warpedskydiver 0 #51 October 23, 2008 You are obviously still being deluded into thinking there is a good side and a bad side. They are both on the same team that is playing against the people. Quote Share this post Link to post Share on other sites
kelpdiver 2 #52 October 23, 2008 QuoteYou are obviously still being deluded into thinking there is a good side and a bad side. They are both on the same team that is playing against the people. that's irrelevant - gas won't be $7 next summer. Quote Share this post Link to post Share on other sites
billvon 2,998 #53 October 23, 2008 >sorry guys, ain't going to happen. (the $7 gas, not the Obama victory) Agreed. The coming recession will result in reduced demand for everything, including oil. Quote Share this post Link to post Share on other sites
headoverheels 333 #54 October 23, 2008 QuoteQuoteYou are obviously still being deluded into thinking there is a good side and a bad side. They are both on the same team that is playing against the people. that's irrelevant - gas won't be $7 next summer. I'm still predicting $5/gal in 2010, just as I was in 2005. China and India are coming online as consumers big time, and world demand will put the price there. Quote Share this post Link to post Share on other sites
kelpdiver 2 #55 October 23, 2008 Quote I'm still predicting $5/gal in 2010, just as I was in 2005. China and India are coming online as consumers big time, and world demand will put the price there. Their consumers can't afford $5. Much of the growth expected in China/India was based on much cheaper gas. US consumption is falling and will continue to fall slightly, even without leadership from Washington. It was also seen in the late 70s, the last time there was a substantial gas shock. Took years for demand to get back to where it peaked. Also, I believe that the sellers are very cautious to treat consumers as the frogs in the pot - have to raise the temperature slowly. Look how pissed Americans got with $4 gas. As a result, the Big 3 are all at risk of bankruptcy. What will they do with $5, or esp $7 next year? Europeans may be used to that price, but we're not. There's of course the concern that Americans will get comfortable again as gas is trending below $3, but I think that affects current usage more than purchases. The large SUVs aren't coming back. People will drive the ones they have, but they're not going to commit $40k to a new vehicle getting 15mpg unless they have real need, rather than a desire to look big driving to work alone in the rough weather of LA. Quote Share this post Link to post Share on other sites
