How low will it go? (gas prices)

[micrapolis]

i mean dont get me wrong, the sooner we get off oil addiction and into sustainable transport, the better we and our children will be.

i just dont think the demand drop off in emergin markets is anything but temporary.

and also SA doesnt need to be alone in doing this, they have persuasion powers on its neighboring arab countries to follow their lead.

[Ustauk]

Saudi Arabia leads the the Organization of the Petroleum Exporting Countries (OPEC), a group of 12 states that together still produce much of the oil in the world, particularly easy to produce "sweet" crude. Canada and the US have potentially larger reserves, but they are locked up in harder to extract oil sands and shale reserves respectively. OPEC has enough combined production and volume of reserves that they can still readily manipulate prices. Higher prices favour the new reserve development in Russia, and the more expensive to develop reserves in Canada and the States. The Saudi's and other OPEC companies see both as threats to their oil dominance, so they're letting the air out of our tires by releasing fuel onto the market. And they have enough monetary and oil reserves that they will choose when to close the spigot and raise prices, not us .

[aftica]

Saw .86 yesterday! Also, read yesterday some Saudi bigwig saying he has no trouble letting oil go to $20 per!!! 'bout time someone stirred things up a bit lol!

[AlphaMicra]

I don't believe we're addicted to petroleum fuels. Even at double current prices, it can't be beat for bang-for-the-buck value and efficiency. In the winter, the waste heat is harvested, increasing the efficiency considerably. The real issue is excessive consumption. Even the 1.6L in our Micra's is more engine than is needed. It's also not necessarily the best choice in a warm climate, but our addiction to the economies of scale mean that California gets many of the same cars as Alberta.

I personally prefer bicycle travel, but cyclists are demonized for their ability to jump between pedestrian and vehicular traffic. Motorists stuck in traffic lash out at cyclists whizzing past riding the dotted white line. The militant cyclists certainly don't help.

A lot of people have abandoned the car for public transit, but that only works with high population densities. Even still, there are women who prefer to drive in order to avoid sexual harassment, illustrating the real problem is cultural and more complex than we know.

[aftica]

Broke the $.80 mark last night here in DR!

They be giving this crap away soon... should have bought a monster dually or a HellCat. LOL!
Seriously though, I hope this doesn't negatively impact electric/fuel cell or any other alternative tech in the pipe... and that coming from a certified, knuckle dragging red neck lumbersexual. Worried my manly, brothers in arms will not be able to restrain themselves though.

[MetroMPG]

Yup, my brother filled up for 0.76 a couple of days ago.

And the reports I'm reading say that sales of efficient vehicles have been declining. And thirsty ones are increasing.

[micrapolis]

Broke the $.80 mark last night here in DR!

They be giving this crap away soon... should have bought a monster dually or a HellCat. LOL!
Seriously though, I hope this doesn't negatively impact electric/fuel cell or any other alternative tech in the pipe... and that coming from a certified, knuckle dragging red neck lumbersexual. Worried my manly, brothers in arms will not be able to restrain themselves though.

it's definitely hurting hybrids. As for EV's there's been a moderate influence on mass market EV's - tesla, of course, is supply constrained , not demand constrained.

after I run my micra to the ground in 10+ years, i plan my next car to be an EV. Other than AWD and a hatch body (oh and rear wiper + defrost! thanks for spoiling me, micra), i wont need any other extras. (And of course, i expect by then that all cars have rear cameras).

i dont think fuel cells are viable for passenger cars. Maybe bigger commercial vehicles.

we live in exciting times, folks

[AlphaMicra]

Yup, my brother filled up for 0.76 a couple of days ago.

And the reports I'm reading say that sales of efficient vehicles have been declining. And thirsty ones are increasing.

Not me! With my Micra, it costs me practically nothing in gas these days; I'm reaping the benefits of the savings. I'm also glad I went for the Micra instead of the Mirage; Nissan was smart to put a bigger motor in the Micra. It's a win-win car for sure!