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gtalum
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#81 Postby gtalum » Thu Aug 11, 2005 2:21 pm

That's irrelevant.

There is a world supply of oil, and a world demand for oil. If Venezuela sells only to China, then China's demand for oil from the rest of the world will go down by the same amount. Thus it has no net effect on us. That's the beauty of a truly global market.
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#82 Postby kevin » Thu Aug 11, 2005 2:24 pm

I think you're underestimating the true damage that would do, because we would not be able to find a seller of that much oil instantaneously. If China buys all of Venezuela's oil that doesn't mean the wells in Saudi Arabia pump out more, or that China will cut imports from other nations. China is growing fast, and I think they could put it into reserves like we do.
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#83 Postby feederband » Thu Aug 11, 2005 2:26 pm

gtalum wrote:That's irrelevant.

There is a world supply of oil, and a world demand for oil. If Venezuela sells only to China, then China's demand for oil from the rest of the world will go down by the same amount. Thus it has no net effect on us. That's the beauty of a truly global market.



* sharpening my wooden spear to go out and get tonite food. Wife in corner of cave twisting sticks to get the fire going*

But that means we the US would not be getting any from them thus cutting off are supply so it would be relevent...
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#84 Postby feederband » Thu Aug 11, 2005 3:15 pm

therock1811 wrote:
feederband wrote:Just hit $66.00 a barrel..I'm telling s__t going to hit the fan soon...


You're kidding me, right?


Closed at 65.80 Gas national average $2.40... :eek:
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#85 Postby sertorius » Thu Aug 11, 2005 3:21 pm

gtalum:

I totally agree-it is really amazing that we have continued to use the same technology for transportation-that is a great post and point!!! I am not a technician (I teach Histry and Latin!!) but I have to think that we could come up with a better mode of power that is more effiecient. It is not the cars, but what drives them that is the problem. By the way, does gt stand for Georgia Tech? I am a University of Kansas Alum-we have had some great b-ball games the past two years!!!
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#86 Postby feederband » Thu Aug 11, 2005 3:24 pm

The problem is now though... I fear that something major will happen before there is any kind of relief...
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#87 Postby Kelarie » Thu Aug 11, 2005 3:26 pm

azsnowman wrote:
azsnowman wrote:BTW....we hit "2.59 a GALLON TODAY!" :x :x :x :x $3.00 here we COME, can't WAIT until we invade Iran, Saudi Arabia NEXT! :roll: SOON I'm SURE!

Dennis


BTW....Haliburton is hiring :lol:

Dennis 8-)


Really, wonder if they need a Geologist??? :lol: Maybe I should brush out the old resume, maybe I would be able to negotiate a discount for gas as part of my salary package....
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#88 Postby gtalum » Thu Aug 11, 2005 3:38 pm

sertorius wrote:By the way, does gt stand for Georgia Tech? I am a University of Kansas Alum-we have had some great b-ball games the past two years!!!


Indeed it does stand for Georgia Tech. :)
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#89 Postby gtalum » Thu Aug 11, 2005 3:39 pm

feederband wrote:The problem is now though... I fear that something major will happen before there is any kind of relief...


Highly doubtful. As I mentioned way upthread, the rising price of gas is an annoyance, but it's effect on prices overall just isn't all that significant.
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#90 Postby feederband » Thu Aug 11, 2005 3:42 pm

gtalum wrote:
feederband wrote:The problem is now though... I fear that something major will happen before there is any kind of relief...


Highly doubtful. As I mentioned way upthread, the rising price of gas is an annoyance, but it's effect on prices overall just isn't all that significant.



It is of greatest significance...The price of fuel raises the cost of EVERYTHING.....
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#91 Postby feederband » Thu Aug 11, 2005 3:50 pm

The price oil effects the prices of everything....If you don't believe this show me proof...How can you sit there and say its no big deal....Your last name must be texaco....
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#92 Postby gtalum » Thu Aug 11, 2005 3:54 pm

feederband wrote:It is of greatest significance...The price of fuel raises the cost of EVERYTHING.....


Yeah, but not by a lot. The CPI hasn't been increasing very quickly.
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#93 Postby gtalum » Thu Aug 11, 2005 3:55 pm

feederband wrote:Your last name must be texaco....


No, it's Citgo, silly. My name's Bob Citgo. ;)
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#94 Postby canegrl04 » Thu Aug 11, 2005 3:58 pm

Its $2.29 in my town right now.When it gets to $3.00 a gallon,I won't be going anywhere but to the grocery store and appointments.

If we go after Iran,look for oil to jump to $90-$100 a barrel fast :eek:
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#95 Postby feederband » Thu Aug 11, 2005 4:01 pm

canegrl04 wrote:Its $2.29 in my town right now.When it gets to $3.00 a gallon,I won't be going anywhere but to the grocery store and appointments.


According to Bob Citgo thats all you should be doing anyway... :wink:
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#96 Postby feederband » Thu Aug 11, 2005 4:03 pm

gtalum wrote:
feederband wrote:It is of greatest significance...The price of fuel raises the cost of EVERYTHING.....


Yeah, but not by a lot. The CPI hasn't been increasing very quickly.



Well a whole bunch of little everythings equals alot...
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#97 Postby hurricanedude » Thu Aug 11, 2005 6:48 pm

2.67 a gallon around here..... :eek:
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#98 Postby senorpepr » Fri Aug 12, 2005 3:37 am

$2.57-2.59 here except for at Sam's Club. They have gas at $2.04. Guess where I'm fueling at...
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#99 Postby Petmom » Fri Aug 12, 2005 6:49 am

It is not good. I am happy I have a Honda Accord, and not some big SUV. Now, still compared to the gas prices in Norway and other European countries, this is not too bad. Gas prices in Norway reached more than 6 dollars a gallon..................

:eek:
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#100 Postby JenBayles » Fri Aug 12, 2005 7:24 am

I have to laugh. One prominent theme throughout this entire thread is that there is some Oil Kingpin out in the world trying to ruin our lives. There's a whole lot more to the oil industry than gasoline, but it's the product with which we're most up-close-and-personal. Honestly folks, it really is just supply and demand at work here.

The other little item nobody wants to think about is the amount of taxes on a gallon of gas. The feds put on 18.4 cents a gallon. Here in Texas it's a whopping 20 cents a gallon. And let's not forget about out counties and cities dipping into our pockets for their share. Want lower gas prices? I suggest you start lobbying your representatives for lower taxes.
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