US Gasoline Pump Prices Poised To Catch Up With Crude Boom - $6/gallon is coming...

[w¡n9Nµ7 §£@¥€r 123]

We have three christian missions which take them in for a time.

I don't get it. Why?

[Dr. A ♥ O 203]

We have three christian missions which take them in for a time.

I don't get it. Why?

There are three chrisitian rescue missions stationed around the region that take in the passing homeless. They shelter them, feed them, cloth them, and try to help them get work so they can get money and stand on their own two feet.

Edited June 8, 2008 by Olivia*

[w¡n9Nµ7 §£@¥€r 123]

We have three christian missions which take them in for a time.

I don't get it. Why?

There are three chrisitian rescue missions stationed around the region that take in the passing homeless. They shelter them, feed them, cloth them, and try to help them get work so they can get money and stand on their own two feet.

We weren't talking about the homeless.

[LaL 418]

Do you guys actually see a lot of Hummers on the streets? I don't. Never have. Maybe 1-2 a year.

There were loads of them where I lived in Tampa (There was 2 in my small subdivision as well). I saw even more as moving advertisements for businesses. I rarely see them here in KS.

[Jenn! 918]

I see Hummers pretty often. A few people at my workplace drive them too.

[w¡n9Nµ7 §£@¥€r 123]

Do you guys actually see a lot of Hummers on the streets? I don't. Never have. Maybe 1-2 a year.

Over here it's mostly these: (and I'm still seeing many of them on my long commute from OC to LA)

Oh yeah - SUVs are everywhere here. My corporate parking lot is probably 2/3rds SUVs and pickups.

Laura/Jenn,

Wow! I feel left out I'm the only one who never sees 'em.

[Dr. A ♥ O 203]

We have three christian missions which take them in for a time.

I don't get it. Why?

There are three chrisitian rescue missions stationed around the region that take in the passing homeless. They shelter them, feed them, cloth them, and try to help them get work so they can get money and stand on their own two feet.

We weren't talking about the homeless.

oh my brain really streched that one. anyways. yes there are hummers all over this region everyday all the time.

[w¡n9Nµ7 §£@¥€r 123]

So it really is just me

[Mr. Big Dog 10,747]

We have three christian missions which take them in for a time.

I don't get it. Why?

There are three chrisitian rescue missions stationed around the region that take in the passing homeless. They shelter them, feed them, cloth them, and try to help them get work so they can get money and stand on their own two feet.

We were talking about Hummers.

These:

Not these:

Wow! I feel left out I'm the only one who never sees 'em.

You need to get out more.

[GaryC 7]

The price of oil is mainly from speculators. The range that price is in now cannot be sustained. It is a bubble that will break just as the housing market bubble and the .com bubble both broke. I really doubt if we ever see $10/gallon gas.

[Sheriff Uling 3]

The price of oil is mainly from speculators. The range that price is in now cannot be sustained. It is a bubble that will break just as the housing market bubble and the .com bubble both broke. I really doubt if we ever see $10/gallon gas.

True! However, I never thought that we would see $5/gallon gas either, but yet, here we are... But you are right, I don't actually think (or should I write hope) that we will ever see $10/gallon gas. (((my fingers are still crossed)))

[Mr. Big Dog 10,747]

The price of oil is mainly from speculators. The range that price is in now cannot be sustained. It is a bubble that will break just as the housing market bubble and the .com bubble both broke. I really doubt if we ever see $10/gallon gas.

Part of making that bubble burst is driving down demand. Both the .com bubble as well as the housing bubble were popped that way.

[GaryC 7]

The price of oil is mainly from speculators. The range that price is in now cannot be sustained. It is a bubble that will break just as the housing market bubble and the .com bubble both broke. I really doubt if we ever see $10/gallon gas.

Part of making that bubble burst is driving down demand. Both the .com bubble as well as the housing bubble were popped that way.

The rising prices will reduce demand. Econ 101. It will be a self popping bubble if things continue the way it is.

[w¡n9Nµ7 §£@¥€r 123]

The price of oil is mainly from speculators. The range that price is in now cannot be sustained. It is a bubble that will break just as the housing market bubble and the .com bubble both broke. I really doubt if we ever see $10/gallon gas.

The speculation in oil commodities, just like speculation in all other commodities, is based on expectations of future demand. Unless there's a good case to be made that the expectations of future demand (mostly due to expectations of growth in the third world) are inflated and incorrect, these gas prices are likely not going to decrease a lot.

For example, home prices in this housing bubble, based on data from OFHEO, in the Edison/New Brunswick NJ MSA, from 1976 to 1q 2008 looks like something like this

Dates aren't in the x-axis because each data point is for a quarter and I don't like the clutter. But as should be clear, when prices are based on expectations of future demand, a bubble will often overshoot but that does not mean the entire increase in price was unsound. If you look at the previous "bubble" (yes, it was called that at the time), prices never did come down to pre-bubble levels.

So don't expect gas prices to go back down to pre-bubble levels either. At some point, speculators will overshoot and when that happens we will "correct". But that doesn't mean that the speculation in its entirety is wrong or unsound.

Edited June 8, 2008 by VJ Troll

[GaryC 7]

The price of oil is mainly from speculators. The range that price is in now cannot be sustained. It is a bubble that will break just as the housing market bubble and the .com bubble both broke. I really doubt if we ever see $10/gallon gas.

The speculation in oil commodities, just like speculation in all other commodities, is based on expectations of future demand. Unless there's a good case to be made that the expectations of future demand (mostly due to expectations of growth in the third world) are inflated and incorrect, these gas prices are likely not going to decrease a lot.

For example, home prices in this housing bubble, based on data from OFHEO, in the Edison/New Brunswick NJ MSA, looks something like this, from 1976 to 1q 2008 looks like something like this

Dates aren't in the x-axis because each data point is for a month and I don't like the clutter. But as should be clear, when prices are based on expectations of future demand, a bubble will often overshoot but that does not mean the entire increase in price was unsound. If you look at the previous "bubble" (yes, it was called that at the time), prices never did come down to pre-bubble levels.

So don't expect gas prices to go back down to pre-bubble levels either. At some point, speculators will overshoot and when that happens we will "correct". But that doesn't mean that the speculation in its entirety is wrong or unsound.

No, it will not come down to the pre-bubble price because of the demand from China and India. But it will come down to a more reasonable level that is less than it is today. $2 gas will never be back. But $2.50 - $3.00 will be the norm soon. If we can convince the pin-heads in Washington to allow us to drill our own oil it will also have an effect on the speculators. They will see an increased supply in a few years and that will also drive the price down today.