Oil price over $147 for the first time-now above $80

[Ptarmigan]

I think the reason we don't build more nuclear plants is because too many people worry about a repeat of Chernobyl or Three-Mile Island. I'm sure if you asked people whether they would rather have an oil refinery or a nuclear plant, they'd say oil.

Chernobyl and Three-Mile Island were human error. Also, Chernobyl's reactor design required high pressure, which would make it prone to problems.

[HURAKAN]

Cryomaniac, sorry if you feel that when we talk about the gas prices in the US, we're not pluralistic and include the rest of the world. But we understand that if the US is getting a cold, the rest of the world is probably experiencing a fever. Like you have explained about what's happening in the UK, over the past few years the economy of the world have been going in a downward spiral and everything is tied to the oil price.

[Ptarmigan]

Its not illogical from the standpoint of Big Oil. I mean the prices could actually come down and the working man wont have to make a choice every day: Eat or fill gas tank..

Nothing will happen anytime soon to bring the price of a barrel of oil down and plenty will happen to keep boosting prices. The US hasnt shut down. The economy while sluggish isnt a total disaster. People are cutting spending elsewhere to compensate for higher gas prices and the resulting increased price of many goods and services. As long as the investors see this futures will continue to skyrocket.

Y'all aint seen nothing yet. Six dollar a gallon gas may soon be coming to a pump near you.

As much as I hope it does not happen, you are sadly right. Thankfully we are not seeing any repeat of the 1970s, when people had to wait in line for gas. Hopefully it will not happen. Of course the 1970s was not a good decade.

[Cryomaniac]

Cryomaniac, sorry if you feel that when we talk about the gas prices in the US, we're not pluralistic and include the rest of the world. But we understand that if the US is getting a cold, the rest of the world is probably experiencing a fever. Like you have explained about what's happening in the UK, over the past few years the economy of the world have been going in a downward spiral and everything is tied to the oil price.

Yeah, that is a good point. World economies in general have suffered, which in turn makes the US economy even worse.

[Cryomaniac]

Thankfully we are not seeing any repeat of the 1970s, when people had to wait in line for gas.

Yet.

[Ptarmigan]

Yet.

It is possible we could see a repeat again. So far we are lucky.

[Tstormwatcher]

Today I saw diesal at $4.79 a gal. Reg unleaded was at $3.75. This is in Eastern NC.

[dizzyfish]

Hubby filled up yesterday in anticipation of the price going up today (like it usually does). I was down three cents this morning.

[gtalum]

Thankfully we are not seeing any repeat of the 1970s, when people had to wait in line for gas.

Yet.

There is no shortage. We're not even close to a shortage. If prices continue to rise, demand will fall. Why would there be lines?

[Cryomaniac]

There is no shortage. We're not even close to a shortage. If prices continue to rise, demand will fall. Why would there be lines?

That's fine, but if people anticipate a big jump in prices then there is the possiblity of panic buying, which could cause shortages.

[gtalum]

That's fine, but if people anticipate a big jump in prices then there is the possiblity of panic buying, which could cause shortages.

At these prices, I don't see that happening.

[Dionne]

That's fine, but if people anticipate a big jump in prices then there is the possiblity of panic buying, which could cause shortages.

At these prices, I don't see that happening.

You got that right!! I've got to fill up my work truck this morning and don't even have a service call to make. It'll be around $90. Folks are definitely slowing down on the spending. Suspect a big drain on expendable income.

[Derek Ortt]

here's another solution, stop buying SUVs!. Their gas milage is not as great as that of smaller vehicles, increasing the demand for gasoline, causing prices to continue rising.

Yes, some will say they need the extra room. However, we made do for a very long time without half of the population having an SUV

[Ed Mahmoud]

here's another solution, stop buying SUVs!. Their gas milage is not as great as that of smaller vehicles, increasing the demand for gasoline, causing prices to continue rising.

Yes, some will say they need the extra room. However, we made do for a very long time without half of the population having an SUV

True enough, except back in the day families with three or four children could buy a station wagon.

Try getting four car seats in the back of a mid-sized car. You need either a van, a high end full sized car, or an SUV.


But there is no point for people w/o children who don't go off road to drive Hummers and Jeeps and Yukons, except for status and ego.

[gtalum]

Try getting four car seats in the back of a mid-sized car. You need either a van, a high end full sized car, or an SUV.

Or, here's a novel idea, don't have 4 kids.

[feederband]

Try getting four car seats in the back of a mid-sized car. You need either a van, a high end full sized car, or an SUV.

Or, here's a novel idea, don't have 4 kids.

Ok ....How do I get rid of some....

[Cyclenall]

Try getting four car seats in the back of a mid-sized car. You need either a van, a high end full sized car, or an SUV.

Or, here's a novel idea, don't have 4 kids.

Well, I personally believe money shouldn't decide how many kids you have.

[cycloneye]

NEW YORK (AP) -- Oil futures settled at a record high Monday, adding to the pressure on holiday drivers as gas and diesel also reached new records.

Light, sweet crude for June delivery rose 76 cents to $127.05 a barrel on the New York Mercantile Exchange, eclipsing the $126.29 record set last Friday.

http://money.cnn.com/2008/05/19/markets ... 2008051915




Another record high close in the oil market today.Among the causes for the new record being set today was the news that OPEC will not boost oil production before their meeting in September.

[Cryomaniac]

I think the reason we don't build more nuclear plants is because too many people worry about a repeat of Chernobyl or Three-Mile Island. I'm sure if you asked people whether they would rather have an oil refinery or a nuclear plant, they'd say oil.

Chernobyl and Three-Mile Island were human error. Also, Chernobyl's reactor design required high pressure, which would make it prone to problems.

Chernobyl was negligence in my opinion, but that's not the point.

The public perception though, because of these events, is that nuclear power is unsafe, and that's what's important, because the public perception is what causes the stalling of new developments.

[angelwing]

The noose around my neck is getting tighter each post, sigh (and I have to get a full tank tomorrow)