Comments on: The Price of Oil Increases to $100 A Barrel For The First Time http://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/ Personal Finance Blog, Your Guide to Financial Fitness Thu, 09 Feb 2012 20:13:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Paulhttp://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/#comment-5442 Paul Tue, 08 Jan 2008 04:16:22 +0000 http://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/#comment-5442 And what is used to buy barrels of oil? US paper currency. And what is used to buy barrels of oil? US paper currency.

]]> By: Paulhttp://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/#comment-5441 Paul Tue, 08 Jan 2008 04:15:22 +0000 http://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/#comment-5441 Last thing Karkus, you mentioned inflation. Remember the 3% thing you figured? Can you define inflation in your own words? I wonder if this inflation thing has anything to do with all this...mmm? Remember folks, the US dollar used to be backed by gold. Not anymore. Gold will always be worth something, that is a historical fact. Gold does not go up and down. This is an illusion, just like oil. It's the value of the US dollar or any other dollar that determines the gold price. Gold prices historically goes up when the faith in the paper currency goes down....mmm just like oil vs paper currency. Last thing Karkus, you mentioned inflation. Remember the 3% thing you figured? Can you define inflation in your own words? I wonder if this inflation thing has anything to do with all this…mmm? Remember folks, the US dollar used to be backed by gold. Not anymore. Gold will always be worth something, that is a historical fact. Gold does not go up and down. This is an illusion, just like oil. It’s the value of the US dollar or any other dollar that determines the gold price. Gold prices historically goes up when the faith in the paper currency goes down….mmm just like oil vs paper currency.

]]> By: Paulhttp://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/#comment-5440 Paul Tue, 08 Jan 2008 03:49:32 +0000 http://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/#comment-5440 Oh by the way, in 2001 you could buy gold for about 250 US dollars and ounce, today it would take over 860 US dollars to buy that same amount of gold. That is pretty equivelent to oil using your calcs. So in golds eyes, the price of oil hasn't changesd at all. MMM..curious, but the paper money is affected, I wonder why Karkus. Maybe you could tell us? "The price of oil is not going up ? Very funny. Haha." -KarKus Next time do a little research and stop laughing at the truth. It's people like you that stay in the dark that cause these problems because you lack theknowledge and therefore cannot form an intelligent analysis, and there are millions of you...pretty scary, let's hope that you are the only one named Karkus. Happy spending. Oh by the way, in 2001 you could buy gold for about 250 US dollars and ounce, today it would take over 860 US dollars to buy that same amount of gold. That is pretty equivelent to oil using your calcs. So in golds eyes, the price of oil hasn’t changesd at all. MMM..curious, but the paper money is affected, I wonder why Karkus. Maybe you could tell us?

“The price of oil is not going up ? Very funny. Haha.” -KarKus

Next time do a little research and stop laughing at the truth. It’s people like you that stay in the dark that cause these problems because you lack theknowledge and therefore cannot form an intelligent analysis, and there are millions of you…pretty scary, let’s hope that you are the only one named Karkus. Happy spending.

]]> By: Paulhttp://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/#comment-5439 Paul Tue, 08 Jan 2008 03:22:36 +0000 http://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/#comment-5439 Karkus, you sir are a fool. Why are you using the Euro to determine this. Another piece of paper. Use the same logic, except figure in the value of gold. Alfred is correct. Karkus, you sir are a fool. Why are you using the Euro to determine this. Another piece of paper. Use the same logic, except figure in the value of gold. Alfred is correct.

]]> By: Karkushttp://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/#comment-5438 Karkus Mon, 07 Jan 2008 21:00:15 +0000 http://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/#comment-5438 The price of oil is not going up ? Very funny. Haha. Since 2003 oil has tripled from ~$30 to >$90 now. In that same 5 year period, the dollar vs Euro has gone from .96 to .68. That's a 29% decrease (a lot, but nowhere close to a 67 % decrease like Alfred would suggest). Even if you include inflation (~3% a year), you're still nowhere close. I've seen graphs of oil vs various other currencies. They all go UP. You can deny peak oil to yourself all you want, but that doesn't change the reality. The price of oil is not going up ? Very funny. Haha.

Since 2003 oil has tripled from ~$30 to >$90 now.
In that same 5 year period, the dollar vs Euro has gone from .96 to .68. That’s a 29% decrease (a lot, but nowhere close to a 67 % decrease like Alfred would suggest). Even if you include inflation (~3% a year), you’re still nowhere close.

I’ve seen graphs of oil vs various other currencies. They all go UP.

You can deny peak oil to yourself all you want, but that doesn’t change the reality.

]]> By: Alfredhttp://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/#comment-5437 Alfred Fri, 04 Jan 2008 21:33:19 +0000 http://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/#comment-5437 The price of of is NOT going up. The value of the dollar in international markets is going DOWN, so it simply takes more devalued bucks to buy a barrel of hydrocarbons. The price of of is NOT going up. The value of the dollar in international markets is going DOWN, so it simply takes more devalued bucks to buy a barrel of hydrocarbons.

]]> By: Karkushttp://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/#comment-5436 Karkus Fri, 04 Jan 2008 19:50:49 +0000 http://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/#comment-5436 Yes, the technology exists, but Americans keep wanting more power and size. If we made 100 hp cars with 0-60 in 10s respectable again (like it was 20 years ago), we could probably meet the new CAFE rules right now. The other problem is the cheap gas - yes, $3 is way cheap compared to Europe. US gasoline is heavily subsidized (i.e. not taxed nearly enough to pay for all the roads and environmental damage), so we have nothing to complain about even if it goes to $4-5 this year. Get used to it, and dump your SUV now while it's still worth something. The price of oil will keep going up (and be volatile). It's supply/demand now, instead of Cartel controlled. If you look at what SaudiArabia has said and done (or not done) in 2007, you'll realize they are no longer able to effectively control the price like they used to. And yes, so some tall/big people have trouble in some small cars, but I've heard from tall people that the Prius (midsize) actually works pretty well (as long as you sit in the front). I believe that Danes are now the tallest people on earth, yet they still buy the typically small European style cars. Try it sometime. Some won't work, but others will. Yes, the technology exists, but Americans keep wanting more power and size. If we made 100 hp cars with 0-60 in 10s respectable again (like it was 20 years ago), we could probably meet the new CAFE rules right now.

The other problem is the cheap gas – yes, $3 is way cheap compared to Europe. US gasoline is heavily subsidized (i.e. not taxed nearly enough to pay for all the roads and environmental damage), so we have nothing to complain about even if it goes to $4-5 this year. Get used to it, and dump your SUV now while it’s still worth something.

The price of oil will keep going up (and be volatile). It’s supply/demand now, instead of Cartel controlled. If you look at what SaudiArabia has said and done (or not done) in 2007, you’ll realize they are no longer able to effectively control the price like they used to.

And yes, so some tall/big people have trouble in some small cars, but I’ve heard from tall people that the Prius (midsize) actually works pretty well (as long as you sit in the front). I believe that Danes are now the tallest people on earth, yet they still buy the typically small European style cars. Try it sometime. Some won’t work, but others will.

]]> By: Erichttp://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/#comment-5435 Eric Fri, 04 Jan 2008 16:10:27 +0000 http://www.moneycrashers.com/the-price-of-oil-increases-to-100-a-barrel-for-the-first-time/#comment-5435 I believe the old saying about death and taxes should now include the price of oil going up. I believe the old saying about death and taxes should now include the price of oil going up.

]]>