$70bbl oil is now being talked about as the "reasonable price" for the future...
This is too high. Pulitzer prize winner of the Prize, Daniel Yergin mentions in a piece he wrote lately that "peak oil" theory is probably flawed. New discoveries in non-conventional oil, the new code for oil we thought we would never recover, are changing the equation. We have plenty of oil.
Technology has always overcome the scarcity concern over time...
I reiterate that the trend towards $1.00 gallon gas is in place and you can and will benefit from it...
The golden age of "streamin" has begun...
Get out there and have some fun,
Now I am done....
Bizcamp
__________________ He didn't expect; he was not disappointed!
Here is the full piece about Oil lately and into the future...
Yergin is a very balanced view....
He is considered "the experts, expert."
Notice, even he agrees that non-conventional oil and technological advances will be enough to keep oil prices down long term...
By the way, notice he refers to the combustion engine getting more efficient by 2-3x.
More like 5x, wonder who he's been listening to?
Only bet and predict when you know the outcome, eh?
O, Bother,
Bizcamp
__________________ He didn't expect; he was not disappointed!
Gasoline prices have been pretty stable over the years, but inflation makes it seem like we are paying more and more. There's a ton of info about historic gas prices (some contradictory), and using an inflation calculator, I came up with this: gas was 17¢/gallon in the 1930's so using 1935 as an average, that's $2.64 in 2009 prices. I remember it being around 30¢ in 1962, so that's $2.11 today. Another chart showed gas about the same from 1949 to today with spikes in 1981 and last year. Gas is now cleaner, better formulated and vehicle mileage is better over the past generation. While I complain about gas mileage while towing, my '72 Chevy pickup got about the same mpg towing nothing.
Gene
Gasoline prices have been pretty stable over the years, but inflation makes it seem like we are paying more and more. There's a ton of info about historic gas prices (some contradictory), and using an inflation calculator, I came up with this: gas was 17¢/gallon in the 1930's so using 1935 as an average, that's $2.64 in 2009 prices. I remember it being around 30¢ in 1962, so that's $2.11 today. Another chart showed gas about the same from 1949 to today with spikes in 1981 and last year. Gas is now cleaner, better formulated and vehicle mileage is better over the past generation. While I complain about gas mileage while towing, my '72 Chevy pickup got about the same mpg towing nothing.
Gene
Yep, I have always felt that except for a couple odd spikes, gas prices were real steady, when adjusted for inflation. and vehicle technology has improved so much it's scary, and many think it will get even better. My first new car was a '79 V8 mustang GT, it got a smokin' 16 mpg avg from the factory, while weezing out 140hp at the crank. A new GT does 3 mpg better and puts 3 times the power to the pavement.
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Here's the problem. People don't value gas mileage (or not enough people value gas mileage). So all these technological advances are geared towards increasing power, without reducing gas mileage. So you get more power and the gas mileage stays roughly the same.
Does a 420 HP Mustang go any faster than a 140 HP Mustang? Maybe on a racetrack. Maybe in stoplight dragracing. I'd be happier with a 140 HP Mustang that got 35 MPG. But I'm not the Mustang customer. How about a minivan that gets 40 MPG? Or a Suburban that gets 30 MPG? A 7 passenger vehicle that tows something and gets decent mileage. Is that too much to ask?
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Kevin and Leah
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"I nostri cuori e le menti appartengono al flusso d'aria"
Here's the problem. People don't value gas mileage (or not enough people value gas mileage). So all these technological advances are geared towards increasing power, without reducing gas mileage. So you get more power and the gas mileage stays roughly the same. ...
It's not that I don't value gas mileage it's just that I value the things that are robbed in an attempt to increase mileage. We both might like the mileage of a 140 HP Mustang, but you still couldn't tow an Airstream with one. At least the lack of torque that it would have for merging with interstate traffic or on up hill climbs.
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I guess this will fire up the torch bearers, but no matter how much petroleum is found, burning it causes pollution, warms the planet, and much of it comes from places where we by buying it are supporting cruel dictatorships.
I guess this will fire up the torch bearers, but no matter how much petroleum is found, burning it causes pollution, warms the planet, and much of it comes from places where we by buying it are supporting cruel dictatorships.
Gene
What do they use in those torches?
Virtually no emissions, 5 to one gas mileage means using only 20% of the gas used today. If the majority of oil goes to gas for mobility and the new power plant is a commercial success, the world will be using 80% less oil/gas. What is the price for a gallon of gas when you have 80% too much? 1$/gal? Cleaner burn, better mileage, we have enough oil domestically and more from Brazil, we don't have to buy a drop from the bad guys...
Plus, replace all cars with the new tech...which will eventually happen and you have the answer to the slow economy, eh?
All problems solved...
Bizcamp
__________________ He didn't expect; he was not disappointed!
it is that oil is priced in dollars$$$$$$ and like they say it works until it doesn't........most of the oil producers are fed up with our dollar shennigans and as the dollar becomes (thanks to our government/FED) more than worthless oil will become more scarce in dollar terms...there may indeed be no "peak oil"....but there is a peak dollar..... and it will buy less and less oil in the future
it is that oil is priced in dollars$$$$$$ and like they say it works until it doesn't........most of the oil producers are fed up with our dollar shennigans and as the dollar becomes (thanks to our government/FED) more than worthless oil will become more scarce in dollar terms...there may indeed be no "peak oil"....but there is a peak dollar..... and it will buy less and less oil in the future
Yes, oil is priced in dollars, but if you don't have to buy foreign oil, who cares? Dollars are dollars!
We have enough oil in US to power all our needs when we get 100MPG. We are the producer! If usage of gas/oil is 80% less than now, you have massive overcapacity, those foreign producers will be giving it away.
We are their biggest market and that won't change for a long time. The oil producers won't have enough cash flow at the lower prices to pay for toilet paper! They will have to sell more oil at lower prices to make up the drop in revenue from the efficiency pop and oil will go lower in price because they will flood the market!
Bizcamp
__________________ He didn't expect; he was not disappointed!
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