According to this article (via Reuters), “crude oil prices may fall below $100 a barrel in the coming months…”
As I posted before, I really don’t see the huge issue with high gas prices. Worst case-scenario, we’re forced into an alternative, only one which does not come from pockets in the earth (e.g. turbine [think water wheel], solar, wind), which is hardly a horrible solution.
Besides, oil is NOT a renewable resource, and the ‘big oil companies’ know this – if you take a step back and take a good look at it, you’ll realize it’s just business. If their bread-and-butter is to run out at some point in time, no matter how many years down the road it is, they have every right, and should, proceed to make as much money off of their product as they can – supply and demand. Don’t complain because it “hurts you,” learn to budget properly, stop eating out so often, cut back on your $150-per-month cable subscriptions and become more fiscally responsible. That’s coming from one American to another (or, if you’re from another country, let me know what you think about our president – we can trade jokes).
I’m not saying it’s a good thing that gas prices are going up – after all, I commute to work, albeit not very far (~15 minutes), but thankfully, careful budgeting has got me where it doesn’t hurt to fill my tank up when my car is thirsty. I don’t have a Prius or a car that takes it easy on gas; if I’m lucky, my ’97 Oldsmobile (it’s a 6-cylinder, too) gets ~370 miles on a full tank. If I fill up from a station that uses up to 10% ethanol, I drop to about 300 miles, give or take if I’m doing more city / highway driving. And no, I’m not a hypermiler; they’re the new douchebags, according to fark.
So much for that ‘alternative fuel’ idea. Now I’m paying 2 bucks for a dozen eggs while getting LESS gas mileage for the same price. Good call on that one, G’dubba.
Of course, the ‘real’ reason oil is so high is due to the weakness of the US dollar. That also explains why the cost of oil AND gold have shot up to all-time highs. Well, to be honest, if ~33% (about a third for the mathematically uninclined) of your country could be taken due to forfeits of loans to a foreign country (read: China) at any given point in time (read: when they deem it necessary), well, I wouldn’t financially invest in our country, either.
It’s a scary thought, but I might turn it into a realistic fiction plot – imagine China actually tries to collect the money that we, as a nation, owe them. What if EVERY country at once tries to collect their total debts?
According to the U.S. National Debt Clock, as of this posting (~10:50pm EST), $ 9,539,596,376,815.26 is the total amount we’re in debt for. That’s just over 9.5 TRILLION dollars. Bill Gates and Steve Jobs can’t bail us out of this one.
That’s a lot of money. We’ve got a lot of guns and bombs. China’s got a lot of guns and bombs. Other countries have a lot of guns and bombs. This is a horrible predicament we’re in, as a whole. Not for the people who have foreclosed homes, not the people who paid for their multi-dollar highrises with cash, no, no – for ALL of us, as a whole. Just think of what could happen. At the moment, we’re all on good terms, but in this kind of unstability across the board, you never know.
That’s all I have.