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Hoping we all are driving cars with great mpg because if Trump gets out of the nuclear treaty with Iran it is going to hurt..
 

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there are always two sides for every trade.

for every buyer who thinks oil is going to $100, there's a producer that wants to lock in $70 oil. Yosemite Sam wouldn't be selling his oil at $70 if he thought it was going to $80.

Maybe the Iran deal will be over. Maybe the Iranians and Saudis are talking smack to scare the world into thinking that oil is going to $100 and line their own wallets.

Trump's not going to get reelected if gas is $4/gallon.
 

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Saudis are actively driving up prices ahead of an IPO tgat will take the state owned oil company public. They were on record last month as wanting 100/barrel for crude.
 

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High gas prices is all about Wall Street and it is a bunch of crap. It is all artificial supply and demand and has nothing to do with actual oil supply. Prior to 1999 only end users like airlines were allowed to trade oil contracts. The price of a barrel of oil never fluctuated by more than $10 in any given year prior to Wall Street being allowed to buy oil contracts. This is why the threat of war or hurricanes drives up the price of oil before any type of supply disruption actually occurs. This is also why if you remember in 2008 when the economy crashed, the price of a gallon of gas got down to under $1.50 in some places. Why? Because Wall Street had to sell off all of their oil contracts. Price went back up after they were bailed out and then resumed doing what they were doing. Then-Republican Senator Phil Gramm slipped the change into legislation in 1999 and then-president Bill Clinton failed to veto it. GET WALL STREET OUT OF OIL CONTRACTS!!!! We are all basically giving the fat cats on Wall Street something more than a $1 on EVERY gallon of gas we buy!
 

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I can't control gas prices but I have some control over how much fuel I consume. I've been driving a hybrid for about 8 months and averaging roughly 46 mpg city/hwy. I'd probably give this gig up if I was driving a vehicle getting less than 30 mpg.

Since Uber/Lyft don't directly feel the pain of rising oil prices there's no incentive or market pressure to raise fares. That might happen only if drivers start dropping out when fuel costs make driving a losing proposition. We're slowing going down that slippery slope now.
 

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High gas prices is all about Wall Street and it is a bunch of crap. It is all artificial supply and demand and has nothing to do with actual oil supply. Prior to 1999 only end users like airlines were allowed to trade oil contracts. The price of a barrel of oil never fluctuated by more than $10 in any given year prior to Wall Street being allowed to buy oil contracts. This is why the threat of war or hurricanes drives up the price of oil before any type of supply disruption actually occurs. This is also why if you remember in 2008 when the economy crashed, the price of a gallon of gas got down to under $1.50 in some places. Why? Because Wall Street had to sell off all of their oil contracts. Price went back up after they were bailed out and then resumed doing what they were doing. Then-Republican Senator Phil Gramm slipped the change into legislation in 1999 and then-president Bill Clinton failed to veto it. GET WALL STREET OUT OF OIL CONTRACTS!!!! We are all basically giving the fat cats on Wall Street something more than a $1 on EVERY gallon of gas we buy!
Are you certain of these assertions? Seems to me, contracts like oil, coal, and other commodities have been publicly traded on mercantile exchanges forever.
And gas prices fell shortly after Obama was elected, mostly as a result of the liquidation of our strategic oil reserves to counter reduced production overseas.

We could do the same now, and frustrate OPEC, but the oil bigwigs are too happy making more money. Oh, AND paying way less tax on their profits, thanks to Cheeto Mousselini and the Crimson Permanent Assurance...
 

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I think last time it was that high you were looking at between 4 and 5 a gallon. If you have a flex fuel vehicle, look for E85.
 

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I can't control gas prices but I have some control over how much fuel I consume. I've been driving a hybrid for about 8 months and averaging roughly 46 mpg city/hwy. I'd probably give this gig up if I was driving a vehicle getting less than 30 mpg.

Since Uber/Lyft don't directly feel the pain of rising oil prices there's no incentive or market pressure to raise fares. That might happen only if drivers start dropping out when fuel costs make driving a losing proposition. We're slowing going down that slippery slope now.
Problem is cars have become TOO efficient and the amount of money collected from gas taxes has been dropping.

There's talk now of taxing vehicles by THE MILE instead of by the gallon.
 

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The problem is that absolutely most professional politicians are idiots. Cars are getting more efficient. They consume less gas. True. But the number of cars is steadily growing from the 90ies till nowadays.
 

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Hoping we all are driving cars with great mpg because if Trump gets out of the nuclear treaty with Iran it is going to hurt..
I drive a truck with 4 doors, a Hemi engine,that gets 9 MPG with the engine off going down hill, & that every time it sees a gas station, it pulls in and growls? Now what$$$$$$$$$$$$, jmo

Are you certain of these assertions? Seems to me, contracts like oil, coal, and other commodities have been publicly traded on mercantile exchanges forever.
And gas prices fell shortly after Obama was elected, mostly as a result of the liquidation of our strategic oil reserves to counter reduced production overseas.

We could do the same now, and frustrate OPEC, but the oil bigwigs are too happy making more money. Oh, AND paying way less tax on their profits, thanks to Cheeto Mousselini and the Crimson Permanent Assurance...
the reason gas went down, was the Saudi's increased oil production, trying to put other oil co's out of biz, it back fired,so many oil countries cut back oil production to jack up prices, it worked, Saudis are still trying to get oil even higher. right now WTI oil is 70$ a barrel, that's the first time a barrel of oil has hit $70 since 2014? it had gotten as low as 25$ a barrel,so see what happens,JMO
 

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Problem is cars have become TOO efficient and the amount of money collected from gas taxes has been dropping.

There's talk now of taxing vehicles by THE MILE instead of by the gallon.
Some cars are a lot more efficient than say, the late 80's. But we have a renewed thirst for muscle cars, and even the more conservative who would not drive a mustang might well own a Taurus SHO, Chrysler 300 with a Hemi, or what have you. Still, the current admin just gutted the EPA and backtracked on CAFE standards, while springboarding the profits of big oil. Coincidence? Not.
 

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The problem is that absolutely most professional politicians are idiots. Cars are getting more efficient. They consume less gas. True. But the number of cars is steadily growing from the 90ies till nowadays.
Number of miles driven actually decreased around 2007 and only recently started to increase again.
 

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Hoping we all are driving cars with great mpg because if Trump gets out of the nuclear treaty with Iran it is going to hurt..
NY Times, today,US oil hits $70 for 1st time since 2014. A cut back in world oil output,engineered by some of the biggest producers,has more then doubled prices from their ebb 2 yrs ago. Now a looming decision by Trump on the nuclear agreement with Iran,is pushing oil prices even higher? Iran is worlds 5th largest producer, if new sanctions go on Iran, it will bring oil prices even higher, Trump has a announcement tomorrow at 2PM regarding what he'll do with Iran,jmo
 

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Some cars are a lot more efficient than say, the late 80's. But we have a renewed thirst for muscle cars, and even the more conservative who would not drive a mustang might well own a Taurus SHO, Chrysler 300 with a Hemi, or what have you. Still, the current admin just gutted the EPA and backtracked on CAFE standards, while springboarding the profits of big oil. Coincidence? Not.
As soon as gas prices go up though, people will get rid of the big trucks and muscle cars. I remember the last time gas was really high I would actually plan my daily trips and think about do I need to go now or can it wait. I also got rid of my big 4x4, 4 door truck that got 5 miles to the gallon and my Jeep Wrangler that got 10 miles per gallon.

My Prius is very fuel efficient, I don't sweat the trips anymore.
 
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As soon as gas prices go up though, people will get rid of the big trucks and muscle cars. I remember the last time gas was really high I would actually plan my daily trips and think about do I need to go now or can it wait. I also got rid of my big 4x4, 4 door truck that got 5 miles to the gallon and my Jeep Wrangler that got 10 miles per gallon.

My Prius is very fuel efficient, I don't sweat the trips anymore.
Yessssssssssssssssssssssssssssssss
 
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