$3.40 a gallon for gas
05-04-2007, 02:59 PM
#31
Rennlist Member
I was in San Francisco last night and saw 3 stations, Shell and two Cheveron with Premuim at 3.97 and 3.94.... Looks like 4.00 by summer! To think I sold my old Mercedes Diesel last year because I was tired of paying over 3 bucks a gallon 
05-04-2007, 03:12 PM
#32
Addict
Rennlist Member
Rennlist Member
Look at the positive side...more people may be selling their sports cars....including 928s. Buyers market! Woo hoo!
BTW, I need to sell one of my Pcars. Uh oh!
H2
BTW, I need to sell one of my Pcars. Uh oh!
H2
05-04-2007, 05:28 PM
#34
Three Wheelin'
Originally Posted by Dan87951
And the best part is we can't do anything about it. We are at the mercy of the corps..
"USO" is the symbol for the exchange-traded "US Oil fund" which seeks to track the price of West Texas Intermediate crude. Now, there are reasonable arguments why WTI might not be the best benchmark for world oil prices (and more importantly the correlation with gasoline prices at the pump), but that's the topic for another conversation.
There's around half a gallon of gasoline made from a gallon of crude oil. If you take the # of gallons of gasoline you expect to use in a year, multiply it by 2, and then divide by 42 (there's 42 gallons in a barrel of oil), you get in the (VERY) rough ballpark of how many shares you would need to buy in USO to offset your gasoline usage.
This way, as oil prices rise, and gas prices follow proportionately (approximately), your increased fuel costs are offset by the profits you're making by holding USO shares, less transaction costs and taxes.
For example: I drive around 250 miles a week, which times 52 weeks equals around 13k/year. Many leases give between 12k-15k miles/year, so this seems reasonable. I get around 15 mpg. 13k/15 = 866 gallons per year. 866x2= 1773. 1773/42 = 41 shares. 41 shars at $48 = $1980. The trade at an online discount broker costs around 10 bucks.
For less that the cost of timing belt service at a reputable shop, you can pretty much insulate yourself from rising oil prices in perpetuity.
It's really not a hard concept, and nobody needs to play the victim...oh, those big bad corporations, screwing the little guy. Puhleeeeze.
If you can't afford gas, you shouldn't drive a 928. If you can't afford to offset potential price increases by hedging, you probably shouldn't be driving a 928 either. If you think there's a big consipacy in which corporations (particularly energy companies) band together to screw the consumer...
I bet there are people on this board who spend more at Starbucks or on beer over the course of a year.
http://www.unitedstatesoilfund.com/
http://www.energy.ca.gov/gasoline/wh...arrel_oil.html
05-04-2007, 05:33 PM
#35
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Originally Posted by sharkmeister85
....Vancouver, B.C. and its surrounding 'burbs. Prices have been about $4.25 /gal U.S equivalent. 
Glenn
Glenn
Shane D
05-04-2007, 05:47 PM
#36
Three Wheelin'
The cost of a barrel of oil is set by the marketplace. There are exchanges all over the world in which you can trade futures, and many terminals where you could take delivery of the oil you purchased, should you so desire. Pricing is affected by supply and demand, but also the tensions between anticipated supply and demand, both at the present moment in time (spot price) and in the future. Billions of dollars of contracts are traded daily; it's one of the most liquid and active marketplaces on the planet.
The price for oil at any moment reflects a number of factors: Price to extract the oil, quality of oil, shipping, storage, and refining costs, and the exchange rate between your local currency and the dollar (oil futures, AFAIK, are denominated in dollars everywhere). The current price of oil is also reflective of the collective decisions of market participants--i.e., is oil expected to be more plentiful or scarce in the immediate future to longer term.
Oil has had to rise in price as the dollar has declined, just to keep its "value" constant. Oil, priced in other currencies, has not risen nearly as much.
For those who live in countries with liberal social welfare programs, those programs are largely funded (unfortunately for their drivers) by taxes on fuel. Not to mention the unintended consequences (e.g., Germany, France) of high unemployment rates that generous entitlements foster by disincentivizing its citizens to work.
If you could buy a gallon of gas in Midland Texas for $3.00, and sell it in Helsinki for $6.00, with all else being equal, then anyone with any brains would buy all they could at the lower price (driving up the price) and flooding the local Helsinki gas stataions (lowering the price) until there was pricing equilibrium (less the shipping costs to get it from Texas to Finland).
This is called arbitrage--a riskless profit opportunity by taking advantage of pricing differentials between two markets, using exactly the same standardized commodity. Buy low, sell high. Prices eventually converge. Therefore, persistent price differentials between two markets are explained by something other than the cost of the raw good + storage/shipping. That difference is tax, or the relative value of that country's currency compared to the dollar, and whether it's moving higher or lower.
There is no price fixing of oil. You can hedge yourself. You can bitch to your government to stop taxing the hell out of it. But it's not the fault of big business or energy companies. Scapegoating is the sissy way out.
The price for oil at any moment reflects a number of factors: Price to extract the oil, quality of oil, shipping, storage, and refining costs, and the exchange rate between your local currency and the dollar (oil futures, AFAIK, are denominated in dollars everywhere). The current price of oil is also reflective of the collective decisions of market participants--i.e., is oil expected to be more plentiful or scarce in the immediate future to longer term.
Oil has had to rise in price as the dollar has declined, just to keep its "value" constant. Oil, priced in other currencies, has not risen nearly as much.
For those who live in countries with liberal social welfare programs, those programs are largely funded (unfortunately for their drivers) by taxes on fuel. Not to mention the unintended consequences (e.g., Germany, France) of high unemployment rates that generous entitlements foster by disincentivizing its citizens to work.
If you could buy a gallon of gas in Midland Texas for $3.00, and sell it in Helsinki for $6.00, with all else being equal, then anyone with any brains would buy all they could at the lower price (driving up the price) and flooding the local Helsinki gas stataions (lowering the price) until there was pricing equilibrium (less the shipping costs to get it from Texas to Finland).
This is called arbitrage--a riskless profit opportunity by taking advantage of pricing differentials between two markets, using exactly the same standardized commodity. Buy low, sell high. Prices eventually converge. Therefore, persistent price differentials between two markets are explained by something other than the cost of the raw good + storage/shipping. That difference is tax, or the relative value of that country's currency compared to the dollar, and whether it's moving higher or lower.
There is no price fixing of oil. You can hedge yourself. You can bitch to your government to stop taxing the hell out of it. But it's not the fault of big business or energy companies. Scapegoating is the sissy way out.
Last edited by bd0nalds0n; 05-04-2007 at 10:17 PM.
05-04-2007, 05:57 PM
#38
Nordschleife Master
Do you work for the devil (oil companies)? 
Originally Posted by bd0nalds0n
Nonsense.
"USO" is the symbol for the exchange-traded "US Oil fund" which seeks to track the price of West Texas Intermediate crude. Now, there are reasonable arguments why WTI might not be the best benchmark for world oil prices (and more importantly the correlation with gasoline prices at the pump), but that's the topic for another conversation.
There's around half a gallon of gasoline made from a gallon of crude oil. If you take the # of gallons of gasoline you expect to use in a year, multiply it by 2, and then divide by 42 (there's 42 gallons in a barrel of oil), you get in the (VERY) rough ballpark of how many shares you would need to buy in USO to offset your gasoline usage.
This way, as oil prices rise, and gas prices follow proportionately (approximately), your increased fuel costs are offset by the profits you're making by holding USO shares, less transaction costs and taxes.
For example: I drive around 250 miles a week, which times 52 weeks equals around 13k/year. Many leases give between 12k-15k miles/year, so this seems reasonable. I get around 15 mpg. 13k/15 = 866 gallons per year. 866x2= 1773. 1773/42 = 41 shares. 41 shars at $48 = $1980. The trade at an online discount broker costs around 10 bucks.
For less that the cost of timing belt service at a reputable shop, you can pretty much insulate yourself from rising oil prices in perpetuity.
It's really not a hard concept, and nobody needs to play the victim...oh, those big bad corporations, screwing the little guy. Puhleeeeze.
If you can't afford gas, you shouldn't drive a 928. If you can't afford to offset potential price increases by hedging, you probably shouldn't be driving a 928 either. If you think there's a big consipacy in which corporations (particularly energy companies) band together to screw the consumer...
I bet there are people on this board who spend more at Starbucks or on beer over the course of a year.
http://www.unitedstatesoilfund.com/
http://www.energy.ca.gov/gasoline/wh...arrel_oil.html
"USO" is the symbol for the exchange-traded "US Oil fund" which seeks to track the price of West Texas Intermediate crude. Now, there are reasonable arguments why WTI might not be the best benchmark for world oil prices (and more importantly the correlation with gasoline prices at the pump), but that's the topic for another conversation.
There's around half a gallon of gasoline made from a gallon of crude oil. If you take the # of gallons of gasoline you expect to use in a year, multiply it by 2, and then divide by 42 (there's 42 gallons in a barrel of oil), you get in the (VERY) rough ballpark of how many shares you would need to buy in USO to offset your gasoline usage.
This way, as oil prices rise, and gas prices follow proportionately (approximately), your increased fuel costs are offset by the profits you're making by holding USO shares, less transaction costs and taxes.
For example: I drive around 250 miles a week, which times 52 weeks equals around 13k/year. Many leases give between 12k-15k miles/year, so this seems reasonable. I get around 15 mpg. 13k/15 = 866 gallons per year. 866x2= 1773. 1773/42 = 41 shares. 41 shars at $48 = $1980. The trade at an online discount broker costs around 10 bucks.
For less that the cost of timing belt service at a reputable shop, you can pretty much insulate yourself from rising oil prices in perpetuity.
It's really not a hard concept, and nobody needs to play the victim...oh, those big bad corporations, screwing the little guy. Puhleeeeze.
If you can't afford gas, you shouldn't drive a 928. If you can't afford to offset potential price increases by hedging, you probably shouldn't be driving a 928 either. If you think there's a big consipacy in which corporations (particularly energy companies) band together to screw the consumer...
I bet there are people on this board who spend more at Starbucks or on beer over the course of a year.
http://www.unitedstatesoilfund.com/
http://www.energy.ca.gov/gasoline/wh...arrel_oil.html
05-04-2007, 06:05 PM
#39
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Seattle it's hard to find anything under 3.60 a gallon. Time to get the m/c out, 55 mpg looks pretty good about now..
The price of anything revolves around the cost to deliver it which revolves around the cost of fuel.
22 mpg on a 944 isn't bad, I feel sorry for the people who make their living off of delivering goods and services that require the use of large vehicles. Think you mileage is poor, guess what the large trucks get: about 8 mpg. that's some serious money...
The price of anything revolves around the cost to deliver it which revolves around the cost of fuel.
22 mpg on a 944 isn't bad, I feel sorry for the people who make their living off of delivering goods and services that require the use of large vehicles. Think you mileage is poor, guess what the large trucks get: about 8 mpg. that's some serious money...
05-04-2007, 06:46 PM
#40
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Rennlist Member
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Originally Posted by bd0nalds0n
This is called arbitrage--a riskless profit opportunity by taking advantage of pricing differentials between two markets, using exactly the same standardized commodity.
05-04-2007, 07:44 PM
#41
928 Collector
Rennlist Member
Rennlist Member
Originally Posted by Maybach_Man
its now 98 uk pence a litre over here $9.60 a gallon
Geoff
Geoff
05-04-2007, 09:56 PM
#43
Owns the Streets
Needs Camber
Lifetime Rennlist
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Needs Camber
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$3.09 for 93 octane in Joisey.
Took 15.2 gallons to top up and mix up the can of SeaFoam.
Time to get some carbon out and free up the injector pattern.
Took 15.2 gallons to top up and mix up the can of SeaFoam.
Time to get some carbon out and free up the injector pattern.
05-04-2007, 11:29 PM
#45
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Just checked the price in the UK and it hit 1 UK Pound for a liter.
Thats $10 a gallon +or- 50c.
Thats $10 a gallon +or- 50c.
__________________
Does it have the "Do It Yourself" manual transmission, or the superior "Fully Equipped by Porsche" Automatic Transmission?
George Layton March 2014
928 Owners are ".....a secret sect of quietly assured Porsche pragmatists who in near anonymity appreciate the prodigious, easy going prowess of the 928."
Does it have the "Do It Yourself" manual transmission, or the superior "Fully Equipped by Porsche" Automatic Transmission?
George Layton March 2014928 Owners are ".....a secret sect of quietly assured Porsche pragmatists who in near anonymity appreciate the prodigious, easy going prowess of the 928."