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BMIFlyer
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Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 1:25 pm

... and climbing!!

Oil prices have risen every day for the past 5 days. http://news.bbc.co.uk/1/hi/business/7289070.stm

Compared to this time 2 years ago, Oil prices have Doubled in price.
Oil Price Hits New High! (by ACAfan Mar 16 2005 in Non Aviation)


How much longer can we sustain this??



Lee
Sometimes You Can't Make It On Your Own
 
LHStarAlliance
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 1:30 pm



Quoting BMIFlyer (Thread starter):
Oil prices have Doubled in price.

I'ld say trippled ! I remember while I was living in Ecuador the Oil price was near 16$ ! Now so high this is incredible , good for that countries , good for the environment and on short term bad for us in long term good .


Constantin
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Elite
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 1:34 pm

I just saw an interesting thread in Civ Av about how this will affect commercial aviation. I really hope that this doesn't affect our normal way of life but it seems inevitable that oil is going to be (if not already) a major concern for everyone.
 
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falstaff
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 1:38 pm



Quoting LHStarAlliance (Reply 1):
good for the environment

How do you figure? Just because the price is high doesn't mean people will use less. Some people will. People like me who can least afford it, still have to drive to work (no public transportation where I live). Of course people like me already drive fuel saving cars and turn our heat down just to get by. If you have big money what is the big deal about paying a bit more.

Quoting LHStarAlliance (Reply 1):
good for that countries

Maybe, Maybe not. If people use less fuel The high price will only make up the difference for the lower volume sold.

Quoting BMIFlyer (Thread starter):
Compared to this time 2 years ago, Oil prices have Doubled in price.

In the summer of 1998 I was paying 67 cents a gallon in Suburban St. Louis, Missouri.

High gas prices really suck because everything else goes up in price too. My salary stays the same. Millions of other people feel the same way. The price of bread at the stores around me has gone up 70 cents so far this year. Milk has gone up and just about everything else. If my salary stays the same my standard of living goes down.
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baroque
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 1:41 pm



Quoting LHStarAlliance (Reply 1):
good for the environment and on short term bad for us in long term good .

Indeed, assuming that the current level is not due to the gnomes - looking less and less likely because they do even better with fluctuations and so far it ain't fluctuating - this is just the start. If it is due to physical shortage, it is not going even to stop going up until consumption starts to fall. In the late 70s, consumption dropped about 15 to 20%. So far, lower consumption is just not happening. Why.

At least two reasons.

Savings that relate to systems (such as power generation from oil) were made in the late 70s and cannot be repeated. Saving related to personal choice are slow in coming.

Much of the demand is new demand and that seems to have different drivers. What worked for Japan in the late 70s may not work for China in the late noughties.
 
IL76
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 1:42 pm

Well... Someone has got to pay for all of this:

...only joking...  Smile

[Edited 2008-03-11 06:44:13]
 
Elite
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 1:50 pm



Quoting Falstaff (Reply 3):
High gas prices really suck because everything else goes up in price too.

Yeah, the high gas prices means that everything is getting really expensive. From food to clothing things just get more and more expensive.

It's funny when you take a look at the similar topics at the bottom of the page:
Oil Price Reached $50 Per Barrel (by StudentFlyer Sep 28 2004 in Non Aviation)
 
LHStarAlliance
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 1:52 pm



Quoting Falstaff (Reply 3):
How do you figure? Just because the price is high doesn't mean people will use less. Some people will. People like me who can least afford it, still have to drive to work (no public transportation where I live). Of course people like me already drive fuel saving cars and turn our heat down just to get by. If you have big money what is the big deal about paying a bit more.

High fuel prices make that New Technologies to save energy are more attractive , and this is in long term good for the Environment

Quoting Falstaff (Reply 3):
Quoting LHStarAlliance (Reply 1):
good for that countries

Maybe, Maybe not. If people use less fuel The high price will only make up the difference for the lower volume sold.

you're contradicting yourself .
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falstaff
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 1:52 pm



Quoting IL76 (Reply 5):
Well... Someone has got to pay for all of this:

Where is that?

You may only bee joking, but that is true in a way. With more development there is more energy consumption.
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LHStarAlliance
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 1:54 pm



Quoting Falstaff (Reply 8):
Quoting IL76 (Reply 5):
Well... Someone has got to pay for all of this:

Where is that?

You may only bee joking, but that is true in a way. With more development there is more energy consumption.

in Dubai
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falstaff
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 1:56 pm



Quoting LHStarAlliance (Reply 7):
you're contradicting yourself .

I know, I was was playing both sides of the argument.

Quoting LHStarAlliance (Reply 7):
High fuel prices make that New Technologies to save energy are more attractive , and this is in long term good for the Environment

That is true. We do need to weary of new technologies that do not really fix the environmental problems. A lot of people put stock in using soy or corn for fuel. Making fuel from food isn't a good idea in the long term. Battery Technology is good, but what about all the chemicals laying around when those batteries wear out. Fixing the energy problem is not a short term thing and fixing it on the backs of regular working class people isn't going to win the energy companies any friends.
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BMIFlyer
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 1:57 pm



Quoting Falstaff (Reply 8):
Where is that?

The "Palm" in Dubai. So big it can be seen from Space.
Sometimes You Can't Make It On Your Own
 
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falstaff
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 1:59 pm



Quoting BMIFlyer (Reply 11):
The "Palm" in Dubai. So big it can be seen from Space

Where are the green freaks protesting this massive thing? You could never build anything like that in the USA.
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Newark777
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 2:08 pm

Should be interesting when this commodity bubble pops. Maybe not this year, but it'll be ugly.
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StarAC17
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 2:14 pm



Quoting Falstaff (Reply 12):
Where are the green freaks protesting this massive thing? You could never build anything like that in the USA.

I know and be thankful for that, I'm sure that environmentalists would be at the very least kicked out of Dubai for protesting it or you know jailed for life or killed.

As for oil prices they are no where near high enough for people to make a difference in their lifestyles. We (the developed world) need to go green and have to think long term and stop being short sighted about it. If we don't then China and India are going to overtake us but if we can invest in green fuels we can be on top for generations to come. This movement is 35 years late.
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moo
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 2:25 pm



Quoting BMIFlyer (Thread starter):

Compared to this time 2 years ago, Oil prices have Doubled in price.

Don't forget, the USD has also devalued significantly against quite a few currencies in the same period - the current $109 barrel cost is around £55 to us here in the UK.
 
BMIFlyer
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 3:20 pm



Quoting Moo (Reply 15):
Don't forget, the USD has also devalued significantly against quite a few currencies in the same period - the current $109 barrel cost is around £55 to us here in the UK.

Of course. In fact you can now get nearly the same amount of US $ per £ as you can Canadian $ (£1 = $2).



Lee
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MD11Engineer
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 3:53 pm

Diesel prices stayed about the same in Germany over the last few weeks, here in my region at appr. Euro 1.32 per liter. Petrol is more expensive, (regular 1.40 Euro pern liter, super 1.45 per liter).

Last week the BBC published that a major oil field has been found near the Falkland Islands and will start production soon.

Jan
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falstaff
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 3:58 pm



Quoting MD11Engineer (Reply 17):
Diesel prices stayed about the same in Germany over the last few weeks, here in my region at appr. Euro 1.32 per liter. Petrol is more expensive, (regular 1.40 Euro pern liter, super 1.45 per liter).

Diesel at the station by my house was $4.19 per gallon this morning.

Quoting BMIFlyer (Reply 16):
Of course. In fact you can now get nearly the same amount of US $ per £ as you can Canadian $ (£1 = $2).

The last time I was in Canada, which was a few weeks ago, I was getting $1 USD = $1 CDN.
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IFEMaster
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 4:00 pm

Get used to it folks, it ain't coming down.
Delivering Anecdotes of Dubious Relevance Since 1978
 
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moo
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 4:06 pm



Quoting IFEMaster (Reply 19):
Get used to it folks, it ain't coming down.

The rest of the world can finally see petrol prices that we in the UK were suffering a decade ago from  Wink Just wait until they come on par with our current prices - in 10 years time!
 
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falstaff
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 4:10 pm



Quoting IFEMaster (Reply 19):
Get used to it folks, it ain't coming down.

I'll wait and see. I have heard that before.

Quoting Moo (Reply 20):
The rest of the world can finally see petrol prices that we in the UK were suffering a decade ago from

Weren't the high prices in the UK because of high taxes?
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moo
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 4:17 pm



Quoting Falstaff (Reply 21):
Weren't the high prices in the UK because of high taxes?

Yes, but regardless of the reason why, we were still paying 10 years ago the prices that you hear so much outrage about today from certain nationalities  Wink
 
IFEMaster
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 4:23 pm



Quoting Falstaff (Reply 21):
I'll wait and see. I have heard that before.

From what I can find, there has never been such a dramatic rise in prices, expressed in percentage, of gasoline at the pump, ever. Although the current rises go way beyond inflation, there is nothing to suggest that barrel prices will return to sub-$50. Whatever you've heard before I'm afraid probably isn't going to apply here. I'm sure the prices will dip a little, but we're not going back to the $1.49 per gallon prices we had 3 or 4 years ago, more is the pity.
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MD11Engineer
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 4:31 pm



Quoting IFEMaster (Reply 23):
Whatever you've heard before I'm afraid probably isn't going to apply here. I'm sure the prices will dip a little, but we're not going back to the $1.49 per gallon prices we had 3 or 4 years ago, more is the pity.

That's for sure, but if they rise more, I'll fill up with vegetable oil.

Jan
Je Suis Charlie et je suis Ahmet aussi
 
IFEMaster
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 4:54 pm



Quoting MD11Engineer (Reply 24):
if they rise more, I'll fill up with vegetable oil.

If they rise more, I'm going to open a Shell franchise  Smile
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WildcatYXU
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 4:59 pm



Quoting MD11Engineer (Reply 24):
That's for sure, but if they rise more, I'll fill up with vegetable oil.

While it's generally possible, I'm personally not concerned about my car fuel. I don't commute long distance, so if I spend $ 100 monthly more on fuel, I'll certainly survive. However, high fuel costs are pushing up the prices of virtually everything, they're pushing up the costs of running business. Many businesses may become unprofitable over it and the situation may become really painful for the entire economy. On a smaller scale I wonder what are our owners thinking now about closing the plant in Vancouver and trucking the product (which is in 95% water) across half of the country.
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Blackbird
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 5:09 pm

Two words... Enron Loophole.
 
ConcordeBoy
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 5:17 pm



Quoting Falstaff (Reply 12):
Where are the green freaks protesting this massive thing?

Faire du ciel le plus bel endroit de la terre c'est impossible sans Concorde!
 
lowrider
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 5:19 pm



Quoting Newark777 (Reply 13):
Should be interesting when this commodity bubble pops. Maybe not this year, but it'll be ugly.

What do you think will pop it? The demand will never go down and probably won't even level out for the foreseeable future. Even if it does pop and commodities traders and oil companies get soaked for a year or two, you don't think the relief to other parts of the economy will offset it? On the consumer end, fuel and energy are largely "cash and carry" businesses, so I think they would be immune from some of the pressues that other markets, such as housing, have faced. I have been wondering about an "oil bubble" or a "commodity bubble" for a while now, but I can't quite figure out what mechanism, other than some new radical energy supply, would burst it.
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AA777
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 5:38 pm



Quoting Falstaff (Reply 21):

I'll wait and see. I have heard that before.

When was the last time it came down? after a huge spike like this? in the 70's?? That was 30+ years ago and things are not the same..... Prices may fall a little, but I dont think its ever going to be 'cheap' again.

And people are right, we do need to embrace going green. If we all had cars that we only had to fill up every 2 weeks b/c they get 45+ mpg- it would be a much smaller dent in the wallet, wouldnt it? I'm currently thinking of downsizing to a Mini Cooper, from my Audi, b/c I'll get at least 10 MPG more... and it fits better when parking in the city  Smile

-AA777
 
MYT332
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 5:42 pm



Quoting ConcordeBoy (Reply 28):


Quoting Falstaff (Reply 12):
Where are the green freaks protesting this massive thing?

*photo*


Are you saying all green protesters are gay?
One Life, Live it.
 
ConcordeBoy
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 5:48 pm

Quoting Myt332 (Reply 31):

Are you saying all green protesters are gay?

...as in happy? Nah, they don't look it in that pic.

[Edited 2008-03-11 10:49:23]
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MYT332
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 5:52 pm



Quoting ConcordeBoy (Reply 32):
...as in happy? Nah, they don't look it in that pic.

They still look happier than some after the KC-45 announcement!  Wink
One Life, Live it.
 
Newark777
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 6:15 pm



Quoting Lowrider (Reply 29):

This rally has been going on for years, and it is only a matter of time before people start selling off at the top. Add to that an appreciation of the dollar when the economy starts it's upswing, and you might see prices fall pretty far. It may not be disastrous, but these speculative bubbles just can't keep going forever.

Demand from developing countries (India, China, etc.) could offset this, though, depending on how their demand increases.
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VonRichtofen
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 6:24 pm

There's several factors in the rise of oil prices in the last few years. Increase in Demand is outpacing increases in production (mostly from the developing world). The devalued USD has had a huge role in the latest spikes.

It'll correct itself in time, I doubt we'll see $50 per barrel again, unless by some miracle demand is literally halved. But as if that's going to happen.
 
planewasted
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 6:33 pm



Quoting Falstaff (Reply 3):

How do you figure? Just because the price is high doesn't mean people will use less. Some people will. People like me who can least afford it, still have to drive to work (no public transportation where I live).

If the oil gets more expensive you will get a public transportation system.  Smile
 
LHStarAlliance
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 6:42 pm



Quoting Falstaff (Reply 3):
In the summer of 1998 I was paying 67 cents a gallon in Suburban St. Louis, Missouri.

and now ?
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falstaff
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 8:04 pm



Quoting PlaneWasted (Reply 36):
If the oil gets more expensive you will get a public transportation system

I hope so, but I still have to drive to work until one is built. The way things are done in the Detroit area I might be retired by then.

Quoting LHStarAlliance (Reply 37):
and now ?

I just filled up for $3.35 per gallon in Taylor, Michigan this afternoon.
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LHStarAlliance
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 8:08 pm



Quoting Falstaff (Reply 38):
I just filled up for $3.35 per gallon in Taylor, Michigan this afternoon.

Wow ! Here we're paying 1.34 € that's about : 2.05 $ , that's a big difference ! I suppose it's because of the Strong euro .

Constantin
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WildcatYXU
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 8:11 pm

Quoting LHStarAlliance (Reply 39):
Wow ! Here we're paying 1.34 € that's about : 2.05 $ , that's a big difference ! I suppose it's because of the Strong euro .

You're paying 1.34 Euro per litre, while he's paying $ 3.35 per gallon. That's 3.74 litres. It's still cheaper on this side of the pond.

Edit: Newark777 was faster than me.

[Edited 2008-03-11 13:12:09]
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Newark777
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 8:11 pm



Quoting LHStarAlliance (Reply 39):

Wow ! Here we're paying 1.34 € that's about : 2.05 $ , that's a big difference ! I suppose it's because of the Strong euro .

Yeah, but isn't that $2.05 a liter? We measure in gallons over here.
Why grab a Heine when you can grab a Busch?
 
LHStarAlliance
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 8:12 pm



Quoting Newark777 (Reply 40):
Yeah, but isn't that $2.05 a liter? We measure in gallons over here.

oh .. you're right .

How much liters are 1 gallon ?
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Newark777
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 8:16 pm



Quoting LHStarAlliance (Reply 42):
How much liters are 1 gallon ?

According to Google:

1 liter = 0.264172052 US gallons
Why grab a Heine when you can grab a Busch?
 
andrej
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 8:58 pm



Quoting Newark777 (Reply 43):
1 liter = 0.264172052 US gallons

or

1 US gallon = 3.78541178 litres


 Big grin  Wink

Cheers,
Andrej
 
MadameConcorde
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 9:12 pm

All these flashy constructions in Dubai are built out of slave labor. The laborers are treated like dirt. They make them work countless hours in the heat, they live in pitiful conditions and get paid badly.

About the increase of crude oil prices going up like mad I suppose that it is because the demand is going higher with countries like China and India consuming more and more and not producing or maybe only very little. I am not sure if the supplies can follow. They say there is an unbelievably huge amount of crude oil in Canada in Alberta and Saskatchewan that is still waiting to be drilled.

Quoting Falstaff (Reply 12):

Quoting BMIFlyer (Reply 11):
The "Palm" in Dubai. So big it can be seen from Space

Where are the green freaks protesting this massive thing? You could never build anything like that in the USA.

There was a better way to fly it was called Concorde
 
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moo
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 9:13 pm



Quoting Andrej (Reply 44):
1 US gallon = 3.78541178 litres

Which would mean that us in the UK are paying (according to my local petrol station) around $7.85 a US gallon.
 
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falstaff
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 9:16 pm



Quoting Moo (Reply 46):
Which would mean that us in the UK are paying (according to my local petrol station) around $7.85 a US gallon.

That is outrageous. I hope those in the UK are getting something good for all the taxes they pay. If they are not they are really getting screwed.
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panam330
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 9:37 pm



Quoting Moo (Reply 46):
Which would mean that us in the UK are paying (according to my local petrol station) around $7.85 a US gallon.

That may be, but at least you guys have the option of some form of public transportation. We don't have jack (unless you live in NY or SF).
 
vc10
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RE: Record High Oil Price - Over $109 Barrel.....

Tue Mar 11, 2008 9:37 pm

I have just filled up [because I had to] with diesel and it cost £ 1.17 per litre , which equates to something like $8.05 per US gal.

Tomorrow our government intends to add another 2 pence per litre on fuel in taxes. All to help the environment your understand.

This price hike has something to do with the decline of the dollar, but as the value of the euro has gone up surely the price of fuel in the euro zone will have stayed steady or perhaps only slightly gone up. Is this the case


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Special Paint Schemes Aircraft painted in beautiful and original liveries

Airport Overviews Airport overviews from the air or ground

Tails and Winglets Tail and Winglet closeups with beautiful airline logos