JoeMerchant
ASA pilot
- Joined
- Mar 31, 2005
- Posts
- 6,353
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Don't worry, President Hillary will fix things...... $10 says ALPA endorses her and she is elected.....
Actually, corrected for inflation, oil was higher priced (value) during the embargo in the early 80's. That being said were still looking at oil prices about 160% of what they were just three years ago. I would be surprised by oil topping $100 a barrell in the next three years. Wait till a hurricane rips a few dozen rigs out of the ground again......
Then again, when consumers display a willingness to keep consuming a product even at record high prices, why should price ever go down. Sure we need oil, but we don't all need to be driving 85 mph by ourselves in pick up trucks, but we still do.
Then again, when consumers display a willingness to keep consuming a product even at record high prices, why should price ever go down.
Then again, when consumers display a willingness to keep consuming a product even at record high prices, why should price ever go down. Sure we need oil, but we don't all need to be driving 85 mph by ourselves in pick up trucks, but we still do.
They find oil, drill a hole in the ground, pipe it to the Persian Gulf, load it into a ship, sail halfway around the world, unload it, pipe it to a refinery, refine it, ship it on a truck to a gas station, and then sell it at a profit and it is still about 5x's less expensive then a bottle of water purchased at the same gas station.
Some bad oil news today. Saudia Arabia is talking about switching to the Euro.
So by that logic, since oil is at least 10 times more difficult to get to the consumer than water (even the fancy kind) then oil should be 10 times more than the most expeisive bottled water?