For those of you in shock over gas prices...

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[ARCHIVED THREAD] - For those of you in shock over gas prices... (Page 1 of 2)

Posted: 8/14/2005 8:23:54 PM EDT

I'll throw a little fuel on the fire.

I took this photo just outside Corpus Christi, Texas on February 14, 1999.

My, how things have changed.

Posted: 8/14/2005 8:24:44 PM EDT

[#1]

Posted: 8/14/2005 8:24:48 PM EDT

[#2]

that just makes me angry.

Posted: 8/14/2005 8:25:26 PM EDT

[#3]

Quoted:
that just makes me angry.

It's all Bush's fault

Posted: 8/14/2005 8:25:29 PM EDT

[#4]

Oh my.

I had to stare at it awhile before I realized it wasn't a photoshop.

Posted: 8/14/2005 8:26:47 PM EDT

[#5]

I was just thinking the other day, that it really wasn't that long ago that you could get regular for about a dollar.

Posted: 8/14/2005 8:29:51 PM EDT

[#6]

Found another.

Coeur d'Alene, ID. February 16, 2002.

And they thought it was bad *then*.

Posted: 8/14/2005 8:30:11 PM EDT

[#7]

Airwolf. I don't know what to say. other than, I hate you. You remind me of pain.

Time out.

<this is his computer...
he is swearing about the $#&! gas prices...
he is throwing things...

he is saying things about ROPers and Asian governments...
>

Ok, I am back. I don't hate you but, this just makes me sad. I am a gearhead. I love big engines, multi-carbs, and anything that runs on liquid fossil fuel. damn. I miss the good ol days.

Posted: 8/14/2005 8:32:39 PM EDT

[#8]

The high gas prices make me feel better about riding my little Ninja 250 around

Posted: 8/14/2005 8:33:50 PM EDT

[#9]

I remeber when I was in college back in 1999, and I could fill my Ford Escort's tank on a $10 bill. Right now I am lucky if I can fill my Mustang's tank for under $30.

Posted: 8/14/2005 8:34:35 PM EDT

[#10]

Gas will never go below $2 a gallon, and not below $2.50 in some places. The market has shown that it will pay the price, and the oil companies will never sell for less even if the price of oil dropped dramatically.

Incidentally, I remember those prices in Southern CA around 1990. Since then it was rare to see gas that cheap though $1.20 a gallon wasn't really expensive either.

Posted: 8/14/2005 8:34:43 PM EDT

[#11]

CSM I'm right there with you. Spent almost $50 bucks today to put about 17 gallons in my van.

When I was going through my parents stuff in the process of getting ready to sell the house I came across some gas card receipts for a vacation we made in the 70's. I saved them but they're in storage so I can't scan them and post but the prices were around 40 CENTS per gallon.

Posted: 8/14/2005 8:35:43 PM EDT

[#12]

I remember when gasoline was $0.259/gallon regular

Posted: 8/14/2005 8:38:48 PM EDT

[#13]

I remember paying .76/gal back in HS which was the late 90s.

It too know what it was like to fill up an escort for $10, and now I cant even come close to that with an omni.

Posted: 8/14/2005 8:39:18 PM EDT

[#14]

I wish my pay would go up like the gasoline prices

Posted: 8/14/2005 8:41:39 PM EDT

[#15]

Quoted:
I wish my pay would go up like the gasoline prices

+1

I did get a raise this summer but still.

Posted: 8/14/2005 9:17:58 PM EDT

[#16]

Quoted:
I remember when gasoline was $0.259/gallon regular

And do you remember how much a new car cost back then??

Posted: 8/14/2005 9:19:56 PM EDT

[#17]

it cost 80 bucks to fill my tank

Posted: 8/14/2005 9:20:54 PM EDT

[#18]

Hey, inflation's only 3% though, so your math must be all wrong. Gas prices must have only gone up 3%, give or take.

And real estate must have only gone up 3%.

And food, too. 2-3% tops. Milk and meat have been steady as she goes for years now.

Posted: 8/14/2005 9:22:43 PM EDT

[#19]

I keep hearing that, adjusted for inflation, gasoline would have to be up to $4.50 a gallon to equal the real cost of what it was in 1979... and oil would have to top 90 dollars a barrel.

Posted: 8/14/2005 9:27:25 PM EDT

[#20]

I keep hearing about "adjusted for inflation" like thats not supposed to make me feel that bad.

I remember paying $.99 in 1998 for gas. Now Im paying on average $2.50 and my fucking paycheck isnt 2.5x bigger these days.

Posted: 8/14/2005 9:31:38 PM EDT

[#21]

Quoted:
I keep hearing about "adjusted for inflation" like thats not supposed to make me feel that bad.

I remember paying $.99 in 1998 for gas. Now Im paying on average $2.50 and my fucking paycheck isnt 2.5x bigger these days.

Funny thing is World oil stocks piles are actually higher now that they were then... makes you wonder don't it.

These oil prices are about strictly one thing... the Arabs and Venezuela punishing the US and the President politically.

Posted: 8/14/2005 9:31:57 PM EDT

[#22]

Quoted:
I keep hearing about "adjusted for inflation" like thats not supposed to make me feel that bad.

I remember paying $.99 in 1998 for gas. Now Im paying on average $2.50 and my fucking paycheck isnt 2.5x bigger these days.

Well, maybe you don't get how compound interest works. Take the Rule of 72 for example. You take your rate of increase, say 7%, and divide it into 72. 7 into 72 goes ten times plus a little. So, every ten years plus a little, the figure doubles.

1998 was what, seven years ago? If you had 3% inflation, your prices would have doubled every (72/3 = 24) 24 years, so we've had 3% inflation for 7 years and prices have gone up 250%. Makes perfect sense, doesn't it?

Posted: 8/14/2005 9:37:42 PM EDT

[#23]

Oh, please. Lay off the cliche "greedy big oil" sandy mangina speak. Back in 1998 when the rest of the country was enjoying low prices, the oil industry was losing its strength. Tha majors merged as the only means of survival but the consumer never had it cheaper. People could afford huge, inefficient vehicles and could afford to drive them 30,000 miles a year.

Now that "greedy big oil" is turning a profit, they can now afford to develop the smaller fields. And the majors have been doing just that, only they are about 6-18 months late in doing so because capital necessary for development had been hard to secure until 5 years ago.

Trust me, gas prices will plummet in another 18 months. Once the independents start producing, the market will become glutted and price per barrel will fall under $30. 18 months. Mark my word.

Posted: 8/14/2005 9:38:25 PM EDT

[#24]

when i was in so cal. july 4th weekend.
didnt get gas there of course.

Posted: 8/14/2005 9:40:18 PM EDT

[#25]

Quoted:
Quoted:
I keep hearing about "adjusted for inflation" like thats not supposed to make me feel that bad.

I remember paying $.99 in 1998 for gas. Now Im paying on average $2.50 and my fucking paycheck isnt 2.5x bigger these days.

Well, maybe you don't get how compound interest works. Take the Rule of 72 for example. You take your rate of increase, say 7%, and divide it into 72. 7 into 72 goes ten times plus a little. So, every ten years plus a little, the figure doubles.

1998 was what, seven years ago? If you had 3% inflation, your prices would have doubled every (72/3 = 24) 24 years, so we've had 3% inflation for 7 years and prices have gone up 250%. Makes perfect sense, doesn't it?

Wonk wonk wah wonk, wah wonk wonk wah...

Posted: 8/14/2005 9:40:31 PM EDT

[#26]

I'm getting more and more to the point of saying "Phuck it" with it all. My job (masonry) has me driving all over, usually to the tune of 1 1/2 tanks a week, just for work. 4 yrs ago when I started that was expensive, but now it's getting to the point where I'm honestly looking to ditch my job for one where I can ride my bike.

Medically speaking, I qualify as "disabled" thanks to a hand injury, but I've adapted and can work as well as anybody on the job. When you look at all the freebies that come with being on SS and Welfare I could make a better living sitting on my ass all day than I do busting it on the job. If only I could sink so low.......

Posted: 8/14/2005 9:41:00 PM EDT

[#27]

Quoted:
Quoted:
I keep hearing about "adjusted for inflation" like thats not supposed to make me feel that bad.

I remember paying $.99 in 1998 for gas. Now Im paying on average $2.50 and my fucking paycheck isnt 2.5x bigger these days.

Funny thing is World oil stocks piles are actually higher now that they were then... makes you wonder don't it.

These oil prices are about strictly one thing... the Arabs and Venezuela punishing the US and the President politically.

Not quite correct. Rexerves, not stocks. One cannot sell reserves, they have to be pumped, processed and in the crude "pipeline" to be considered "stocks".

At best, the US has 30 days of refined product in storage, distribution or sale. Since the average tank is somewhat less than half full, if everyone were to go out and try to top off their tanks tomorrow, we would run out before noon. It is that tight.

Posted: 8/14/2005 9:42:39 PM EDT

[#28]

Quoted:
Oh, please. Lay off the cliche "greedy big oil" sandy mangina speak. Back in 1998 when the rest of the country was enjoying low prices, the oil industry was losing its strength. Tha majors merged as the only means of survival but the consumer never had it cheaper. People could afford huge, inefficient vehicles and could afford to drive them 30,000 miles a year.

Now that "greedy big oil" is turning a profit, they can now afford to develop the smaller fields. And the majors have been doing just that, only they are about 6-18 months late in doing so because capital necessary for development had been hard to secure until 5 years ago.

Trust me, gas prices will plummet in another 18 months. Once the independents start producing, the market will become glutted and price per barrel will fall under $30. 18 months. Mark my word.

Yea we been through this before prices will take a big drop when foreign elements can no longer manipulate the markets due to increased production (a glut)... the high oil prices if they don't cause a major recession might actually be a blessing in disguise in that regard.

Posted: 8/14/2005 9:45:25 PM EDT

[#29]

Quoted:
Quoted:
Quoted:
I keep hearing about "adjusted for inflation" like thats not supposed to make me feel that bad.

I remember paying $.99 in 1998 for gas. Now Im paying on average $2.50 and my fucking paycheck isnt 2.5x bigger these days.

Funny thing is World oil stocks piles are actually higher now that they were then... makes you wonder don't it.

These oil prices are about strictly one thing... the Arabs and Venezuela punishing the US and the President politically.

Not quite correct. Rexerves, not stocks. One cannot sell reserves, they have to be pumped, processed and in the crude "pipeline" to be considered "stocks".

At best, the US has 30 days of refined product in storage, distribution or sale. Since the average tank is somewhat less than half full, if everyone were to go out and try to top off their tanks tomorrow, we would run out before noon. It is that tight.

I meant world stocks and not reserves... meaning why is crude at 65+ a barrel.

The US can only solve that problem by building refining capacity which there is no sign is going to happen.

Posted: 8/14/2005 9:49:55 PM EDT

[#30]

Quoted:
Quoted:
Quoted:
I keep hearing about "adjusted for inflation" like thats not supposed to make me feel that bad.

I remember paying $.99 in 1998 for gas. Now Im paying on average $2.50 and my fucking paycheck isnt 2.5x bigger these days.

Well, maybe you don't get how compound interest works. Take the Rule of 72 for example. You take your rate of increase, say 7%, and divide it into 72. 7 into 72 goes ten times plus a little. So, every ten years plus a little, the figure doubles.

1998 was what, seven years ago? If you had 3% inflation, your prices would have doubled every (72/3 = 24) 24 years, so we've had 3% inflation for 7 years and prices have gone up 250%. Makes perfect sense, doesn't it?

Wonk wonk wah wonk, wah wonk wonk wah...

Maybe you'd learn a little better if I drew you a picture, ya think?

Posted: 8/14/2005 10:00:06 PM EDT

[#31]

Quoted:
Quoted:
Quoted:
Quoted:
I keep hearing about "adjusted for inflation" like thats not supposed to make me feel that bad.

I remember paying $.99 in 1998 for gas. Now Im paying on average $2.50 and my fucking paycheck isnt 2.5x bigger these days.

Well, maybe you don't get how compound interest works. Take the Rule of 72 for example. You take your rate of increase, say 7%, and divide it into 72. 7 into 72 goes ten times plus a little. So, every ten years plus a little, the figure doubles.

1998 was what, seven years ago? If you had 3% inflation, your prices would have doubled every (72/3 = 24) 24 years, so we've had 3% inflation for 7 years and prices have gone up 250%. Makes perfect sense, doesn't it?

Wonk wonk wah wonk, wah wonk wonk wah...

Maybe you'd learn a little better if I drew you a picture, ya think?

Teach us dumb old guy more, oh great one!

Posted: 8/14/2005 10:04:59 PM EDT

[#32]

Quoted:
Quoted:
Quoted:
Quoted:
I keep hearing about "adjusted for inflation" like thats not supposed to make me feel that bad.

I remember paying $.99 in 1998 for gas. Now Im paying on average $2.50 and my fucking paycheck isnt 2.5x bigger these days.

Funny thing is World oil stocks piles are actually higher now that they were then... makes you wonder don't it.

These oil prices are about strictly one thing... the Arabs and Venezuela punishing the US and the President politically.

Not quite correct. Rexerves, not stocks. One cannot sell reserves, they have to be pumped, processed and in the crude "pipeline" to be considered "stocks".

At best, the US has 30 days of refined product in storage, distribution or sale. Since the average tank is somewhat less than half full, if everyone were to go out and try to top off their tanks tomorrow, we would run out before noon. It is that tight.

I meant world stocks and not reserves... meaning why is crude at 65+ a barrel.

The US can only solve that problem by building refining capacity which there is no sign is going to happen.

No, stocks of oil are not anything close to high. Most crude terminals are less than 20% full. And refined product terminals are less than that.

But then again, most refineries are running just fine on thier baseload capacity. The incremental cost of refining that additional MB is the huge jump. You see, most refineries run on a baseload operation and the oil they buy is under long term contract, several million barrels per month. Any additional the market requires comes at a very high price now.

This is why oil at a current $67/bbl and $2.56/gallon gasoline does not mirror the ratio of 1998 where oil was $12/bbl and gas was $0.73/gallon.

In closing, the prices ARE working. How many have seen lines? Dry pumps? Remember the 70's?

Posted: 8/15/2005 4:59:27 AM EDT

[#33]

Quoted:
CSM I'm right there with you. Spent almost $50 bucks today to put about 17 gallons in my van.

When I was going through my parents stuff in the process of getting ready to sell the house I came across some gas card receipts for a vacation we made in the 70's. I saved them but they're in storage so I can't scan them and post but the prices were around 40 CENTS per gallon.

But to put it in context, what was the average wage? Minimum wage?

Posted: 8/15/2005 5:19:06 AM EDT

[#34]

Quoted:
Gas will never go below $2 a gallon, and not below $2.50 in some places. The market has shown that it will pay the price, and the oil companies will never sell for less even if the price of oil dropped dramatically.

I agree. Why should gas companies drop prices now that we've established what we're willing to pay???

I suspect equilibrium price is slightly less (0.10 or 0.15) than the prices are now.

Posted: 8/15/2005 5:24:17 AM EDT

[#35]

Gas is what it is. All we can do is bitch, moan, bend over and take it.

Posted: 8/15/2005 5:26:50 AM EDT

[#36]

The local farm supply place in NE GA had gas for $ .66 back in 99. If we ever see gas near $1.50 again I will be happy.

Posted: 8/15/2005 7:04:08 AM EDT

[#37]

The economy is comprised of peaks and valleys.......fuel prices will reach a valley again.

Posted: 8/15/2005 7:21:34 AM EDT

[#38]

The other thing is that there are some cars that have to run on 89 or higher.

Example:My dad's service truck. 2 tanks, 23 and 27 gallons respectively. Have to be filled at the same time. Has to run "Mid-grade" 89 octane or better, otherwise the engine is ruined. It's a 2004 GMC 3500. He pays $80 in gas.

Posted: 8/15/2005 8:30:39 AM EDT

[#39]

Quoted:
I remember when gasoline was $0.259/gallon regular

Me, too, and that was SUNOCO Hi test!

Posted: 8/15/2005 8:33:46 AM EDT

[#40]

Quoted:
Oh, please. Lay off the cliche "greedy big oil" sandy mangina speak. Back in 1998 when the rest of the country was enjoying low prices, the oil industry was losing its strength. Tha majors merged as the only means of survival but the consumer never had it cheaper. People could afford huge, inefficient vehicles and could afford to drive them 30,000 miles a year.

Now that "greedy big oil" is turning a profit, they can now afford to develop the smaller fields. And the majors have been doing just that, only they are about 6-18 months late in doing so because capital necessary for development had been hard to secure until 5 years ago.

Trust me, gas prices will plummet in another 18 months. Once the independents start producing, the market will become glutted and price per barrel will fall under $30. 18 months. Mark my word.

I'll bet ya a six pack it will never be that cheap again.

There's no reason for it, we're already conditioned to pay this much...and there'll ALWAYS be something to make the speculators nervous to keep the per barrel price above $50.

I hope you're right, but I like Murphy's Irish Red if you're not.

Posted: 8/15/2005 8:37:04 AM EDT

[#41]

my next form of transport

Posted: 8/15/2005 8:40:10 AM EDT

[#42]

glad i bought my acura. gets 35mpg

Posted: 8/15/2005 8:41:59 AM EDT

[#43]

Thos prices are totally believeable. I remember the spring of '99 I was down in Atlanta and I paid 0.72/gallon.

Posted: 8/15/2005 8:43:59 AM EDT

[#44]

Sure wish I hadn't bought that Siverado,36 gal tank..................................

Posted: 8/15/2005 8:45:49 AM EDT

[#45]

Airwolf: that picture and 2.50 will get you a gallon of 87oct here.

Posted: 8/15/2005 8:52:14 AM EDT

[#46]

Anyone have any experience with the Buell Blast bikes?

They supposedly get 73 mpg and are pretty quick.

Unfortunately, I did the math... my car gets about 31 mpg now, so if I drove it to work and back (35 mi. each way) all year, I would save about $750. That's great, but I'm in PA... so add in wintertime, and rain, and other variables that would cause me to take the car and leave the bike at home, and I would only be saving MAYBE $400/yr. Then throw in yearly bike insurance, and the savings would be gone.

Oh well. Sticking with the car, I guess.

Posted: 8/15/2005 9:01:03 AM EDT

[#47]

Quoted:
my next form of transport

powersports.honda.com/assets/images/model/model_hero_shot/Scooters/2005/large/Big_Ruckus.jpg

Thats not a joke . Last year I bought a Honda 70 repo w/90cc upgrade (The Stroker

) 4 Sp tranny . It only goes 45mph at over 5K feet , I could change the sproket to get more speed but I'd lose bottom end . IT GETS 124 MPG . It gets me around town old people

love it and ask if its origanal ? @ $1700 w/ 4sp and 90cc upgrade .

YES it's ChiCom Blah and Blah . I'm done w/ "real motorcycles" as this area is a meatgrinder ....

Retrocycles or retrobikes . com

Guy nicknamed Retro Joe very good to work with .

Posted: 8/15/2005 9:03:26 AM EDT

[#48]

I have a picture from the late 70s that shows pumps at $1.87

In the 70's'

You think its bad now? You aint seen nothing yet. $1.87 in the 70s would be equal to well over $3.75 gallon now. Wait until we have odd/even days and everyone is in a rush to buy lockable gas caps.

Posted: 8/15/2005 9:06:30 AM EDT

[#49]

Thank our hippy friends who don't want to drill Antarctica or Florida.

ETA: Why preserve Antarctica? NO ONE LIVES THERE EXCEPT 5 SCIENTISTS ANYWAY

Posted: 8/15/2005 9:08:04 AM EDT

[#50]

Quoted:
I have a picture from the late 70s that shows pumps at $1.87

In the 70's'

You think its bad now? You aint seen nothing yet. $1.87 in the 70s would be equal to well over $3.75 gallon now. Wait until we have odd/even days and everyone is in a rush to buy lockable gas caps.

I was a kid in the early 70's Locking gas caps no shit , lines around the block . People were stealing gas from car lots ....each other , good greif .

[ARCHIVED THREAD] - For those of you in shock over gas prices... (Page 1 of 2)

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