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PostPosted: Wed Apr 23, 2008 4:26 pm 
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Mobo-fu Master
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Guess a lot of people are in true shock to hear the price of a barrel of crude has topped $119.00 USD! Crude Profile:
And where will it end?
That reflects on what is paid at the pump. Current fuel prices:
Maybe it is time for someone to go to court for a 'show cause' order so those commodity traders can explain why the price is so outlandish!!
The world's economy is at stake!

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PostPosted: Wed Apr 23, 2008 7:29 pm 
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It's almost $4 per gallon here in CA, and it costs me about $55 to fill up my tank (1997 Avalon)

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PostPosted: Thu Apr 24, 2008 12:42 am 
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That is not the real question. How much more can the dollar plummet compared to any other currency. If you check out the pricing in euro's or any other currency that does stand its ground the crude oil price hasn't risen all that fast.

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PostPosted: Thu Apr 24, 2008 5:36 am 
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How high can crude go up in price ?

How much have you got ???

The idea of a 'PetroDollar' was a bad idea in the first place - but I'm sure they'll switch to Euros once the dollar devalues enough.
Speculators aren't helping either.
At least we can still buy all we want... :roll:

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PostPosted: Thu Apr 24, 2008 8:02 am 
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Just an estimate, in ten years from now, $250 minimum, maybe as much as $400. 10 years on from that.....double those figures and that's if all is peace and harmony in the oil producing countries.

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At least we can still buy all we want...


For now. :(

Pete

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PostPosted: Thu Apr 24, 2008 11:14 am 
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As long as it's a commodity in high demand (and our North American society basically revolves around oil), it can keep rising in cost.

I'm in Canada (west coast) and after currency conversion, our gas is just under $4.75 US per gallon ($1.27 CDN per liter). So I'll take your California gas price right now! :lol:

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PostPosted: Thu Apr 24, 2008 12:04 pm 
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iamwhoiamtoday wrote:
It's almost $4 per gallon here in CA, and it costs me about $55 to fill up my tank (1997 Avalon)


Think yourself lucky you're not in the UK. I'd love a full tank of petrol for $55. It costs me about $100!


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PostPosted: Thu Apr 24, 2008 1:07 pm 
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Mobo-fu Master
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Definitely the devalued U.S. dollar has prodded the rise in crude prices. But the greed and "bragging rights" of certain commodity traders is more at fault.
The Canadian Dollar is quite close to the U.S. dollar value.. but was about 1.5 times higher in exchange rate, not too long ago. And the British Pound was once at £2.80 per U.S. Dollar. Current Exchange Rates:

There are too many variables to enter into the equation.. trade deficit, Middle Eastern strife, import surtaxes.. to name just a few.

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PostPosted: Thu Apr 24, 2008 3:33 pm 
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And the British Pound was once at £2.80 per U.S. Dollar.



I think you have that the wrong way round should be $2.80 per £ :) . That was a fixed rate till 1967 when it went to $2.40. At one stage during the 80's it was as low as $1.06.



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There are too many variables to enter into the equation.. trade deficit, Middle Eastern strife, import surtaxes.. to name just a few.


Fair comment, I based my estimate on the long term running down of Crude Oil reserves. Let's see what the next few years bring.

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It's almost $4 per gallon here in CA,


Still cheaper than a gallon of beer though :)

Pete

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PostPosted: Fri Apr 25, 2008 10:54 am 
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when you take out one of the large oil producing countries called iraq, all i can say is reep what you sow

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