as price goes up, global consumption will go down, and at some point, they should start losing money...No, our economy will crash as a result.
The pain would be worth it.
Our family budget couldn’t handle it for any extended period of time.
No. We will all cut back on all discretionary spending in order to try to put fuel in our cars and food on the table. Food prices will soar because farmers and truckers must raise their prices in order to survive. No one who drives or eats should vote for any Democrat candidates if this occurs.
The factory here in Indiana will be on turbo production.
http://automobiles.honda.com/civic-natural-gas/?ef_id=EzVPREYoSh4AAIqu:20120222013432:s
It depends, if it was American oil from American
wells bringing in 150 a barrel
it might not be too bad
We may have zero choice in the matter.
Zer0's campaign promise was high priced oil and electricity - so $150 barrel oil is just him accomplishing his goal, and placing the blame anywhere and everywhere else.
No.
We handled it in 2008. It helped usher in President Barack Obama. What will it usher in or out this time around?
After the next four years, I am very afraid we will be looking back on $5 gasoline quite fondly.
as price goes up, global consumption will go down, and at some point, they should start losing money...what all the comments don’t understand is the dynamism of the USA system. Once the commie in chief is gone and the democonnies and rino’s are fighting to retain power, the government barriers to the exploitation of our carbon will abruptly end. The only real question is how anti-american will the new political class be.
And the sad part is that very few consumers will ever consider how this all came about. They don’t seem to understand how political acts influence gasoline prices.
Folks here clamoring for 8 bucks a gallon gas or 200 bucks bbl oil are in for a shock at how quickly this country will tail spin (and how quickly our strategic reserve is DRAINED).
Buckle up, things you hold near and dear are about to become a WHOLE lot more expensive.
I hope I’m wrong, but the question may end up being “Are Americans going to have any other choice BUT to deal with $150 oil?”
Sigh. November can’t get here soon enough.
If the price of oil keeps going up like this, soon gasoline will cost nearly as much as Governor Perry’s wonderful toll roads.
As a capitalist I want to pay whatever price supply and demand dictate. I wouldn’t mind eliminating *all* gas taxes, however.
We could handle it. It would not be fun.
The takers would bitch more than the makers they live off of.
I live in an outer suburb verging upon rural, in a midsized southern metro area that is historically manufacturing-oriented. We lagged the rest of the state, which was booming by comparison, before the 2008 crash.
There are people here, now, riding scooters to work over long distances, rain or shine. I pass a good ten of them every morning during my own fairly lengthy commute.
I live in a fairly solidly middle class neighborhood, decent but not grand houses, all with over an acre, some with five or more acres. Very little turnover here, houses just seldom come up for sale, people like it here. There are two foreclosures, no for sale signs. Three of my neighbors have lost their jobs, one is going on a year and she is no slacker, she’s followed up quickly on every lead or possibly helpful contact I’ve given her, but nothing.
It won’t take much, in some places. Desperation isn’t far away for many, and I’m surprised that I’m in close proximity to it. There but for the grace of God go I, has a new level of meaning.
It’s sad and it’s draining to witness, such a slow grind down. Many people aren’t taking pride in their houses and lawns anymore, possibly because they don’t have the money to take care of things, like they once did not so long ago.
I’ve taken to equating the years into this undeclared depression with the same stage in the Great Depression, to look at the big news, the major problems that cropped up. 1933 was a bad year for many things. Four years in.
Guess where we are? Yep. I work hard to keep myself motivated, keep reminding myself that some of the largest, most successful American companies in existence began during the depression.
I’m taking up my free time creating a startup e-commerce business. Extra income if it takes off, fallback income if the job I have ends, minimal expense.
That’s my hobby now, lol.