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Sifo
| Posted on Wednesday, April 20, 2011 - 06:25 pm: |
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http://www.cnbc.com/id/42683030
quote:Hastings sees gasoline having "no problem" getting to $6.50 a gallon over the summer after increased demand and storm disruptions come into play. Others, though, say gasoline prices haven't needed any help so far from other events—the moves by the Fed to keep interest rates in negative real terms are enough to boost energy by themselves. Michael Pento, senior economist at Euro Pacific Capital in New York, says there is an almost perfect negative correlation between the falling dollar and oil prices—minus-0.9 to be exact. "When you have negative correlations that strong, it's not hard to understand that the reason why we're having this price spike in commodities is primarily because of the weaker currency and not because of shortages of oil or international tensions or global growth," Pento says. The assertion from Hastings that the weak dollar is responsible for one-third of the total cost for a gallon of gas "sounds very low," Pento says, adding that a barrel of oil should be closer to the $65 to $70 range if priced properly. "That's exactly where it would be if we weren't crumbling our currency," he says. Should events follow their current course, sharply higher gas prices will burden consumers further as they also cope with the rise in food costs this year.
That's enough to put a damper on the summer riding fun. |
Americanmadexb
| Posted on Wednesday, April 20, 2011 - 06:34 pm: |
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Time to read "Hyper Miles" by Frank Scardera! |
Froggy
| Posted on Wednesday, April 20, 2011 - 06:42 pm: |
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Hmmm.... I got 27mpg on my last tank... |
Sifo
| Posted on Wednesday, April 20, 2011 - 06:46 pm: |
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I got 12! OK that was with a bus. |
Whisperstealth
| Posted on Wednesday, April 20, 2011 - 07:01 pm: |
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Gas and Food hording will commence soon. People will stay close to home, freedom of travel effectively limited to the few. More people will turn to the government for "help". Yup all is going according to plan.....Commrad... Damn it, really need to get the KLR up and running! |
Cowboy
| Posted on Wednesday, April 20, 2011 - 07:05 pm: |
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I guess the fun will start when you have to rechage your batteries at a special rechaarge station and the price will $50.00 a pop. |
Fast1075
| Posted on Wednesday, April 20, 2011 - 07:11 pm: |
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I need my 1964 honda 50 back...it got AMAZING fuel economy...my XB isn't bad, it got 57mpg last sunday... |
Vtpeg
| Posted on Wednesday, April 20, 2011 - 07:19 pm: |
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I just plunked down 1k for a ten year old ford focus. 35mpg for those times when the buell won't do. Work truck only gets 12 mpg, and thats more expensive diesel. |
Cowboy
| Posted on Wednesday, April 20, 2011 - 07:22 pm: |
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I sure hope every one is happy with CHANGE. |
Aesquire
| Posted on Wednesday, April 20, 2011 - 09:28 pm: |
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Whisper, 2 things, you spelled Comrade wrong, and.... silence, tovarich! You reveal the plan too soon! these bitter clingers still have a tiny chance of reversing the Great Decline! Not very big, I admit, far too many are useful idiots for the Plan to fail. |
Ourdee
| Posted on Wednesday, April 20, 2011 - 10:18 pm: |
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Whisperstealth
| Posted on Wednesday, April 20, 2011 - 11:10 pm: |
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Aesquire, LOL I hope we get to meet someday and I can buy you a drink. |
Preybird1
| Posted on Wednesday, April 20, 2011 - 11:48 pm: |
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Love my KLR It is running.........But i filled up my 7 gallon tank on it and it was $24.00 for super Whats wrong with your klr?
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Whisperstealth
| Posted on Wednesday, April 20, 2011 - 11:53 pm: |
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Brother wrecked it over a year ago. Externals put back together, but now the clutch will not engage. I pull the clutch in and shift into first, and it dumps into gear and stalls. checked the cable and lever on top of tranny, both are working... |
Cityxslicker
| Posted on Thursday, April 21, 2011 - 12:00 am: |
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In Soviet Russia (insert bad Yakov Smirnoff punchline here about gas) znatb knuz tovarish, daute mne eshche vodky ! too f'n lazy to wait for my cyrillic emulator to down load, so sue me. you know the obaminator would prefer we bicycled as much as the Chinese, especially since they OWN us, we should get used to their lifestyle |
Patches
| Posted on Thursday, April 21, 2011 - 04:47 am: |
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MISS ME YET? http://www.youtube.com/watch?v=bEY8ARSGHTU WHO DO YOU THINK SHIT UP IN THIS COUNTRY SO BAD! |
Patches
| Posted on Thursday, April 21, 2011 - 04:51 am: |
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"6$ GAS!!!" When they drop it back to $5.00 a gallon people will think there getting a deal. |
Court
| Posted on Thursday, April 21, 2011 - 06:51 am: |
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$4.45 yesterday , . . . . up about $1.00 in the last month . . . I fill the pickup about 3 times a week at about $80 a pop . . that'll be over $100 now. And . . .with GM headed back into the tank after reporting dismal first quarter results the Obama administration is trying (it's been kept quiet apparently) to dump the governments stock before we get too far into the election cycle. We . . as in you and I . . own 26% of it and the company is right back in the same trap that took them to bankruptcy. . . the make their only profits off the Suburban and large pickups and those things just ain't selling (Ford surpassed GM for only the 2nd time last month). You'll recall the Big O parading about touting his business acumen and assuring us we'd "make money on the deal" . . .well the stock needs to be at $56.00 for us to break even. For the FULL STORY Well . . it's at it's lowest point since we bailed the lazy bastards out . . .
quote:Now we learn that Mr. Obama wants out of GM. Question is, why? And why now? After all, the stock has tanked below 30 after it rose to a high of 39.48 after its IPO last fall. It's understood if the stock goes down further, the drawdown would exceed an estimated $11 billion. If sold now, that is no longer a drawdown but an admittance of loss and a bad investment on the government's books. And that loss is wholly owned by taxpayers.
Apparently some folks never learn . . . And this . . . by the same folks who just spent hundreds of thousands of YOUR dollars to buy SUPER HERO CAPES for unemployed folks to wear around so that they wouldn't have their ego eroded. If you tried your level best to think up stupid shit . . . . . you could not approach what the world's largest millionaires club (ask sometime how folks earning about $100K become millionaires so quickly) led by a neighborhood organizer and a the Veep of Sleep are doing. We deserve better leaders. |
Reepicheep
| Posted on Thursday, April 21, 2011 - 07:47 am: |
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I wish both parties could at least agree that whatever their "good intentions" are, they can't go into debt to fund them. So either have an honest, fair, and upfront fight and get the taxes raised, or try and accomplish the good intentions with whatver slice of the total budget you end up with. But no debt to get there. It's not courageous, moral, or rightous to give away "somebody elses money". |
Fltwistygirl
| Posted on Thursday, April 21, 2011 - 07:59 am: |
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Again, Florida in the news for all the wrong reasons. Pathetic. |
Sayitaintso
| Posted on Thursday, April 21, 2011 - 08:11 am: |
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Again, Florida in the news for all the wrong reasons. Pathetic. I love my state...it never ceases to amaze me what dumbshit we can come up with. Every day is a new adventure. At least gas is only $3.75 a gallon. |
Drkside79
| Posted on Thursday, April 21, 2011 - 08:50 am: |
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Miss me yet? hmmmm NO! |
Firebolt32
| Posted on Thursday, April 21, 2011 - 09:08 am: |
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I read that Obama was quoted saying "get use to it...trade your gas car in for a hybrid..." Really? In Lakeland, FL it cost me nearly $60 to fill a 16 gallon tank in a Mazda 6. It pretty fuel effient, but when I drive 80 miles round trip...it adds up. Luckily I travel on of state, in which my company raised our per diem rates due to the economic costs, and when I home to make that 80 mile round trip I only do it every other week because my brother works with me as well. We take turns driving. People are getting so stupid on I4 I won't take my bike on it anymore. I've been blasted once...it didn't feel too good. |
Cataract2
| Posted on Thursday, April 21, 2011 - 10:02 am: |
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It's time for a new party and I'm not talking Dem or Rep. I'm sick of both of these sorry excuses for political parties. I'm ready to see Lib or some other one. |
Gentleman_jon
| Posted on Thursday, April 21, 2011 - 10:08 am: |
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When are you guys going to figure out that you have an enemy that is causing a lot of problems in your country. Gas prices are just one of them. It is called the Obama regime. Here is a quote from the Secretary of Energy, Steven Chu, just one of a number of eco-marxists around the so-called President. "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe," Mr. Chu, who directs the Lawrence Berkeley National Laboratory in California, said in an interview with The Wall Street Journal in September. So if you want your gov't to help you, you are out of luck. Just be grateful that you didn't vote for him. You didn't vote for him, right?
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Xl1200r
| Posted on Thursday, April 21, 2011 - 10:22 am: |
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Nothing like socializing the fact that gas might get to $6/gal so when it does it's old news and no one cares... At this point, the oil companies have no reason NOT to charge $6/gal by August. |
Court
| Posted on Thursday, April 21, 2011 - 10:28 am: |
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>>>>At this point, the oil companies have no reason NOT to charge $6/gal by August. I agree. You'll recall that recently, when folks were talking about $5.00, that I said $6.00 by the end of summer. Be mindful that the same feds who have us on the cusp of having our credit rating changed from AAA to "Negative" are, via gas taxes, the greatest single benefactor from rising gasoline prices. It gets scarier . . . I, who spend about $28 a day in tolls and drive about 130 miles per day at 13MPG, get reimbursed by . . . you guessed it . . the largest public utility in the country . . . so . . the long and short of it is that you are paying your gas bill AND mine . . when you pay your electric bill. There are idiots steering the ship of state . . . |
Cowboy
| Posted on Thursday, April 21, 2011 - 10:33 am: |
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y dimes worth: Come onfolks wake up.The world has been changig for the last 30 yrs. #1 There is no longet a democrat party. It was hijacked a long time back. by the socialist.#2 the republican partay is where the democrats were 30 yes a go. Dont be loyal to a party just because grand pa was . It is time for you to think for your selfs. |
Cityxslicker
| Posted on Thursday, April 21, 2011 - 11:58 am: |
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all they really have to do, is force the meters to be filled in liters, and the currency to be paid in Yen. .... most americans will have no f'n idea what just happened. the currency reevaluation and schema happens after the election, no matter which party gets elected. |
Buellhusker
| Posted on Thursday, April 21, 2011 - 12:08 pm: |
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There is a silver lining to this, all you have to do is buy stock in the companies that own oil reserves, then you can share in their profits. Simple to get rich in the world today. |
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