Oil prices - What's the breaking point for you?

[repenttokyo]

my strategy: with my move to the states, my fuel costs will go down 30 percent, so there's no real crisis for me at this time.

[e34.535i.sport]

I'm praying for a miracle.

[repenttokyo]

Gotta drive that ///M5!

I work from home, so the car is to the gym only on a daily basis, the rest is pleasure driving and the occasional call from Commissioner Gordon.

[pundit]

At what point do you need to rethink your car/living expenses?

Apart from gas at the pump, increased oil prices will feed into transportation, food production and manufacturing costs across the board.

As we are now close to 'peak oil' (if not we're there already), oil prices are going to skyrocket over the next few years.

Currently at $120.00 per barrel, anaylists predict $200.00 per barrel by the end of 2009 and $300.00 per barrel by the end of 2010 and climbing.

As for the biofuel alternative; the increased production of biofuels is now seriously impacting on global food prices particularly in poor countries.

Coupled with the mortgage crisis, record debt and looming rescession what are your plans for long term economic survival?

Are you hoping it will all sort itself out and that oil will soon drop back under $100.00 per barrel (wishful thinking) or are you actively planning a strategy?

Who's looking at their E34 and wondering at what point they won't be able to afford to fill the tank.

So will you then leave it in the garage hoping that things will improve, or sell it before you can't give it away?

We are living in interesting times!

[BigKriss]

give her some LPG

[Qube]

It's still worth it... at home in Toronto, it's $1.19 a litre. In Montreal, I didn't even try to fill up at $1.34!

[BMWDriver]

It's beginning to worry me a bit. Indeed, everything's bound to go up in prices. My number one priority is food. The car can sit on the tar because I use public transit for work. But, I don't use it that much, so it's no real cause for stress.

Speculation seems to be the problem; I read in an article that buyers with strong currency begin to find petroleum more attractive because the American dollar keeps going down, so they are buying a lot and driving prices up.

A few are making a buck on our back without much regard for humanity's sake, or so one might think.

[Ferret]

You're lucky... it costs me $115.00 USD!!

Quit whining! In the UK it costs anything upto $160USD to fill an E34 gas tank!

[pundit]

... Speculation seems to be the problem; I read in an article that buyers with strong currency begin to find petroleum more attractive because the American dollar keeps going down, so they are buying a lot and driving prices up.

A few are making a buck on our back without much regard for humanity's sake, or so one might think.

Speculation is a big part of it without a doubt.

I think there will be a point where there will be an outcry over speculative trading of oil, (well there is now really) but will that really change the situation with Bush & Co?

You only have to look at the all the Republican Party 'oil men' to see that is unlikely to happen on their watch.

George is now putting the Alaskan wilderness back on the agenda.

There is still plenty of oil in the ground but it is getting harder to get it out and production costs are going up and up.

It's like gold a few years back; many gold mines had become unprofitable, now that the gold price has gone up in the past couple of years many mines have reopened.

[Phatty5BMW]

Since I did the front end rebuild with good ol Hamburg Technic, I still haven't gotten an alignment on my car yet (which i butchered) I have either been driving the van (which gets better mpg that my 535!! belive it or not) or I have been cruisin around my turbo bike That bike is soooo damn fun AND gets 50mpg.

-Pat