How Long Before Gas Prices in your Country cause riots?

[Dorfdad]

It's going to happen. Sooner or later OPEC and the big oil companies are hell bent on rapping the entire world over fuel.

Open has stated Based on present supply and demand, he said it should be fetching $60-$70 a barrel.

http://news.sky.com/skynews/article/0,,91211-1317363,00.html

Today its fetching over 150.00 and predicted to go above 175-200 in the next few months. Exactly why?

Traders point to fears of a war with Iran, increasing demands from China, and other nations. In the US right now we are paying about $4.25 for a gallon. In europe its already much higher and people are starting to really panic over the increases.

The Job market is sagging, people can't afford the bills they have and now EVERYTHING from basic needs like food, and clothing has increased as well due to costs of shipping etc. While some good are artificially increasing.

Some parts of the world are rationing fuel already while Mass transit is increasing.

Each state has the ability to charge tax on gas, and Ive not heard of one reducing this tax to lower the burden on drivers. The middle and lower class are being hit hard and something is going to give.

One thing I do not get is that traders seems to be the twitchiest people in the world selling and buying on possible events.

So I feel the people are going to revolt, Truckers will strike and people will start rioting very soon over this. If someone here can explain why this is happening instead of saying supply and demand as it's been established that Demand is not the issue straight from OPECs mouth..

How Long before something major happens because of the current problems?

[Arion]

Its happening because traders are speculating. They are buying forward contracts on oil because "they feel" that there will be a shortage in 5 years. This increases demand and causes the price to go up.

There is nothing wrong with supply, the problem is the market THINKING that there will be a shortage. So prices go up whether there will be shortage or not. Thats the stupid thing about the market, prices are based on how people feel (market sentiment)

[Honestabe86]

If everyone wants cheaper gas why don't we all just eat a bean heavy diet.

[Dorfdad]

Well thats absolutely stupid that they feel based on what? That we will be in trouble in 5 years **** man we are in trouble now! Why do they not make it so you can only buy for a year in advance or something?

Sweltering heat, Oil Prices on the rise, Job markets sinking and they want us to pay more for everything.. When is the government going to step in and help with the taxes and reduce the cost so we can feel some relief? Wont happen beacuse it takes money out of their hands...

man sometimes Im really ready to move out of this country and to some small Island nation where life is slower and needs are not as much!

[skarekrow]

Theres really nothing we can do. Weve become so use to needing money and gas for transportation weve pretty much backed ourselves into a corner.
Since humans have become so independent on other people, we really dont know how to survive without the likes of mcdonalds or quicktrip.
The only way we could possibly get rid of the oil prices is just to stay at home and cause our economy to collapse, but that isnt going to happen, so instead, were just going to have to bend over, grab our ankles and take it like a man.

[SymphonyX]

Not I said the cat. Most weekends I go to visit friends in Mexico. Gas there is still 2.50 :). I fill up my tank all the way and still have extra containers that I fill up.

[Bansh88]

Didn't George Bush start a war in Iraq for Oil?! Guess the leftists were wrong.

The best trait of America and Americans is to overcome in the face of adversity. We will beat the gas prices.
Either by a minimalization of consumption, an easy alternative to fossil fuels or a combination of both.

[lintama]

Didn't George Bush start a war in Iraq for Oil?! Guess the leftists were wrong.

The best trait of America and Americans is to overcome in the face of adversity. We will beat the gas prices.
Either by a minimalization of consumption, an easy alternative to fossil fuels or a combination of both.


Actually it was over the use of the US dollar being the only currency used to trade crude oil with. Saddam was threatening to trade Oil for Euro, and Dinar. Iran is about to do the same.

http://www.worldpress.org/Mideast/2314.cfm
http://www.energybulletin.net/7707.html

Back in the Sixties when we still had a standard of the dollar being pegged to gold (Gold Standard) the green back had strong value as long as long as the gold reserves were high. Our reserves diminished due to trading and before long the Gold Standard was replaced with a Crude Oil based standard. Now, the only way the Dollar hold value is through the trade of crude oil. This works as long as all the countries go along with it. However that is not the case any longer to the fact that the US dollar has lost a ton of value lately, hitting below 70 on more than one occasion in the Index. More and more countries, Iran, Russia, China, Venezuaila, Afghanistan, Syria, Iraq, and Indonesia, all want to begin trading Oil with currency other than the dollar, the speculation of this has lead to the need to use more dollars to buy the same amount of crude in such a short time.

As far as rioting goes, we should riot to get rid of the Federal Reserve before we riot about oil prices. JFK wanted to abolish the federal Reserve, and so does Ron Paul.

[Bansh88]

As far as rioting goes, we should riot to get rid of the Federal Reserve before we riot about oil prices. JFK wanted to abolish the federal Reserve, and so does Ron Paul.

What an outstanding idea! Riots always accomplish so much.

[lintama]

Speaking of Oil and Money

http://www.nypost.com/seven/06112008/business/chrysler_bldg__on_the_block_115016.htm

[skarekrow]

Didn't George Bush start a war in Iraq for Oil?! Guess the leftists were wrong.

The best trait of America and Americans is to overcome in the face of adversity. We will beat the gas prices.
Either by a minimalization of consumption, an easy alternative to fossil fuels or a combination of both.

Ive been looking forward to the hydrogen fueled car now for a few years. They have the technology and have had it, they just refuse to use it because it wont generate as much profit as oil.

[Blu-Ray]

During the next presidency...

I mean, if the next president were to not do anything about it, even I would feel like rioting....

[BlindSight]

During the next presidency...

I mean, if the next president were to not do anything about it, even I would feel like rioting....

Well looking at the top two contenders we have for the Prez and how inept Congress is, they will not do anything constructive to solve any of our economic woes... -So make sure you buy a shiny pitch fork before people start wiping their rears with the dollar.

[Blu-Ray]

How about a rusty pitch fork? I won't have enough money to buy a shiny one. :(

[rhavec]

Petrol Profits

Posted by Dave_Malkoff

The US Department of Energy (http://www.eia.doe.gov/emeu/perfpro/news_m/index.html) has a resource not many people know about. They track oil profits from 19 of the most powerful energy companies operating in the United States. According to DOE's Energy Information Administration (http://www.eia.doe.gov/emeu/perfpro/news_m/index.html), those major energy companies pulled in $28.3 Billion in just the first quarter of 2008. That's a "42% increase relative to the first-quarter average for 2003-2007"

Exxon Mobil Corp.: $10.89 Billion Net (http://www.businesswire.com/portal/site/exxonmobil/index.jsp?ndmViewId=news_view&ndmConfigId=1001106&newsId=20080501005652&newsLang=en)

BP: $7.62 Billion Net (http://www.bp.com/extendedgenericarticle.do?categoryId=2012968&contentId=7044021)

Chevron Corp.: $5.17 Billion Net (http://investor.chevron.com/phoenix.zhtml?c=130102&p=irol-newsArticle&ID=1139017&highlight=)

http://farm4.static.flickr.com/3104/2567733391_34fd5e34e9.jpg? (http://www.eia.doe.gov/emeu/perfpro/news_m/list.html)


I don't think we'll see any comments or concerns from the oil companies for quite some time.

[JeffPara]

Its happening because traders are speculating. They are buying forward contracts on oil because "they feel" that there will be a shortage in 5 years. This increases demand and causes the price to go up.

There is nothing wrong with supply, the problem is the market THINKING that there will be a shortage. So prices go up whether there will be shortage or not. Thats the stupid thing about the market, prices are based on how people feel (market sentiment)


Hit the nail on the head there, couldnt say it any better. As far as I know, there is NOT a shortage of oil. But, international politics play a huge role, and the states doesnt want to run out of their + Canadas oil, so the buy overseas until it dries up.

[Mael Duin]

Don't know about america but at least Sweden and Finland are trying to move to alternative fuel, biofuel. Or something. This is just rough translation =)
Its supposed to be cheaper, more environment friendly and renewable resource.

[OldlandRed]

Most Western European countries are slowly moving toward biofuel for transport, and Nuclear power will replace gas.
A lot of the problems in the market right now, are Russian oil companies deliberately scare mongering to inflate prices.

[Advance]

Apparentely, there's going to be strikes up and down the country amongst petrol stations and the trucks which deliver it because of the inflation of gas prices and the wages they get paid. This won't affect me, personally, but I'd imagine it might cause some trouble for several other thousand people.

[OldlandRed]

They get £30k+ a year for driving those things, and want a %6 pay increase. Given that everyone is feeling the pinch right now, they're taking the mick.

Lay them off and get some Poles in.

[lintama]

Ive been looking forward to the hydrogen fueled car now for a few years. They have the technology and have had it, they just refuse to use it because it wont generate as much profit as oil.

The problem with hydrogen, from what I understand, is that it takes more energy to extract it than you get out in return.

Nuclear power and electricity is the only real solution. Electric cars would be great. You can't use ethenol either, due to the fact that you eat most of the stuff that it takes to produce it, mainly corn and soybean, sugar cane gives the highest yield, thats what Brazil uses.. Here in Indiana, we have had major flooding, as well as in Iowa and illinois, the corn crop is doing very poorly, which is going to affect prices even further. The average height of corn right now is less than 7 inches, it should be knee high by the fourth of July, which in most parts it won't be.

And yes oil speculation is having a huge impact on the oil market right now. They did the same thing to the housing market as well. Which was coupled with sub prime loans, its also affecting things. The whole thing is a mess.

[Xelis]

Not riots but tankers over here have gone on strike and its only going to get worse, as more and more go on strike, bringing England into a fuel shortage crisis.

[OldlandRed]

http://news.sky.com/skynews/picture_gallery/0,,30200-1320128,00.html

It's gone off in Indonesia

[lintama]

http://news.sky.com/skynews/picture_gallery/0,,30200-1320128,00.html

It's gone off in Indonesia

I remember when Americans had ball sack like that. (Just kidding)

[Sventax]

Riot.....hmmm I hope so.

In holland a guy invented a coptercar ( I have forgotten the real name).
By next year it will be on the market for the rich people. This vehicle flies at an average speed of 190 km/h.

So if you are riding on the road in 2010 don't be surprised if you suddenly see cars flying of from the highway to destination.
IT consumes half of the fuel a normal car in Europe would use.

In Europe we had some small riots. I am waiting for the big ones. Hopefully I will join them to if I create the chance.

I expect the US citizen to start a great riot and stop the Bush administration.
They may even try to kick him out of the office but then Marshall law will be declared.

[Sventax]

Well thats absolutely stupid that they feel based on what? That we will be in trouble in 5 years **** man we are in trouble now! Why do they not make it so you can only buy for a year in advance or something?

Sweltering heat, Oil Prices on the rise, Job markets sinking and they want us to pay more for everything.. When is the government going to step in and help with the taxes and reduce the cost so we can feel some relief? Wont happen beacuse it takes money out of their hands...

man sometimes Im really ready to move out of this country and to some small Island nation where life is slower and needs are not as much!

I am ahead of ya......taken care of that and hopefully before 2012 I will be living the easy and slow life dude.

[Arcturus]

There was a video on youtube before and they had some guy, running his car driving it down the street off of pure water. It took him about twenty years to make this. The sad the is, i think someone ended up murdering him. All the oil comapanys laugh all the way to the bank with the money they keep getting from higher and higher prices. There never satisfied with the amount of money they have. The government or gas or oil companys had the guy killed after his experiment. Their so damn greedy. Bush plays a big roll in this. Thats one reason he went to war with iraq. the oil. It comes down to power and the greed.

[Beemer]

Riot.....hmmm I hope so.

In holland a guy invented a coptercar ( I have forgotten the real name).
By next year it will be on the market for the rich people. This vehicle flies at an average speed of 190 km/h.

So if you are riding on the road in 2010 don't be surprised if you suddenly see cars flying of from the highway to destination.
IT consumes half of the fuel a normal car in Europe would use.

In Europe we had some small riots. I am waiting for the big ones. Hopefully I will join them to if I create the chance.

I expect the US citizen to start a great riot and stop the Bush administration.
They may even try to kick him out of the office but then Marshall law will be declared.

Bush will be out of office in the next 6 months. Hardly worth the riot if you ask me.

[lintama]

There was a video on youtube before and they had some guy, running his car driving it down the street off of pure water. It took him about twenty years to make this. The sad the is, i think someone ended up murdering him. All the oil comapanys laugh all the way to the bank with the money they keep getting from higher and higher prices. There never satisfied with the amount of money they have. The government or gas or oil companys had the guy killed after his experiment. Their so damn greedy. Bush plays a big roll in this. Thats one reason he went to war with iraq. the oil. It comes down to power and the greed.


Stanely Meyer, was the guys name. It took him four years to produce a device that would separate the hydrogen molecules from the Oxygen Molecules. Water would be passed through a device that would be exposed to less than 1 Amp DC current, the hydrogen separates from the oxygen, hydrogen rises faster than oxygen so, it can be collected from a higher chamber using vacuum.

Here is an interesting link to some supposedly "impossible" research based on super electrolysis.
http://peswiki.com/energy/Directory:Electrolysis

[Dave-The-Rave]

IMO they have to HURRY UP and get a damn renewable replacement to oil and make it a standard throughout the world !!

[Grym]

What an outstanding idea! Riots always accomplish so much.

Revolution is what it's all about. That will change things.

Power to the people.

Because we are so dependant on oil everything will just turn into a big fight about every drop. It will become ugly.

[kryton101]

IMO they have to HURRY UP and get a damn renewable replacement to oil and make it a standard throughout the world !!

Firstly on oil: -

1/ Output is the same and even increasing but demand from India and China is outsripping output, hence price increases. The oil markets are very speculative and you dont actually need to pay when you trade it. You just use an IOU slip and there is very little regulation. 2 guesses how this will all end. Basically it allows hysteria to run rampant which again affects prices badly.

2/ We have known that oil is a finite energy source since the early 60's and probably before that even. If I were looking down on the earth I would be hard pressed to be too sypathetic.


Alternative energy

1/ Europe has a massive wind, PV, wind project on the cards that will be spread over all of europe and North Africa where solar farms driving steam generators will be used. Diversity and innovation is the key across a range of technologies.

2/ Hydrogen is still a way off yet.

3/ Small scale wind and PV for domestic homes as well as solar water is in the achievable price range for many. While many claim that these items have long pay back times (in the case on PV panels 10-20 years) ask yourself what the payback is on a luxury car or other goods? You can isolate yourself wither partially or totally from the grid today at a not unrealistiv investment and change of lifestyle.

4/ Changing our habits and lifestyle are the biggest challenges. We winge about the cost but still leave everything switched on.

[weskurtz81]

Firstly on oil: -

1/ Output is the same and even increasing but demand from India and China is outsripping output, hence price increases. The oil markets are very speculative and you dont actually need to pay when you trade it. You just use an IOU slip and there is very little regulation. 2 guesses how this will all end. Basically it allows hysteria to run rampant which again affects prices badly.

2/ We have known that oil is a finite energy source since the early 60's and probably before that even. If I were looking down on the earth I would be hard pressed to be too sypathetic.


Alternative energy

1/ Europe has a massive wind, PV, wind project on the cards that will be spread over all of europe and North Africa where solar farms driving steam generators will be used. Diversity and innovation is the key across a range of technologies.

2/ Hydrogen is still a way off yet.

3/ Small scale wind and PV for domestic homes as well as solar water is in the achievable price range for many. While many claim that these items have long pay back times (in the case on PV panels 10-20 years) ask yourself what the payback is on a luxury car or other goods? You can isolate yourself wither partially or totally from the grid today at a not unrealistiv investment and change of lifestyle.

4/ Changing our habits and lifestyle are the biggest challenges. We winge about the cost but still leave everything switched on.

Just wanted to make a few comments. I think number 4 is going to be one of the smallest challenge. As price rise people adjust accordingly which has been shown with the American decrease in fuel consumption and the fact that Ford, Chevy, and Dodge are losing money hand over fist because they cannot sell trucks. So, quite obviously people have changed there life styles already in the last 6 months....... I know I have.

Also, you DO have to pay when you trade futures contracts, you just don't pay the full amount of the commodity to be delivered which allows people to stay liquid.

[TheGreatDane17]

Gas prices are going down & AAA said they predict prices to drop by the end of summer.

[Fatso]

Yeah gas is $3.75 where I live. Not too bad. People have to chill out, for real. Gas prices are like the stock market, one day they go up the next day they go down. People that live every day worrying about the gas prices are going to be very disappointed for a long time.

[StoneyPS3]

And the companies are making more and more profits because when they get it cheaper they keep the prices the same for a long time after (greedy)

People are already not paying for it and using other methods in England such as HHO or vegetable oil etc simply because with the crap average wage nobody can afford it thenn you got rising road tax etc. £1.33/35 a liter for diesel roughly & most of that is tax put on by the gov.

[kryton101]

Just wanted to make a few comments. I think number 4 is going to be one of the smallest challenge. As price rise people adjust accordingly which has been shown with the American decrease in fuel consumption and the fact that Ford, Chevy, and Dodge are losing money hand over fist because they cannot sell trucks. So, quite obviously people have changed there life styles already in the last 6 months....... I know I have.

Also, you DO have to pay when you trade futures contracts, you just don't pay the full amount of the commodity to be delivered which allows people to stay liquid.

Your right on oil trades and I knew that, it didn't come out quite right when I said it. However the deposit can be as little as 10% of the overall value. It's a house of cards, and if you think the banks are not regulated enough....... (latest credit crunch debacle.)

On point '4' I don't toally agree. There are a lot of people who have an entrenched feeling that they should be able to 'waste/use' energy as they please and it should be as cheap as chips. There are more still who just dont have a real sense of how much they do waste but are aware of increasing energy bills. Bear in mind that 'energy' and it's resepctive units in say kWh are not an easy to appreciate value for the public. While people might have a sense that some things use more energy than others the cumalative affect of this over time is not so well understood.

As a 'specialist' in this field I have had many requests from friends who want to get advice on wind turbines, solar, heat pumps, PV etc becasue of massive electrical bills. Only to discover that they have a cart blanche attitude to leaving any and all electrical items left on all the time from TV's and PS3's to lights, chargers, immersion heaters. After a quick toting up of what they could save by switching things off and the benefits of energy saving light bulbs throughout there is usually no need to add such items. Add in eco driving and they can afford another game every month with the savings!

Energy is still too cheap, petrol prices are not changing people's habits. Change will come about as a feeling of being forced to I think rather than as a benefit to ourselves in saving money and being 'green'.

However, it is now starting to become a 'selling point' for products. Business is our key change driver in society and so we have the beginings of something good. Problem is we should of been here 15 years ago. Artificially low energy prices may of done more long term damage than harm.