$90 oil won't kill the bull

Quote from nampooya:

England has rail,bus systems that take care of poor.We have wide open spaces,two/three cars per .We also go to starbucks alone in our trailer sized rigs.
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US oil consumption in 2004 was more than 20 million barrels a day. UK was just 1.8 million.
 
Quote from Bowgett:

In UK gas costs $5.64/Gallon and guess what they are just fine.
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More than half of it is tax, so that money is economically 'neutral'.

Doubling prices will always affect the economy. The longer it doesn't the deeper the fall when it does.
 
Quote from stock_trad3r:
There is going to be a ton of media hype when oil passes 100 but it will have no impact on stocks.
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Except for oil stocks, they will go through the roof :D
 
Yea thats probably true


Also there is no srong positive corellation between rising oil and rising gas prices. Gas is still in the high 2's while oil has surged.

Even if oil hits 150 will gas prices shoot to $5? Um probably not.

And if gas goes to $4 will it be a dissaster? No it won't/ The American consumer will keep on spending, the dow will keep going higher, and all will be good. The europeans are accustomed to paying a lot for gas and so are Americans.
 
That is just nut job with oil around 100 and gas is still around 2 to 3 dollar a gallon; when did refineries become an charity organization?
 
Quote from brokerboy:

Your nuts if it doubled it would be a major problem. You’re talking 7 bucks a gallon. I think it would crush the economy. They would torch the white house at that point. All your food would go up 25% at least. The wages of US poor and middle class are not growing. Around the world it would be alot worse.
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Absolutely. Just one example: transportation costs would skyrocket on the trucking side. Trucking is already struggling in many ways as an industry. Rail is actually doing very well and projected to do even better as fuel costs skyrocket because it can transport 3X the load for a given amount of fuel compared to trucking...
 
Quote from number22:

That is just nut job with oil around 100 and gas is still around 2 to 3 dollar a gallon; when did refineries become an charity organization?
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The price of oil is only about 55% of the cost of the cost of a gallon of gas. From what I've read, there's not a huge correlation to any one aspect of the industry...
 
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