Gas Tops $4 A Gallon

[Notmuchlonger]

Soon the obesity problem will lessen.

YouTube - Bicycle race Queen

[RetiredGypsy]

Some bicycles already cost more than some used cars. That's scary. My first bike cost $49, now the ones I've seen cost $1,000 or more. I saw one for $6,000. A bicycle!

[newguy88]

Originally Posted by RetiredGypsy

Some bicycles already cost more than some used cars. That's scary. My first bike cost $49, now the ones I've seen cost $1,000 or more. I saw one for $6,000. A bicycle!

K2 Big Easy Bike - '07 Closeout from REI-OUTLET.com

[Boxkicker]

Paid $4.24/gl this morning onbase in Imperial Beach CA!

[Notmuchlonger]

Originally Posted by RetiredGypsy

Some bicycles already cost more than some used cars. That's scary. My first bike cost $49, now the ones I've seen cost $1,000 or more. I saw one for $6,000. A bicycle!

But they only cost calories to run! think of the health problems that will be cured

[RetiredGypsy]

If I didn't have a 48 mile round trip commute, I would be using a bicycle now to go to work on. I love me a good ride, on the trail or on the road! It just astonished me that they've become that expensive. Maybe they have been for a while and I've just been sheltered. The last high end mountain bike I bought cost $350 a couple years ago, now the multipurpose one I'm looking at is around $1,200.

I think it pays for itself many times over even at that cost. I've just been sticker shocked.

[HFWR]

I own two bicycles: an old Fuji 12-gear, bought at a yard sale for $35, and a Schwinn Stump Trainer Jumper, found on Craigslist for $30.

[chinaco]

All economies are suffering from energy prices. The G-8 met and energy cost was a topic.

Since energy is becoming a threat to economic stability, it sounds like alternatives to oil will be a focus.

The oil producing countries will be scr3wed. Fine with me... several of them are not friendly to the US anyway. The ones that are friendly to no rely on oil too much anyway.


G-8 to fight oil prices with efficiency, tech: Financial News - Yahoo! Finance



Take a look at this headline from 1 year ago. My how things change. GM and Ford may not survive if they do not get thier act together.

U.S. auto chiefs make headway against fuel economy rules - International Herald Tribune

[TromboneAl]

We did it! National average price is over $4 as of today. I filled up with $4.49 gas yesterday, and our local station is $4.62.

If I didn't have a 48 mile round trip commute, I would be using a bicycle now to go to work on.

It's not reasonable, but this guy biked 42 miles to work for a month.

Man Saves Money, Bikes 42 Miles To Work - Bakersfield News Story - KERO Bakersfield

That poor guy has his seat too low, and would benefit from having his feet clipped onto the pedals.

[Wags]

ABC News - Rising Pain: Average Gas Prices Hit $4
Oil in Short Supply and Weak Dollar Add to Americans' Woe

ABC News: Rising Pain: Average Gas Prices Hit $4

Excerpts from the article

Across the nation this weekend, thousands of gas stations that had not already done so raised their prices over the $4 a gallon mark.

A gallon of unleaded gas now costs more than a Starbuck's cappuccino and is closing in on the cost of a gallon of milk.

There's more to come, said Mark Zandi, chief economist with Moody's Economy.com. He expects average gas prices -- pegged at $4 a gallon this weekend by the Automobile Association of America -- to hit $4.10 or $4.15 by Friday and $4.50 by July 4.

"Gas prices are going to head straight up, every day a few more pennies,"
Zandi said.

Economists blame surging global demand, a weak dollar and investor speculation in the hot energy markets. And rising gas prices aren't the only reason economists are beginning to use the R-word. The latest cover of Newsweek says it all: "Recession."

On Friday the battered economy saw a triple whammy of bad news: The highest jump ever in the price of oil, a dramatic rise in unemployment and a 400-point drop in the Dow Jones Industrial Average, not to mention continuing turmoil in the housing market.

End of excerpts.

I guess the Big R is right around the corner - with the big D jabbing us in the back.

Where is the GREAT Al Gore when America needs him?

It just might be time for Mr. Bush to make another visit to the Saudi King for another round of hugs and kisses - maybe this will bring down the price of oil.

God Bless Us All

[Boxkicker]

HOBBS, N.M. (AP) — Tony Pearson can always tell when times are good in the New Mexico oil patch. It's all in the quality of goods passing through his pawn shop.
"When people bring in their good stuff, you know they'll be back quickly to get it," said Pearson, who has run TP Pawn for 20 years. "When the oilfield slows, forget it. It's junk. You might not see those folks again."
These days, Pearson's trade is looking great.
As consumers nationwide feel the pinch of gasoline near $4 a gallon or higher, this city of 30,000 residents in New Mexico's southeastern corner is thriving, riding a wave in the boom-and-bust cycle that defines an oilfield economy.
Subdivisions are going up and six hotels are under construction. City Hall moved into an empty bank building, spruced up by an $8 million renovation.
"Great things are happening here," said Bethe Cunningham, president of Lea County Economic Development Corporation.
Municipal gross-receipts taxes have doubled since 2001, surpassing $36 million during the past fiscal year.
It's not strictly skyrocketing gas prices that are helping Hobbs. Part of the building boom stems from a $1.5 billion uranium enrichment plant going up in Eunice, 20 miles to the south.
The facility will employ 300 when it goes online next year. Currently, there are 1,300 construction workers on site.
Then there's Zia Park, a horse racing track and casino that opened three years ago. And Colorado Energy is building an electrical power plant west of Hobbs, bolstering the city's reputation as a burgeoning energy center.
Still, it's black gold that drives the local economy.
"They have successfully diversified their economy, but oil and gas is still the bread and butter in Hobbs, bottom line," said Bob Gallagher, president of the New Mexico Oil and Gas Association.
And business is booming. Lea County, which includes Hobbs, produced a little more than half of the 66 million barrels extracted from New Mexico oil wells last year.
Two factors are driving the boom.
With oil prices recently reaching a record of $135 a barrel, the industry is well beyond the $75 to $80 cutoff needed to turn a profit on high-risk drilling projects, and after recent technological improvements, producers can afford to drill after years of marginal activity.
"The oil is there. You just have to untrap it," Gallagher said. "What we're seeing now is that people are going back to projects that were not economically feasible at $40 to $50 a barrel."
Yet for old-timers, it's impossible to forget the stagnant economy of the 1980s and 1990s. With oil prices at just $9 a barrel during a 1999 slowdown, Hobbs property values dropped as much as 40 percent.
"During the lean times, it seems the recovery years were getting longer and longer," Pearson said.
For now, Hobbs is racing to accommodate transient construction and oilfield workers seeking six-month housing leases. Other tenants might be new arrivals who need a rental while deciding whether to buy a home or build.
"We are just absolutely slammed," said Phyllis Eggimann, property manager for PMR real estate management services.
While there's no dispute the boom is great for Hobbs, the good times invariably bring a few wrinkles, too.
Lea County's unemployment rate of 2.1 percent is tied with Union County for the lowest in New Mexico. Problem is, companies are having trouble finding qualified workers.
"We're all fighting for the same job pool of people," said Charley Smith, owner of an oil rig company and two automobile dealerships.
Some who could work are unable to pass required drug tests. And when it comes to specialized workers, such as skilled auto mechanics to service late-model vehicles, good help is tough to find.
"There's not a lot of room for bargaining when an employee wants something," Smith said. "It's their market at the moment, and it's difficult when we're not really hiring new people. We're just stealing from each other."
Meanwhile, options are limited for affordable rental housing. Eggimann said she can secure a 4-bedroom home for a family at around $2,000 a month, while a 1-bedroom runs $550. Often, there are just one or two sites to consider.
"You may not have much of a choice, but I'll usually have something," she said.
Of course, high gas prices are affecting motorists in Hobbs just like anywhere else.
Smith said SUV sales have softened at his dealerships and oilfield companies are spending more on maintaining fleets of four-wheel-drive service trucks, rather than buying new vehicles.
"It's a two-edged sword," Gallagher said. "Just because Hobbs or the state of New Mexico is awash in cash, there are still people hurting out there. If they can't make rent or buy groceries, that's not good for the overall economy."

[Wags]

With the price of a gallon being right near at $4 I believe it is time for the family and I to start looking for a good mule to ride.

YouTube - Riding a Mule Bareback

God Bless Us All

[jambo101]

$1.50 a litre here in Montreal today,not sure how that translates to MPG but its probably up in the $6 range.As i'm writing this CNN is telling me the gas companies are making record profits, $39 billion combined

[Wags]

Interesting article in Yahoo.com - Rethinking the cost of hybrid cars

Rethinking the cost of hybrid cars : Yahoo! Green

Excerpts from the article

For starters, hybrids are holding their value better than non-hybrid cars. This means that, even if you don't recoup the extra cost of the hybrid in gas savings, you're likely to get more money out of the car when you decide to sell it.

In addition to resale, some lenders -- typically credit unions -- offer discounted loan rates for hybrids. And some insurance companies -- including Geico, the Travelers, and Farmers -- offer discounted premiums.

End of excerpts

Hybrids a wave of the future?

God Bless Us All

[RetiredGypsy]

$4.49 today. Any time of the day between about 0630 and 1900 this gas station is constantly seeing customers. This morning there were five cars, and when one left there wasn't another to take its place.

However, every Prius I saw was going as fast or faster than the traffic around it on the interstate, which rarely sees anyone under 75 MPH, and more closely ranges between 80-90. It seems to defeat the purpose.

[bright eyed]

4.49 and up here for lowest grade, 4.29 at costco and the line was LOONG!

i'm hearing about the "speculating" tilting the price up - as people speculate the increased consumption around the world, or is it all of a sudden the consumption ramped up over a few week- months period?

the speed of the rise is curious - or was this also expected? now the news is all about "when is $5 next" - feels like they're just conditioning us...

[rs0460a]

Originally Posted by jambo101

$1.50 a litre here in Montreal today,not sure how that translates to MPG but its probably up in the $6 range.As i'm writing this CNN is telling me the gas companies are making record profits, $39 billion combined

1 US gal = 3.785 litre
$1.50 CD = $1.46648 $US

Therefore $1.46648 x 3.785 = $5.55 (per gal, US funds). Close enough to $6 ...

- Ron

[Khan]

Yesterday in Beavercreek, OH saw $3.999.

[HFWR]

Originally Posted by Khan

Yesterday in Beavercreek, OH saw $3.999.

Well, at least it's not $4...