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Dallas Federal Reserve researchers have published a paper concluding that it will be difficult to sustain oil prices above $100 per barrel (in 2008 dollars) over the next ten years.
Link:
Crude Awakening: Behind the Surge in Oil Prices - Economic Letter, May 2008 - FRB Dallas
WooHOOOO!!!!! I am buying a Tahoe tomorrow!
Supply and demand at work once again. My un-expert gut feeling has thought this for awhile. These high prices will work their magic on increasing production.
These high prices ($4.00 gas) will put extreme pressure on the gubernment to open up ANWR and off-shore drilling, and also to relax regulations on refining expansions.
The very thing some of the environmental/global warming groups want (high oil prices) may be the very thing that is the movement's undoing. If oil/gas prices continues to rise, peoples focus will change from environmental concerns to financial concerns, ie. lowering energy costs.
Also, as that article mentions, the current price per barrel is plenty high to make tar sands and shale extractions profitable.
Also, if history shows anything, sooner or later a member of OPEC will get greedy and raise production.
Get a real vehicle that consumes gas....like a Hummer :skeptical:Quote:
Originally Posted by brianhos
Anyone know what vehicles have been dropped huge in price?
You can get a truck of pretty much any brand right now with big rebates.
Amateur: Try an M1A2 Abrams Main Battle Tank....Quote:
Originally Posted by IcSyU
Or an F-15
Ocean going Yacht will out-do both. A good fast off-shore boat will best either as well. All four score high in the fun factor!Quote:
Originally Posted by Phaedrus
Interesting. I know some pickups were greatly reduced.Quote:
Originally Posted by cytech
So that '09 Nissan Maxima is no longer in the cards? Too bad...Quote:
Originally Posted by brianhos
You know, it would have been really nice to invest the trillions of dollars spent in Iraq on alternative energy sources. I have to believe that a trillion dollars of government backing could produce an affordable, dependable car that runs on electricity, natural gas, hydrogen, etc. and allow us to give a big f-you to the Middle East.
IRS trudges on with aging computers - CNET News.comQuote:
Originally Posted by DJK15
They do so well with technology and large amounts of money :skeptical:
I can start flying my helicopter to work again soon.
Quote:
Originally Posted by IcSyU
I remember when I was in college and getting a Hummer meant something else entirely....
Quote:
Originally Posted by DJK15
Even without drain of Iraq, it looks like the money for alternative energy would be a pittance. The horspeower to divert funding to energy is just not there. The oil companies are doing okay under the current scenario.
Really, how hard is it to give big tax breaks to windmills in every windy state such as K-Y and others?
Let's drill offshore Florida now and try to beat the Chinese to the Cuban oil at the dividing line. Makes too much sense. The offsahore oil will be drillerd sooner or later anyway. Same for Alaska. When do you want me to start drilling? Today, twenty years or forty years from now?