Premature "death" of big oil?
Lots of Pundits calling for the end of big oil, I for one think not, 70 million gasoline vehicles sold in the world last year, 1.2 Billion vehicles on the road and only 2.5% of them electric. I would imagine most of those folks plan to drive them at least five years or more. Estimates that even more gasoline vehicle growth next ten years. Can't imagine why they think that gasoline much less oil is finished? Haven't even heard of any electric planes replacing the fuel guzzling jets of today?
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i rather wish the USA with its proven reserves of oil and gas would conserve it so we would have some when other places are out/empty/none...but that is not free enterprise capitalism.......new forms of nuke generation of electricity are showing to be safe and efficient ....wind and solar have limits by location and weather... 0 -
I used to believe that was the plan when we imported so much from the mideast, save our oil for ourselves, but we all know greed would take over and it would be sold out of country anyway............ 0 -
Don't worry Corona virus has already put a dent in oil prices already.Less drivers means less demand so you get to eat the cake and have it too! Maybe that was the plan all along? I know none dare call it a conspiracy but have you plan your Cruise ship vacation yet with all those pesky viruses yet?
serf
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Heck Serf I wasn't planning on a floating Petri dish vacation any way. The last few years all you hear about are lots of passengers coming down with stuff like norovirus. Greenies don't like pollution from planes so how long until they complain about cruise ships? Bobserf said:Don't worry Corona virus has already put a dent in oil prices already.Less drivers means less demand so you get to eat the cake and have it too! Maybe that was the plan all along? I know none dare call it a conspiracy but have you plan your Cruise ship vacation yet with all those pesky viruses yet?
serf
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Meanwhile, we still have all that coal in the ground... 0 -
Gas is cheap here 0 -
I have been advocating this for over 20 years.hillbille said:I used to believe that was the plan when we imported so much from the mideast, save our oil for ourselves, but we all know greed would take over and it would be sold out of country anyway............
Drain the desert and it will no longer matter.0 -
Oil and gas won't go away anytime soon. 0 -
Look at any inflation calculator. A dollar in 1961 is equivalent to around $ 8.60 today.us55840 said:
Really? Wow, I recall working part time in a gas station in the 1960's and pumped tens of thousands of gallons for .30 cents a gallon. That is what I consider "cheap gas."select-fire said:Gas is cheap here
Therefore, the $ 0.30 gas you pumped in 1961 would be $ 2.58 now. When one considers that federal and local taxes are now higher, the baseline price of the gas we are buying today is actually cheaper than it was in 1961.
This makes sense, of course. We are more efficient at squeezing every gallon of gas out of a barrel of oil now than we were in 1961, and transportation is also cheaper.0 -
Not in any of the posters here lifetime. They will get a "better" electric auto but gas is here for a long time. And if I am correct we have more reserves than anyone else in the world, use them now and for decades. 0 -
Don McManus said:
Look at any inflation calculator. A dollar in 1961 is equivalent to around $ 8.60 today.us55840 said:
Really? Wow, I recall working part time in a gas station in the 1960's and pumped tens of thousands of gallons for .30 cents a gallon. That is what I consider "cheap gas."select-fire said:Gas is cheap here
Therefore, the $ 0.30 gas you pumped in 1961 would be $ 2.58 now. When one considers that federal and local taxes are now higher, the baseline price of the gas we are buying today is actually cheaper than it was in 1961.
This makes sense, of course. We are more efficient at squeezing every gallon of gas out of a barrel of oil now than we were in 1961, and transportation is also cheaper.Silver was circulating in our currency back then so a silver dollar had to be least 15.00 of today's money which buys 6 gallons of gas at 2.58 cents now, while one dollar back then would buy 4 gallons of gas. so you are right! maybe?
The one thing you fail to mention is 1.15 an hour minimum wage was back then and now it's 7.25 twice as less then it was back in 1961 and with gas wars you could purchase gas down to .20 cents all the time down here in Texas 1961. So the rich or richer and poor or poorer. and the middle class is evaporating now, https://www.titleloanser.com/stats/car-repossession-statistics/
serf
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Obama said solar energy is what we need to do away with fossil fuels Fossil fuels will no longer be needed. Yea sure.
Solar airplanes, cars, houses, lawn mowers, chainsaws.
Obama and Biden gave millions of our tax dollars to his in-laws to promote solar energy. (and they were not in Ukraine, they were in the USA. Why don't Nancy investigate that one?
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Okie said:
Obama said solar energy is what we need to do away with fossil fuels Fossil fuels will no longer be needed. Yea sure.
Solar airplanes, cars, houses, lawn mowers, chainsaws.
Obama and Biden gave millions of our tax dollars to his in-laws to promote solar energy. (and they were not in Ukraine, they were in the USA. Why don't Nancy investigate that one?
I think like 500 million went to one solar window project in CA. and not one was built BUT the money vanished and not one peep.
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The 90% quarter in circulation in 1960 has a current melt value of $ 3.19, the 90% half dollar in circulation at the time has a melt value of $ 6.39, and the Morgan dollar, not really still in circulation has a melt value of $ 13.67. Post 1964 the melt values are probably not worth the effort to extract the silver.serf said:Don McManus said:
Look at any inflation calculator. A dollar in 1961 is equivalent to around $ 8.60 today.us55840 said:
Really? Wow, I recall working part time in a gas station in the 1960's and pumped tens of thousands of gallons for .30 cents a gallon. That is what I consider "cheap gas."select-fire said:Gas is cheap here
Therefore, the $ 0.30 gas you pumped in 1961 would be $ 2.58 now. When one considers that federal and local taxes are now higher, the baseline price of the gas we are buying today is actually cheaper than it was in 1961.
This makes sense, of course. We are more efficient at squeezing every gallon of gas out of a barrel of oil now than we were in 1961, and transportation is also cheaper.Silver was circulating in our currency back then so a silver dollar had to be least 15.00 of today's money which buys 6 gallons of gas at 2.58 cents now, while one dollar back then would buy 4 gallons of gas. so you are right! maybe?
The one thing you fail to mention is 1.15 an hour minimum wage was back then and now it's 7.25 twice as less then it was back in 1961 and with gas wars you could purchase gas down to .20 cents all the time down here in Texas 1961. So the rich or richer and poor or poorer. and the middle class is evaporating now, https://www.titleloanser.com/stats/car-repossession-statistics/
serf
Your comparison, therefore is substantially correct, suggesting that in real terms, gasoline is cheaper today than it was in 1960. Artificial and unimportant manipulations such as gas wars and minimum wages obviously have no bearing on the conversation, but you are 100% incorrect with your class warfare baiting. With gasoline being demonstrable less expensive in real terms today than it was 60 years ago, the poor are obviously in a better position, because transportation costs are taking a smaller bite out of their incomes. We all benefit, of course, but the poorer one is, the more one benefits from lower pricing of necessities.0
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