Oil price jump wreak havoc?

[CigaR007]

Quite honestly, I am trying to curb my oil dependence; even if the rising prices don't pose a serious financial burden, yet. We all know it will get worse and the sooner we act on it, the better off we'll be.

[redyaris]

My spread sheet Plan is to be below 1000L/year of fuel for driving by the end of 2012 and below 700L/year by the end of 2013, and still drive 30000km/year. I doubt I'll make it that soon but I'm sure I'll make it to that level within the next 5 years. The end game is an ecomodded recumbent trike with a 50cc motor that gets better than 200mpg! which will get me to under 400L/year.

[tim3058]

Originally Posted by CigaR007

The North American market cannot bear a price of 1.50$/L (5.7$/gallon) for fuel. Look no further than 2008 to see what happened.

Yeah I think you'd really start seeing some modified behaviors at that cost (if not total market collapse again). It also means payback on new mods would be shorter!

[j12piprius]

Originally Posted by CigaR007

The North American market cannot bear a price of 1.50$/L (5.7$/gallon) for fuel. Look no further than 2008 to see what happened.

What happened?

Seriously, what happened?

And why would that prevent prices from increasing?

[endurance]

There's so many factors in play right now it's difficult to predict just how high prices will go at the moment. The fear and uncertainty has a lot more impact than the actual disruption in production and delivery at this point. MarketWatch had a piece yesterday on one problem I hadn't considered; while the Saudi's have promised to make up for production shortfalls because of the Libyan oil production, Saudi oil is sour (high sulfur) and the European refineries are set up to handle sweet crude (low sulfur). Since Libya was a supplier of 1.9mbpd of sweet crude, the Saudi's contribution of up to 1.9mbpd of sour crude doesn't really solve anything. In fact, the European refineries are looking across the Atlantic to Texas light sweet crude rather than using the Saudi oil.

It's disconnects like that which will control and dominate this market for the foreseeable future... unless/until we get a black swan, like a revolution in Iran, Saudi Arabia, Bahrain, etc.... which seems more likely than ever.

My hypermiling evolved out of a concern for times like these and the increasing pressures of peak oil. I just try to keep it in perspective. If I can keep my round trip commute to under one gallon and keep the number of days I need to commute to three most weeks, I'm on target to weather $10/gallon. Anything beyond this is just icing on the cake.

[Arragonis]

Originally Posted by Schelter

$3.49 today, up $.35 since this morning...

Local price for a litre of Diesel in Edinburgh this morning was £1.31.

Which is the same as $2.11 at today's conversion rate.

Which makes a US gallon (3.79 litres) equivalent price of $7.99.

The UK gallon (4.54 litres) price is £5.94 ($9.57).

We have been warned of a 3p (at least) a litre rise before the end of the coming week.

In rural areas some people are paying nearer £1.43 a litre.

[euromodder]

Over here's we're about to beat the highest price I've ever paid for diesel in Belgium (1.299 euro/L - official price is already @ 1,3860 though).
I'll be filling up before the price hike on 1st March.

[redyaris]

Kind'a makes you look for ways to use less does'nt it. I wonder what Adam Smith would have us do? See chapters 4 through 10... W of N

[Sularus]

Originally Posted by redyaris

Kind'a makes you look for ways to use less does'nt it. I wonder what Adam Smith would have us do? See chapters 4 through 10... W of N

who is Adam Smith and what is W of N? Sorry, I feel a little lost at the moment.

[Sularus]

nevermind, I feel like an idiot now. looking to download it now.