Oil Is Up $5.58 at $91.85 Per Barrel

[Rakhmetov]

In just a few hours it is up 7%. Wow. :tt1: This will break the back of the U.S. economy.

http://money.cnn.com/

[ʇsıɥɔɹɐuɐ ıɯɐbıɹo]

Meh, there are more expensive fluids than gasoline.

http://pogue.blogs.nytimes.com/2008/05/27/compared-to-other-liquids-gasoline-is-cheap/

Lipton Iced Tea, 16 oz @ $1.19 = $9.52 per gallon
Diet Snapple, 16 oz @ $1.29 = $10.32 per gallon
Gatorade, 20 oz @ $1.59 = $10.17 per gallon
Ocean Spray, 16 oz @ $1.25 = $10.00 per gallon
Evian water, 9 oz @ $1.49 = $21.19 per gallon (!)
Wite-Out, 7 oz @ $1.39 = $25.42 per gallon
Brake fluid, 12 oz @ $3.15 = $33.60 per gallon
Scope, 1.5 oz @ $0.99 = $84.48 per gallon
Pepto-Bismol, 4 oz @ $3.85 = $123.20 per gallon
Vicks NyQuil, 6 oz @ $8.35 = $178.13 per gallon
But here’s the kicker:
HP 02 Black Ink Cartridge, 16 ml $18 online = $4,294.58 per gallon.

[Mr.Awesome]

Meh, there are more expensive fluids than gasoline.

http://pogue.blogs.nytimes.com/2008/05/27/compared-to-other-liquids-gasoline-is-cheap/

Do you really need a gallon of printer ink though?
Or of any of those liquids for that matter :blushing:

Taking into account how much of the liquid you will need, oil is more expensive.

[Lord Testicles]

Meh, there are more expensive fluids than gasoline.

http://pogue.blogs.nytimes.com/2008/05/27/compared-to-other-liquids-gasoline-is-cheap/

Yeah, but you don't fill your car up with Lipton Iced Tea or Ocean Spray, and if the price of Diet Snapple was to rise it wouldn't have an effect on whether you can afford to drive into work today.

[ʇsıɥɔɹɐuɐ ıɯɐbıɹo]

Yeah, but you don't fill your car up with Lipton Iced Tea or Ocean Spray

Damn it now you tell me!

:p Kay I know but my point is that gasoline isn't a boogeyman for economists to be afraid of.

[castlebravo]

:p Kay I know but my point is that gasoline isn't a boogeyman for economists to be afraid of.[/QUOTE]

yeah, but the current economy is almost (still) completely based on oil and gasoline. transporting goods, going to work for most people, heating, electricity, tons of various other important economic activities are still governed by the supply of oil. oil futures are flying up; lets see how/if this hits the economy :)

[StalinFanboy]

Damn it now you tell me!

:p Kay I know but my point is that gasoline isn't a boogeyman for economists to be afraid of.

wat


our entire economy runs off of oil products.

[bcbm]

glad i filled up yesterday

[StalinFanboy]

me too lol. gonna fill up this five gallon tank i have too.

[Blackscare]

Damn it now you tell me!

:p Kay I know but my point is that gasoline isn't a boogeyman for economists to be afraid of.

Are you fucking kidding me? LOLOLOLOLOL

[Decolonize The Left]

glad i filled up yesterday

You may want to stock up further. This post (http://www.revleft.com/vb/showpost.php?p=2029978&postcount=391) indicates that Gaddafi ordered the destruction of the oil fields.. look for a much larger jump in prices soon. You can also look for an involvement of NATO, if not individual Western nation-states in order to secure these resources.

- August

[bcbm]

if shit gets that bad i'll just ride my bike or take the bus

[Hoplite]

What'll be really fun is when the prices for other petroleum products start going up.

Breakdown of the use of a barrel of oil in the US.
http://upload.wikimedia.org/wikipedia/commons/4/45/Usesofpetroleum.png
Source: http://tonto.eia.doe.gov/dnav/pet/pet_pnp_pct_dc_nus_pct_m.htm

Diesel fuel prices go up, cost of food goes up.

Weeeee economic freefall!

[Toppler]

Thank you Russia for providing my country, Slovakia, with oil and gas ;).

[castlebravo]

crude prices nearing $100 now. let's see if it breaks through.

[Lord Testicles]

What'll be really fun is when the prices for other petroleum products start going up.


I think we have different definitions of fun. If the price of food rises, I don't think anyone will think it is fun. Oil is between $99\barrel and $111\barrel at the moment.

http://www.bbc.co.uk/news/business/market_data/commodities/143908/intraday.stm

[Hoplite]

I think we have different definitions of fun. If the price of food rises, I don't think anyone will think it is fun. Oil is between $99\barrel and $111\barrel at the moment.

http://www.bbc.co.uk/news/business/market_data/commodities/143908/intraday.stm
I was being sarcastic.

I'm never excited to see the prices on these kinds of things rise because they NEVER come back down. The manufacturers figure "Well, they're already paying this price for our stuff, let's keep charging it." even when things do recover.

[Pretty Flaco]

In just a few hours it is up 7%. Wow. :tt1: This will break the back of the U.S. economy.

http://money.cnn.com/

Are you fucking serious? Break the back of the US economy and you also break the backs of hundreds of millions of people, even those outside of the United States.

[StalinFanboy]

Are you fucking serious? Break the back of the US economy and you also break the backs of hundreds of millions of people, even those outside of the United States.

Revolution can only take place in a halted economy.

[Metacomet]

Don't drive, so not terribly concerned about that aspect, but heating oil is getting ridiculous.

Good thing Hugo sells it cheap............

[Rusty Shackleford]

luckily my work is a 7 minute drive from my home.

[CynicalIdealist]

http://www.cepr.net/index.php/blogs/beat-the-press/overplaying-the-impact-of-oil-prices