I should have said happy "Iran, North Korea and Israel" week. Forgot that an all-out war is breaking out there. Oopsie.
That commute from those overpriced suburban ghetto 40-mile-away stucco nightmare homes in Phoenix and other Wal-Mart supported sprawl disaster areas has gotta be getting worse every day, and you ain't seen nothing yet... Yes, it's all connected folks. It's all connected.
Brent North Sea crude for August delivery struck a record $75.45 per barrel in electronic dealing, beating its previous high of $75.09 which was also set on July 7.
"Israel has been (pushed) into the background because of Iran and Iraq but the Israeli-Palestinian problem is the grand-daddy of oil problems," said Tony Nunan, manager for energy risk management at Mitsubishi Corp's international petroleum business in Tokyo.
"The situation is escalating again after several years — they've now entered Lebanon."
The Israeli strikes, which followed the snatching by Hezbollah gunmen of two Israeli soldiers, compounded tensions arising from Iran's defiance of Western pressure to rein in its nuclear ambitions, dealers said.
Meanwhile, world powers meeting in Paris on Wednesday had upped the stakes over Iran, agreeing to send Tehran back to the UN Security Council and raising the threat of sanctions over its refusal to suspend uranium enrichment.
July 13, 2006
Suburban (and Hummer H2 owner) nightmare: Mid-east conflict and $100 oil
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get ready for a mind-blowing stockmarket crash
just had dinner last night with friends and their wife started complainning about wanting a new vehicle. she drives a toyota four runner now and started talking about buying a tahoe or yukon. We all rolled are eyes and asked about fuel costs. she is all about the LOOK driving around town (when I see people driving solo in a gas hog I question their sanity. gas is not going down.
Got gold?
The US could easily cut back 25% on oil consumption but the sheeple don't even know there is a serious supply problem looming. They just figure they will pay more and continue on as before indefinitely. We should have listened to Carter years ago. Now we're in a tight spot going forward.
In the 70's people started to catch on to the problems associated with addiction to foreign oil. People began to research fuel efficiency and alternative/renewable energy. However, the mideast drug dealers saw the way the wind was blowing and turned the taps on to full thereby preserving the addiction for another generation.
Now what do we do?
get the oil clowns out of office.
"We should have listened to Carter years ago."
Yeah - what a great leader he was. Stagflation anyone? Letting fascist islamic nuts get their start in Iran (the beginnings of all our oil problems), gutted our military and practically surrendered to the USSR...
BUT
Housing prices did crash under Carter due to his insane policies - so I guess for this blog, he was a good guy.
Was it not just yesterday an anon told me to "CALM DOWN" over this situation...shit i am calm as the drivin snow..I own my shit..it is the anon driving the great big SUV who is the stressed out Doomsayer HAHAH!
Me I drive a 2004 impala ( Yes GM piece of shit) 6 cylinder..just paid off..nice! The wife 1999 chevy venture (another piece of shit) bought and paid for many moons ago.. I am very CALM..!
So a contractor shows up at my house last week - I ask him what's up with the price of gas...He says we should not be getting our oil from the ME rather Alaska where there is twice as much oil as us in the ME.
We are so screwed. The crash of the housing market is gonna look like a cake walk in 5 years.
Hey but maybe H5N1 will leve; the playing field and there will actually be more than enough oil to go around.
www.lifeaftertheoilcrash.net
Check it out folks we are PEAKING TODAY!!!!
For the past 6 months, I have seriously consolidated my driving. No more "just run to the store for a few things". I keep a list of items that need to be purchased and once a week or so I go. Even the route is carefully considered. Kmart first, then on to Lowes, Tobacco shop right on the way to the Grocery store. I try not to backtrack and always drive conservatively (y'know: no jackrabbit starts and such}. It's my small contribution to using energy wisely and it helps my budget too. I have even asked my neighbors if they need anything while I'm out. If everyone would do a little, then it might help alot. Just might. IMHO. But I'm really not optimistic. I'm afraid that we've lost our collective minds.
Here in Caracas, I just filled up at 17 cents per gallon...Thank you gringos..VIVA CHAVEZ!
As the last post points out, the options out there for individual conservation are widely available and under utilized. As fuel prices increase, don't discount American's ability to conserve and the market's ability to provide fuel efficient solutions. Just because we're still driving around by ourselves in gas hogs now doesn't mean we'll be doing it in ten years.
p.s. To point, the options on the table for US36 include bike lanes from Boulder to Denver.
by "last post," I meant Python and not the pro Chavez anon.
$.17/gal? What about 12% unemployment?
"she is all about the LOOK driving around town"
She needs to get Prius then. SUVs are not cool. Matter of fact I assume someone driving it is an aloof idiot. Someone driving a Prius always gets a thumbs up with me.
I'm getting my contengencies together for a rough economic patch with high oil.
I could walk to work at back if need be, but I drive across town to attend night school 3 nights a week. Average 200 miles per week. I do have a V8 powered CAR but average 20-21 MPG.
A. Cut back on all unnecessary driving
B. Trade car(s) in for Chevy Cobalt and pay with cash
C. Bunker down for the rapture =).
History has not been kind to Carter, and you can debate the reasons about that until you're blue in the face. Give the guy credit he is due, though, for being the only president so far to put on his Mr Rogers cardigan, tell the american people "This is going to hurt, and this is what we're going to do about it," and do it.
55mph, everybody.
"Give the guy credit he is due, though, for being the only president so far to put on his Mr Rogers cardigan, tell the american people "This is going to hurt, and this is what we're going to do about it," and do it."
The newest Newsweek has the cover story about a "Green America". Environmentalism is finally on the radar. I'd love to do more. We are suffering from severe tragedy of the commons right now.
Hummer? At the open house last Sunday, the super nice RE agent offered me a hummer if I'd sign a contract. But she said to meet her in the back room instead of the garage...
anonymous:
History has not been kind to Carter
If we had listened to Carter we might have a sustainable energy policy in place by now. The deficit might not be so huge and the money might still be worth something. Just because spoiled Americans gave Carter the bum's rush doesn't mean he was wrong. If anything, history will not be kind to the American people for their wasteful use of fossil fuels.
I personally am glad when gasoline prices go higher. This will lead to higher inflation #'s,...higher interest rates. We need to pop the housing bubble..I don't want to wait five years for housing prices to go down.
"just like the tech bubble in 2000, things were set in motion long before the actual event. "
Yeah - like 8 years of corruption from the Clinton Administration...
buzzkill, I'm anon 3:38, and that is exactly why I made that post.
I remember being taken to tour a passive solar home in 1983. Yes, that was after Carter got out of office, but it was a direct offshoot of things that happened while he was in office. Unfortunately, that idea never really caught on. Air-con and superhomes became popular, rather than wellmade, modest, energy efficient homes. The whole 55mph speed limit was intended to save fuel--and despite being wildly unpopular, it worked a treat. So did the solar panels on the White House.
Like I said, the man deserves a lot of credit for what he tried to do, and a whole lot more credit for having the courage to tell the sheeple "be ready, guys, because this is going to hurt."
"Like I said, the man deserves a lot of credit for what he tried to do, and a whole lot more credit for having the courage to tell the sheeple "be ready, guys, because this is going to hurt." "
Carter was a fool who almost ran this country into the abyss. And during his terrible 4 years, the democrats controlled the house, senate and White House. You can cry all you want of what you wished he did, but you have to judge him on what he did do - and his record is pathetic and then he lost by the largest landslide in history...
I agree totally 3:38. The present policies are making the change to a lower energy future impossible. Inefficient cars, inefficient houses, extravagant wastes of energy can not continue. A true leader speaks the truth and has a vision for the future. All the rest are just politicians.
"A true leader speaks the truth and has a vision for the future. All the rest are just politicians."
Without the backing of the people, no "leader" can accomplish anything. Jimmy Carter was a well-intentioned man, but he failed as a leader. I also find it humorous that Carter, a bible-thumping Baptist, is the darling of so many on the left who scorn any hint of religion in our lives.
Carter's energy intiatives also included the Synfuel Corporation, remember that one? Their plan was to strip-mine half of the western states to extract oil from shale deposits. It was a typical government boondoggle/fiasco that ended suddenly and sent Colorado and Wyoming into a depression that lasted ten years. Yes, we have very fond memories of good ol' Jimmy out here...
Wow! The Tahoe and Yukon are the hot "look" cars now over the 4 Runner? Go GM! I am glad I held onto my stock...
I bought my Tahoe and kept it since it was the "plain jane" and not the fancy Escalade, LX470, etc. Now I am with it... (really my Tahoe driving, Target shopping, high income wife...)
Millionare Next Door...
No man is perfect and Carter had his share of faults. IMO we're all friggin' doomed anyway. Nobody wants a better future, they just want to be rich.
I am a republican leaning on the NeoCon side. I did not like the Carter years, but did feel bad for him when he tried the hostage rescue and regrettable accidents led to the deaths of dedicated service men (first Delta Force deployment ever). I 100% supported Regan, and his early pronouncements of what was coming down on Iran if the hostages were not freed, and he was president, in which the hostages were released after his election. (Iran trying to influence US elections?)
But, remember the Regan military build up (which I supported) of such weapons as:
- MX "PeaceKeeper" missle
- B2 Stealth Bomber
- F117 Stealth "fighter"
- Intermediate Range Nuclear missles in Europe
- Large Naval build up with "rapid deployment force"
Well, guess who signed the R+D funding for these weapons systems? Carter! A former Nuclear Engineer. I give Regan credit for funding and having the will to deploy these weapons that Carter had developed, and his initiative on strategic defense R+D (paying dividends today, at least politically). But remember, Carter funded the R+D of these weapons.
Carter, typical engineer, will spend for R+D on high tech weapons, and then hope he never has to use them in anger, and will go out of his way till his back is to the wall..
NeoCon
Oops, forgot the Trident Nuclear Submarine and missle system that was R+D funded under Carter as well. Makes sense, he was a former Nuclear Submariner himself.
We may see $100 crude, but if I read last week's govt. report correctly, we're sitting on almost half-year (22 weeks) of already refined gasoline reserves. A serious price shock would lower consumption enough to make that a 60-week supply.
$5 gasoline... that would serve the gigantic SUV- and monster truck-driving troglodytes right...
P.S. Israel has nukes so let Iran attack. Say good bye Iran and you'll also have your global oil-shock induced collapse and you can go out and buy all the goodies you want...if you are one of the lucky ones to have a few pennies left to buy all those abandoned homes, cars, etc.
$5 gasoline... that would serve the gigantic SUV- and monster truck-driving troglodytes right...
AMEN.. @ $3.25/gal, and I'm still being tailgated daily by H2s and Yukons. Maybe they'll start slowing down when their gas bill is higher than their mortgage.
In the not-too-distant future, an obscenely oversized vehicle (e.g., Sloburban or H2) may be worth more as scrap metal than as transportation.
Yes, Yes it's all connected. Well said. What we need more of.....
I am a
FULL SPECTRUM ECONOMIST
>>>Maybe they'll start slowing down when their gas bill is higher than their mortgage.
Not me. No mortgage, and it would take over $10.00/gal to slow me down. Out of my way Priuses....
It looked as if Bush had shit his pants giving that press conference in Germany. The stock market declined nearly 2% today alone. Bush knows Israel is out of control and will trigger a larger war that will result in economic meltdown in the US from high energy prices and a big sell off in financial markets.
As for those of you rooting for Israel or Iran...either way we will lose because these will become the "good old days of $3 gasoline" after this war.
You guys that rent and/or have your car paid off should not be so arrogant. What will you do if your job is eliminated, energy surges or is unavailable at any price, and the shelves in food stores are bare because of a major depression?
FYI Gold is not digestable by the human body.
http://www.bloomberg.com/markets/rates/index.html
don't you hate those inverted yeild curves? many times recessions appear after a prolonged inversion. usually that is good for bonds and bad for stocks, commodities.... I'm not certain anything is usually this time though? thoughts?
Israel is seriously isolating itself further from goodwill of the rest of the world, except of course the USA, but the US itself has managed to have the rest of the world turned againt it, so they just have each other, I guess. What will they do, when the US goes down as a third world economy?
What Israel is doing is short-sighted and arrogant. But then Uncle Sam has set many a fine example in that department. I was sympathetic to the Jewish people, but they should get a better grip of their government. It's really turning me off and already has wiped off much of my sympathy.
Interesting website with a lot of resources and detailed explanations.
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