Bitcoin Forum
April 25, 2018, 03:40:00 PM *
News: Latest stable version of Bitcoin Core: 0.16.0  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: 1 2 3 [All]
  Print  
Author Topic: Gas Prices Falling in the US  (Read 5339 times)
bb113
Hero Member
*****
Offline Offline

Activity: 728
Merit: 500


View Profile
June 29, 2012, 10:08:45 AM
 #1

Does anyone have an explanation for this? Don't say Obama...
1524670800
Hero Member
*
Offline Offline

Posts: 1524670800

View Profile Personal Message (Offline)

Ignore
1524670800
Reply with quote  #2

1524670800
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1524670800
Hero Member
*
Offline Offline

Posts: 1524670800

View Profile Personal Message (Offline)

Ignore
1524670800
Reply with quote  #2

1524670800
Report to moderator
Electricbees
Sr. Member
****
Offline Offline

Activity: 322
Merit: 250


We are bees, and we hate you.


View Profile
June 29, 2012, 10:34:35 AM
 #2

Does anyone have an explanation for this? Don't say Obama...
Speculation over the Natural Gas boom?

Donations are welcome!
1BEES19ds5gEnRBoU1qNFPfjRXe94trMG3
cadillac
Newbie
*
Offline Offline

Activity: 27
Merit: 0


View Profile
June 29, 2012, 11:12:46 AM
 #3

Barack?
cbeast
Donator
Legendary
*
Offline Offline

Activity: 1736
Merit: 1000

Let's talk governance, lipstick, and pigs.


View Profile
June 29, 2012, 12:42:50 PM
 #4

Hussein

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
bb113
Hero Member
*****
Offline Offline

Activity: 728
Merit: 500


View Profile
June 29, 2012, 01:02:52 PM
 #5

deflation...   money supply is going down so the price is going down...

This is my interpretation as well, expecially since we are seeing a similar pattern in a number of commodities and stocks. I was hoping for someone more experienced to explain the recent cause of the deflation.
benjamindees
Legendary
*
Offline Offline

Activity: 1330
Merit: 1000


View Profile
June 29, 2012, 02:32:18 PM
 #6

Fracking.

They're fracking up our water supply.

Civil Liberty Through Complex Mathematics
silverbox
Legendary
*
Offline Offline

Activity: 952
Merit: 1000


View Profile
June 29, 2012, 02:45:16 PM
 #7

Its not deflation.  Its a supply and demand issue.  The supply isn't as low as was previously thought (fracking etc putting new oil into the supply).   The demand is lower because the price is high and the economic slowdown.  Also it seems the rampant speculation in oil that was artificially driving it up has tapered off somewhat.
juggalodarkclow
Legendary
*
Offline Offline

Activity: 980
Merit: 1000



View Profile
June 29, 2012, 03:16:26 PM
 #8

election year

notme
Legendary
*
Offline Offline

Activity: 1904
Merit: 1001


View Profile
June 29, 2012, 04:46:33 PM
 #9

All the Iran rumors drove it up in a time of waning demand.  Nothing happened and now all the reserves are full, so the market returned to reality from rumorville.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
bb113
Hero Member
*****
Offline Offline

Activity: 728
Merit: 500


View Profile
June 29, 2012, 08:49:41 PM
 #10

Ha,

Ok, so we have

1) Speculation due to news about alternative energy sources (natgas)
2) Trolls
3) Deflation due to banks paying off interest to other banks
4) Increased supply due to fracking, decreased demand due to deflation (see 3)
5) Election year... this basically means Obama, how so?
6) Speculation due to news about possible war with a major oil producing country which would influence future supply.

All of these are probably contributing factors, the deflation argument seems dominant to me just because other assets have been falling vs the USD for the last couple months as well. I still don't understand what the president of the US could be doing to have such a massive influence on oil prices.
cbeast
Donator
Legendary
*
Offline Offline

Activity: 1736
Merit: 1000

Let's talk governance, lipstick, and pigs.


View Profile
June 29, 2012, 10:20:58 PM
 #11

Are you kidding about the gas price being low? It does fluctuate. This is traveling season and if the price stays too high, people won't travel and businesses will fail. If businesses fail, then people won't be buying fuel. We've already seen a drop in fuel consumption over the last decade. The people profiteering off the war-based energy markets we have now are smart enough not to purposely kill the economy. This is the time of year they spend their 'hard earned' profits to vacation and give the slaves a short respite before they tighten up the bit again.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
bb113
Hero Member
*****
Offline Offline

Activity: 728
Merit: 500


View Profile
June 29, 2012, 10:26:47 PM
 #12



I remembered prices always rising in the summer, I guess the ramp up usually lasts until about May.
mystery2048
Member
**
Offline Offline

Activity: 70
Merit: 10


View Profile
June 30, 2012, 11:05:37 AM
 #13

People are using less gas...

Simple...

Less demand = less prices

I doubt the supply has increased much...

Important: https://bitcointalk.org/index.php?topic=92424.0;all

Donations: 1HWMQv2VYviAgpy6NWNvVg9JhKm4zcMGS5
stevegee58
Legendary
*
Offline Offline

Activity: 917
Merit: 1003



View Profile
June 30, 2012, 11:23:23 AM
 #14

It's Econ 101: supply and demand.

Energy prices in general have been falling, including gasoline.  Falling energy prices indicate declining demand for energy.  Energy demand is linked to economy activity and growth.  Global economic activity has decreased due to the financial crisis that came to a head in 2008.  As a result, global economic growth has basically stopped and the corresponding demand for energy has decreased.

Energy is used for manufacturing and transportation of goods.  If people aren't buying things then there's no need to make or transport them so energy demand goes down.

Gasoline's price action is not independent of energy in general.  It's linked directly to overall energy demand.

You are in a maze of twisty little passages, all alike.
stevegee58
Legendary
*
Offline Offline

Activity: 917
Merit: 1003



View Profile
June 30, 2012, 12:22:07 PM
 #15

I think you're overcomplicating it.  The USD is still the world's reserve currency in spite of reports of its demise.

Econ 101 doesn't change; supply and demand are 90+% of it.  Energy demand is linked to economic growth:  No growth = no energy demand.  Simple.

You are in a maze of twisty little passages, all alike.
pekv2
Hero Member
*****
Offline Offline

Activity: 770
Merit: 500



View Profile
June 30, 2012, 05:35:32 PM
 #16

Everytime that dimwit spoke on tv, I seen the gas prices jump. Had obama stopped speaking on tv lately?
mystery2048
Member
**
Offline Offline

Activity: 70
Merit: 10


View Profile
July 02, 2012, 09:19:09 AM
 #17

Oil isnt 100% neccesary for economic growth, certain things require more oil than others... Manufacturing for example... But as a general correlation at the moment, less growth could be related to less oil demand...

Important: https://bitcointalk.org/index.php?topic=92424.0;all

Donations: 1HWMQv2VYviAgpy6NWNvVg9JhKm4zcMGS5
Electricbees
Sr. Member
****
Offline Offline

Activity: 322
Merit: 250


We are bees, and we hate you.


View Profile
July 02, 2012, 02:42:19 PM
 #18

Regardless to cause, I'm lovin' the lack of pain at the pump. Driving 400 miles a week in a shitty sedan isn't cheap.

Until tax season. Grin

Donations are welcome!
1BEES19ds5gEnRBoU1qNFPfjRXe94trMG3
steelhouse
Hero Member
*****
Online Online

Activity: 714
Merit: 500


View Profile
July 02, 2012, 11:59:48 PM
 #19

It is not deflation!  It is the electric car.  They notice when gas prices go down, electric car sales stall.  Thus, they have to keep the prices down.
GernMiester
Sr. Member
****
Offline Offline

Activity: 285
Merit: 250


View Profile
July 03, 2012, 01:47:05 AM
 #20

Simply less demand and too much supply. Dont worry the oil companies and OPEC will slow production and drilling to make it go back up.
ITS WHAT THEY DO.
sethsethseth
Sr. Member
****
Offline Offline

Activity: 257
Merit: 250


Not trusting third parties with my private keys


View Profile
July 06, 2012, 06:07:07 AM
 #21

Gasoline prices will continue to fall.  The trucking industry, which accounts for 1/3 of all US oil consumption, can be converted to run on natural gas, and Obama has signed legislation to support this.  Natural gas can also be converted into oil very profitably at the current price ratio with GTL technology, and Shell and SASOL competing to build these facilities in the US.  Additionally, the price of solar panels has dropped by 75% in the last three years.  Solar is now competitive with daytime electricity rates, and it will continue to get cheaper.  But putting solar panels on roofs is just the tip of the iceberg.  By mid-century, most of our power will come from space.  Space-based solar panels are much more efficient as the sunlight is 5.5 times stronger in space, and the panels always operate at 100% with no night.  The power will get beamed to earth in the form of microwaves.  Private enterprise will lower the cost of space launch enough to undercut other methods of power generation.  Much to the environmentalist's delight, oil is on its way out.

SealsWithClubs poker room has  over 400 players online. Buy in from .01 to 60btc.      BTCSportsMatch lets you bet sports with vig free lines!  Best kept secret in bitcoin....          LocalBitcoins.com is very user-friendly now for bank transfers.  You don't have to live close to trade when in the same currency area.           
Electrum client is awesome. Try it. And please stop sending bitcoins to sites run by security newbies, or don't complain when you lose everything.
rebuilder
Legendary
*
Offline Offline

Activity: 1618
Merit: 1000



View Profile
July 06, 2012, 01:09:32 PM
 #22

Gasoline prices will continue to fall.  The trucking industry, which accounts for 1/3 of all US oil consumption, can be converted to run on natural gas, and Obama has signed legislation to support this.  Natural gas can also be converted into oil very profitably at the current price ratio with GTL technology, and Shell and SASOL competing to build these facilities in the US.  Additionally, the price of solar panels has dropped by 75% in the last three years.  Solar is now competitive with daytime electricity rates, and it will continue to get cheaper.  But putting solar panels on roofs is just the tip of the iceberg.  By mid-century, most of our power will come from space.  Space-based solar panels are much more efficient as the sunlight is 5.5 times stronger in space, and the panels always operate at 100% with no night.  The power will get beamed to earth in the form of microwaves.  Private enterprise will lower the cost of space launch enough to undercut other methods of power generation.  Much to the environmentalist's delight, oil is on its way out.

I recently read "Private Empire" ( http://www.amazon.co.uk/Private-Empire-ExxonMobil-American-Power/dp/1846146593/ref=sr_1_1?ie=UTF8&qid=1341579850&sr=8-1 ), which despite the name turned out to be a rather level-headed read. Among other interesting tidbits, it outlines Exxon's recent studies into the future of energy, namely, whether they should be looking at alternative energy sources seriously or not. Their conclusion was that everything that could threaten the status quo of fossil fuels as the main source of energy (overwhelmingly by the way, check out some stats for global energy production...) requires several near-miraculous discoveries in the near term.

Now, Exxon isn't exactly unbiased, but still, solar is so small now that even assuming yearly growth rates in the double digits, the industry will be hard pressed to gain more than a few percent of total global energy production within the next few decades, as energy consumption is projected to grow as well...

As for gas prices currently, the news outlets here say it's simply because of the global economic fubar. Consumption is down.

Selling out to advertisers shows you respect neither yourself nor the rest of us.
---------------------------------------------------------------
Too many low-quality posts? Mods not keeping things clean enough? Self-moderated threads let you keep signature spammers and trolls out!
bb113
Hero Member
*****
Offline Offline

Activity: 728
Merit: 500


View Profile
July 07, 2012, 01:36:50 AM
 #23

There is a difference between profitable to the individual and profitable to a large multi-national organization. I know personally that my energy usage could go way down without significantly affecting my quality of life... and I don't really use that much (relative to the stats I've seen from others). If people were generating their own electricity, and budgeting their activities accordingly, it is possible that "global energy usage" would drop dramatically.

Also, my understanding is that: global economics fubar = consumption down = USD deflation
mystery2048
Member
**
Offline Offline

Activity: 70
Merit: 10


View Profile
July 07, 2012, 06:40:29 PM
 #24

Its complex and its not always easy to value the dollar, but my opinion is that its mostly reduced demand causing the gas prices to fall at the moment...

Important: https://bitcointalk.org/index.php?topic=92424.0;all

Donations: 1HWMQv2VYviAgpy6NWNvVg9JhKm4zcMGS5
hashman
Hero Member
*****
Offline Offline

Activity: 976
Merit: 1000


Create Your Decentralized Life


View Profile
July 07, 2012, 08:05:25 PM
 #25

Deflation?  You mean deflation of the money supply?  Sounds unlikely, at least it sure would be unlikely if I had the keys to the printing presses Wink  OK perhaps deflation of that money supply which is drawn on by to the primary purchasers of gasoline, but even that I find difficult to believe. 

Much more likely in my opinion:  price fixing and backroom decisions based on political and generally boring goals (making some extremely rich people even richer).  The major public players in this market are the Pentagon, OPEC, Rockefellers.  Most likely there are some other major players I don't know about. 

If free market microeconomics dominate control of the price of gasoline, can you explain to me the price discrepancy between different European nations (E.g. Germany and Switzerland), between different American nations (e.g. between Venezuela and USA), or between different middle eastern or Asian gas stations?     

        ▄▄███████████▄▄      
     ▄██████▀▀▀▀▀▀▀██████▄   
    ████▀             ▀████▄ 
  ▄███▀    ▄▄▄████▄▄    ▀████
▐███     ██████████▀     ███▌
 ███▌    ██████▀▀        ▄███▌
▐███    ▐████▄      ▄▄▄██████▌
▐███▌  ▄████████▄▄██████████▀
████████▀█████████████▀▀▀   
  ████▌    ▀▀██████▀▀      ▄▄
   ▀████▄              ▄▄████▌
     ▀█████▄▄▄    ▄▄▄██████▀▀
       ▀▀██████████████▀▀    
             ▀▀▀▀▀▀          



        ▄▄███████████▄▄      
     ▄██████▀▀▀▀▀▀▀██████▄   
    ████▀             ▀████▄ 
  ▄███▀    ▄▄▄████▄▄    ▀████
▐███     ██████████▀     ███▌
 ███▌    ██████▀▀        ▄███▌
▐███    ▐████▄      ▄▄▄██████▌
▐███▌  ▄████████▄▄██████████▀
████████▀█████████████▀▀▀   
  ████▌    ▀▀██████▀▀      ▄▄
   ▀████▄              ▄▄████▌
     ▀█████▄▄▄    ▄▄▄██████▀▀
       ▀▀██████████████▀▀    
             ▀▀▀▀▀▀          
Raw235
Newbie
*
Offline Offline

Activity: 20
Merit: 0



View Profile
July 09, 2012, 09:42:31 PM
 #26

That's because the oil prices are falling, due to lower demand.

Hey there!
bb113
Hero Member
*****
Offline Offline

Activity: 728
Merit: 500


View Profile
July 12, 2012, 10:59:16 AM
 #27

Deflation?  You mean deflation of the money supply?  Sounds unlikely, at least it sure would be unlikely if I had the keys to the printing presses Wink  OK perhaps deflation of that money supply which is drawn on by to the primary purchasers of gasoline, but even that I find difficult to believe.  

Much more likely in my opinion:  price fixing and backroom decisions based on political and generally boring goals (making some extremely rich people even richer).  The major public players in this market are the Pentagon, OPEC, Rockefellers.  Most likely there are some other major players I don't know about.  

If free market microeconomics dominate control of the price of gasoline, can you explain to me the price discrepancy between different European nations (E.g. Germany and Switzerland), between different American nations (e.g. between Venezuela and USA), or between different middle eastern or Asian gas stations?      

Looks like the difference is 90% due to taxes and subsides... do you have a good dataset containing historical gas prices for multiple countries? Also in terms of macroeconimics: Why do all of these lines look so similar?





Perhaps rising gas cost increases commodity shipping and mining costs?
unclemantis
Member
**
Offline Offline

Activity: 98
Merit: 10


(:firstbits => "1mantis")


View Profile
July 15, 2012, 11:12:23 AM
 #28

Gas is RISING again!

PHP, Ruby, Rails, ASP, JavaScript, SQL
20+ years experience w/ Internet Technologies
Bitcoin OTC | GPG Public Key                                                                               thoughts?
TruSteve84
Newbie
*
Offline Offline

Activity: 23
Merit: 0


View Profile
July 15, 2012, 11:23:04 AM
 #29

I love these gas prices!  its time to start drivin the v8 again  Cheesy
unclemantis
Member
**
Offline Offline

Activity: 98
Merit: 10


(:firstbits => "1mantis")


View Profile
July 15, 2012, 12:37:07 PM
 #30

I love these gas prices!  its time to start drivin the v8 again  Cheesy

You are showing your age. I remember when gas was under $2 a gallon!

PHP, Ruby, Rails, ASP, JavaScript, SQL
20+ years experience w/ Internet Technologies
Bitcoin OTC | GPG Public Key                                                                               thoughts?
unclemantis
Member
**
Offline Offline

Activity: 98
Merit: 10


(:firstbits => "1mantis")


View Profile
July 15, 2012, 01:24:43 PM
 #31

BTC
Does anyone have an explanation for this? Don't say Obama...

PHP, Ruby, Rails, ASP, JavaScript, SQL
20+ years experience w/ Internet Technologies
Bitcoin OTC | GPG Public Key                                                                               thoughts?
notme
Legendary
*
Offline Offline

Activity: 1904
Merit: 1001


View Profile
July 15, 2012, 04:52:31 PM
 #32

I love these gas prices!  its time to start drivin the v8 again  Cheesy

You are showing your age. I remember when gas was under $2 a gallon!

You're making me feel old because I do too.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
TruSteve84
Newbie
*
Offline Offline

Activity: 23
Merit: 0


View Profile
July 15, 2012, 05:05:31 PM
 #33

I love these gas prices!  its time to start drivin the v8 again  Cheesy

You are showing your age. I remember when gas was under $2 a gallon!
Lol??
I stopped driving it when it was close to $4
stevegee58
Legendary
*
Offline Offline

Activity: 917
Merit: 1003



View Profile
July 15, 2012, 07:40:48 PM
 #34

I love these gas prices!  its time to start drivin the v8 again  Cheesy

You are showing your age. I remember when gas was under $2 a gallon!

Let me show my age.  I remember when gas was less than $1/gallon.

I also remember when gas first went over $1/gallon:  People were totally freaked out and thought the world was ending.

You are in a maze of twisty little passages, all alike.
unclemantis
Member
**
Offline Offline

Activity: 98
Merit: 10


(:firstbits => "1mantis")


View Profile
July 16, 2012, 03:34:31 AM
 #35

I love these gas prices!  its time to start drivin the v8 again  Cheesy

You are showing your age. I remember when gas was under $2 a gallon!

Let me show my age.  I remember when gas was less than $1/gallon.

I also remember when gas first went over $1/gallon:  People were totally freaked out and thought the world was ending.

My hats off to you sir!

FILL'ER'UP!

PHP, Ruby, Rails, ASP, JavaScript, SQL
20+ years experience w/ Internet Technologies
Bitcoin OTC | GPG Public Key                                                                               thoughts?
Electricbees
Sr. Member
****
Offline Offline

Activity: 322
Merit: 250


We are bees, and we hate you.


View Profile
July 21, 2012, 11:23:32 PM
 #36

I remember when I bought a bike and stopped driving almost anywhere besides work. Best expenditure ever.

Extremely on topic side-note; Gas is back up again, and it's ridiculous.

Donations are welcome!
1BEES19ds5gEnRBoU1qNFPfjRXe94trMG3
aqrulesms
Sr. Member
****
Offline Offline

Activity: 308
Merit: 250



View Profile
July 25, 2012, 06:26:46 PM
 #37

Gas prices are completely accountable for.  I mean look, if you look at it, oil prices are extremely low compared to 40+ years ago.

Just 10 years ago, 1 oz of gold could pay for ~250 gallons, while 1 oz of gold can now pay for upwards of 500 gallons.

Also as we all know, gold is what truly sets the price.

The reason we have rising gas prices is due to a inflationary US dollar from overprinting and nothing truly backing it up, such as gold.

In fact, if you base oil on gold completely as the trading currency, gas prices would have to be above $6.50 a gallon to truly justify the inflation of the US dollar.

We're quite lucky for having the prices this low at the moment.

                             █         
                             ▀██       
                              ███▄     
                              █████     
                 ▄██████████   █████   
            ▄███████████████   █████▄   
         ▄██████████████████   ██████   
       █████████████████████  ███████   
     ██████████████████████   ████████ 
   ▄████████▀                █████████ 
  ██████    ▄██████         ██████████ 
 ███▀    ▄██████████      ███████████   
██       ████████████    ████████████   
          █████████████   ██████████   
            █████████████   ███████     
              █████████████▄    ██▀     
                 ██████████████         
                    ▀███████████████▄   
                          ▀███████████▀

FLUX 

  VALVE      UBISOFT     GAMING ECOSYSTEM      Origin      GAMELOFT 
                   WEBSITE WHITEPAPER MEDIUM TWITTER FACEBOOK TELEGRAM █       


  17 - 24 April
   Public Sale
mrbubl3s
Sr. Member
****
Offline Offline

Activity: 291
Merit: 250


Professional Ameteur


View Profile
July 26, 2012, 01:12:37 AM
 #38

Does anyone have an explanation for this? Don't say Obama...

This happens every time a presidential election is coming up.
cryptoanarchist
Legendary
*
Offline Offline

Activity: 1106
Merit: 1000



View Profile
July 26, 2012, 04:24:28 PM
 #39

Seems to me the price of gas has been going down for years...but that's because I price things in silver.  Wink
aqrulesms
Sr. Member
****
Offline Offline

Activity: 308
Merit: 250



View Profile
July 27, 2012, 02:28:08 AM
 #40

Seems to me the price of gas has been going down for years...but that's because I price things in silver.  Wink

Exactly my point  Wink

Not to mention oil and natural gas probably doesn't come from 100 million year old dinosaurs.  That's a little far fetched since they would decompose to nothing.

http://www.sciencedaily.com/releases/2009/11/091104123032.htm

Also there's a crapload of natural gas in OCEANS on Titan, a moon of Saturn, due to the low temperatures allowing the gas to liquify. There was no life there, was there?


                             █         
                             ▀██       
                              ███▄     
                              █████     
                 ▄██████████   █████   
            ▄███████████████   █████▄   
         ▄██████████████████   ██████   
       █████████████████████  ███████   
     ██████████████████████   ████████ 
   ▄████████▀                █████████ 
  ██████    ▄██████         ██████████ 
 ███▀    ▄██████████      ███████████   
██       ████████████    ████████████   
          █████████████   ██████████   
            █████████████   ███████     
              █████████████▄    ██▀     
                 ██████████████         
                    ▀███████████████▄   
                          ▀███████████▀

FLUX 

  VALVE      UBISOFT     GAMING ECOSYSTEM      Origin      GAMELOFT 
                   WEBSITE WHITEPAPER MEDIUM TWITTER FACEBOOK TELEGRAM █       


  17 - 24 April
   Public Sale
mrbubl3s
Sr. Member
****
Offline Offline

Activity: 291
Merit: 250


Professional Ameteur


View Profile
July 28, 2012, 06:02:17 AM
 #41

Seems to me the price of gas has been going down for years...but that's because I price things in silver.  Wink

Exactly my point  Wink

Not to mention oil and natural gas probably doesn't come from 100 million year old dinosaurs.  That's a little far fetched since they would decompose to nothing.

http://www.sciencedaily.com/releases/2009/11/091104123032.htm

Also there's a crapload of natural gas in OCEANS on Titan, a moon of Saturn, due to the low temperatures allowing the gas to liquify. There was no life there, was there?



I tl;dr the URL, though many years ago Titan was somewhere else. There could have been life there at some point.
myrkul
Hero Member
*****
Offline Offline

Activity: 532
Merit: 500


FIAT LIBERTAS RVAT CAELVM


View Profile WWW
July 28, 2012, 07:05:36 AM
 #42

this:
I tl;dr the URL
Is probably the reason for this...
many years ago Titan was somewhere else.

lern 2 science.

BTC1MYRkuLv4XPBa6bGnYAronz55grPAGcxja
Need Dispute resolution? Public Key ID: 0x11D341CF
No person has the right to initiate force, threat of force, or fraud against another person or their property. VIM VI REPELLERE LICET
aqrulesms
Sr. Member
****
Offline Offline

Activity: 308
Merit: 250



View Profile
July 28, 2012, 10:52:28 PM
 #43

Seems to me the price of gas has been going down for years...but that's because I price things in silver.  Wink

Exactly my point  Wink

Not to mention oil and natural gas probably doesn't come from 100 million year old dinosaurs.  That's a little far fetched since they would decompose to nothing.

http://www.sciencedaily.com/releases/2009/11/091104123032.htm

Also there's a crapload of natural gas in OCEANS on Titan, a moon of Saturn, due to the low temperatures allowing the gas to liquify. There was no life there, was there?



I tl;dr the URL, though many years ago Titan was somewhere else. There could have been life there at some point.

There could have been life on Jupiter, Saturn, and Neptune too right? They actually have a significant amount of natural gas in their atmospheres too.

Also if you read the article, you would clearly find that natural gas can result from purely abiotic chemical reactions.

Natural gas can also be strung together into higher chains of hydrocarbons from heat and pressure.


                             █         
                             ▀██       
                              ███▄     
                              █████     
                 ▄██████████   █████   
            ▄███████████████   █████▄   
         ▄██████████████████   ██████   
       █████████████████████  ███████   
     ██████████████████████   ████████ 
   ▄████████▀                █████████ 
  ██████    ▄██████         ██████████ 
 ███▀    ▄██████████      ███████████   
██       ████████████    ████████████   
          █████████████   ██████████   
            █████████████   ███████     
              █████████████▄    ██▀     
                 ██████████████         
                    ▀███████████████▄   
                          ▀███████████▀

FLUX 

  VALVE      UBISOFT     GAMING ECOSYSTEM      Origin      GAMELOFT 
                   WEBSITE WHITEPAPER MEDIUM TWITTER FACEBOOK TELEGRAM █       


  17 - 24 April
   Public Sale
sethsethseth
Sr. Member
****
Offline Offline

Activity: 257
Merit: 250


Not trusting third parties with my private keys


View Profile
August 09, 2012, 02:48:02 PM
 #44

Gasoline prices will continue to fall.  The trucking industry, which accounts for 1/3 of all US oil consumption, can be converted to run on natural gas, and Obama has signed legislation to support this.  Natural gas can also be converted into oil very profitably at the current price ratio with GTL technology, and Shell and SASOL competing to build these facilities in the US.  Additionally, the price of solar panels has dropped by 75% in the last three years.  Solar is now competitive with daytime electricity rates, and it will continue to get cheaper.  But putting solar panels on roofs is just the tip of the iceberg.  By mid-century, most of our power will come from space.  Space-based solar panels are much more efficient as the sunlight is 5.5 times stronger in space, and the panels always operate at 100% with no night.  The power will get beamed to earth in the form of microwaves.  Private enterprise will lower the cost of space launch enough to undercut other methods of power generation.  Much to the environmentalist's delight, oil is on its way out.

I recently read "Private Empire" ( http://www.amazon.co.uk/Private-Empire-ExxonMobil-American-Power/dp/1846146593/ref=sr_1_1?ie=UTF8&qid=1341579850&sr=8-1 ), which despite the name turned out to be a rather level-headed read. Among other interesting tidbits, it outlines Exxon's recent studies into the future of energy, namely, whether they should be looking at alternative energy sources seriously or not. Their conclusion was that everything that could threaten the status quo of fossil fuels as the main source of energy (overwhelmingly by the way, check out some stats for global energy production...) requires several near-miraculous discoveries in the near term.

Now, Exxon isn't exactly unbiased, but still, solar is so small now that even assuming yearly growth rates in the double digits, the industry will be hard pressed to gain more than a few percent of total global energy production within the next few decades, as energy consumption is projected to grow as well...

As for gas prices currently, the news outlets here say it's simply because of the global economic fubar. Consumption is down.


That Exxon report is from 2005 looking ahead to 2030, and they are way off on their estimates for the growth of solar.  The report appears biased, as they estimate the growth of alternative energy at 10% when solar was 25-40% in the years leading up to the report, and it would not be so optimistic if written after the radical 75% decline in solar prices in the last 3 years, which caused the exponential growth curve to accelerate.  Solar has grown at an average of 59% since 2001, 110% in the last 3 years, and 193% in 2011.  Exxon engineers considered a breakthrough in solar to be unlikely in the next two decades, and they were wrong.

You are right that solar is currently tiny though.  Global energy consumption is 132,000 TWH, while solar is 55.7 TWH, .04% of the total.  This is because it has only recently become financially viable.  But a 38 year time span out to 2050 along with continued technology advances and price decreases will change that.  Keep in mind that one decade of 50% growth means 58 times more solar power.  A decade of 50% growth followed by a decade of 20% growth followed by two decades of 10% growth would grow solar up to the current global consumption using current technology by 2050, but that is just a back-of-the-envelope mental exercise.  Now imagine how fast oil will die when we can launch the panels into space and run them 24/7 with 5.5x stronger sunlight.

http://ftalphaville.ft.com/blog/2012/06/18/1048871/the-exponential-growth-in-solar-consumption/

SealsWithClubs poker room has  over 400 players online. Buy in from .01 to 60btc.      BTCSportsMatch lets you bet sports with vig free lines!  Best kept secret in bitcoin....          LocalBitcoins.com is very user-friendly now for bank transfers.  You don't have to live close to trade when in the same currency area.           
Electrum client is awesome. Try it. And please stop sending bitcoins to sites run by security newbies, or don't complain when you lose everything.
albertdemorcerf
Newbie
*
Offline Offline

Activity: 6
Merit: 0


View Profile
August 10, 2012, 03:41:51 PM
 #45

I love these gas prices!  its time to start drivin the v8 again  Cheesy

You are showing your age. I remember when gas was under $2 a gallon!

Let me show my age.  I remember when gas was less than $1/gallon.

I also remember when gas first went over $1/gallon:  People were totally freaked out and thought the world was ending.

My hats off to you sir!

FILL'ER'UP!

gas will start being "too expensive" when we stop using it to fill our cars and start using vegetable oil or whatever alternative is just barely cheaper. it might be more expensive than it was in the golden years of $1/gal, but nothing is going to change until gas hits the threshold where it is no longer worth using. opp costs.
Pages: 1 2 3 [All]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!