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Record Gasoline Grips Europe, California Faces $4 A Gallon

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http://www.bloomberg.com/news/2011-03-04/record-gasoline-grips-europe-while-california-faces-4-a-gallon.html

Gasoline prices are setting records across Europe and exceeding $4 a gallon in California as the rise in crude oil caused by the conflict in Libya punishes companies and consumers.

Households are cutting back on travel, cinema visits and groceries in the U.K., where prices jumped to 130.68 pence a liter ($8.06 a gallon) yesterday, according to research from the Automobile Association, Britain’s largest motoring organization. Prices set records in the Netherlands and Italy today. The current average U.S. gasoline price is near a two-year high at $3.81 a gallon, according to the AAA website.

Crude oil’s rise to as high as $119 in Europe has pushed fuel costs up and put the economic recovery at risk. The impact on consumer prices may push European Central Bank President Jean-Claude Trichet to raise interest rates as soon as next month to discourage higher wages and head off the threat of an inflationary spiral.

“Rising fuel costs are negative because they push inflation up and slow the economy down,” said Philip Shaw, chief economist at Investec Securities in London. “It is essentially energy costs that have resulted in ECB putting its finger on the interest rate trigger.”

Higher fuel prices are pushing up costs for retailers such as Tesco Plc in the U.K. and Wal-Mart Stores Inc. in the U.S. and increasing concern that consumers will pare back spending.

Thanks to UK taxes our fuel costs are 100% higher than in the US. At least we've got a strong enough economy to support it.

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http://www.bloomberg...4-a-gallon.html

Thanks to UK taxes our fuel costs are 100% higher than in the US. At least we've got a strong enough economy to support it.

Rising fuel costs are negative because they push inflation up and slow the economy down,” said Philip Shaw, chief economist at Investec Securities in London

Does this bloke instruct successive Govt Economic Bods on what damage the "Fuel Escalator" does in the UK?

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It is a long way from San Bernadino or Riverside to downtown LA. Good thing house prices there have dropped by half.

When I filled up in Loma Linda in January it was $3.40 ish. If it's anywhere near $4 there now, that's a big rise.

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You're not comparing like for like! Petrol may well be cheap in the USA, the thing is distances tend to be greater. Which means that quite often they may well not be better off!

Like in Russia around Volograd petrol was 18.5 roubles per litre about 37p at the time. The problem was the distances in Russia are monsterous. Stass talked about going over to the next town to pick up some parts. He meant Vladivostok about 4000 miles away. When I talk about going over to the next town it is 4 miles away, the next biggest city is Manchester 10 miles away. Birmingham leeds and liverpool 80, 30 and 40 miles respectively.

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You're not comparing like for like! Petrol may well be cheap in the USA, the thing is distances tend to be greater. Which means that quite often they may well not be better off!

Like in Russia around Volograd petrol was 18.5 roubles per litre about 37p at the time. The problem was the distances in Russia are monsterous. Stass talked about going over to the next town to pick up some parts. He meant Vladivostok about 4000 miles away. When I talk about going over to the next town it is 4 miles away, the next biggest city is Manchester 10 miles away. Birmingham leeds and liverpool 80, 30 and 40 miles respectively.

This has been the argument of people like JH Kunstler who say that suburban sprawl based on cheap oil has been a disastrous decision. Lots of aspiring but near bankrupt families in the US simply can't afford to commute anymore.

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This has been the argument of people like JH Kunstler who say that suburban sprawl based on cheap oil has been a disastrous decision. Lots of aspiring but near bankrupt families in the US simply can't afford to commute anymore.

They'd be OK for longer if they hadn't pissed their money up the property wall, mind you the way things are going if the central banks keep their foot to the pedal it is over the cliff at maximum speed with all onboard.

Edited by OnlyMe

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You're not comparing like for like! Petrol may well be cheap in the USA, the thing is distances tend to be greater. Which means that quite often they may well not be better off!

Like in Russia around Volograd petrol was 18.5 roubles per litre about 37p at the time. The problem was the distances in Russia are monsterous. Stass talked about going over to the next town to pick up some parts. He meant Vladivostok about 4000 miles away. When I talk about going over to the next town it is 4 miles away, the next biggest city is Manchester 10 miles away. Birmingham leeds and liverpool 80, 30 and 40 miles respectively.

Plus they seem to drive big tanks. Because fuel is was cheap. I watched a pimp my ride from america once and this girl who worked as a hairdresser (i.e. not that well paid) drove a huge pickup truck (old, secondhand). The tires were massive and for some reason she had accumulated about three spares that were in the back of her boot. The fuel bill must have been double a reasonable little runabout here.

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Plus they seem to drive big tanks. Because fuel is was cheap. I watched a pimp my ride from america once and this girl who worked as a hairdresser (i.e. not that well paid) drove a huge pickup truck (old, secondhand). The tires were massive and for some reason she had accumulated about three spares that were in the back of her boot. The fuel bill must have been double a reasonable little runabout here.

I grew up over there and I can say it is very different from here in the UK. The majority had their own cars at age 16 (I had my own at 15!) and many of those were camaros and trans-ams and what not that got something like 10 miles per gallon. Back in the early to mid 80s when I started driving it was the big thing to "cruise", which meant just driving up and down the main strip of the podunk town you lived in, blasting Motley Crue or Van Halen at full blast thinking it might get you laid. Must have wasted 6 or 7 gallons over a Friday or Saturday night. Then again that came to about $5 or $6 back then.

Probably was the high point of American civilisation looking back.

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Rising fuel costs are negative because they push inflation up and slow the economy down,” said Philip Shaw, chief economist at Investec Securities in London

Does this bloke instruct successive Govt Economic Bods on what damage the "Fuel Escalator" does in the UK?

Conversely, imagine what economic miracles the government could work on the economy by halving the price of fuel overnight by removing some of the duty

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Conversely, imagine what economic miracles the government could work on the economy by halving the price of fuel overnight by removing some of the duty

And imagine the madness of the UK's roads.

I'd start taking the dog to the park in the car (again).

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because the negligible tax on fuel in the US, the fluctuations are 4x as severe as in the Uk. The Uk tax, means we pay more but the price is more stable, the US consumers scream because the price of there petrol changes at exactly the same rate as oil price changes. The cost of filling up your vehicle in the states will more than double, when it rises by 20->25% in europe.

Edited by AteMoose

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When I filled up in Loma Linda in January it was $3.40 ish. If it's anywhere near $4 there now, that's a big rise.

I am off to California to-morrow morning for five weeks.

I will report back on fuel prices.

I am also very interested in the psychology of "stranded sellers" who think that their houses are special because they aren't yet bankrupt and are therefore worth 50% more than houses owned by people in severe trouble.

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http://www.bloomberg...4-a-gallon.html

Thanks to UK taxes our fuel costs are 100% higher than in the US. At least we've got a strong enough economy to support it.

And the depressing thing is:

DOT: Vehicle Miles Driven increased in December

IIRC in 2008 miles driven started falling when oil prices went past $70. This time they are still going up at $90 so no immediate fall necessary. Nothing to do with pumping money in the economy of course.

Printy printy.

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And the depressing thing is:

DOT: Vehicle Miles Driven increased in December

IIRC in 2008 miles driven started falling when oil prices went past $70. This time they are still going up at $90 so no immediate fall necessary. Nothing to do with pumping money in the economy of course.

Printy printy.

Maybe why Wal-Mart's same store sales have been declining for the past few months.

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Maybe why Wal-Mart's same store sales have been declining for the past few months.

I am pretty biased now but I have absolutely no doubt those are connected. The increased gas usage is from those few who benefit from inflation while the fall in Walmart sales reflects the fall in real incomes of the lower rungs of US society. The two go together IMO.

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Driving is going to be for the rich.

Hydrogen fuel. 2 years we'll all be using it. Goodbye Diesel, Petrol and LPG. Goodbye Arab States like Dubai and UAE.

Hello H30 yes, thats H30, where 1 hydrogen atom is burnt and produces H20 which is water, the only polluntant. However we must state for the record that this is pure water and not that crap with additives in which you get when you turn on the tap. This water is nectar.

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HERES THE SCIENCE :

Trioxygen is harmful. Your body cannot breathe it. However it does exist abundantly in nature and is commonly known as ozone.

O3 is trioxygen, when combines with 3 hydrogen atoms it forms a relatively stable compound Phosphorous Acid. H3O3. This compound is expensive to make and as such to create a litre of it would cost a massive 60p pet litre. Now think how much petrol costs per litre. £1.25.

This compound is economically viable. You see you can add this to diesel engines and it would make the phosphorous acid unstable creating a small explosion (combustion), where a single oxygen atom and a sing hydrogen atom are vaporised and create a clean explosion with only pure water as a pollutant if you can call it that.

This is scientifically credible and now economically viable.

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Meanwhile in Qatar the price for 90 octane gasoline has just gone up by 21% to ......................................................14p a litre

B)

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HERES THE SCIENCE :

Trioxygen is harmful. Your body cannot breathe it. However it does exist abundantly in nature and is commonly known as ozone.

O3 is trioxygen, when combines with 3 hydrogen atoms it forms a relatively stable compound Phosphorous Acid. H3O3. This compound is expensive to make and as such to create a litre of it would cost a massive 60p pet litre. Now think how much petrol costs per litre. £1.25.

This compound is economically viable. You see you can add this to diesel engines and it would make the phosphorous acid unstable creating a small explosion (combustion), where a single oxygen atom and a sing hydrogen atom are vaporised and create a clean explosion with only pure water as a pollutant if you can call it that.

This is scientifically credible and now economically viable.

I recall phosphorous acid as H3PO3 and it does not seem to have fuel-type characteristics.

http://www.chemicalland21.com/industrialchem/inorganic/phosphorous%20acid.htm

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Driving is going to be for the rich.

Looks that way.. already noticeably quiter on the roads around my house. (and I was the guy complaining how people were still crowding the roads the last minor spike).

Soon your average person could be looking at ~£400-500 a month to drive. When you include cost of car, insurance, maintenance and cost of petrol. You need a fairly good job to support that, in addition to all the utilities, housing costs and food for the family.

The first step will be for many families to go to one car from two.

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HERES THE SCIENCE :

Trioxygen is harmful. Your body cannot breathe it. However it does exist abundantly in nature and is commonly known as ozone.

O3 is trioxygen, when combines with 3 hydrogen atoms it forms a relatively stable compound Phosphorous Acid. H3O3. This compound is expensive to make and as such to create a litre of it would cost a massive 60p pet litre. Now think how much petrol costs per litre. £1.25.

This compound is economically viable. You see you can add this to diesel engines and it would make the phosphorous acid unstable creating a small explosion (combustion), where a single oxygen atom and a sing hydrogen atom are vaporised and create a clean explosion with only pure water as a pollutant if you can call it that.

This is scientifically credible and now economically viable.

Why do you think it costs a lot to make? Takes a lot of energy. Oil. It doesn't make enough energy to allow you to burn it to make itself. We need oil gas or nuclear to make that fuel.

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Looks that way.. already noticeably quieter on the roads around my house. (and I was the guy complaining how people were still crowding the roads the last minor spike).

Soon your average person could be looking at ~£400-500 a month to drive. When you include cost of car, insurance, maintenance and cost of petrol. You need a fairly good job to support that, in addition to all the utilities, housing costs and food for the family.

The first step will be for many families to go to one car from two.

On my commute to night shift, i have started to notice a lot of people trundling along at 56mph, presumably on their way home form work.

They get in the way of me trundling along at 60mph.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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