[Maverick60]

Originally Posted by Soup Nazi

But then again....

But then again has my vote. Haha.

[Cosmo Kramer]

Originally Posted by Maverick60

But then again has my vote. Haha.

I remember they said that during the tech bubble...and the real estate bubble...then they all got scalped

[Palo Alto Labs]

I love how people complain about gas but still pay $100++ for digital TV and 1000 channels and other luxuries that are unnecessary in life.

This is NOT directed towards anyone on the forum, but just the average consumer. Gas prices suck...but its costing most of us about $50-$100 more per month. Im sure most of us can give up 1 or 2 luxuries to cover that difference. (ie processed foods, eating out, cable tv, etc).
On the flip side... boneless/skinless chicken is $1.75/lb at albertsons... saves me $2/lb right there over the regular supermarket. Theres ways to offset the gas prices... even if you have to become a coupon cutter..ha

[Palo Alto Labs]

Originally Posted by Soup Nazi

I remember they said that during the tech bubble...and the real estate bubble...then they all got scalped

what real estate bubble?



i saw this on amazon...people can be so dumb

Are You Missing the Real Estate Boom?: The Boom Will Not Bust and Why Property Values Will Continue to Climb Through the End of the Decade - And How to Profit From Them (Hardcover)
http://www.amazon.com/Are-Missing-Re...787349&sr=8-15

[Maverick60]

Originally Posted by Soup Nazi

I remember they said that during the tech bubble...and the real estate bubble...then they all got scalped

True. I hope so.

It just seems like oil being something that no one can just go out and start a new company to produce, and unlike houses, anyone can afford $30 for a few gallons of gas without having to qualify for anything, and that will allow the bubble to endure more pokes from the pin. I know there are several other factors that can influence this whole situation, but there isnt going to be a flood of competition influx, and no one is going to change laws on who can qualify to purchase gas.

Im not really trying to argue against your opinion here, more just trying to say that I think the oil industry has more control over its future than other bubbles of the past. You seem to be more educated on the matter, so I hope your projection of the situation is better than my speculation.

[Maverick60]

Originally Posted by Palo Alto Labs

what real estate bubble?



i saw this on amazon...people can be so dumb

Are You Missing the Real Estate Boom?: The Boom Will Not Bust and Why Property Values Will Continue to Climb Through the End of the Decade - And How to Profit From Them (Hardcover)
http://www.amazon.com/Are-Missing-Re...787349&sr=8-15

My little brother just bought a house here for $120k. We figured it cant go down much lower than that. He needed to move out of my moms house anyway though. And $120k for anything in Cali is a deal.

[Palo Alto Labs]

Originally Posted by Maverick60

My little brother just bought a house here for $120k. We figured it cant go down much lower than that. He needed to move out of my moms house anyway though. And $120k for anything in Cali is a deal.

I just bought a house in south florida a few weeks ago as well.. the deals are amazing for buyers... At closing... the seller walked away with a check for $75.95.
getting a mortgage was close to impossible thou. banks dont want want to give any money unless you are putting down a significant dp right now.
This place only costs me a little more than renting, and I bought it so much lower than its value that I will be comfortable even if the market drops more in south florida (which it will).

[DGSky]

By ADAM SCHRECK, AP Business Writer
Oil prices made their biggest single-day leap ever Friday, dragging the Dow Jones industrials down nearly 400 points and raising the once-unthinkable prospect of $150 oil and more record gas prices by the Fourth of July.

The meteoric rise of nearly $11 for the day piled atop an increase of almost $5.50 the day before, taking oil futures more than 13 percent higher in just two days, easily a record on the New York Mercantile Exchange.

And those weren't the only stunning numbers of the day: The government also reported the nation's unemployment rate zoomed to 5.5 percent in May, a monthly rise of half a percentage point, the biggest in 22 years.

Oil settled at $138.54, a rise of more than 8 percent. The surged came after Morgan Stanley analyst Ole Slorer predicted strong demand in Asia and tight supplies in the Western Hemisphere could drive prices to $150 by Independence Day, when millions of Americans take to the roads.

[Xodus]

Originally Posted by DGSky

By ADAM SCHRECK, AP Business Writer
Oil prices made their biggest single-day leap ever Friday, dragging the Dow Jones industrials down nearly 400 points and raising the once-unthinkable prospect of $150 oil and more record gas prices by the Fourth of July.

The meteoric rise of nearly $11 for the day piled atop an increase of almost $5.50 the day before, taking oil futures more than 13 percent higher in just two days, easily a record on the New York Mercantile Exchange.

And those weren't the only stunning numbers of the day: The government also reported the nation's unemployment rate zoomed to 5.5 percent in May, a monthly rise of half a percentage point, the biggest in 22 years.

Oil settled at $138.54, a rise of more than 8 percent. The surged came after Morgan Stanley analyst Ole Slorer predicted strong demand in Asia and tight supplies in the Western Hemisphere could drive prices to $150 by Independence Day, when millions of Americans take to the roads.

How about Ole Slorer just 'predict' oil will plummet to $80/bbl?

[DGSky]

Originally Posted by Palo Alto Labs

I love how people complain about gas but still pay $100++ for digital TV and 1000 channels and other luxuries that are unnecessary in life.

This is NOT directed towards anyone on the forum, but just the average consumer. Gas prices suck...but its costing most of us about $50-$100 more per month. Im sure most of us can give up 1 or 2 luxuries to cover that difference. (ie processed foods, eating out, cable tv, etc).
On the flip side... boneless/skinless chicken is $1.75/lb at albertsons... saves me $2/lb right there over the regular supermarket. Theres ways to offset the gas prices... even if you have to become a coupon cutter..ha

I totally agree on your assessment to some degree. A buddy of mine has the luxury of a fixed work location and has filled up his gas tank three times this year while riding public transportation. I, on the other hand, have to drive to different locations throughout southern california. I try and scheule all meetings in the same locations even if it means sitting on a project a week or so. Plus I never schedule meetings that will have me driving in peak traffic.

I have already cut down cable to the basic stations and for the first time check coupons.

[DGSky]

Originally Posted by Xodus

How about Ole Slorer just 'predict' oil will plummet to $80/bbl?

Even if it did I believe oil companies will come up with some excuse to keep prices elevated.

We need a president with enough balls to make the statement that we will be off oil in 10 years and will it to happen, just as Kennedy said with regard to a man on the moon.

[Xodus]

Originally Posted by DGSky

Even if it did I believe oil companies will come up with some excuse to keep prices elevated.

We need a president with enough balls to make the statement that we will be off oil in 10 years and will it to happen, just as Kennedy said with regard to a man on the moon.

Have you seen the movie 'Who killed the Electric Car?'

Oil companies are becoming 'Energy Companies' which is why electric cars have died and the governmental push for 'Hydrogen' (which is a HELL of a ways off). They will continue to dangle the hydrogen carrot in front of us long enough to sell all of their oil reserves. Government 'intervention' just equates to legislation and pandering to get kickbacks, stock options and cushy positions within their company when the politician is out of office.

The C.A.R.B (California Air Resources Board) chairman was already a major player in Hydrogen when he essentially squashed all of the electric infrastructure in California.

[Cosmo Kramer]

Originally Posted by Palo Alto Labs

I love how people complain about gas but still pay $100++ for digital TV and 1000 channels and other luxuries that are unnecessary in life.

Very true but you know you NEED a $400 Iphone with $150/month in service charges.

When you look at what the average household compared to 20 years ago it is pretty astonishing. How many TV's per household? 13 yr olds with personal phones? How many 16yr olds get cars today compared to 20yrs ago? In reality, we got it pretty damn good compared to almost every other country out there. We simply are a spoiled nation that doesn't want to give up anything...

...and contrary to what some environmentalists seem to think, there is nothing wrong with that

[Xodus]

Originally Posted by DGSky

Even if it did I believe oil companies will come up with some excuse to keep prices elevated.

We need a president with enough balls to make the statement that we will be off oil in 10 years and will it to happen, just as Kennedy said with regard to a man on the moon.

BTW, it was a joke...

[Cosmo Kramer]

Originally Posted by Maverick60

True. I hope so.

It just seems like oil being something that no one can just go out and start a new company to produce, and unlike houses, anyone can afford $30 for a few gallons of gas without having to qualify for anything, and that will allow the bubble to endure more pokes from the pin. I know there are several other factors that can influence this whole situation, but there isnt going to be a flood of competition influx, and no one is going to change laws on who can qualify to purchase gas.

That's the thing, if prices start to go up significantly higher then competition is exactly what you will have. Right now, the majority of middle eastern and Asian countries subsidize oil and they simply cant afford to keep doing that. What people don't understand is even though countries like Iran have an enormous amount of oil....they can't even refine it. The actually buy gasoline from us! They are going to be forced to pass the price increase on the actual consumer. Once you do that, then the playing field becomes more level and you will see prices drop. Now that's not going to happen overnight but you already it happening in some countries.

Im not really trying to argue against your opinion here, more just trying to say that I think the oil industry has more control over its future than other bubbles of the past. You seem to be more educated on the matter, so I hope your projection of the situation is better than my speculation.

I'm not trying to say it's going to drop like a rock...the underlying demand will still be there but much of the price now is reflective of the wea