Study: Gas will soon be at $10/gallon

[JamesVU2000]

Our entire culture is based on unlimited cheap gasoline.

 

[Mschlau]

You forget that a major reason that gas prices are cheaper in the states than in europe is because american taxdollars go towards paying for the importantion of gas.

 

[Businessman]

If oil prices double the US will sending a trillion dollars a year abroad.

Thats a massive transfer of wealth.

The US worker is being squeezed at both ends. Wages are stagnant because jobs are going overseas and more and more of his take home pay is being sent abroad to pay for gas.

 

[Sam Mcgee]

Quote from Businessman:

If oil prices double the US will sending a trillion dollars a year abroad.

Thats a massive transfer of wealth.

The US worker is being squeezed at both ends. Wages are stagnant because jobs are going overseas and more and more of his take home pay is being sent abroad to pay for gas.

Eventually the oil prices will go high enough so that Americans will stop buying overseas oil. They'll hopefully spend that money at home to buy alternative energy. I don't know if that will happen in five years or fifty years but it has to happen for sure at some point.

 

[LT701]

Quote from makloda:

Gasoline is $8-9$ a gallon in Europe and the economy is chugging along fine. Probably not too big of a deal if it were to climb to $10 in the US.

but it's all tax that makes it's way back into the economy

if it gets that high here, it's all down a rathole

 

[Aaron Copland]

Quote from Sam Mcgee:

Eventually the oil prices will go high enough so that Americans will stop buying overseas oil. They'll hopefully spend that money at home to buy alternative energy. I don't know if that will happen in five years or fifty years but it has to happen for sure at some point.

Your right but that takes leadership something this bunch of losers in congress knows nothing about. They are bought and sold to the highest bidder.

This country would run better if 5th grade students operated the US government I’m certain of that.

It will take calamity and before congress wakes up, oh what am I saying we had that with 9-11 and our borders are still wide open.

 

[Casey30]

If you tripled Europe's gas prices to $30 a gallon, don't you think there would be some economic repercussions there? Beside, if you go from paying 80/week for gas and now pay 240/week for gas I think there are going to be substantial economic repercussions in the US. What is that, over 8k a year for one car per family. Most people couldn't handle their mortgage payment going up this amount a year let alone their fuel.

By the way, the whole energy and food complex would folllow to, compunding the problem. So if you pay 400/month for heat and electric, now you pay say 800/month. It doesn't sound pretty.

 

[achilles28]

Quote from Businessman:

If oil prices double the US will sending a trillion dollars a year abroad.

Thats a massive transfer of wealth.

The US worker is being squeezed at both ends. Wages are stagnant because jobs are going overseas and more and more of his take home pay is being sent abroad to pay for gas.

You said it.

And its not just gas - heating oil, food, cheap shit from China (that isn't so cheap anymore), energy proxies.

Everything goes through the rough and Americas discretionary income goes down the toilet.

 

[Sniemiec]

Need to...make more money, to nullify the effects of inflation on my purchasing power.

 

[Thermactor]

Quote from LT701:

but it's all tax that makes it's way back into the economy

if it gets that high here, it's all down a rathole

It goes into Lee Raymond's 300 foot yacht
And Rex Tillerson's $1B+ golden parachute