the bigger question is, when it does pop, how much of it will be a bubble?
Say oil hits $200 in the next two years and then pops, it could drop down to $150 still and level out.
The real problem is the US dollar. If you fix that problem, the rest will follow.
I love seeing gas prices go up, because if it goes up to 5$ it’s only going to cost me about 15 more dollars to fill my tank, but I think if gas keeps going up shit will hit the fan soon and someone will do something to lower it again
Most of the stuff I’ve read says supply and demand based pricing would put oil around 50-60/barrel.
have any links to the articles? I am truly interested.
I was under the impression that just with the lowered value of the US dollar it should be at $60, and then add in increased demand and…well you know.
It is such a complex thing that it is hard to really know for sure.
Dumb question, but wern’t the gas prices supposed to drop after memorial day from the state tax cut?
87 oct. in Boston,NY is 4.279 a gallon 
i payed $30 just to fill a half a tank… WTF??
But it goes by speculation instead, correct? I don’t remember what I heard the other day but they are trying to repeal a bill (maybe?) about the effect of speculation on the price of gas… does that sound right? I wish I could remember if it was cnn or what that I was watching but I do remember hearing them say if it was driven by supply and demand the price would be ~1/2 what it is now.
::edit:: looking now because its driving me nuts that I can’t remember where I saw that…
I wonder if gas will EVER be sub $2.00 a gallon.
I would friggen love it if it was like $1.50 a gal. I’d trade my car in on a range rover in a second 
i remember hearing something like that
it now averages 4.00$ a gallon nationwide and 5.00 for 87 in cali :tantrum:
That oughta make all the schizofrenic day traders go “Ahhh sell sell sell!” and the price come down until Chavez farts and then they’ll go “Ahhh buy buy buy” and the price will go back up to $137 for closing today.
Naw for real though, that’s a good sign.
i guess that doesnt matter…
Oil prices spiked more than $5 a barrel on Monday to a trading record of $139.89
I doubt a production boost will do much, if anything, since it’s not a supply issue.
Where are the gas lines? Where are the gas stations who have run out of fuel? Where is the “you can only gets gas on odd or even days” policy? Where are the rationing coupons? None of these are happening because there isn’t a supply issue.
There is however a major economics issue. The dollar is weak, so investors put money into things like oil. To buy an oil contract you only need about 7% down, vs 50% down for a stock, so big hedge funds can cause massive swings in the price of oil by moving only small amounts of capital.
We’re seeing it today. Saudis say they’ll bump production, which would lower the price if it was a supply issue, but it jumped $4. It jumped on a weak economic report being released that caused the dollar to give up the gains it made last week.
I want gas to go to 10 dollars a gallon.
Just because it’s funny to hear all the poor people complain.
You make good money, but you don’t make enough to continue your current lifestyle @ $10 gas. I bet you could afford the gas for your car, but when you factor in how much everything else would go up, combined with how many businesses would fail probably affecting your place of employment, you’d be complaining too.
I don’t doubt i would make lifestyle changes, but i wouldn’t complain about it. It’s just one of those things that bitching isn’t going to fix… but it’s entertaining to watch people try.
if people dont bitch about it what are they supposed to do? sit back and take it up the ass and not complain?
he’s getting at the point that it’s effecting more than just how much it costs to fill up your tank.
sure. but if you want to do SOMETHING about it, bitching to your peer is not going to help.
*affecting
i understand his point. everything is going to get more expensive, but what can we do? Really… No one in this country likes the high gas prices. If we all bitched, maybe they would… nope, no they wouldn’t…