My thoughts on the oil crisis

[festus]

Here is a solution to the Oil Crisis...
Problem: OPEC sells oil for $141.74 a barrel yesterday.
Problem: OPEC nations buy U.S. grain at $7 to $10 a bushel.
Solution: Sell grain for $100 a bushel.

Can't afford it?
Tough Nuts!
Eat your oil!
Then, maybe oil prices will come down to a reasonable figure again.

Hunger is a powerful motivator!

[HK4U]

Works for me. If we quit giving away every thing to the rest of the world we would be better off. After we do that lests start drilling our own oil. I still think we still have a lot right here.

[bplv]

Then they'll just buy grain from somewhere else.

Free market - Wikipedia, the free encyclopedia

[HK4U]

Then they'll just buy grain from somewhere else.

Free market - Wikipedia, the free encyclopedia

Good. Then we can keep it here and feed our own people.

[kwo51]

Lets make Jim Bean wiskey and run our cars happy.

[toreskha]

Here is a solution to the Oil Crisis...
Problem: OPEC sells oil for $141.74 a barrel yesterday.
Problem: OPEC nations buy U.S. grain at $7 to $10 a bushel.
Solution: Sell grain for $100 a bushel.

Can't afford it?
Tough Nuts!
Eat your oil!
Then, maybe oil prices will come down to a reasonable figure again.

Hunger is a powerful motivator!

OPEC really doesn't have the ability to dial down the price of oil. It is mostly demand-driven and controlled by the market, although there are other contributing factors as well, like our weak dollar. If the Fed would raise interest rates, it would help to prevent inflation that might cause the price of oil to get even worse. Once demand maxes out supply, every 1% increase in demand causes a disproportionate increase in price, so things only get worse from there. We will probably not return for a while to the point of having any extra capacity in the system like we once did. Now if there's one hiccup, it's like getting kicked in the head.

We could see $7/gallon in two years. Now would be a good time to get a professional license (insurance, real estate, etc) of some sort to provide extra income, cancel any unnecessary bills, and start saving money like a squirrel headed for winter.

[MP3Mogul]

Here is a solution to the Oil Crisis...
Problem: OPEC sells oil for $141.74 a barrel yesterday.
Problem: OPEC nations buy U.S. grain at $7 to $10 a bushel.
Solution: Sell grain for $100 a bushel.

Can't afford it?
Tough Nuts!
Eat your oil!
Then, maybe oil prices will come down to a reasonable figure again.

Hunger is a powerful motivator!

Festus,

This has long been my concensus. Also, mark everything up. They like our Levi brand named jeans, make them 400.00 per pair. It applies to everything... Gas would drop the next day.

[ishi]

There's really nothing to be done about this. Drilling in the US will make some companies rich, but will not effect the global market enough to bring prices down at all. Now, if we created a nationalized industry to drill, extract and refine US oil, and made that exclusively available in the US, that would be different. But OPEC would cry foul and kick us in the teeth.

So we'll just have to tighten our belts and get more efficient. Demand increases, production flatlines, prices go up.

I'm buying a scooter.

[festus]

There's really nothing to be done about this. Drilling in the US will make some companies rich, but will not effect the global market enough to bring prices down at all. Now, if we created a nationalized industry to drill, extract and refine US oil, and made that exclusively available in the US, that would be different. But OPEC would cry foul and kick us in the teeth.

So we'll just have to tighten our belts and get more efficient. Demand increases, production flatlines, prices go up.

I'm buying a scooter.

Drilling in the US will not only provide oil but jobs. Roughnecks, truckers, steel economic stimulus via more money = more toys.

[LiquidG]

Here is a solution to the Oil Crisis...
Problem: OPEC sells oil for $141.74 a barrel yesterday.
Problem: OPEC nations buy U.S. grain at $7 to $10 a bushel.
Solution: Sell grain for $100 a bushel.

Can't afford it?
Tough Nuts!
Eat your oil!
Then, maybe oil prices will come down to a reasonable figure again.

Hunger is a powerful motivator!

Supply and demand - Wikipedia, the free encyclopedia

We got ourselves into this mess when more than half the country decided they all needed SUVS or trucks when they could of gotten along just fine with a car. You had every soccer mom in America with a 15mpg fullsize 4WD SUV when they could have gotten a more effecient minivan. Fastforward a couple years and now the hybrids and compacts that used to be a trendy niche market is steadily becoming big seller. Of course there are other factors then just the truck/suv fad, but we sure didnt help the situation. Drilling in the U.S. isnt gonna fix the problem either, its only a band aid and like Ishi said it probably wont help as much as people wanna believe. We as a country need to be more effecient, take public transportation more in big cities, stop buying these gas guzzling trucks/suvs unless you absolutely need one, an invest in more alternative fuels.