vision-master wrote:Gas up to $3.89 gal as of today, must be over $4 in places like Cali?
GASMON wrote:North West England - Diesel £1.42 / litre, Petrol £1.29 - £1.36 litre. No shocks for us anymore, we know & expect £1.50 - £1.60 soon.
Sunny day, park up & get the bikes out.
Gas
diemos wrote:kmann wrote:$142 to $38 range within a six month period cannot be justified by supply and demand alone.
Yes it can. Oil has a highly inelastic demand curve since it underlies all economic activity and there are no short-term substitutes. The minute that demand is one barrel per day over supply the bidding begins. Once the demand falls below supply the price collapses to the marginal cost of production.
kmann wrote:However the effect is significantly amplified by speculation. $142 to $38 range within a six month period cannot be justified by supply and demand alone.
kmann wrote:$142 was unjustified in '08 (as the subsequent crash to $38 showed) and $130 now is also unjustified, as the coming crash will also show.
yeahbut wrote:GASMON wrote:North West England - Diesel £1.42 / litre, Petrol £1.29 - £1.36 litre. No shocks for us anymore, we know & expect £1.50 - £1.60 soon.
Sunny day, park up & get the bikes out.
Gas
Zachary. Gas is over $6US/gallon in NZ. People are getting back on the trains and buses, public transport usage is up every month. Bring it on.
The IMF's research comes as a new Reuters poll of 32 major oil traders predicted on Wednesday that oil prices will soar above $130 a barrel by late 2011.
Repent wrote:The IMF's research comes as a new Reuters poll of 32 major oil traders predicted on Wednesday that oil prices will soar above $130 a barrel by late 2011.
Any bookies out there willing to bet it will be above $130 before the end of April to say nothing of the end of 2011.
yeahbut wrote:GASMON wrote:North West England - Diesel £1.42 / litre, Petrol £1.29 - £1.36 litre. No shocks for us anymore, we know & expect £1.50 - £1.60 soon.
Sunny day, park up & get the bikes out.
Gas
Zachary. Gas is over $6US/gallon in NZ. People are getting back on the trains and buses, public transport usage is up every month. Bring it on.
americandream wrote:Very little public transport out here in the sticks (most of the South Island ie)
What's with the Americanism, "gas", mate?
Repent wrote:Any bookies out there willing to bet it will be above $130 before the end of April to say nothing of the end of 2011.
That is not true. Sugarcane ethanol represents less than 18% of Brazil's energy consumption in the transportation sector. Even in Brazil, where the EROEI of ethanol production is seven times better than the US, oil provides over 70% of the energy in the transportation sector. And oil use in Brazil is growing, not diminishing. Meanwhile high sugar prices are pushing ethanol production down.pedalling_faster wrote:this raises the question - how much alcohol can be substituted ? well, in Brazil, the answer is 100% - they got a clue after the oil shocks in the 1970's & switched entirely, leveraging their natural advantage (tropical location) and sugarcane production.
sugarcane ethanol represented 17.6% of the country's total energy consumption by the transport sector in 2008, while gasoline represented 23.3% and diesel 49.2%
IMF warns oil growing scarce, more costlyThe International Monetary Fund warned Thursday that nations should brace for dwindling oil supplies that could drive prices skyward as demand increases, especially in emerging economies.
In the six months to July 2008, crude oil prices more than doubled to record highs over $147 a barrel in New York and London. The market crashed amid the global financial crisis but has since recovered on the back of powerful emerging-market economies such as China, India and Brazil -- where oil consumption is growing fast.
Brazil ethanol consumption to fall in 2011Ethanol consumption in Brazil should fall in the 2011/12 season as high sugar prices buoy prices of the fuel, making it less competitive than gasoline at filling stations, Datagro analysts said on Monday. The high price of sugar led most of the country's cane mills to favor production of the sweetener over ethanol in 2010/11, keeping supplies tight and prices firm. This trend should increase further in 2011.
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