Oil at $86.00 a barrel

[banquo's_bumble_puppy]

Didn't someone say that things should get interesting at around $100.00/barrel? By interesting I mean....bad.

[Doodler]

Not so bad, really. The oil companies in the US seem to be taking the hint from the backlash of the public and gas prices haven't noticably spiked that I've seen. Still well under the $3 dollar mark here in the DC suburbs.

[Argos]

A $100 per barrel oil could trigger inflation, which could trigger interest rates hike, which could trigger a recession. Not the best of worlds.

[Chuck]

Better stock up now while it's cheap. Save your Pepsi bottles and peanut butter jars to use as containers.

[Damien Evans]

Better stock up now while it's cheap. Save your Pepsi bottles and peanut butter jars to use as containers.

Or, better yet, 44 gallon drums

[peteshimmon]

Now if everyone starts stocking up now...

Pity the damn stuff doesn't grow on trees!

[Neverfly]

Now if everyone starts stocking up now...

Pity the damn stuff doesn't grow on trees!

It does grow on trees. It just has a very lang aging period- longer than cheese even.

[peteshimmon]

Mmmm...is that why some sing Ald Lang Syne?:)

[Tucson_Tim]

It does grow on trees. It just has a very long aging period- longer than cheese even.

According to this post in another thread, this may not be true:

http://www.bautforum.com/space-exploration/65943-getting-oil-out-asteroids.html#post1090381

[Trebuchet]

Not so bad, really. The oil companies in the US seem to be taking the hint from the backlash of the public and gas prices haven't noticably spiked that I've seen. Still well under the $3 dollar mark here in the DC suburbs.

Barely under $3 for regular here, over for the higher grades. And as the TV news people point out ad infinitum, this is the time of year when the price normally comes down.

[Van Rijn]

Adjusting for inflation, prices in '79 were around $100-101, so if we got to that price and maintained it, then we would match historical high prices. I'm actually hoping for somewhat higher prices, if they last - I think we would then get serious again about moving away from oil, and this time, we might actually do it.

[KaiYeves]

Gosh, all of my cross country training may pay off. Who knew?

[phaishazamkhan]

Gosh, all of my cross country training may pay off. Who knew?

Cyan is nigh-unreadable on white.

[Dragon Star]

Gas here is as cheap as I've seen it in a while...down to $2.50's for reg and $2.70's for mid-grade.

[DyerWolf]

The nice thing about high crude prices is that people are investing in alternative energy sources.

The bad thing is that Iran and others have massive cash reserves.

There has been very little other impact on the world economy.

[mike alexander]

Adjusting for inflation, I have a 32" waist.

Compared to being flogged with a military cat o' nine tails, breaking my toe on the table leg is pure heaven.

Looking at inflation-adjusted prices can feel good until you line them up with inflation-adjusted earnings.

[Ronald Brak]

The bad thing is that Iran and others have massive cash reserves.

Say what? Iran continually runs budget deficits. One reason is massive state subsidies that total over 7% of GDP. Also, as a result of their young population they have a rapidly expanding labour force that is resulting in increasing unemplyment. Hopefully macro and micro economic reform will be introduced that will go some way to aleviateing the problem, but in the short term at least they, and several other major oil producing nations, appear to be depending on high commodity prices, which is a very risky strategy. Fingers crossed they don't have a financial blowout coming down the road.

[Kaptain K]

Cyan is nigh-unreadable on white.
Simply click and drag your cursor across the offending font.

[Gillianren]

Simply click and drag your cursor across the offending font.

I just didn't bother reading it.