IS-SV

Of course he realizes that (like everybody else), which doesn't change someone's individual perspective if they can afford the higher gas prices.

Moving such a high percentage of goods vast distances via less than efficient transportation modes is great, when fuel is only $2/gallon. But obviously it gets quite expensive at $4 to $5.

mmarshall

Exactly. And that's for two reasons. First, petroleum is used in the production of not just auto-fuels, but many of the everyday items we use, especialy with plastics. Second, most of what we need (and use) every day is delivered to stores, restaurants, groceries, etc......by trucks, trains, ships, and sometimes aircraft......all of which, of course, use fuel. The more expensive fuel gets, the more it costs to actually deliver things to market...and the more likely that retail prices will go up.

IS-SV

I knew you were being facetious., it's cool.

But most of the astute people here know that CA has the highest gas prices in the country and they know why. And the 50 cent per gallon difference doesn't even matter, because the cheapest gas in the country is usually found in places that many of us don't want to live for a variety of reasons (including a downgrade in earning power that would hamper the ability to buy even at $2/gallon and maintain lifestyle).

mmarshall

For a long time, Mike, I wasn't a fan of efforts to develop alternative-fuel vehicles, but that's something I'm (somewhat) changing my mind on. It's getting more and more obvious that world crude-oil supplies (even with new discoveries) are going to run out.....perhaps with my lifetime or yours. And, before the supples actually run out, they are going way up in price....just like R12 A/C refrigerant did when it was replaced by the newer R-134. The alternative is just more and more dependence on non-U.S. oil supplies.....sometimes with unstable governments. The technology is there now for alterative-fuel cars.......but the main problem, at least in America, is the lack of a suitable infrastructure for refuelling or recharging those vehicles. We've got to invest in more electric recharging stations, compressed-hydrogen facilities, propane/natural-gas stations, etahnol pumps, etc..... We also have to start producing electricity by non-fossil-fuel methods......I myself am a fan of efficient nuclear-fueled power-plants.

True...........but even Canada has its limitations. They have what is arguably the world's largest supply of oil tar/shale, but it is so expensive to actually get the oil out of it that way that it is just not cost-effective.

bad co

You guys should really read up on theory of peak oil, it will all make sense after a few hours of reading. Call me a nut, but I'm slowly preparing for the crash.

http://theoildrum.com/
http://www.lifeaftertheoilcrash.net/ (this website is having a issue right now)

SLegacy99

It's ashame that the auto industry didn't produce more efficient vehicles sooner, but then again if it isn't broke don't fix it. That being said, gas was 99 cents a gallon and we were all perplexed as to why Toyota would be introducing something called the Prius here. High gas prices hit and Toyota was on top. So if anything, the industry is changing and the cars we have, though more expensive, are better for it. Think of a Pacer vs. a Focus today. World's apart.

But I would agree, nuclear power needs to become a greater presence in this country. Otherwise EVs, PHEVs, our growing pop. won't have the power that is needed.

bagwell

Exxon is making $75000 per second, they have the funds to create the infrastructure but why should they...? with net profit for crude @ $40 billion a year, what is their incentive?

IXI187IXI

iTrader: (3)

gas has been well over $3/gallon here for a few months. Back in 08 when i bought my GS premium was at a high of close to $4.50/gallon.

bagwell

Oil currently trading at $99.47

-J-P-L-

Here's the barrel of oil price since 1987.

Remember when it passed $147/barrel in '08?

JessePS

I now know why Quebec pays through the nose for petrol. Someone told me we get ours from Algeria, Venezuela and other countries

Plus that 16 cent tax per Liter (60 cents per gallon) doesn't help

bagwell

I do, but I can't recall local gas prices from 08.

Stormwind

Gas price around here is now at 3.79 for premium and 3.59 regular. It gonna be fun filling up my Benz this week...14-15 gallons at $3.79. ouch

SNiiP3R

iTrader: (3)

Let it rise, the bubble will eventually burst again. It is obvious that the current situation in Egypt/Lybya is being used to drive up the oil prices. They did not learn their mistake in 2008, bunch of greedy people will lose $ at the end again.

IS-SV

It went over $4 per gallon in most urban areas of US in 2008.