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Old 04-29-2008, 05:07 PM   #1 (permalink)
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Oil $200 a barrel? Is it time to start hoarding food and ammo?

I heard on the radio that some analysts are hypothesising oil to cost $200 a barrel within two years. That would mean $10 a gallon at the pump.
Gasoline May Soon Cost a Sawbuck - April 28, 2008 - The New York Sun (here's an article I found about it)

I have no idea if this is possible but it's pretty scary.
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Old 04-29-2008, 05:10 PM   #2 (permalink)
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It's not that unthinkable. It's a depleting resource and there is nothing to replace it.
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Old 04-29-2008, 05:15 PM   #3 (permalink)
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Or, that the increase of 300+% in the past year is because of a failing dollar.

Americans (at the federal level and home) borrow too much. This makes our dollar worth less and less, and the value of oil is based against the oil.

Besides, if you dont have food (and perhaps ammo) in decent quantities for any emergency, national or personal, you arent doing your family right. Its not to hard to just stock up bit by bit and keep extra cans and boxes of easily stored dry goods on hand.

My wife and I have a great pantry, and add to it each time we go shopping. Plus, we add things on like ammo.. maybe even clothes, just to hedge against rising prices.

We dont have some warehouse, but it doesnt hurt to have an extra this or that (within reason) around.
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Old 04-29-2008, 05:22 PM   #4 (permalink)
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all depends on a varity of socio economic factors. Who are we at war with? who hates us? is the oil price still pegged to the dollar? what is the fed intrest rate, rising or falling? who is producing how much? how much are developing country's using? China, India? alternative fuels avaialble, supply, demand, reserves? rate of exchange for the dollar? fuel standards? and a ton of other factors. Some of those are constantly changing, some are moving a lot slower; but all have a role. 200 is certainly possible, 300 is even theoreticly possible given certain scenarios.
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Old 04-29-2008, 05:22 PM   #5 (permalink)
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I was flipping through the channels last night and saw the same thing. Also I guess they can covert coal to oil now, well they said hitler was doing it so its not that new of a concept. The cost to make one barrel on oil from coal is about 55 bucks. I guess the hold up is that the process creates CO2, wich doesnt seem to be a problem as the refining process for gas from what Im told uses co2. They also said that at current consumtion rates there is enough coal in montana (or was in minisota?) to last us 200 years.
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Old 04-29-2008, 05:32 PM   #6 (permalink)
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There is even more in the Grand Escalante Staircase... but that was made off limits by a previous administration...
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Old 04-29-2008, 05:32 PM   #7 (permalink)
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Here's something to ponder. Tech stocks kept getting more and more expensive until the bubble burst, and prices plummeted. Home values kept increasing more and more, until the bubble burst, and home values are now going down. Eventually oil prices will reach their peak and come back down, probably quite dramatically. Either the number of people driving more fuel efficient cars will reach a critical point (I'm diving a vehicle with double the milage of the car I was driving a few years ago), or a new supply of oil will open up, or a high demand market (like China) will close. At that point supply will out pace demand and prices will drop. Once that happens the commodities market for oil will probably nose dive in a panic.

You want to help it along? Bring the previous point up anytime someone brings up the topic of fuel prices going even higher. The stock market is controlled by rumor nearly as much as facts. Everyone wants to get out of a market before the bubble bursts, and people suddenly jumping ship can actually cause it.
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Old 04-29-2008, 06:13 PM   #8 (permalink)
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I heard a report on the radio today that prices per barrel have actually fallen (Enough to cause a shock to the commodities markets), and that demand is actually starting to drop as well. So, Fubarius may not be that far off.
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Old 04-29-2008, 07:09 PM   #9 (permalink)
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Answer: It's ALWAYS time to stockpile food and ammo.
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Old 04-29-2008, 07:45 PM   #10 (permalink)
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here reason why we do not make our own gas in usa. for one thing it cost us more to make then what we get it for now. if get to point where cost equal what it coast to make in usa then we use our own gas as for now its cheaper to get gas from out side place. we are at age where nations that really did not use gas no need more then what need before. look at china and india they use way more then use to and about 4 time more then they use too. the whole world is now using gas that we never seen before people
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