We're not in a recession already?

[acealive1]

http://news.yahoo.com/s/ap/20080228/ap_on_go_pr_wh/bush;_ylt=AjT3HWIVjCf..2leWDjp_sqGOrgF

[rightwing401]

Thus said the man who knew beyond a shadow of doubt that Iraq was the most imminent threat to the US since the Soviet Union.

And just like the experts said that gas wouldn't go over $3 too.

[Purge]

Thus said the man who knew beyond a shadow of doubt that Iraq was the most imminent threat to the US since the Soviet Union.

And just like the experts said that gas wouldn't go over $3 too.

Exactly. I'm thinking of selling my stocks soon while the getting is still good.....enough.

[MaximusIncredulous]

Bush is buying time with BS so he can cover his ass and split before his 8 years of messmaking really kick in and someone MIGHT figure out who's responsible.

[Terran]

Last year during the winter I said oil will be around 4$ by summer....so I was a year off in my prediction....not too bad...so now itll be like 4-5$ this summer....sweet....


There are actually some people who say that oil will drop back down in price to about 50-70$ a barrel but I dont think that has much of any chance of happening....


I think its pretty clear we have hit peak oil production....things will continue to get worse....It will take a bit of time before this increase in fuel price starts really effecting the market though...

I was reading some article that currently truck drivers (not the the truck companies themselves) are eating the additional cost of fuel these days. So a truck driver gets paid $900 bucks to drive from A to B....but it costs 800$ in fuel...so the truck driver makes $100 ... So once these costs get too high we will see the price of everything really start to increase...Literally the price of everything

[mista_mo]

The price of everything is raising a little bit up here. I have no idea if it is from the rising cost of crude oil though.

Shipping costs for items would increase if the oil price rises high enough, as the cost of diesel would sky rocket, resulting on more strain on the trucking companies, and the drivers themselves. To offset this, wouldn't it be feasible to raise prices on the goods that are shipped?

I'm not making a statement, just asking a question to those who are more knowledgable about economics then I am.

I think I may make a new thread actually...

[Neil]

[QUOTE=Terran;134561]Last year during the winter I said oil will be around 4$ by summer....so I was a year off in my prediction....not too bad...so now itll be like 4-5$ this summer....sweet....[quote]

And there's us (in the UK) paying well well over $10 now!

[Terran]

And there's us (in the UK) paying well well over $10 now!

If it was that expensive here(USA) it would have serious consquences I think...so much land mass to ship products across...and not all the fuel use is to actually move the products....refridgerated trucks burn diesal constantly just to keep stuff cold/cool...

Also the majority of our cities are designed around the use of the car...The suburbs essentially only exist because of the cheap supply of oil allowed them to develop....the UK has much better developed/implemented mass transport system (or at least I read that somewhere)....Theres essentially nothing within walking distance of my house (that is if I want to buy things and bring them home with me)....The bus system is unreliable and infrequent...the metro trains are practically only useful if you want to get to the capital and even then you have to find a way to get to the metro train stops (taxi/bus/car) ...and a taxi you run the same probelm with gas prices....

Im seriously considering buying a scooter ....