$7.50 a gallon gas? - BMW Luxury Touring Community
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post #1 of 81 Old May 7th, 2008, 9:42 am Thread Starter
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Question $7.50 a gallon gas?

Oil is at $120. a barrel now. Some in the know are saying it could reach $150 to $200 within 24 months. That would make gas at rhe pump average $7.50 a gallon. Hard to imagine, but apparently very possible. What would you do to adjust to gas that high? I have a gas powered motorhome that gets 8 mpg. I'm thinking I should get rid of it now.

Don Mosley MSgt, USAF, Retired
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post #2 of 81 Old May 7th, 2008, 9:56 am
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Re: $7.50 a gallon gas?

And in Europe, where they are paying very high now, what does that do for them?

As for me, I think I might start trying to ride a motorcycle.



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post #3 of 81 Old May 7th, 2008, 10:02 am Thread Starter
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by grifscoots
And in Europe, where they are paying very high now, what does that do for them?

As for me, I think I might start trying to ride a motorcycle.
At that price, it's going to cost $50.00+ to fill an LT depending on what part of the country you are in. Not to mention how it will affect the price of everything else, like groceries, air fare, and most everything else.

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post #4 of 81 Old May 7th, 2008, 10:20 am
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by grifscoots
And in Europe, where they are paying very high now, what does that do for them?

As for me, I think I might start trying to ride a motorcycle.
Duuuuude, that's scary! ACTOOOALLY "RIDE"?!?!?! farout, man..

Mosley.. don't sell the wagon.. might need it to live in... just park and live in.

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post #5 of 81 Old May 7th, 2008, 10:22 am
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by grifscoots
And in Europe, where they are paying very high now, what does that do for them?

As for me, I think I might start trying to ride a motorcycle.
For you, not a good idea. You're too old to start something new.

dan
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post #6 of 81 Old May 7th, 2008, 10:46 am
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Re: $7.50 a gallon gas?

Right now the cost of diesel is killing me as I use a motorhome for my business as a vendor at various MC rallies and shows.
One of the things I'm doing along with the other vendors I've talked to is cutting out all the small shows that are more then 4 hrs from my homebase. This will kill many of the smaller rallies and MC shows but it's no longer cost effective to do them.
It's unlikely gas will get that high in that short period of time as the economy just can't support it. It's approaching it right now. People are cutting back. In fact I met a fellow who delivers gas to gas stations and he's only doing it four days instead of five because of lack of demand in this area.
Some people are looking at wood/pellet stoves and the such here in SE Pa. Some people aren't traveling far or are not taking a vacation this year.
My local MC dealers with the exception of Harley are doing a very good business, scooter sales are strong, and people are trading in their SUV's in droves.
My prediction is that this oil boom will be a somewhat of a bust by mid to late summer as supplies become more then demand. I just hope that the next president really becomes serious about becoming more independent and really cut back big time on our dependents of foreign oil suppliers, something that should have started 30 years ago. If it did we wouldn't be in the mess we're in right now!
As for selling your MH, if you can I'd hold on to it right now. People are only getting pennies on the dollars for them at the the moment.
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post #7 of 81 Old May 7th, 2008, 10:59 am
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by grifscoots
And in Europe, where they are paying very high now, what does that do for them?

As for me, I think I might start trying to ride a motorcycle.
Yesp - we pay £5+ a galloon. But our gallons are slightly different. SO best way to explain with conversion is
$45 a tank full for the K1200LT!!!!

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post #8 of 81 Old May 7th, 2008, 11:18 am
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Re: $7.50 a gallon gas?

They drilled on known good sites in Louisiana.

They found what they were going for, but "failed" to complete properly (second attempt to hit same reserve)... so, they expect they will not get "a lot" of flow... that's about 15 MILLION they've poured down the hole...

Well, because there are so many restrictions, etc, it is "not economically feasible" to run the piping out to an existing line.

So.... If "I were king....." There would be a few changes..... and of course i'd be 99% wrong in the average person's eyes.

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post #9 of 81 Old May 7th, 2008, 11:29 am
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by nplenzick
It's unlikely gas will get that high in that short period of time as the economy just can't support it.
I wouldn't bet on that. Diesel is now $4.45 plus in this area. $7.50 isn't a stetch in the not so distant future.

I ride my LT almost every day. If it gets to 6-7 a gallon I'll probably buy a scooter

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post #10 of 81 Old May 7th, 2008, 11:31 am
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Re: $7.50 a gallon gas?

Norway\Sweden its 10,40$ gallon now. Diesel same price.
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post #11 of 81 Old May 7th, 2008, 12:03 pm
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Re: $7.50 a gallon gas?

All things being relative, we are are still well off

http://money.cnn.com/2008/05/01/news...ion=2008050109

It could be worst, we could be living in one of the semi-socialist european countries

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post #12 of 81 Old May 7th, 2008, 12:48 pm
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Re: $7.50 a gallon gas?

And it could even be worser.
A Sawbuck A Gallon?

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post #13 of 81 Old May 7th, 2008, 1:08 pm
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Re: $7.50 a gallon gas?

Quote:
... There was a pray-in at a Chevron station in San Francisco on Friday led by a minister asking God for cheaper gas, ...
ROTFLMAO. I wonder if ceiling cat cares.
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post #14 of 81 Old May 7th, 2008, 1:16 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by Ted Shred
I wouldn't bet on that. Diesel is now $4.45 plus in this area. $7.50 isn't a stetch in the not so distant future.

I ride my LT almost every day. If it gets to 6-7 a gallon I'll probably buy a scooter
Sorry Ted I disagree. I don't see the economy expanding that rapidly to support it. That would mean that the recession we are in will continue two more years. Recessions really don't last that long, so that would mean we would be in for something worse and if something worse happens there just won't be the $$$ to support it. When the largest oil user in the world cuts back it's usage the price will drop. The problem is when the the price goes down people forget and go back to their old habits.
I was one of those gloom and doom people too.......but there are changes in the wind my friend and it's happening over a relatively short period of time. Airlines are flying slower, it's been reported that mass transit is up in all major markets, I have noticed a decrease in traffic on the interstates and people especially truckers are driving slower. We are going down to a one car family as I'm going to sell my GTI and just use my LT (50 mpg) and my V Strom ( 62 mpg). It's all people are talking about, it was the main topic of conversation at the BMW GA MTN Rally this past weekend.
Now we just need the leadership in Washington to keep it going. I for one hope we get it!
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by Wolfgang
All things being relative, we are are still well off

http://money.cnn.com/2008/05/01/news...ion=2008050109

It could be worst, we could be living in one of the semi-socialist european countries
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Re: $7.50 a gallon gas?

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We now have a Norwegian with a sense of Humor!!! WELCOME!!!

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Re: $7.50 a gallon gas?

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We now have a Norwegian with a sense of Humor!!! WELCOME!!!

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post #18 of 81 Old May 7th, 2008, 3:48 pm
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Re: $7.50 a gallon gas?

Guys, guys, guys...

The price projections we're seeing right now have little to do with the supply or production side right now. It has nothing to do with instability in the Middle East. It's not about greedy oil companies. Right now, it's all about the weakness of the dollar. Every global commodity, including oil is way up with the dollar sucking wind. There's a joke going around our company (who's primary business is outsourcing) that goes, "If the dollar goes any lower, India will be offshoring back to the US".

I've even heard talk that the dollar is sucking wind so bad and is projected to for the foreseeable future, that BMW is considering motorcycle production in South Carolina. I've heard this from both my sources, as well as a the pretty reliable reports from BMWRA's OTL Intel editors.


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post #19 of 81 Old May 7th, 2008, 4:06 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by nplenzick
Right now the cost of diesel is killing me as I use a motorhome for my business as a vendor at various MC rallies and shows.
One of the things I'm doing along with the other vendors I've talked to is cutting out all the small shows that are more then 4 hrs from my homebase. This will kill many of the smaller rallies and MC shows but it's no longer cost effective to do them.
It's unlikely gas will get that high in that short period of time as the economy just can't support it. It's approaching it right now. People are cutting back. In fact I met a fellow who delivers gas to gas stations and he's only doing it four days instead of five because of lack of demand in this area.
Some people are looking at wood/pellet stoves and the such here in SE Pa. Some people aren't traveling far or are not taking a vacation this year.
My local MC dealers with the exception of Harley are doing a very good business, scooter sales are strong, and people are trading in their SUV's in droves.
My prediction is that this oil boom will be a somewhat of a bust by mid to late summer as supplies become more then demand. I just hope that the next president really becomes serious about becoming more independent and really cut back big time on our dependents of foreign oil suppliers, something that should have started 30 years ago. If it did we wouldn't be in the mess we're in right now!
As for selling your MH, if you can I'd hold on to it right now. People are only getting pennies on the dollars for them at the the moment.
The 2005 pain point where consumers started reducing their consumption of gasoline was $3.87 per gallon. We saw this right after Katrina. I can't see the pain point going much higher for 2008, but once the pain point is reached, it takes about 2 months for gas to drop more than a buck as inventories begin to stack up and demand drops off.

Barring a hurricane in the refining states like Texas and Louisiana, Iran's sudden declaration of a nuclear weapon, or a Fundamentalist Islamic coup in Saudi Arabia, prices should drop and stabilize just under $3 per gallon soon after demand starts to drop -- which I think will happen in August.

I know my behavior is changing. I can't justify trading the SUV just yet, since even if I got a car that gets 3x the mileage, the ROI takes too long. I was hoping that I'd get a shot for a part in a hydrogen car test, but that fell through.

BTW, start looking at grocery stores that have gas stations. Many of them offer as much as twenty cents per gallon off if you buy a couple hundred bucks of groceries. The Tom Thumb a mile from my house is 12 cents lower than any of the other local stations. My wife and I will buy groceries and fill up both cars with the discount. Sure it's only about $6 saving per fillup, but if we did it all year, it would be more than $300 per year (which is a set of tires, a pair of registrations for CCR, a couple nights at a nice hotel, 3 tanks of gas for my guzzling SUV, etc.)


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post #20 of 81 Old May 7th, 2008, 4:22 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by nplenzick
Now we just need the leadership in Washington to keep it going. I for one hope we get it!
You can "hope", but it ain't gonna happen this election.
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post #21 of 81 Old May 7th, 2008, 5:41 pm
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Re: $7.50 a gallon gas?

Quote:
... There was a pray-in at a Chevron station in San Francisco on Friday led by a minister asking God for cheaper gas, ...
"The 59-year-old Mr. Twyman says people praying for cheaper fuel should also walk more and use car pools."

He got a free vacation to San Francisco just to state the obvious?

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Some people see the gas tank as half empty. Some see it as half full. All I care is that I know where the next tankful is coming from...
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post #22 of 81 Old May 7th, 2008, 6:49 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by nplenzick
People are cutting back. In fact I met a fellow who delivers gas to gas stations and he's only doing it four days instead of five because of lack of demand in this area.
hmmm...demand down yet price rises - something doesn't smell right!

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post #23 of 81 Old May 7th, 2008, 7:07 pm
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Re: $7.50 a gallon gas?

Gas prices have to stay high to keep Ethanol plants a runin'

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post #24 of 81 Old May 7th, 2008, 7:07 pm
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Re: $7.50 a gallon gas?

Here's something to think about - at $4/gal, if your vehicle has an 18 gallon tank, and you get 18 mpg your range is 324 miles, which for most people should be enough to get to and from work each week plus run errands. If you drive in such a way like jackrabbit starts, not coasting when practical, etc, (like my wife drives) and reduce your mileage by just 1 mpg to 17, you'll be wasting 1 gal per tank per week, or $252 per year.

I'll pay anyone on this board $100 to call my wife and tell her that .

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post #25 of 81 Old May 7th, 2008, 7:22 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by eljeffe
I've even heard talk that the dollar is sucking wind so bad and is projected to for the foreseeable future, that BMW is considering motorcycle production in South Carolina. I've heard this from both my sources, as well as a the pretty reliable reports from BMWRA's OTL Intel editors.
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post #26 of 81 Old May 7th, 2008, 7:26 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by Ted
If you drive in such a way like jackrabbit starts, not coasting when practical, etc, (like my wife drives) and reduce your mileage by just 1 mpg to 17, you'll be wasting 1 gal per tank per week, or $252 per year.

I'll pay anyone on this board $100 to call my wife and tell her that .
What's her number?

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post #27 of 81 Old May 7th, 2008, 7:39 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by MOSLEYDS
Oil is at $120. a barrel now. Some in the know are saying it could reach $150 to $200 within 24 months. That would make gas at rhe pump average $7.50 a gallon. Hard to imagine, but apparently very possible. What would you do to adjust to gas that high? .
I guess I should keep my interest in the stripper wells I have owned for 30 some years.

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post #28 of 81 Old May 7th, 2008, 8:07 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by norriscooper
I guess I should keep my interest in the stripper wells I have owned for 30 some years.
Hmmmm. Nekid wimin who give you money. Nice gig.


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post #29 of 81 Old May 7th, 2008, 8:46 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by Morley
You can "hope", but it ain't gonna happen this election.
Couldn't disagree more. Obama and McCain are light years ahead what we have now.
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post #30 of 81 Old May 7th, 2008, 8:50 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by Ted
hmmm...demand down yet price rises - something doesn't smell right!
Give it a chance..it doesn't happen over night. It'll take a few more months for it to show up at the pump.
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post #31 of 81 Old May 7th, 2008, 9:26 pm
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Quote:
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Hmmmm. Nekid wimin who give you money. Nice gig.
I wish. She's nekid but fugly.

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post #32 of 81 Old May 7th, 2008, 10:15 pm
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Re: Here's a real stripper

Kewl pic, Norris!

No, don't "sell" out.... you can always let them pump used oil into it..

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post #33 of 81 Old May 8th, 2008, 11:44 am
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Quote:
Originally Posted by nplenzick
Couldn't disagree more. Obama and McCain are light years ahead what we have now.
Did you give up on Ms. Rodham, "the smartest woman in America"?
I ain't over till the thunder thighed lady sings.

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post #34 of 81 Old May 8th, 2008, 12:09 pm
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Re: $7.50 a gallon gas?

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Did you give up on Ms. Rodham, "the smartest woman in America"?
I ain't over till the thunder thighed lady sings.

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As Tim Russert ( host for Meet the Press) said Tuesday night " we now know who the democratic nominee will be". I agree. I think she now is fighting for the VP position.
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Re: $7.50 a gallon gas?

One thing that I did not see mentioned in this thread is the fact that China is presently increasing it oil imports as quickly as possible. Even if US consumption drops significantly any surplus will be quickly purchased by China. This will tend to keep the price per barrel up and means that even if you do reduce consumption fuel prices may very well not come down and may infact keep increasing. We all need to remember that this is now a global economy and that the US is no longer the major consumer. The US has a decreasing level of control on oil pricing, and this trend will continue for the foreseeable future.

Ken Riach

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post #36 of 81 Old May 8th, 2008, 2:39 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by kriach
One thing that I did not see mentioned in this thread is the fact that China is presently increasing it oil imports as quickly as possible.
Not to mention steel and a lot of other commodities. I know folks who recycle steel who are deliriously happy because the price has shot up. As opposed to contractors who are being killed.



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post #37 of 81 Old May 8th, 2008, 4:02 pm
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Re: $7.50 a gallon gas?

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Originally Posted by Morley
You can "hope", but it ain't gonna happen this election.
We might see some change if a second party were to run a candidate in the presidental race.
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post #38 of 81 Old May 8th, 2008, 4:49 pm
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Re: $7.50 a gallon gas?

I'm looking at the bright side. If gas goes to $7.50 per gallon then a Porsche 911 @25 mpg looks like a good financial decision compared to my Expedition @13 mpg.

Right now the price is at a point where it doesn't make sense to do anything other than to keep the Expedition. Right now I would have to GIVE it away to get rid of it!

I hear the politicians talking about a mortgage bailout bill, how about an SUV bailout bill? Think about how many votes that would buy the politicians, afterall there are more people with SUV's than with defaulting mortgages.

Kevin

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post #39 of 81 Old May 8th, 2008, 5:30 pm
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Re: $7.50 a gallon gas?

And then there are those of us who saw it all coming and used excellent credit to get great mortgages when the rates were way down, and who don't need huge, gas-guzzling behemoths to prove how we've "made it."

Don't bail out the mortgages, because the only winners will be the banks who made the bad investments in the first place and the consumers who signed those crappy loans will still lose. Might as well try to pass measures to reduce traffic by limiting growth or to vote down the price of fuel (both of which are being attempted near me). That makes as much sense as praying to reduce the price of fuel.

Yes, China and India are having an ever-increasing effect on the world economy. But the fact that the oil producers completely control the supply and can thus manipulate the supply/demand ratio at will is what's keeping the prices high.

Capitalism and a free-market society only work when consumers have multiple choices, and the information and intelligence to choose wisely. Kinda like voting, for that matter.

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post #40 of 81 Old May 8th, 2008, 6:01 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by Wolfgang
We now have a Norwegian with a sense of Humor!!! WELCOME!!!
Ok, we got lot of oil here, but its the taxes who killing us.
But i wonder, what is an average salery in your country, like an car mecanic or an welder? A welder in Norway has aprox converted to dollarvalue here today is 70000$ a year. (350000 nok)
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post #41 of 81 Old May 8th, 2008, 6:20 pm
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Re: $7.50 a gallon gas?

We are paying $6.80 per gallon Canadian for your U.S. size gallon, exchange in $ would make it about $7.14....very close to that $7.50 figure...wait until summer and I imagine it will pass that. I am glad the bike gets good mileage. I am not sure what it takes to fill mine, haven't had it empty yet. But I would imagine close to $50.00....scarey.


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post #42 of 81 Old May 8th, 2008, 7:14 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by skydiver
We are paying $6.80 per gallon Canadian for your U.S. size gallon, exchange in $ would make it about $7.14....very close to that $7.50 figure...wait until summer and I imagine it will pass that. I am glad the bike gets good mileage. I am not sure what it takes to fill mine, haven't had it empty yet. But I would imagine close to $50.00....scarey.
think you converted the wrong way - 1 Canadian Dollar = .983497 US, so $6.80 Canadian = $6.69 US

Ted

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post #43 of 81 Old May 8th, 2008, 9:20 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by bmwgubbe
Ok, we got lot of oil here, but its the taxes who killing us.
But i wonder, what is an average salery in your country, like an car mecanic or an welder? A welder in Norway has aprox converted to dollarvalue here today is 70000$ a year. (350000 nok)
Jon,
A welder here in the midwestern states can make $48,000 per year.
An oil field worker can make around $70,000 in some parts of the country.

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post #44 of 81 Old May 8th, 2008, 9:25 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by norriscooper
Jon,

An oil field worker can make around $70,000 in some parts of the country.

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Is that before beer and hookers??

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post #45 of 81 Old May 8th, 2008, 10:05 pm
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Cool Re: $7.50 a gallon gas?

Quote:
Originally Posted by nelson61
Is that before beer and hookers??
Yes and I don't know!

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post #46 of 81 Old May 9th, 2008, 9:39 am
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Re: $7.50 a gallon gas?

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ROTFLMAO. I wonder if ceiling cat cares.

LOL that is really funny Andreas, made my day...thanks!

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post #47 of 81 Old May 10th, 2008, 2:54 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by norriscooper
Jon,
A welder here in the midwestern states can make $48,000 per year.
An oil field worker can make around $70,000 in some parts of the country.

Norris Cooper Andover Kansas USA
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93 K1100RS
Thanc you for your replay norriscooper, oil worker here aprox 110000$
But ofcourse prices on food, taxes etc, is wery different between countryes.
Example, Bmw x5. 3.0D. 2007 used here, 217800$. Have a nice weekend
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post #48 of 81 Old May 10th, 2008, 5:19 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by Ted
think you converted the wrong way - 1 Canadian Dollar = .983497 US, so $6.80 Canadian = $6.69 US
In real value the Canadian dollars is of more value then the hyped US dollar which is still well over prized. ENRON kind of accounting system and what else is hiding in the closet + the UNFAIR trade imbalance where the US dollar is beeing main currency making those who trade from another currency having to exchange to US dollars for a fee etc.

If the Oil producers went for Euro I am sure the US dollar would drop 30% more.

And who know...maybe soon we will have a US dollar equal to Mexican Peso?

(hehe last one was me teasing you

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post #49 of 81 Old May 10th, 2008, 6:18 pm
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Question Re: $7.50 a gallon gas?

Quote:
Originally Posted by paalao
If the Oil producers went for Euro I am sure the US dollar would drop 30% more.
Doesn't the exchange rate favor you since you source your BMW's from the USA?

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post #50 of 81 Old May 10th, 2008, 6:34 pm
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Re: $7.50 a gallon gas?

Quote:
Originally Posted by norriscooper
Doesn't the exchange rate favor you since you source your BMW's from the USA?

Norris Cooper Andover Kansas USA
06 K1200GT
93 K1100RS
Yes the weak US dollar gave me the bike for almost half price
(Before Norwegian taxes which more the doubled the initial price, US price was $ 12.100.- with freight. After Norwegian taxes it was $ 30.000.-)
But the value of the dollar increased when I had to pay for it
just to go down even more when it arrived back home.
The dollar have since drooped the value of 10 % since I paid for the bike.

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1991 Kawazaki 1000 LTD US 1983 (sold)
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