Laughable to Some, Stocks Plunge as Gas Prices Jump Again: Up 17 Cents Overnight

[ricky023]

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i know this is different but I wonder when all this madness is going to stop. How can our country keep surviving on other countries problems. Eveything that happens in the Mideast always causes our prices to go up. Why don't we buy stuff made in America so our prices would not be effected by foreign countries. RTR!

[KoKoPuf]

Well, we can't drill in the Arctic cause it might scare a polar bear or caribou and we can't drill ion the GOM cause the shrimp get upset, can't drill off the East and West Coast because the liberals get mad, Texas & Oklahoma are about used up so I guess we are stuck.

[ricky023]

No not actually KoKoPuf. We have all kinds of veins in ND, SD, and Montana. They just for some reason haven't used them. RTR!

[Chechem]

We don't even get Libyan oil (I heard), but their problems pumped up the pumps.  I paid $3.38 today, and had to search for one that....low.

Reality?  The world population is approaching 7 billion.  The resources are running low.  This is a symptom.

[ricky023]

Hey Che you know this is because the big dog gas people are afraid we are going to take over the oil fields and then the prices will be forced to come down. RTR!

[Chechem]

Hey Che you know this is because the big dog gas people are afraid we are going to take over the oil fields and then the prices will be forced to come down. RTR!

I'm afraid the prices would go up even if we had those oil fields.  I listened to a story today about the oilfield workers in Libya.  Many are very poor, from Bangladesh, Somalia and Ethiopia, and get pennies per day.  But most haven't been paid for 2 months now,so they are fleeing the country.  Many were robbed in the desert while fleeing.

Think we'd pay these people pennies to work if we ran those oil fields?  Nope.

The price will go up.


Oilfield workers at the Libyan border: chaos.

[ricky023]

You have a good point. We would pay them a proper wage for their work. RTR!

[LegalAcidity]

I fear a major storm on the horizon, and you all probably should too.

It doesn't matter if we don't get oil from Libya, because they contribute to the world's oil supply (around 2% I believe).  As such, if they suffer disruptions, everyone suffers.

Another problem is that the United States has no way to provide the amount of oil that we use on a daily basis.  Even if the infrastructure was already in place, I don't know that we could produce the required barrels of oil per day to satisfy our current demand.

The next domino I'm afraid of is Saudi Arabia.  Small elite ruling class, large lower class, high unemployment, rising food costs....sound familiar?  If Saudi Arabia were to descend into what has befallen Egypt, Somalia, Yemen, Bahrain, Libya, etc., then forget about $3 or $4 or even $5 gas.  Those of you that were around in the '70s will remember what it could be like.  Only this go-round, expect to wait in a gas line for hours for the privilege of paying $8 for a gallon of gas.

If fuel prices continue to rise, then food prices will rise as well due to the increased transportation costs.  Fuel prices go up, food prices go up, and then we'll have government budgets that are dependent on sales taxes and property tax revenues face massive shortfalls.  Then the federal government is affected, and, say, they curb welfare benefits.  Once enough dominos fall, we could be facing our own riots in the very near future.

It may seem crazy, but the pieces are in place for a global meltdown of epic proportions.

[ricky023]

Nope doesn't seem crazy. I remember when gas went to $1 a gallon and everybody said if it gets any higher I won't drive. Shoot where are we now? RTR!

[ssmith general]

You're forgetting that oil is a publicly traded future, the prices may spike, but will level back out.  Now, that could be pretty high, but 8 bucks is pushing it.   History repeats itself, if there is an oil crisis, the prices jump, drop, then stabilize at a higher level.

[Chechem]

Legal has it.  Look at this graph.  If it were lemmings or any other species, we'd say "population crash".  Why?  The global resources can't sustain such population growth or such population levels.  GET REAL.  It's (unfortunately) that simple.  Help me out here, Ricky, what's coming?  Famine, disease...

Sorry to rain on Saturday morning.

[ssmith general]

Legal has it.  Look at this graph.  If it were lemmings or any other species, we'd say "population crash".  Why?  The global resources can't sustain such population growth or such population levels.  GET REAL.  It's (unfortunately) that simple.  Help me out here, Ricky, what's coming?  Famine, disease...

Sorry to rain on Saturday morning.

People in developing countries dont drive. 

[BAMAWV]

That's unfortunate about the price of gas and all. Guess I need to write myself another raise.

[ricky023]

It looks like the big users started in 1953 from what I can see. Does that mean supply or usage? RTR!

[Chechem]

It looks like the big users started in 1953 from what I can see. Does that mean supply or usage? RTR!

Look closer, Preacher.  Those are people (human population).  Whatever they did in 1953 resulted in many of these people on the planet today.

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