Stopped by to say good bye.....

[HUMMERcustoms.com/TAZ]

Orange ole Buddy sorry to hear you had to sell H2. I should say you chose to sell. I know you could have continued to run the rig if you wanted to.

Just wait a little while and you can buy a newer model for what you sold the 03 for. Orange you come back and check in even though you are not driving H2 at the moment. You have to much valuable knowledge not to help answer questions.

Conrad II
I agree with your thoughts on fuel prices but, the idea of the resources being finite I disagree with. I'm in oil exploration but, at this moment my partners and I are drilling in proven reserve areas even though they may not have produced in 70 to 100 years ago. We go 1 mile for the same amount of production that is gotten in west Texas where they drill 2 miles. Plus sometimes we get natural gas wells only which is even better since we are near main gas trunk lines we are able to tap directly with a meter in line to record gas sold. We came up with a some plans or guide lines etc. to help us decide where we bought leases that is off the wall for say larger companies but, fits a smaller company like ours.

The oil supply is continously being replinished by decaying matter that formed the supplies we tap now. We drill and it is not unusual to find an oil zone shallow before we reach target depth. This is just a huge bonus. We have gone to places that were supposed to be pumped dry in late 1800's and early 1900's drilled new holes or just go in and clean out the old holes and if info shows drill it deeper. Anyway the holes that just get a clean out and new pump produce 20 to 50 barrels a day with a very small investment compared to drilling new hole.
There is more oil in this planet than the USA for one can ever use. There is more oil within our own borders than we can use up.

What will keep price of gas up, besides greed, is that the 2nd tier developing countries like China and next the 3rd world as of now do not have much if any oil so they will be buying anything we cut back on. So we use it or someone else will. The future price of oil and gas will be determined by 2nd and 3rd tier countries not by our oil habits. Yes mentally our actions can cause markets to fluctuate but, the main trend is up.

Do not get me wrong I believe in getting off the need of oil from people who hate us. We have all the oil in our country we could need for 100 years and if we are all still here we will have developed process's that will stretch that figure who knows by how much.

Well my 2 cents worth and hope Orange will continue to visit.

TAZ

[HummBob]

Originally Posted by 2-H2's

I'm currently working in the UK...gas is $1.19 per liter

Good luck!!!

I thought it would be MORE???

We're at $1.27 Liter in Canada???

[RCKSTR]

Thats what I said. Im in BC, Paying $1.40 a litre, I think he maybe meant pounds instead of dollars?

[OrangeCrush]

Thanks all, I appreciate it. Like I said, this has always been a cool place to get info and just bs.


Like ya said Taz, I didn't HAVE to sell the H2, I only owe for a year and a half on it.... I could have just paid it off. In fact, many times I made the comment that once I paid it off, I'd let the damn thing sit there rather than sell it.

Between gas prices, extra payments and the fact that it had 103K miles on it, I just figured it was time. I bought my wife a new Jeep (painted it pink already), a new mini cooper for me, and between my Harley payments and existing car loan, I'm paying 2500 bucks a month in car payments. It was just time to lighten the load, no big deal but between insurance and gas and truck payment, I knocked off a grand a month easy.


And as far as the gas price issue, I realize that we are sitting on a TON of oil (processed and still in the ground) but for the poster that said he wouldn't be surprised that gas comes down to .50 a gallon by Nov.... that's naive.

It may drop over the next year a bit (I doubt it we'll ever see 2.00 again) but in the next 2-3 years, it'll only go up.

Good luck everyone, I'll check in time to time.

Mark

[Tex_h2]

I don;t know about everyone else...but gas has been slowly lowering here in texas. Yesterday, I saw as low as 3.30. And a week or so ago, two gas stations in Houston had a gas war....prices drop to a low price of 2.10.....last threw out the day....

[BigKofJustice]

Fuel prices will go in cycles. Theres plenty of oil out there, the oil companies don't wish to cut their own hands off by adding more capacity to lower prices, so they'll tow the "peak oil" line by the enviros because it suits their bottom line.

Oil prices rise and fall, as the US dollar gets stronger, oil prices will fall, thats the real cause of high oil prices, google petrodollar, the whole world trades oil with US Dollars and it really hurts them to covert back and forth because of the lousy exchange rate.

Besides, the way the automakers are acting, there will be a large portion of electric plug and drive, and plug in hybrids in a few years, that's going to drive oil prices down big time. The oil companies and opec need to watch what they're doing, because they'll price themselves out of existence.

TAZ is right on the money, I have many relatives in oil exploration in Alberta and Newfoundland up in Canada, and theres many old wells they are "dry" that get capped, only to open up again a few years later when the price per barrel is up. Go figure.

I went on a business trip for 2 week and I when I got back diesel dropped by 70 cents a gallon in some places in LA, and it's still falling.

[MarineHawk]

Originally Posted by OrangeCrush

The bit about 9-10 dollars a gallon is supposed speculation by the "experts".

Even if they are wrong, one thing is for sure... gas WILL go up. It may not hit 9-10 but I assure you the 2-3 per gallon days will be gone before long.

No, oil and gas WILL fall. The smart "experts" think so. E.g., http://finance.yahoo.com/expert/article/yourlife/98378
It's already HAPPENING.

Oil has fallen from $148 to $110 in some markets in a few weeks. The bubble is bursting. A lot of "experts" convinced a lot of people (not me) in 1999-2000 that the Nasdaq would just keep going up. Didn't happen. Won't with oil either. I know there is increased demand, etc. But 12 years ago, oil was 1/12th of the $148 high. There is not that much demand now. For example, in the same period, China's demand has grown about 70%--not 1,200%.

[OrangeCrush]

Originally Posted by MarineHawk

No, oil and gas WILL fall. The smart "experts" think so. E.g., http://finance.yahoo.com/expert/article/yourlife/98378
It's already HAPPENING.

What I meant is as a whole, gas prices will go up. They may drop to 2.75 (example) a gallon according to your expert but it will eventually go up through the natural progression of the economy.

When I was younger, gas was less than a buck for a gallon. It has NEVER gone down.... sure it has it's spikes and drops but inflation will keep pushing it up.

What I'm saying is even if gas was to drop for example to 2.75, inflation will make the price rise and soon it will be 3 or 4 dollars a gallon.

Come back to this thread and tell me when gas hits and stays at 2 bucks a gallon. It'll never happen....

For the quantity of oil we have stockpiled in this country, gas shouldn't be over 2 bucks a gallon.

Anyway, it wasn't just the gas, it was the 2500 in car payments, the 103K miles, etc, etc.

Tim, (ttkresurfacing) on this forum is a good friend of mine. He has a little bit more mileage than I do and he hasn't had the best of luck keeping his truck running. Every week it's something. I just figured while my truck was in next to perfect shape, I'd let it go before I started to have problems.

Mark

[peppers&eggs]

Gas does have it ups and downs and these H2's aren't known for its MPG's. I do agree that it can get expensive to fill the tank when gas is in the $3.50-$4.00 range. This is my alternative to the high prices. It is a 2003 Aprilia
SR50. It takes $5.00 to fill the tank with 93 octane and gets anywhere from 75-100 miles to the tank. With me only being 150 lbs, it will cruise between 40-50 MPH with ease. Weather pending, I take it to work everyday and anywhere I have to go that doesn't involve taking the highway. It was a great $900.00 invenstment to help with the gas crunch cause there is no way I am getting rid of my Hummer.

[HummerJim]

Summer is over, the kids are in school, vacation driving season is over, and regular gas is selling for $3.35 at the Quick Stop on hwy 70 last night in MO - should we be surprised? E 85 ethanol was selling for $2.55 a gallon.

[Boss Hoss]

Mark it was good having you on the board. Looks like most who contributed to this board are gone as well, thus the board. Best of luck with your future endeavors/toys!

[MarineHawk]

Originally Posted by OrangeCrush

What I meant is as a whole, gas prices will go up. They may drop to 2.75 (example) a gallon according to your expert but it will eventually go up through the natural progression of the economy.

When I was younger, gas was less than a buck for a gallon. It has NEVER gone down.... sure it has it's spikes and drops but inflation will keep pushing it up.

What I'm saying is even if gas was to drop for example to 2.75, inflation will make the price rise and soon it will be 3 or 4 dollars a gallon.

Come back to this thread and tell me when gas hits and stays at 2 bucks a gallon. It'll never happen....

For the quantity of oil we have stockpiled in this country, gas shouldn't be over 2 bucks a gallon.

Anyway, it wasn't just the gas, it was the 2500 in car payments, the 103K miles, etc, etc.

Tim, (ttkresurfacing) on this forum is a good friend of mine. He has a little bit more mileage than I do and he hasn't had the best of luck keeping his truck running. Every week it's something. I just figured while my truck was in next to perfect shape, I'd let it go before I started to have problems.

Mark

I'm not saying you shouldn't wimp out and sell (just kidding), but the ONLY thing that could possibly matter is the price of gas relative to inflation. It's fairly high now, but, if, hypothetically, it dropped to $2.75 (and never got below $2.00) and stayed below $3.00 for a long time, it would be way cheaper than it was, in real terms, in 1980--because, by then, $2.75 will be worth a lot less. http://static.seekingalpha.com/uploa...0080620_38.png

For example:

In 1970, a gallon of gas was $0.36, but an average new car cost only $3,900. http://www.elcovaforums.com/forums/n...reply&p=491350
A pretty expensive car was, like $6K.

Can you imagine, in 1970, being told that you would have to pay $25K for a Ford Taurus? A new house cost less than that--$23.4K. A king sized bean bag chair was only $19.99 (wait, never mind, that's about the same as now thanks to Wal Mart and China).

In 1980, a gallon of gas had skyrocketed (sound familiar) to $1.19, and by 1981, it was up to about $1.35 ($3.17 in today's dollars), and by 1989 it was still only 97 cents. http://www.thepeoplehistory.com/1980s.html

By 1999, gas was all of the way up to $1.22. http://www.inflationdata.com/inflati...line_price.jpg
In 1981, if you had told someone that, 18 years later, gas prices, which had spiked so sharply (tripled in a short time), would actually be be LOWER (actually less than half the price in inflation-adjusted cost), everyone would have thought you were crazy.

The same may be true now. There is a bubble. It is starting to burst. Gas may be much cheaper ten years from now. Who knows? I think it will be.