Economics

[Wowimzz 10+ year member]

hey guys, this is a little insight i heard from my economics teacher today. You know how much damage Katrina did. Well if Rita comes through texas as a class 5 hurricane you will see much much more damage. Texas is the home to 25% of the WORLDS oil. If Rita comes through texas you should plan on seeing gas prices around the 4 dollar range at least for regular. That is the least, in the worst case scenario it will be around 6 dollars a gallon. If any of you can read this before Rita comes through texas you should fill up your gas NOW!!!! This hurricane will be far worse in damage then Katrina.. Just wanted to let you guys know this a.s.a.p

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[squeak9798 5,000+ posts]

If Rita comes through texas you should plan on seeing gas prices around the 4 dollar range at least for regular.

We've heard from the local gas station that tommorrow gas in our area will shoot up to ~$4.70/ga.

:shrug:

Luckily I live close enough to my work that I can just walk if necessary. Cause I can't afford $5/ga to just be pissing into the wind with.....

 

[XtrmAudioCncpts 10+ year member]

texas my have 25 percent of the oil refineries but the US only has less than 1 percent of the worlds oil. yes the US consumes more than 5 times that of china with a population of 1 billion people, but we dont have crap for oil sources

 

[Range Rover 10+ year member]

I hope gas prices go up to 5 bucks a gallon..

Tire of old people and teenagers on the road..

//content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

 

[Chevyaudio 5,000+ posts]

I hope gas prices go up to 5 bucks a gallon..
Tire of old people and teenagers on the road..

//content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

I hope you get AIDS

 

[Wowimzz 10+ year member]

yea, thats what i meant xtreme,, sorry about that.. but id advise you to get gas now. my econ teacher said before katrina hit that it would be around 3.50, and he was right.. so i dont doubt him.

 

[2kchevy06civic 5,000+ posts]

I hope gas prices go up to 5 bucks a gallon..

Tire of old people and teenagers on the road..

I hope you get AIDS

lmao

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if gas goes up that much.............I'll probably be in the best shape of my life from jogging or walking everywhere.

 

[XtrmAudioCncpts 10+ year member]

see but the sad thing is that the oil companies are still turning a profit. with only 5 or 6 major companies controlling the oil industry they come together and pick how much they want to change for gas. its not like they are give us the gas to price of what it would be after being refined, the companies are still turning HUGE profits from it.

on a weather note the core of a hurrican can only sustain wind speeds up to about 190mph and now the winds are about 170. when and if the wind speeds hit 190 the hurrican can break apart. but since it is so far out in the golf 450miles or so from shore it has the risk with the water temps being so high that it will be able to make itself into a cat. 5 again if it were to be able to break up.

ok im done im a business major and i know a bit about weather

 

[JimJ 5,000+ posts]

texas my have 25 percent of the oil refineries but the US only has less than 1 percent of the worlds oil. yes the US consumes more than 5 times that of china with a population of 1 billion people, but we dont have crap for oil sources

Exactly...it's not the supply of oil that's the problem, hell, OPEC just released as much of it as the world is demanding...however, we could have as much oil as Saudi Arabia has now and it wouldn't do us a **** bit of good. We need the refining ability...

 

[Randy Savage 5,000+ posts]

Exactly...it's not the supply of oil that's the problem, hell, OPEC just released as much of it as the world is demanding...however, we could have as much oil as Saudi Arabia has now and it wouldn't do us a **** bit of good. We need the refining ability...

8 of the 9 suppliers that OPEC released are already pumping at full tilt...the only one that isn't can only produce about 2 mil barrels/day more, which won't do us much good //content.invisioncic.com/y282845/emoticons/frown.gif.a3531fa0534503350665a1e957861287.gif

 

[JimJ 5,000+ posts]

Oh well.

I've got 31 gallons of cheaper gas out there, and it's not going anywhere for the next few days. We'll see what happens.

 

[skierxx5556 10+ year member]

I was talking with a buddy of mine last night and were gunna go buy a bunch of those 5 gallon gas cans and fill those up before prices get to crazy...

 

[marleyskater420 5,000+ posts]

ive got a reserve of 5 galllons of 100octane in my garage for times like this.