$100/barrel oil on the horizon

[SnowRidge]

I suspect most people will make do with the vehicles they have right now. Doesn't make much sense to invest several thousand dollars in another vehicle to save $20 on a fill-up.

And yet, otherwise intelligent people do just that. Imagine someone trading in a 6 month old Accura SUV just to get better mileage and eating all that initial depreciation. That's what an inlaw of mine did. The mind boggles.

 

[SnowRidge]

CNN had a story on tonight that it is Wall street driving up fuel prices not the oil producers. All the speculators biding it up.
And the government makes way more profit on fuel than the oil producers in taxes. Since sales tax is based on price not per gallon the states are cleaning up to.

Those are commodities brokers who are bidding it up because they forsee a shortage. Their job is to secure adequate supplies for their customers. If they are wrong, and I hope they are, the prices will fall.

 

[Rara Avis]

Those are commodities brokers who are bidding it up because they forsee a shortage. Their job is to secure adequate supplies for their customers. If they are wrong, and I hope they are, the prices will fall.

Well I think they are going to stay up, so I'm trading in the wife's 2001 Jimmy for the new 50 state diesel VW Jetta that is coming in April 2008...

 

[RedRocker]

Well I think they are going to stay up, so I'm trading in the wife's 2001 Jimmy for the new 50 state diesel VW Jetta that is coming in April 2008...

Where can I get some info on that Jetta?

 

[amigauser]

Where can I get some info on that Jetta?

First Drive: 2008 Volkswagen Jetta TDI - Previews - Car and Driver February 2007

 

[riptides]

Diesel in my area, "Northern VA" 3.26..........

I am taking bets on 3.50 at months end.


Ouch! My big Ford, is sitting more and more. But it sure looks pretty sitting there!

-Mike Z.

 

[LarryRB]

3.71 at the TA truck stop in Willington CT and it's still heading north. Almost a full dollar per gallon higher than regular gas.

 

[SnowRidge]

A news report last night said there are no fundamentals that justify the oil prices. It's all fear of political instability in the Middle East. The report also predicted winter heating oil prices to be 20% higher than last year. Since diesel prices are tied closely to heating oil prices, that was not what I wanted to hear.

 

[Rara Avis]

Where can I get some info on that Jetta?

Fred's TDI Page. TDIClub.com. VW TDI Enthusiast Community

 

[RichNJKubota]

Perhaps the price of oil is influenced by supply of oil vs. demand for oil? Or is that too simple an explanation?