Originally Posted by Imperator

Carter was ready to fund a huge initiative for synthetic gasoline and some other alternatives etc...then miraculously the price of oil, started dropping...the world economically was different then no doubt, but, in the end, opec and their enablers saw what was going to happen so they decided to do what they had to do to help prices ease.....

that may not be possible now, so I fear you are right, but 500? I don't know about that, I'd say 200 will be the alarm bell......then again, what’s that in late 70's dollars?

Originally Posted by Steve

The next time you think gas is expensive here, go buy a gallon of gas in Canada...

Originally Posted by Hank

There parking there cars in Russia also. In Europe it’s nearing $10 U.S. dollars a gallon with average wage at $170.oo a week..
I’m glad I live in America. In the 1970s it cost 5 hours at minimum wage to fill the tank of a Mustang. It still does today. All of this mess and gas still cost the same as it did for the last generation.
What a country boy.

Beware of the deceivers.

Originally Posted by Americano

By what measure? I consider CPI indexes to be mostly useless due to the methodology employed by government statisticians in valuing goods.

Here's a 1979 $20 billis and when in 2007:

$57.14 using the Consumer Price Index
$48.30 using the GDP deflator
$65.61 using the value of consumer bundle *
$54.13 using the unskilled wage *
$80.49 using the nominal GDP per capita
$108.00 using the relative share of GDP

*2006

The relative share of GDP, which is unadjusted for inflation and not tinkered with by feel-good statistical manipulation, is from 2007 (last available year other than noted). Add USD devaluation and you're over current price of oil. Vastly under-priced for a global commodity with a declining supply.




All hindsight and as repeatedly displayed the 'immediate gratification' US has a defined track record of ignoring our past mistakes in most all matters.



The cheap oil, low discovery and production cost, is long gone for all but ME and African reserves. We'll soon see how desperate the US becomes for viable alternative energy with escalating oil costs and devaluing currency as oil futures define their position as the only real hedge against USD devaluation.

Originally Posted by Imperator

thank you for that data. Remarkable isn't it?
I really am seriously thinking of going and buying some 10K wiener car as an alternative to my hog...not because I can't but because I don't want to afford it....and do my part, to deny them any of my hard earned dollars, no matter how small..

Originally Posted by southrnfried

It would be a shame if our politicians would actually lift the 20yr moratorium on oil production in the US and allow us to actual produce our own oil.

We all know what to do but for one reason or another we won't elect federal politicians who will allow us to produce our own energy.

Originally Posted by Americano

What moratorium? New/expanded exploration and production is taking place but we simply don't have enough reserves left to avoid importing the majority of our consumption requirements.

Any additional US production won't affect pump or other byproduct prices.

Originally Posted by Doctor Who

This moratorium.

"The plan takes into account the public protests that led President Bush, last June, to declare all but a tiny portion of the California coast and all of the southern Florida coast off limits for oil and gas exploration for 10 years.

Congress can also restrict offshore drilling, both by passing laws and by withholding money from the Interior Department. Last year it enacted legislation to bar leasing and drilling for one year in Bristol Bay, Alaska, and off Florida and North Carolina."


U.S. BACKS DRILLING FOR OIL AND GAS IN NEW OCEAN SITES - New York Times

Originally Posted by Americano

What moratorium? New/expanded exploration and production is taking place but we simply don't have enough reserves left to avoid importing the majority of our consumption requirements.

Any additional US production won't affect pump or other byproduct prices.

Originally Posted by Americano

Common sense (not enough potential reserves in those areas to affect prices or achieve oil independence) and environmental preservation is now a bad idea in our fiscal desperation?

Originally Posted by Doctor Who

This moratorium.

"The plan takes into account the public protests that led President Bush, last June, to declare all but a tiny portion of the California coast and all of the southern Florida coast off limits for oil and gas exploration for 10 years.

Congress can also restrict offshore drilling, both by passing laws and by withholding money from the Interior Department. Last year it enacted legislation to bar leasing and drilling for one year in Bristol Bay, Alaska, and off Florida and North Carolina."


U.S. BACKS DRILLING FOR OIL AND GAS IN NEW OCEAN SITES - New York Times

Originally Posted by Imperator

paid 4.38 for supreme yesterday, deiasel was 4.88....man of man...