It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Concerns about gasoline supplies in the U.S. ahead of the summer driving season also kept a high floor under prices. U.S. gasoline stocks are expected to show another big decline - of 2.4 million barrels - for the eighth consecutive week in government data due Wednesday, according to a Dow Jones Newswires survey of energy analysts.
Gasoline stocks tend to build this time of year, but because of relatively low refinery utilization and an ongoing effort by refiners to dump gasoline stocks blended with the additive MTBE, they have posted big declines in recent weeks.
For starters, there is little the White House or Congress can do to reign in the price of crude. At recent highs of $75 a barrel, the cost of crude oil has jumped by a third since November as demand for oil continues to grow faster than global production capacity. Nervous oil buyers are paying these high prices because they're worried about possible supply bottlenecks from multiple hot spots like Iraq, Nigeria and Iran.
WASHINGTON The U.S. government is on the verge of one of the biggest giveaways of oil and gas in American history, an estimated $7 billion over five years.
Under projections buried in the Interior Department's budget plan, the government would let companies pump about $65 billion of oil and natural gas from federal territory over the next five years without paying any royalties to the government.
Originally posted by El Tiante
Car makers aren’t the problem, car buyers are.
Companies exist to return maximum profit to shareholders. Automakers accomplish this goal by building cars that car buyers want. While fuel prices were low, people wisely chose safety over MPG and transported themselves and their loved ones in vehicles that offered the greatest safety (even though that safety margin is largely one of perception.)
Increase fuel cost has raised the price of this (again largely perceived) safety margin, so consumers will buy less of it. That is, they will buy more fuel efficient cars and as a result automakers will increase their offerings of fuel efficient models.
Unfortunately, the lead time for new models is measured in years.
As a point of pride, the great and powerful El Tiante had seen this situation coming for some time and wisely chose fuel efficient vehicles for his fleet (Honda Civic Si, Honda S2000, Honda CBR 600)
Originally posted by Savonarola
Let's see... China and India, with populations in excess of 3 billion people, are becoming economic powerhouses. The Indians and the Chinese want the same standard of living we Yanks and Canucks have (cars, telecommunications, cell phones) and are eating up vast amounts of resources (commodities like oil, copper, silver). Oil hasn't even begun to spike yet. So if you don't have a car, don't buy one - stupidist investment you could ever make. Get a horse.
David Icke says, "It's the reptilians, stupid!"
In 1980, economist |Julian Simon| and biologist Paul Ehrlich decided to put their money where their predictions were. Ehrlich had been predicting massive shortages in various natural resources for decades, while Simon claimed natural resources were infinite.
Simon offered Ehrlich a bet centered on the market price of metals. Ehrlich would pick a quantity of any five metals he liked worth $1,000 in 1980. If the 1990 price of the metals, after adjusting for inflation, was more than $1,000 (i.e. the metals became more scarce), Ehrlich would win. If, however, the value of the metals after inflation was less than $1,000 (i.e. the metals became less scare), Simon would win. The loser would mail the winner a check for the change in price.
Ehrlich agreed to the bet, and chose copper, chrome, nickel, tin and tungsten.
By 1990, all five metal were below their inflation-adjusted price level in 1980. Ehrlich lost the bet and sent Simon a check for $576.07. Prices of the metals chosen by Ehrlich fell so much that Simon would have won the bet even if the prices hadn't been adjusted for inflation. (1) Here's how each of the metals performed from 1980-1990.
Originally posted by El Tiante
The market will reach an equilibrium once the mess with Iran sorts out.
Originally posted by stumason
Converting US Gallons to litres, it would seem we here in the UK are already paying £3.63 a gallon, which is $6.48/gallon!!
Count yourselves lucky, my Yankee friends, for we are being fleeced over here
EDIT: Just to add, the price per litre here is around 96 pence.
[edit on 23/4/06 by stumason]