Record High Gas Prices?

[Arragonis]

Oil price has dipped < $100 barrell. The average may be $110 instead of the $120 predicted for the year, so prices may start to ease.

[cleanspeed1]

Originally Posted by Arragonis

Oil price has dipped < $100 barrell. The average may be $110 instead of the $120 predicted for the year, so prices may start to ease.

If demand keeps dropping, it might go much further. Citizens are not going to spend money on other things if the powers that be keep inducing volatility into the market, and personally, I think they overplayed their hand.

Now folks are going to be very cautious about spending, looking for the best deals possible, conserving capital and energy. Even when things improve, it won't automatically translate to higher spending. It'll be good for personal saving rates but bad for consumerism.

Wouldn't be too surprised if ecomodder.com and other sites like it start having higher traffic and member rates.

[MetroMPG]

Originally Posted by jamesqf

That seems pretty outrageous.

Agreed!

Are Ontarians really such bad drivers as that?

I really don't know why, to tell you the truth. It's not my fault - no collision claims, ever. Last windshield claim was about 10 years ago. 1 speeding ticket when I was 16. But I envy you being able to add another vehicle for 150.

A lower insurance barrier would result in less fuel used here. I know of 2 people who ran the numbers on getting a subcompact beater/commuter in addition to their pickup trucks, but ruled it out because insurance costs were greater than fuel savings.

[Frank Lee]

I added two more vehicles to my insurance policy for $216/year.

Guess my getta beater speech doesn't work up there. You guys are really getting hosed.

[nemo]

Originally Posted by Frank Lee

Guess my getta beater speech doesn't work up there. You guys are really getting hosed.

Getting hosed here in the south too $700. (2 cars for 6 months)

[NeilBlanchard]

In the next 25 years, to keep up with the current rate of demand, we will need to find the equivalent of FOUR new Saudi Arabias:

European Commision director says remaining oil dependent would be "fatal mistake" &mdash; Autoblog Green

[MetroMPG]

Originally Posted by nemo

Getting hosed here in the south too $700. (2 cars for 6 months)

Glad to hear I'm not the only sucker.

[Arragonis]

Originally Posted by NeilBlanchard

In the next 25 years, to keep up with the current rate of demand, we will need to find the equivalent of FOUR new Saudi Arabias:

European Commision director says remaining oil dependent would be "fatal mistake" &mdash; Autoblog Green

You need to click on the photo in this link to see the sources for the info which is a peak oil story on the EuActive website.

I am undecided on this but as one of the sources is Lord Oxburgh - not noted for being particularly clever or attentive over climategate (he didn't look at the science)- I am left slightly doubtful.

The info in the story about production peaking in existing places is credible as is the lack of openness about reserves - because there just isn't any.

I am not a peak oil advocate by any means though.

[jamesqf]

Originally Posted by cleanspeed1

Now folks are going to be very cautious about spending, looking for the best deals possible, conserving capital and energy.

Err... This changes my life how, exactly?

Even when things improve, it won't automatically translate to higher spending. It'll be good for personal saving rates but bad for consumerism.

But since (IMHO, anyway) consumerism is bad for all sorts of things, that works out to a net win. Sorta like saying diet & exercise are bad for obesity, you know?

[Arragonis]

Originally Posted by jamesqf

Err... This changes my life how, exactly?

I suspect not at all for you.

However a lot of other people seem to protect their spending on things like cars and the fuel to put in them (e.g. a cow-orker who has a 300hp+ £25K Subaru on a <£25k salary) but at the same time try to save every penny on things like food or clothes.

I think the saving mentality will shift to cars and FE as well. Kind of like we do here.