[AMG]

The inflation here during the last century was 4% per year on average, fluctuating between 0 and 12 %. Our government is trying to keep the pace by adding taxes on fuel, now also the CO2 tax (thanks to Mr Gore), but the price compared to our buying power is lower than before. Not much, but no reason to complain as most cars and boats also has a better mileage today..

[brian eiland]

I don't know about all of these 'adjusted figures'...sounds like a lot of 'spin' to me...like we get from our politicians nowadays.
...more Bush economics

I know crude was $22.50-23.00 in 2002, 2003. Now its $90-100 in 2008. Four to five fold increase in 5-6 years....sounds like a lot more than just inflation to me.

Huge transfer of wealth to a few countries that don't really contribute to the quality of life nor the technologies of this modern world...they just happen to possess lots of this black stuff under their soil.

[brian eiland]

....from Wikipedia


The price of standard crude oil on NYMEX was under $25/barrel in September 2003, and with inflation adjustments had remained below this mark since the mid 1980s. A series of events led the price to reach over $60 by August 11, 2005, surpass $75 in the summer of 2006, fall to between $50 and $60/barrel in the early part of 2007, then rise steeply, reaching $92/barrel by October 2007 and $99.29/barrel for December futures in New York on November 21, 2007[1]. On January 3, 2008, oil prices had an all-time peak at $100.05 per barrel. [2]

It remains to be seen if the rising trend will become a long plateau or continue to rise steadily. Prices of $100 2007 dollars are equal to the inflation adjusted maximum of 1980, which was $95-100/ barrel in mid 2007 dollars[3]. This has contributed to fears of an economic recession similar to that of the early 1980s.

.....more graphs, etc: http://en.wikipedia.org/wiki/Oil_pri..._2004_and_2005

[hat4349]

This should generate a few comments, in 1965 I got my first car and with what I was making it cost me about 2 hours’ wages to fill the car. At today's prices and with what I make today I can fill the car for less than an hour's wages. So based on the current average salary of a boater compared to the average salary back then are we really worse off today than we were than?

[brian eiland]

Originally Posted by hat4349

...., in 1965 I got my first car and with what I was making it cost me about 2 hours’ wages to fill the car. At today's prices and with what I make today I can fill the car for less than an hour's wages.

Yes, but you were a teenager then, and just starting up on the salary scale. What about the teenager today (those that aren't spoided by their parents), and/or the minimum wage earner raising a child or two??

[Loren Schweizer]

There is a tiny possibility that the U.S. will experience a nasty little 2008 recession, early '70s vintage.
Europe feels it, too.
China's Shanghai Index, recently on a real tear, takes a deep dive.
Same for India's over-bought Sensex.

Result: sub-$75 USD oil.

Remember the Asian monetary crisis less than ten years ago?

Fearless prediction: gas in the two-buck range in the U.S. as a Christmas present this year, with folks laughing at all the Prius drivers.

Put this in your time capsule. Whoever gets closest (I bet $2.09) wins a prize.

[Codger]

Originally Posted by Loren Schweizer

Fearless prediction: gas in the two-buck range in the U.S. as a Christmas present this year, with folks laughing at all the Prius drivers.

Put this in your time capsule. Whoever gets closest (I bet $2.09) wins a prize.

Price at the pump specifically where in the US? There's quite a range across your country. Hmmm Thursday Dec 25 2008...

[hat4349]

The station I used a lot here was at $3.09 two weeks ago but today is at $2.80 for a gallon. I still say they will regress for awhile and then no matter the price per barrel go back up by saying there is a shortage of production capacity in the refineries or something else not related to the price of crude. They have a history of going up, people complain, they drop back and people accept the higher prices as they slowy creep back up. Then when people, Congress, or the press complain they fall back a little and then do the creep again. They have been playing this game of raising prices this way since the so called shortages of the 70s. I don't think you will see $2.09 a US gallon ever again

[brian eiland]

Originally Posted by Loren Schweizer

There is a tiny possibility that the U.S. will experience a nasty little 2008 recession, early '70s vintage.
Fearless prediction: gas in the two-buck range in the U.S. as a Christmas present this year, with folks laughing at all the Prius drivers.

Put this in your time capsule. Whoever gets closest (I bet $2.09) wins a prize.

"Nasty little recession", I would only hope so, but as I wrote back in posting #75, we have the gathering of the 'perfect storm' with big energy price increases, housing market failure, lost of manufacturing, and the coming lost of a great portion of creative IT. We need to get some different kool-aid to drink.

Today I wrote some friends and disbelievers
Recession or Depression

Opps, I just remembered this other thread so I posted the discussion there
http://www.yachtforums.com/forums/56290-post82.html

[YachtForums]

Today, I filled 2 six gallon tanks for the Whaler. It cost me $42.00. When this thread started 4 years ago, it cost a little over $20.00 to fill up. There's not too many of us powerful enough to stop this rising tide, but collectively, maybe we can make a difference with our purchases. In the meantime, here's some fuel funnies...

[foundrycourt]

That would be approx £21 (UK) . Fill those 2 six gallons over here and it would set you back about £68 or $136 . You've got it cheap

[NYCAP123]

As the pundants were discussing the $4.00 a gallon gas due by Memorial day the other day I finally heard an honest reason from the oil industry rep. The guys on wall street who were losing money dumped their stocks and switched to oil commodities which they can manipulate. They are now getting richer by the minute pushing up prices for no other reason than their personal greed and the knowledge that they'll get away with it. Maybe any commodity trader friends should be invited fishing. Leave the bait at home. I'm sure something can be found to use. Who knows, those that can swim might actually get the message.

[Codger]

Just finished reviewing the costing on a project for end Q2/middle Q3 this year.
Offsite gasoline costed at 1.45/litre. (5.48/gallon). Of course there's a bit of a fudge factor in that forecast but that cost isn't unrealistic.
Last summer the highest offsite paid for a litre was 1.31.

Note: The ball buster in doing the forecasts is trying to nail down which reserve currency to convert from, Euro or US$. Doing a weighted mix for now.

[ekiqa]

Well, the oil industry companies are making huge profits:

Exxon had revenue of $404 billion with $40.6 billion in profits.
Chevron revenue of $204 billion with $17.1 billion in profits.
ConocoPhilips revenue of $188 billion with $15.5 billion in profits.
Shell revenue of $355 billion with $27.3 billion in profits.
BP revenue of $291 billion with $20.8 billion in profits.

Does that justify increasing the cost of gas at the pump?

Does that also justify tax credits from the governments?

[NYCAP123]

Yes those profits and subsidies are justified. What justifies them is that they can get away with it. What are you going to do to stop them? What can you do? Are you going to vote out your legislators? Are you going to clog their phone lines with complaints? Are you going to form picket lines in front of oil exec's homes and offices? Are you going to push gas stations out of business by forming picket lines in front of them? No? Then the oil companies are entitled to take every cent they can pry from your wallet.
You aren't waiting for their love of mankind or concience to kick in are you?