Is it different this time?
Post Fiend
Joined: Jan 1997
Posts: 23,165
Likes: 18
From: Enjoying the real world.
My question is... how many of people complaining about continuously rising oil prices take advantage of the situaion and invest in oil stocks and/or oil futures? A wise investor can make money in any economy.
Post Fiend
Joined: Apr 2004
Posts: 19,098
Likes: 8
From: Great State of Texas
That's interesting. Inflation must be a real concern then. 2 years ago we were told that when compared to the 70s... inflation adjustment was around the $ 91 - $ 92 / BBL. IMO: Oil can hit $ 125.00 pretty quick once the $ 100.00 barrier is breeched.
This "use'ta cost the same 'cause of inflation" doesn't matter much to the average Joe, though. The fact of the matter is, the impact is in today's dollar .....spendable income....today. There will be less to go around. Especially for the fixed income folks. $ 3.50 - $ 4.00 / gal is gonna hurt and impact many things.
But, the GOOD NEWS is...if one borrows money (via credit cards or adjustable rate loans) to maintain their current level of spending / living.....the rates are lower and will likely be lowered again. So for awhile....we can keep on living large.
This "use'ta cost the same 'cause of inflation" doesn't matter much to the average Joe, though. The fact of the matter is, the impact is in today's dollar .....spendable income....today. There will be less to go around. Especially for the fixed income folks. $ 3.50 - $ 4.00 / gal is gonna hurt and impact many things.
But, the GOOD NEWS is...if one borrows money (via credit cards or adjustable rate loans) to maintain their current level of spending / living.....the rates are lower and will likely be lowered again. So for awhile....we can keep on living large.
Post Fiend
Joined: Apr 2004
Posts: 19,098
Likes: 8
From: Great State of Texas
Originally Posted by FTE Ken
My question is... how many of people complaining about continuously rising oil prices take advantage of the situaion and invest in oil stocks and/or oil futures? A wise investor can make money in any economy.
Post Fiend
Joined: Jan 1997
Posts: 23,165
Likes: 18
From: Enjoying the real world.
Originally Posted by freirefishing
listen man point is, inflation or no inflation, from basically yesterday on out, demand is exceeding supply. and its not going to change.
in 1980 india china and other countries werent using it up like they are today. along with the US. you think that will change anytime soon?? i hope you dont think that, because those countries arnt going to stop building,expanding, and consuming until theres no room left to do that.
reasonable gas price days are all gone.
in 1980 india china and other countries werent using it up like they are today. along with the US. you think that will change anytime soon?? i hope you dont think that, because those countries arnt going to stop building,expanding, and consuming until theres no room left to do that.
reasonable gas price days are all gone.
No matter what the supply source and ultimate end user destination both then and now, it boils down to the same basic economic principle of supply and demand. Basic human nature hasn't changed since 1980.
The best course of action is to take advantage of it instead of complaining about it.
Post Fiend
Joined: Jan 1997
Posts: 23,165
Likes: 18
From: Enjoying the real world.
Originally Posted by kw5413
A catch 22. Especially for the blue collar folks or fixed income. The higher things cost due to Oil / gas...the less there is to invest.
As to blue collar... I suggest if oil really is a burden why are people still buying big screen tvs, have cell phones, satellite TV, drinking beer, smoking cigarettes and buying other technology non-neccessities in record numbers?
Post Fiend
Joined: Sep 2005
Posts: 9,653
Likes: 3
From: in the adirondack mts
oil is a traded commodity like corn, wheat, pork bellies...
OPEC depends on the US NOT drilling, building refineries, allowing congress to set limitations on "looking" etc.
if the US announced tomorrow we were drilling in ANWAR, the Gulf, the E. Coast, and building refineries, OPEC would pump oil like bunnies breading. they'd rather sell oil at $30/bbl than lose market share to internal(US) production at $60/bbl. Congress allows it. it's a yearly election issue.
Hell if the govt..both Federal and States would suspend the taxes on gas during these aberrations, gas would be at least 65 cents less/gal in NY.
we have the oil, we lack refining capacity. and we are fuel pigs.
OPEC loves this combination and uses it against us.
and i'm sick of hearing we need to end middle east dependency. we could do that tomorrow if the tree huggers allowed progress.. if not.....we get what we allow.
OPEC depends on the US NOT drilling, building refineries, allowing congress to set limitations on "looking" etc.
if the US announced tomorrow we were drilling in ANWAR, the Gulf, the E. Coast, and building refineries, OPEC would pump oil like bunnies breading. they'd rather sell oil at $30/bbl than lose market share to internal(US) production at $60/bbl. Congress allows it. it's a yearly election issue.
Hell if the govt..both Federal and States would suspend the taxes on gas during these aberrations, gas would be at least 65 cents less/gal in NY.
we have the oil, we lack refining capacity. and we are fuel pigs.
OPEC loves this combination and uses it against us.
and i'm sick of hearing we need to end middle east dependency. we could do that tomorrow if the tree huggers allowed progress.. if not.....we get what we allow.
Last edited by lenny1carl; Nov 7, 2007 at 05:30 PM.
Postmaster
Joined: Aug 2004
Posts: 4,004
Likes: 1
From: North of Boston MA
Originally Posted by lenny1carl
Hell if the govt..both Federal and States would suspend the taxes on gas during these aberrations, gas would be at least 65 cents less/gal in NY.
we have the oil, we lack refining capacity. and we are fuel pigs.
OPEC loves this cobination and uses it against us.
we have the oil, we lack refining capacity. and we are fuel pigs.
OPEC loves this cobination and uses it against us.
Same goes for a pack of smokes - the states would go belly-up without the revenue generated from smoking....and gambing.....and drinking....etc.
Post Fiend
Joined: Sep 2005
Posts: 9,653
Likes: 3
From: in the adirondack mts
your not telling me anything i don't know Nit. it's like the s-chips deal...paid for by a $.61 tax on cigs. well when they lose half the smokers..where does the funding come from??? does the program go away??? Not... it becomes a reason to tax something else. maybe gas!!!!
i begged and pleaded....don't allow the libs to re-take the congress.
many got what they asked for. no gas tax reduction as the price nears $3.50/ gal. more taxes on everything else. Oh and did they end the war???? they knew they had no chance to do that.
crap happens. i see it switching in '08. jmho
i begged and pleaded....don't allow the libs to re-take the congress.
many got what they asked for. no gas tax reduction as the price nears $3.50/ gal. more taxes on everything else. Oh and did they end the war???? they knew they had no chance to do that.
crap happens. i see it switching in '08. jmho
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Post Fiend
Joined: Apr 2004
Posts: 19,098
Likes: 8
From: Great State of Texas
Originally Posted by FTE Ken
"Fixed income" is con-term coined by AARP type lobbyists. I don't remember getting different paycheck amounts each week in the corporate world. I was just as much on a "fixed" income as my retired grand-parents were.
As to blue collar... I suggest if oil really is a burden why are people still buying big screen tvs, have cell phones, satellite TV, drinking beer, smoking cigarettes and buying other technology non-neccessities in record numbers?
As to blue collar... I suggest if oil really is a burden why are people still buying big screen tvs, have cell phones, satellite TV, drinking beer, smoking cigarettes and buying other technology non-neccessities in record numbers?
"Fixed income" is con-term coined by AARP type lobbyists
Whatsa matter...you got something against AARP?
Post Fiend
Joined: Sep 2005
Posts: 9,653
Likes: 3
From: in the adirondack mts
Originally Posted by kw5413
.....Whatsa matter...you got something against AARP?
besides being a Very Liberal scare tactic organization to scare seniors, they misrepresent facts. they misrepresent insurance issues to members. they misrepresent the voting records of elected officials they disagree with.
Post Fiend
Joined: Jan 1997
Posts: 23,165
Likes: 18
From: Enjoying the real world.
Originally Posted by kw5413
Is that to mean that the condition does not exist? Or it should not be recognized? "Fixed income" is what it is no matter what one calls it. Whether you refuse to recognize it or not. It exists. The impact is real.
Whatsa matter...you got something against AARP?
Whatsa matter...you got something against AARP?
Last edited by FTE Ken; Nov 7, 2007 at 06:11 PM.
Postmaster
Joined: Aug 2004
Posts: 4,004
Likes: 1
From: North of Boston MA
Originally Posted by kw5413
Especially for the ...fixed income.
"Fixed" income is a meaningless term in my opinion.
Thread Starter
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Lead Driver
Joined: Jul 2004
Posts: 5,947
Likes: 62
From: in the woods of MA
Originally Posted by Nitramjr
"Fixed" income is a meaningless term in my opinion.
They may depend heavily or even entirely on SS, or maybe pensions, i.e. payments where they have little control over the amounts. You and I, while we're part of the work force, can changes jobs, get more education, work more hours, etc. - options few retirees have. So while we're all on finite incomes, theirs are much more "fixed" than ours.
