(crude) oil price discussion thread

I think most are either mis-informed or choose to ignore the facts.

 

Reflected in Toyota's USA sales by division:

• SUVs +34% for year
• light trucks +17%
• passenger vehicles -16% (Prius -9.9%)

Hypothesis:

• gas percieved as cheap
• skepticism of price increases
• apocalapse thinking (SUV or pickup drive to safety)

Regardless of what we might like to believe, folks are voting with their wallets.

Bob Wilson

 

IMO - there's a good chance that oil will push record levels by the end of the year as long as the price keeps on increasing steadily... If not this year, next year for sure.

 

Some are blaming the speculators, again, wish I knew.

 

It was bound to happen when the US pushed for prices to rise in 2003, Iraq was the key that was needed to open the door. Now the ministers of both Iraq and Kuwait have joined in to push for higher prices for oil, humm, I wonder who supposedly spent $100's of billions and countless lives to help them, anyone know?

In either case, Iraq and Iran are now joined at the hip thanks to the US, a powerful oil lobby now. And as long as Americans don't ween themselves off of oil, they will pay dearly for their stupidity and ignorance in paying their enemies to hate them.

 

I wonder when this recent mini-bubble will pop.

I doubt we hit $4 from this particular run up, nationally, but if we do I think we'll have some more people come to the dark side. Not Priuses, but in general more awareness. When prices dropped down so low after the 2008 bubble people soon forget and we've had a slow boil back up. But people keep buying huge vehicles and spending great amounts of their pay on gas. If we hit national average of $4 again, just three years after the last time, it will be harder for people to tell themselves an 18 mpg vehicle fits into their needs.

 

Nice little bump today indeed.