We cannot drill our way out of this oil crisis. Since 2000, oil companies working in the U.S. have doubled the number of wells drilled per year.
Although increased drilling has added new oil to the nation's supply, it has not done so fast enough to offset the terminal decline of existing fields.
We are going to have to import more of our oil. Period.
Joined: Mar 19, 2005 Posts: 768 Location: Bridge City
Posted: Tue Nov 13, 2007 12:14 pm Post subject: Re: Another Gasoline Record
must be nice to be a TDI owner...i have a 1.7l gasoline powered civic...i'm about to find some emblem to make it look like i have a more gas guzzling engine...any suggestions? _________________ "if god doesn't exist, it is necessary that we invent him" - Voltaire
Posted: Tue Nov 13, 2007 12:30 pm Post subject: Re: Another Gasoline Record
Roy wrote:
Maybe the 1.8T would also be a good replacement???
Probably not the 1.8T, but the 2.0T instead, especially since the typeface for the trim level emblem on the MK5 is different than the 1.8 MK4.
ULSD has also noticeably reduced the telltale soot residue around my exhaust pipe as well, so I don't have to worry about being found out!
On a side note, Audi has a new diesel website (Audi U.S. Diesel) indicating that they are bringing diesels to the U.S. Sign me up for an A4 Avant TDI, please! _________________ “I'm completely in favor of the separation of Church and State. My idea is that these two institutions screw us up enough on their own, so both of them together is certain death.” George Carlin
Posted: Tue Nov 13, 2007 12:42 pm Post subject: Re: Another Gasoline Record
Chuckmak wrote:
must be nice to be a TDI owner...i have a 1.7l gasoline powered civic...i'm about to find some emblem to make it look like i have a more gas guzzling engine...any suggestions?
Too easy...
_________________ “I'm completely in favor of the separation of Church and State. My idea is that these two institutions screw us up enough on their own, so both of them together is certain death.” George Carlin
Joined: Jun 18, 2004 Posts: 679 Location: Western North Carolina
Posted: Tue Nov 13, 2007 12:59 pm Post subject: Re: Another Gasoline Record
Quote:
must be nice to be a TDI owner...i have a 1.7l gasoline powered civic...i'm about to find some emblem to make it look like i have a more gas guzzling engine...any suggestions?
How about an SI emblem or a VTEC emblem from an older Civic Si or from an Integra VTeC? Type R??
Posted: Wed Nov 21, 2007 9:23 am Post subject: Re: Another Gasoline Record
Just a thought...do you think the reason the price at the pump isn't really budging, while oil prices are skyrocketing, is to keep the consumer spending with abandon? After the Xmas season is mostly past, I bet prices rocket up.
Joined: Mar 26, 2005 Posts: 3587 Location: over here
Posted: Wed Nov 21, 2007 9:40 am Post subject: Re: Another Gasoline Record
Chuckmak wrote:
must be nice to be a TDI owner...i have a 1.7l gasoline powered civic...i'm about to find some emblem to make it look like i have a more gas guzzling engine...any suggestions?
$4.50 for diesel will seem so cheap in a few years. _________________ "Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
Joined: Oct 23, 2004 Posts: 5081 Location: New Jersey
Posted: Thu Dec 27, 2007 9:17 am Post subject: Re: Another Gasoline Record
Citigroup energy analyst Doug Leggate sees a lower US dollar, higher ethanol prices, and higher refining margins driving the retail price of gasoline higher in 2008.
Quote:
Oil firms above $94, looks toward U.S. stock draw
December 26, 2007
"We caution that the turn of the year likely brings renewed focus on weaker seasonal Q208 demand. Alongside a more sanguine view of the U.S. dollar, we suggest the bias could quickly move to the downside," said Citi Investment analyst Doug Leggate.
Ethanol cash margins likely to rise on U.S. energy bill, Citigroup says
Last update: 4:49 a.m. EST Dec. 27, 2007
SINGAPORE (Dow Jones)--Ethanol prices are now trading in line with gasoline prices for the first time since late August and, fueled by the new U.S. energy bill, are likely to rise further, Citigroup said in a recent report.
"We firmly believe the new energy bill will serve as a significant catalyst to the ethanol industry, as the higher mandated ethanol levels stipulated by the new renewable fuel standard should serve to bring ethanol supply and demand back into balance, thereby strengthening ethanol's pricing fundamentals," said the report.
The bill stipulates biofuels consumption of 36 billion gallons by 2022. The U.S., the world's largest consumer of ethanol, consumed 5.6 billion gallons in 2006.
Gasoline prices remain high around $2.45 a gallon, but "the story remains the continued increase in ethanol prices," says Citigroup.
Citigroup: Shortage of Blending Components Will Support Margins
Citigroup analyst Doug Leggate says investors' current bearishness about the outlook for the refining sector is misplaced, arguing that a "structural shortage in critical blendstocks" needed to make gasoline that meets summer specifications will support a recovery in margins next year. (Thursday, December 27, 2007)
Gasoline could average $3.75 a gallon across the U.S. in a few months, pushing the price in California up and over the $4 mark, energy analysts said Wednesday.
Several factors point toward a nightmarish spring for motorists, they said, including persistently strong crude oil costs and the fact that the traditional December drop in pump prices didn't materialize.
"If anyone expects gas to be less than a new record, they are not thinking," said Fadel Gheit, senior energy analyst for Oppenheimer & Co. "There is no question it will be much higher than last year."
Americans will start 2008 paying about 65 cents more a gallon than they did in January 2007, according to the forecasts, and by April could see self-serve regular selling for $3.50 to $3.75 a gallon.
In California -- where gas this year has fetched as much as 50 cents more than the national average -- $4 a gallon "will no longer be considered a rogue number," said Tom Kloza, chief oil analyst for the Oil Price Information Service. "It will list for that much in a lot of places."
The Energy Department's weekly survey of service stations Monday found the average pump price was $2.980 nationally and $3.261 in California, a couple of pennies lower than a week earlier -- but much higher than the same period last year, when the number was $2.341 across the U.S. and $2.607 across the state.
"It's unprecedented having prices this high at the end of the year," said Marie Montgomery, a spokeswoman for the Automobile Club of Southern California.
_________________ "Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
Posted: Thu Dec 27, 2007 1:24 pm Post subject: Re: Another Gasoline Record
Top 10 All-Time RBOB closing prices:
Quote:
Sep 01, 2005 281.25
Aug 31, 2005 279.5
Aug 30, 2005 253.75
May 11, 2006 252.5
May 10, 2006 250.44
Nov 23, 2007 250.16
Nov 20, 2007 249.75
Nov 09, 2007 249.38
May 18, 2007 248.95
May 17, 2007 248.78
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