$5 a gallon gas?! WTF...

Chris F. · #1 09-21-2005, 02:05 PM

CNN just posted an article that gas could go to $5 a gallon if Rita hits the gulf. This is horrible, talk about a way to ruin the economy.

Regardless, my thoughts are with the folks in the gulf...please heed the warnings and get out of town.

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somewhereinla · #2 09-21-2005, 02:27 PM

I wouldn't relly on CNN for any accurate news.

motordavid · #3 09-21-2005, 03:57 PM

Since I slightly recall sleeping/dozing through my Econ classes, I am no Xpert on the very complicated potential and current econ issues, macro or micro...I do read alot and try to keep informed, if for no other reason than the struggle to protect our lil'nestegg and prevent having to Ever go back to the Whipping Post, aka work.

I suspect that 'Cane Rita and others to come, will have some serious impact on the "energy situ" here in the US of A, and offer great opportunity for continued and increased speculative efforts by the gang(s) that seem to control energy supply, delivery, costs and prices. Thus, I suspect it will get much less fun before it gets "better", if ever, in my lifetime.

The talking heads on CNBC and some associated reading, do present a pretty good case for considerably higher energy costs which, after that "energy" is transported and consumed, seem to produce an exponential effect by the time Joe 6Pack buys gas, OR heats or lights his home or biz.

I suspect we will see considerable cost increases as there is nothing that I can think of product, packaging, transportation or service, that is Not dependent on energy and its associated costs and cost increases.

What does this all mean for us in the US? I have no freaking idea...if I did, I'd have my dough in different sectors and/or be loading up on gold or gasoline futures or maybe more ammo for the Glock and the Mossberg. (J/Kidding, sorta...)

I think the energy mess/morass Will have considerable effect on the econ and at least some effect on every consumer in the next several months/year. I do Not expect the "gov't" at any level, to come to grips with this nightmare and very complicated and convoluted issues. Congress and/or the boorUcrats are not anyone's friend, I guarantee it.

The offering of any estimates or prognostications, is withheld due to the fact that I, nor anyone I read or listen to, has a really good clue, either.

SoapBox switch turned off...jes'some food for thought and my 25Cts.
BR,md

broknlgs24 · #4 09-21-2005, 04:13 PM

Quote:

Originally Posted by Chris F.

CNN just posted an article that gas could go to $5 a gallon if Rita hits the gulf. This is horrible, talk about a way to ruin the economy.

Regardless, my thoughts are with the folks in the gulf...please heed the warnings and get out of town.

i just read on the National Weather Service's website that the wind speeds have hit 165mph and it's now a Category 5 Hurricane!

Hurricane Rita