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BusinessWeek - Oil: OPEC in Charge, $90 on the Way?

Discussion in 'Sports and News' started by Inky_Wretch, Jul 22, 2007.

  1. Inky_Wretch

    Inky_Wretch Well-Known Member

  2. Football_Bat

    Football_Bat Well-Known Member

    They said the same thing last year and it was back around $55 at the end of August. Lack of hurricanes helped, of course.
  3. chazp

    chazp Active Member

    $90 a barrel would make the price per gallon what, $5.00 plus a gallon? Let's hope not.
  4. Boom_70

    Boom_70 Well-Known Member

    Why not? $5.00 a gallon might force automakers and drivers to get serious about ways to reduce fuel consumption. It would be good for the enviroment and make us less dependant on the Middle East.

    $90 a barrel would be the best possilble thing to happen.
  5. slappy4428

    slappy4428 Active Member

    Yeah, but changes by the automakers wont happen overnight,.. in the short run, it's a crippler.
  6. BitterYoungMatador2

    BitterYoungMatador2 Well-Known Member

    $90 a gallon might raise our mileage to, what? 35 cents a gallon?
  7. Batman

    Batman Well-Known Member

    This argument always pisses me off. Long-term, higher oil prices will spur interest in alternative fuels and make car companies increase gas mileage. Consumer demand will force it.
    Short-term, it will absolutely, positively nuke our economy.
    Not everybody lives in an area with good (or any) public transportation. At $5 a gallon, getting to and from work will cost a lot of lower-income people half their paychecks. Spending more money on gas means less on other things.
    Even if they do live in big cities, and can get to or from work relatively cheaply, higher fuel costs are passed down every link in the economic chain. Look at what's happened already with food prices. It costs more for farmers to harvest crops, more to get the stuff to market, and more to buy it. In short, you end up with a recession because people can't afford to buy anything other than gas. Once it corrects itself, you get a nice case of inflation.
    Anything over $3 a gallon makes it rough on the vast majority of Americans.
  8. Boom_70

    Boom_70 Well-Known Member

    You really have to think of the greater good though. $5 gas in long term would be better for the country. People would adjust and mass transportation would get caught up. We would be free of our middle east dependency on oil.
  9. Inky_Wretch

    Inky_Wretch Well-Known Member

    There have been too many decades of suburban sprawl and zero investment in public transportation in most of the nation. In Dallas, for example, public transportation is almost non-existant and people routinely have 45-60 minute commutes.
  10. The Big Ragu

    The Big Ragu Moderator Staff Member

    We won't be free of our dependency on oil until we have an alternative fuel source that is cheaper. Even at $5 a gallon for gasoline, we wouldn't have that alternative. So yeah, it would be a disaster. And it probably isn't as simplistic as us needing "something to spur some good-old fashioned American innovation." The internal combustion engine didn't suddenly get invented because an economic need called for it exactly at that time. Things don't typically work that way. It was the right time because of technological know how. If things didn't work that way, by and large, we'd have robots doing all of our work and we'd be living in a Jetsons-like world. It isn't a matter of the will for that not being there. And it isn't a matter of us not wanting a cheap, plentiful fuel source either. There are plenty of smart people who would love to make that happen ... and haven't been able to.
  11. Boom_70

    Boom_70 Well-Known Member

    What about ethanol - I believe that holds great promise as alternative.
  12. jgmacg

    jgmacg Guest

    So do we make a series of small, wrenching adjustments now - higher prices at the pump, mass transit bond issues, meaningful research into alternative fuels and technologies - and suffer the rotten economy and inflation in brief, but bearable, intervals?

    Or do we stand pat and do nothing until the oil's gone?

    Option 1 is uncomfortable.

    Option 2 constitutes a global economic meltdown a lot of people - even in developed countries - wouldn't survive.
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