In two years Gasoline to hit $7 per gallon
06-26-2008, 11:03 AM
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E-ZGO 53hp., 1999 E 430 sport, 2004 E 55, 2008 Tahoe LTZ on 24"s
In two years Gasoline to hit $7 per gallon
in two years Gasoline to hit $7 per gallon
NEW YORK, June 26 /PRNewswire-FirstCall/ - CIBC (CM: TSX; NYSE) - Gas prices will soon hit $7 per gallon and that will make driving a car too expensive for millions of Americans, taking an unprecedented 10 million vehicles off U.S. roads over the next four years and dealing another body blow to the reeling auto sector, finds a new energy report from CIBC World Markets.
I am all for less traffic, The sooner the better
The down side to this is that the regular Joe with a new car and full insurance now, will be moved in to the 5 year old car with no Insurance group in the near future.
The $1000. throwaway car with no insurance will become much more prevalent. Fewer people insured means our premium goes up.
So guys make sure you have the best possible uninsured motorist insurance you can get.
NEW YORK, June 26 /PRNewswire-FirstCall/ - CIBC (CM: TSX; NYSE) - Gas prices will soon hit $7 per gallon and that will make driving a car too expensive for millions of Americans, taking an unprecedented 10 million vehicles off U.S. roads over the next four years and dealing another body blow to the reeling auto sector, finds a new energy report from CIBC World Markets.
I am all for less traffic, The sooner the better
The down side to this is that the regular Joe with a new car and full insurance now, will be moved in to the 5 year old car with no Insurance group in the near future.
The $1000. throwaway car with no insurance will become much more prevalent. Fewer people insured means our premium goes up.
So guys make sure you have the best possible uninsured motorist insurance you can get.
06-26-2008, 11:30 AM
#2
in two years Gasoline to hit $7 per gallon
NEW YORK, June 26 /PRNewswire-FirstCall/ - CIBC (CM: TSX; NYSE) - Gas prices will soon hit $7 per gallon and that will make driving a car too expensive for millions of Americans, taking an unprecedented 10 million vehicles off U.S. roads over the next four years and dealing another body blow to the reeling auto sector, finds a new energy report from CIBC World Markets.
I am all for less traffic, The sooner the better
The down side........
NEW YORK, June 26 /PRNewswire-FirstCall/ - CIBC (CM: TSX; NYSE) - Gas prices will soon hit $7 per gallon and that will make driving a car too expensive for millions of Americans, taking an unprecedented 10 million vehicles off U.S. roads over the next four years and dealing another body blow to the reeling auto sector, finds a new energy report from CIBC World Markets.
I am all for less traffic, The sooner the better
The down side........
06-26-2008, 11:32 AM
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2003 E55 & 2014 GL550
I feel like putting a huge sign in the back of my QX56
In the time that it took for you to read this sign and make snippy comments about how we must be hurting having to fill this gas guzzler, I just made enough money to fill the tank again. Have a nice day.
In the time that it took for you to read this sign and make snippy comments about how we must be hurting having to fill this gas guzzler, I just made enough money to fill the tank again. Have a nice day.
Last edited by Jakpro1; 06-26-2008 at 11:58 AM. Reason: Edit***blew off too much steam and got too political
06-26-2008, 11:53 AM
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2006 CLS55 AMG; 2006 Infiniti FX45;
in two years Gasoline to hit $7 per gallon
NEW YORK, June 26 /PRNewswire-FirstCall/ - CIBC (CM: TSX; NYSE) - Gas prices will soon hit $7 per gallon and that will make driving a car too expensive for millions of Americans, taking an unprecedented 10 million vehicles off U.S. roads over the next four years and dealing another body blow to the reeling auto sector, finds a new energy report from CIBC World Markets.
I am all for less traffic, The sooner the better
The down side to this is that the regular Joe with a new car and full insurance now, will be moved in to the 5 year old car with no Insurance group in the near future.
The $1000. throwaway car with no insurance will become much more prevalent. Fewer people insured means our premium goes up.
So guys make sure you have the best possible uninsured motorist insurance you can get.
NEW YORK, June 26 /PRNewswire-FirstCall/ - CIBC (CM: TSX; NYSE) - Gas prices will soon hit $7 per gallon and that will make driving a car too expensive for millions of Americans, taking an unprecedented 10 million vehicles off U.S. roads over the next four years and dealing another body blow to the reeling auto sector, finds a new energy report from CIBC World Markets.
I am all for less traffic, The sooner the better
The down side to this is that the regular Joe with a new car and full insurance now, will be moved in to the 5 year old car with no Insurance group in the near future.
The $1000. throwaway car with no insurance will become much more prevalent. Fewer people insured means our premium goes up.
So guys make sure you have the best possible uninsured motorist insurance you can get.
Last edited by von32897; 06-26-2008 at 01:12 PM.
06-26-2008, 12:08 PM
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$7 a gallon gas would be a minor inconvenience to me, if I noticed it at all, but the gigantic reduction in traffic I have to sit in daily would be a welcome change. Personally, if I could pay an extra $50/wk to cut my commute times substantially, I would do it in a heartbeat.
Not to mention that, at least here in FL, my uninsured motorist coverage is already sky-high because we have no state inspections where you have to present your registration and insurance annually. There have got to be a million (literally) uninsured drivers in this state, and nobody does anything about it. I have been in 5 accidents in the last 10 years, and 4 of them weren't my fault. ALL FOUR times, it was some stupid idiot in a hooptie that smashed into me, and 3 out of the 4 times they were uninsured. What did the responding officers do? Write them a ticket for $85, and leave me to raise my own rates by making a claim, or get raped by paying for repairs out of pocket.
Personally, I would also be happy to see them get priced out of the market, so to speak.
Not to mention that, at least here in FL, my uninsured motorist coverage is already sky-high because we have no state inspections where you have to present your registration and insurance annually. There have got to be a million (literally) uninsured drivers in this state, and nobody does anything about it. I have been in 5 accidents in the last 10 years, and 4 of them weren't my fault. ALL FOUR times, it was some stupid idiot in a hooptie that smashed into me, and 3 out of the 4 times they were uninsured. What did the responding officers do? Write them a ticket for $85, and leave me to raise my own rates by making a claim, or get raped by paying for repairs out of pocket.
Personally, I would also be happy to see them get priced out of the market, so to speak.
Last edited by CWW; 06-26-2008 at 12:11 PM.
06-26-2008, 12:21 PM
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1991 350SDL 2004 G500
You hit upon a point that i've always said. Theres nothing wrong with SUV's... at least there was nothing wrong with them until Ford and the other Detrior mongers got their hands on them, dumbed them down for the general public, and then sold millions of pieces of crap.
06-26-2008, 12:32 PM
#7
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Yacht Master,
While I appreciate some of your arguement as for the reduction in people on the road - the trickle down effects of high gas prices are what will cause problems beyond just higher prices - business will be unable to operate, period. You've already seen it in some European countries - fisherman, trucking companies, etc - the working class does not have the buffer for higher gas prices like the upper class does, and the ramifications of this throughout the economy will be much more adverse than simply having less traffic congestion.
-m
While I appreciate some of your arguement as for the reduction in people on the road - the trickle down effects of high gas prices are what will cause problems beyond just higher prices - business will be unable to operate, period. You've already seen it in some European countries - fisherman, trucking companies, etc - the working class does not have the buffer for higher gas prices like the upper class does, and the ramifications of this throughout the economy will be much more adverse than simply having less traffic congestion.
-m
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06-26-2008, 01:10 PM
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Yacht Master,
While I appreciate some of your arguement as for the reduction in people on the road - the trickle down effects of high gas prices are what will cause problems beyond just higher prices - business will be unable to operate, period. You've already seen it in some European countries - fisherman, trucking companies, etc - the working class does not have the buffer for higher gas prices like the upper class does, and the ramifications of this throughout the economy will be much more adverse than simply having less traffic congestion.
-m
While I appreciate some of your arguement as for the reduction in people on the road - the trickle down effects of high gas prices are what will cause problems beyond just higher prices - business will be unable to operate, period. You've already seen it in some European countries - fisherman, trucking companies, etc - the working class does not have the buffer for higher gas prices like the upper class does, and the ramifications of this throughout the economy will be much more adverse than simply having less traffic congestion.
-m
also, some forecasters say that it might hit $170 this year...
06-26-2008, 01:14 PM
#9
Out Of Control!!
You crack me up Jim!
06-26-2008, 02:27 PM
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06-26-2008, 02:33 PM
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Yacht Master,
While I appreciate some of your arguement as for the reduction in people on the road - the trickle down effects of high gas prices are what will cause problems beyond just higher prices - business will be unable to operate, period. You've already seen it in some European countries - fisherman, trucking companies, etc - the working class does not have the buffer for higher gas prices like the upper class does, and the ramifications of this throughout the economy will be much more adverse than simply having less traffic congestion.
-m
While I appreciate some of your arguement as for the reduction in people on the road - the trickle down effects of high gas prices are what will cause problems beyond just higher prices - business will be unable to operate, period. You've already seen it in some European countries - fisherman, trucking companies, etc - the working class does not have the buffer for higher gas prices like the upper class does, and the ramifications of this throughout the economy will be much more adverse than simply having less traffic congestion.
-m
06-26-2008, 03:05 PM
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SL65 VRP1000 and 20" Monolites
I hope it goes a lot higher than $7/gal
Of course I'm in the oil business... :-)
But, one other side note, talking about rising insurance costs due to ppl slacking on their insurance, and people buying older, smaller cars, just makes me feel that much SAFER..
Think about it.. My daily driver is a Chevy Silverado CrewCab 3/4t 4x4 Duramax.
When the road is less congested, and that congestion is these mini cars that I've been seeing lately, or even the Toyota Prius types... I'm in the safest vehicle on the road.
If there is an accident, who (and who's family) will be able to walk away, and who will be incapacitated...Me and the big SUVs, or these mini-eco car types.
Let the prices rise!!!
But, one other side note, talking about rising insurance costs due to ppl slacking on their insurance, and people buying older, smaller cars, just makes me feel that much SAFER..
Think about it.. My daily driver is a Chevy Silverado CrewCab 3/4t 4x4 Duramax.
When the road is less congested, and that congestion is these mini cars that I've been seeing lately, or even the Toyota Prius types... I'm in the safest vehicle on the road.
If there is an accident, who (and who's family) will be able to walk away, and who will be incapacitated...Me and the big SUVs, or these mini-eco car types.
Let the prices rise!!!
06-26-2008, 03:23 PM
#15
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$7 a gallon gas would be a minor inconvenience to me, if I noticed it at all, but the gigantic reduction in traffic I have to sit in daily would be a welcome change. Personally, if I could pay an extra $50/wk to cut my commute times substantially, I would do it in a heartbeat.
Not to mention that, at least here in FL, my uninsured motorist coverage is already sky-high because we have no state inspections where you have to present your registration and insurance annually. There have got to be a million (literally) uninsured drivers in this state, and nobody does anything about it. I have been in 5 accidents in the last 10 years, and 4 of them weren't my fault. ALL FOUR times, it was some stupid idiot in a hooptie that smashed into me, and 3 out of the 4 times they were uninsured. What did the responding officers do? Write them a ticket for $85, and leave me to raise my own rates by making a claim, or get raped by paying for repairs out of pocket.
Personally, I would also be happy to see them get priced out of the market, so to speak.
Not to mention that, at least here in FL, my uninsured motorist coverage is already sky-high because we have no state inspections where you have to present your registration and insurance annually. There have got to be a million (literally) uninsured drivers in this state, and nobody does anything about it. I have been in 5 accidents in the last 10 years, and 4 of them weren't my fault. ALL FOUR times, it was some stupid idiot in a hooptie that smashed into me, and 3 out of the 4 times they were uninsured. What did the responding officers do? Write them a ticket for $85, and leave me to raise my own rates by making a claim, or get raped by paying for repairs out of pocket.
Personally, I would also be happy to see them get priced out of the market, so to speak.
06-26-2008, 04:18 PM
#17
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Yacht Master,
While I appreciate some of your arguement as for the reduction in people on the road - the trickle down effects of high gas prices are what will cause problems beyond just higher prices - business will be unable to operate, period. You've already seen it in some European countries - fisherman, trucking companies, etc - the working class does not have the buffer for higher gas prices like the upper class does, and the ramifications of this throughout the economy will be much more adverse than simply having less traffic congestion.
-m
While I appreciate some of your arguement as for the reduction in people on the road - the trickle down effects of high gas prices are what will cause problems beyond just higher prices - business will be unable to operate, period. You've already seen it in some European countries - fisherman, trucking companies, etc - the working class does not have the buffer for higher gas prices like the upper class does, and the ramifications of this throughout the economy will be much more adverse than simply having less traffic congestion.
-m
But that is the bed we made. Our dependence on foreign oil is our achilles heel. We can be as green as we want to be, the short term effect will be negligible. The long term and difficult solution will have to involve compromise between the green and the rest of us...alternative(s) to fuel, less consumption, and drilling our own supply.
It's still going to be a biatch to get everyone to even consider a compromise...the only way a change is going to happen is if fuel prices keeps going up and more jobs are lost (ex. 900 United pilots layed off).
06-26-2008, 04:33 PM
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What does the Uninsured Motorist Property Damage pay for?
06-26-2008, 04:40 PM
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I'd still rather they just clamp down on uninsured motorists around here, though, and then I wouldn't have to worry about it. Lol.
06-26-2008, 09:49 PM
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06-26-2008, 10:59 PM
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'06 E55, '05 SLK55, a few others
I'm with ya man. I bought a new Tahoe LTZ a few months ago and I really like the truck. It's better than the "old" Yukon it replaced and averages a whopping 15.5 mpg, 20-30% better than the Yukon. I would not be overly concerned if the mileage was 20-30% worse
$7 a gallon gas would be a minor inconvenience to me, if I noticed it at all, but the gigantic reduction in traffic I have to sit in daily would be a welcome change. Personally, if I could pay an extra $50/wk to cut my commute times substantially, I would do it in a heartbeat.
Not to mention that, at least here in FL, my uninsured motorist coverage is already sky-high because we have no state inspections where you have to present your registration and insurance annually. There have got to be a million (literally) uninsured drivers in this state, and nobody does anything about it. I have been in 5 accidents in the last 10 years, and 4 of them weren't my fault. ALL FOUR times, it was some stupid idiot in a hooptie that smashed into me, and 3 out of the 4 times they were uninsured. What did the responding officers do? Write them a ticket for $85, and leave me to raise my own rates by making a claim, or get raped by paying for repairs out of pocket.
Personally, I would also be happy to see them get priced out of the market, so to speak.
Not to mention that, at least here in FL, my uninsured motorist coverage is already sky-high because we have no state inspections where you have to present your registration and insurance annually. There have got to be a million (literally) uninsured drivers in this state, and nobody does anything about it. I have been in 5 accidents in the last 10 years, and 4 of them weren't my fault. ALL FOUR times, it was some stupid idiot in a hooptie that smashed into me, and 3 out of the 4 times they were uninsured. What did the responding officers do? Write them a ticket for $85, and leave me to raise my own rates by making a claim, or get raped by paying for repairs out of pocket.
Personally, I would also be happy to see them get priced out of the market, so to speak.
2. Uninsured motorists should be arrested.
3. Priced out of the market? We couldn't be that lucky.
06-27-2008, 02:28 AM
#23
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I don't mind the gas price hike in my personal vehicle(s). That's the price you pay, but the price of everything else that uses fuel to transport or ship goods or people will increase, too.
But that is the bed we made. Our dependence on foreign oil is our achilles heel. We can be as green as we want to be, the short term effect will be negligible. The long term and difficult solution will have to involve compromise between the green and the rest of us...alternative(s) to fuel, less consumption, and drilling our own supply.
It's still going to be a biatch to get everyone to even consider a compromise...the only way a change is going to happen is if fuel prices keeps going up and more jobs are lost (ex. 900 United pilots layed off).
But that is the bed we made. Our dependence on foreign oil is our achilles heel. We can be as green as we want to be, the short term effect will be negligible. The long term and difficult solution will have to involve compromise between the green and the rest of us...alternative(s) to fuel, less consumption, and drilling our own supply.
It's still going to be a biatch to get everyone to even consider a compromise...the only way a change is going to happen is if fuel prices keeps going up and more jobs are lost (ex. 900 United pilots layed off).
In my opinion, what seems to be occurring is with the amount of investment capital (from Sovereign Wealth Funds to Pensions and Investment Banks) that exists in today's markets and the way it is diversified will target investments, whether they be real estate or crude oil (for example) that can satisfy the returns they are looking for, regardless of the macro and micro economic effects. What's dangerous is that they have the financial power to manipulate even markets like crude oil which is the most highly traded commodity in the world. Now I am NOT saying that speculation and investment is the only cause, I am saying that if you look at the amount of capital invested in the crude oil commodities today versus even 2-3 years ago, the difference is staggering.
I could go on and on about this, but I will not try to lecture too much.
-m
Last edited by Marcus Frost; 06-27-2008 at 01:53 PM.
06-27-2008, 12:58 PM
#25
Matt simmons the leading Oil investment banker is almost always dead on and his prediction is $15/gallon before end of next year. This is precisely why I modify for efficiency and not for raw power. All my mods will pay themselves off in efficiency.
