We couldn't handle $60, we couldn't handle $90 we sure as hell can't handle $120 and we will all goto hell at $150. The sky is falling.
the Oil guys and speculators are actively seeking that pain point. Every time oil goes above where the world is supposed to end and nothing happens, they push it higher.... I honestly thought $100 oil would be a major problem, i was wrong.... maybe the pain level is much higher, maybe its $200 a barrel? or $250? there has to be a level somewhere, where we get massive demand destruction. Anyone else have any thoughts on where that is? you would think $250 a barrel would cause some real pain
Well I have noticed some people at work who don`t ride the bus, started this week, so it`s coming. They can save 2,200 per year taking the bus, and they are starting to fill up=demand destruction!!!
Riding the bus and then even walking half a mile each way will not only save bucks but also do wonders for health i.e. more savings down the road. Not to mention further cut down of the CO2 emmission from each individual NOT driving his/her car or SUV daily. Someone told me that it was the oil shock of the 70s that modified an average American family into a two earner household by requiring women to work also. Wonder what has the oil shock in store for this time around. Wind energery does not sound to be a too bad resource and replacement given it is resuseable and does not hurt the environment.
The problem is that the high price of oil transfers more wealth from the free West to hostile Islamist and Neo-communist countries. OPEC is made up of essentially Islamist and Communist countries. The Saudis snubbed Bush, and Bush accepted it. This is a sign that America has lost control over its most essential energy resource, and its government has become impotent in protecting its national interests. We even have Iraq but pollitically unwilling to challenge OPEC by breaking Iraq from this cartel and threaten to produce more oil in spite of OPEC. It makes sense to do this because since we control Iraq, we can sell oil at market, saving America's wealth from getting lost to the Islamists, while the Chinese pay up instead. We would also have the power to control the price of oil, lower it and sqealch the wealth transfer to the Islamists. By the way, you people out there who think "Big Oil" aka Exxon somehow controls the price of oil need to stop smoking those doobies.
'The problem is that the high price of oil transfers more wealth from the free West to hostile Islamist and Neo-communist countries. OPEC is made up of essentially Islamist and Communist countries.' Hostile Islamist argument can be accepted for some countries but Neo-communist is a non existent DNA.
Let me be a prophet for a moment and say this; this oil shock will; 1) make more public transportation projects viable and doable in the USA 2) create alternate fuel projects (and funding) more vibrant after the current assholes leave office. 3) bankrupt (or stall) many idiots still driving pickups and SUV's (not a bad deal)