, but it sure made everyone run out for a tank of gas. I remember the shortage of the mid 70s well, long lines and all, and i was only a teen. I dont buy the story this time. Good reason to say thats why we pay $2.50 a gal. now. I think the real reason is cause we WILL buy it for our Navigators and Hummers. Glad i drive a dorky Saturn now.
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post #77 of 105
8/25/05 at 2:15pm
I understand that there is a constantly diminishing supply of oil, but I doubt that we are quite so direfully close to that end as some would think. We in the states are finally getting the screw the way much (but not all) of the rest of the world has been getting for some time now. The price for a barrel may be at an all time high, but the refineries are the ones milking that for everything that it's worth.

As for news reports, I doubt the capacity of the reserves and the overall consumption of oil have changed so much as to make the price of gas skyrocket in the last 10 months as it has. Might have a bit more to do with greed and politics...
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post #78 of 105
8/25/05 at 2:37pm
Ah, good old Peak Oil.

Canada has more oil than Saudi Arabia in the oilsands. The NYT article is very wrong about the break even amount for oilsand extraction - it's only about $12 now.
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post #79 of 105
8/26/05 at 1:36pm
Quote:
Canada has more oil than Saudi Arabia in the oilsands.


Invade Canada!
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post #80 of 105
8/26/05 at 2:08pm
No need to invade, invite Bryan Adams over for a new Mtv Unplugged show and hold him hostage! If they protest we can allow them to open franchises of their delicious Tim Hortons restaurants in our country.
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post #81 of 105
8/26/05 at 2:42pm
Hmmmm..... and gas & oil companies across the globe are recording record profits.

We aren't seeing a gas shortage, we are seeing a well designed collaboration within the industry to not compete with each other, thus allowing them to drive up prices and those glorious profits they've been enjoying these last few months.

At least the high cost of gas is driving many to use public transportation, car pool, and even buy hybrid cars - all of which helps our environment!
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post #82 of 105
8/26/05 at 2:46pm
Quote:
If they protest we can allow them to open franchises of their delicious Tim Hortons restaurants in our country.

Too late; they're already here! You are aware that there are 64 locations just in the state of New York, right?
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post #83 of 105
8/26/05 at 3:30pm
I've been paying $2.89 per gallon the last two weeks.

*sigh* Good times.

Oh yeah,I live in central California.
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post #84 of 105
8/26/05 at 3:46pm
Quote:
Too late; they're already here! You are aware that there are 64 locations just in the state of New York, right?

I've never seen one, are they all in NYC?
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post #85 of 105
8/26/05 at 5:17pm
Quote:
Gravity is a "theory" also.


Maybe in Virginia. Everywhere else it's know as the Law of Gravity.
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post #86 of 105
8/26/05 at 11:06pm
Quote:
I've never seen one, are they all in NYC?
I've seen them in Rochester and (I believe) Henrietta. Mostly along the border lands.
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post #87 of 105
8/28/05 at 6:02pm
Quote:
Canada has more oil than Saudi Arabia in the oilsands. The NYT article is very wrong about the break even amount for oilsand extraction - it's only about $12 now.
The extraction of bitumen from the tar sands currently takes massive amounts of natural gas, which is in decline in North America, and it can only be converted at a certain rate. Extracting bitumen from tar sands is a massive, environmentally devastating, energy intensive process. It's nothing like digging a hole in the ground and watching the oil spurt out. The energy returned on the energy that goes into the process is positive with tar sands right now, but not by much.

Peak oil is not a theory any more than turning a pitcher to the side and watching the beer flow out of it is a theory. There's a finite amount of the stuff. Every single field ever discovered in the world shows more or less the same depletion curve with very few exceptions. It's not a matter of if oil will peak, but when. And lots of people in the know say now or soon. People who disagree are rarely geologists, almost always economists who deal with paper not rocks.
Quote:
They told us 30 years ago we were running out. Guess what we were not, but it sure made everyone run out for a tank of gas. I remember the shortage of the mid 70s well, long lines and all, and i was only a teen. I dont buy the story this time.
I just don't understand the logic here. Because people have been wrong about the resource in the past means that the resource somehow defies nature and will never run out? Does that make any sense at all? People love to bring up the old fable about the boy who cried wolf, saying that people have been predicting the end of the oil age over and over for decades. Well, in my copy of that fable in the end the wolf really does come and eat all the sheep, leaving the villagers to starve and freeze.
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post #88 of 105
8/28/05 at 6:07pm
Yawn.

Yes, currently, extraction of oilsands does use lots of NG, which is a concern.

Tell me a number for peak oil. Then prove it. Prove to me that man knows the precise amount of oil left in the world.
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post #89 of 105
8/28/05 at 6:13pm
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. Kenneth Defeyyes and others has applied Hubbert's technique to the world, and so far it seems to be as valid as it was for the lower 48.

Most of the biggest oil areas in the world are state secrets. Saudi Arabia claimed to have 133bbl in 1980. Then in the late 80s they upped that claim to 260bbl. They've been pumping massive amounts of the stuff for decades. Their number of proved reserves has never gone down. You don't find that suspicious? They do not allow any third party to validate their numbers. You apparently trust them. I do not. They are using the latest and most sophisticated oil extraction techniques in existence in Saudi Arabia today. If you have 260bbl barrels in the ground you don't need that kind of technology, you just drill a hole and watch the gusher.

Oilmen like Kenneth Defeyes and Matthew Simmons who have been in the industry for decades know more about the subject than just about anyone. Look them up on google or read their books.
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post #90 of 105
8/29/05 at 8:40am
Quote:
We aren't seeing a gas shortage, we are seeing a well designed collaboration within the industry to not compete with each other, thus allowing them to drive up prices and those glorious profits they've been enjoying these last few months.

Sorry that theory doesn't really hold up very well. The oil companies don't control the price of crude, if they were all together planning pricing then it would be beneficial to one or many companies to drop the price by a fairly decent amount and make up profits on volume (people will drive out of their way to save 3 cents, imagine if they could save 30 cents a gallon), etc, etc.
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