Drivers beware: Oil at all-time high

[Monseratto]

Crude prices over $90 a barrel for the first time in after-hours electronic trade after settling over $89 on declining dollar and supply fears; gas prices head higher too

[gildred]

Kailangang kailangan na talagang makadiscover ng murang fuel alternative...Tingin ko di na babalik iyan sa dati. Last week nag pa full tank ako sa starex ko... yong fuel gauge ay mababa lang nang kaunti sa half.. Umabot na ng P1500.

[zero]

expected naman yata yan tuwing magpapasko or winter season sa northern hemisphere,
prices of oil and lpg fuels rises dahil malaki ang demand. i guess, we start saving na lang on fuels by planning our trips and also keeping our tsikots in shape.

[warp]

This should be offset by the strengthening of the Peso. Unless oil companies do not consider that.

[uls]

not surprising

global production is 85M bpd

global consumption is 88M bpd

$100 per barrel isnt far away

[Honda97]

It's a good thing yung gas allowance namin is in liters instead of pesos kaya hindi lumiliit yung benefit na ito.

Kahit may gas allowance kami, sobrang tipid pa rin ako sa biyahe. Siguro I'll choose my next car based on mileage na and not so much on power.

[mikaztro]

Looks like the people & government should full support the Biofuel Law. Ningas kugon kasi. Also, mukhang we need hydrogen cars na in the future.

[niky]

100$ oil isn't really far away.

You can't stop economic progress in China and India, really... and various companies are pouring in mega-dollars in investments in those two areas.

To lower the price of oil, you basically have to stop people from using oil.

Ration gasoline and diesel. Ration electricity (programmed blackouts). Limit consumer spending. Limit industrial development.

We've had five or six decades of relative peace to figure out what to do when the oil runs out. We've spent most of it fighting over the oil and reaping the benefits of cheap crude.

Instead of building malls, appliances (cars fall under this), consumer goods, suburban sprawl and the like, we could've built a solar-electric, wind-turbine, geothermal and wave-energy/hydroelectric collection system that would be providing a larger percentage of our energy needs than the pitiful 2-12% (depending on the country) they provide now.

But what people want is what people want. We'll contine consuming, spending, eating and the like till we've exhausted resources to a point where it's not cost-effective to depend on them anymore.

Part of the reason we're using so much oil is because it's so cheap!

Can you imagine how much oil is used by companies that have sneakers made in the Philippines, shipped to the US for branding, then shipped back out for sale? Or companies that build microprocessors here, get tires from Japan or the US, get batteries from elsewhere... etcetera... build a car... then ship it thousands of kilometers to consumers elsewhere?

Cheap transport runs industry. Many products are built from parts that come from across the globe, are assembled in one point, then sent back across the globe for sale... all to chase cheaper wages and manufacturing.

Once oil goes over a certain price level, those cheaper wages won't mean as much... hopefully manufacturers will start to localize production again.

I still have hope for the future... but I see my grandkids riding plastic bicycles to their work at large farms out where cities used to be...

[meledson]

Buti na lang tumataas ang piso. Kung nasa 50+ is to 1 USD, baka nasa 50+ na ang liter of uneladed.

Sorry po sa mga OFW, exporters, etc.

[badsekktor]

By the way ilang liters ba kayang i-produce ng 1 barrel ng oil? I've heard that by 2016 eh malamang depleted na ang oil sa middle east. That is why the price of dubai is beautifying their country (ie. yun hotel and yun palm island). they are looking for alternative sources of income in case maubos na yun oil.

[uls]

Biofuel is already causing food prices to go up.

It's not right when cars and people have to compete for the same commodity.

Sugar, corn, wheat are at all time highs.

dont give me that "ano naman connection ng biofuel sa price of food"

As long as the price of oil is still tolerable, alternative fuels wont take off.

It's easier to drill holes in the ground.

Only a global economic slowdown will stop oil price from rising.

Rich countries can take $90 oil. Maybe even $100 oil... without slowing down.

tayo kaya?

[badsekktor]

maybe its time for me to buy again a bike

[niky]

It's not how rich the country is... it's how strong development is.

The middle class in rich countries, who are losing competitiveness due to the outsourcing of jobs to Asian countries, will not be able to thrive on expensive oil. Economic slowdown... lower consumer spending...

And it's that rich middle class in developed countries that drives their economies... once they suffer, those developed countries suffer... and, in turn, developing countries with industries dependent on exports will suffer, too.

China has a robust internal economy, it might be able to survive.

But us? Most of our business is in export of products and labor...

[uls]

fuel expenses take up only about 5 percent of the middle class American's budget. They spend more money eating out. It's still not hurting them.

We dont know how high oil price has to be before it starts hurting them and their economy. maybe $100 a barrel.

Meanwhile, here in the islands, transport groups are already complaining loudly. They want a fare hike really bad.

Transpo expenses already take up a large part of the average pinoy budget.

When pinoys spend more on transpo, they cut down on other stuff.

A fare hike alone will hurt our economy. Pinoys will cut down on food and other basics. Consumer spending will slow down.

[niky]

But high oil prices means high consumer goods prices... which means lower consumer spending. US consumers are largely shielded from the high cost of transportation by ridiculously cheap (by first world standards) fuel.

Yes, we don't know how high it can get before it'll hurt us. Gasoline prices have already doubled in the last ten years, but we're still here.

[Honda97]

all the same, the government should look into and support alternative fuel sources. actually, we should be increasing the proportion of alternative sources of energy so that we can cut down on petroleum products. On our part, tipid lang sa gas at i-maximize ang bawat biyahe.

baka the mmda should look into incentives for carpool arrangements.

[Gumusut_Amige]

not surprising

global production is 85M bpd

global consumption is 88M bpd

$100 per barrel isnt far away

akala may tupak na sa ulo si venezuelan pres chavez noong sabihin niyang 100$/bbl by end of this year... may pagka nostradamus yata.
hapit na hapit na nga ang sinturon ko dahil sa $ exchange rate, ngayon panibagong dagok na naman. haayyyy, kailan kaya tayo makakabawi

[ghosthunter]

baka the mmda should look into incentives for carpool arrangements.

They already have such incentives for carpooling since the odd-even traffic scheme was first implemented many years ago.

[ghosthunter]

But high oil prices means high consumer goods prices... which means lower consumer spending. US consumers are largely shielded from the high cost of transportation by ridiculously cheap (by first world standards) fuel.

Yes, we don't know how high it can get before it'll hurt us. Gasoline prices have already doubled in the last ten years, but we're still here.

so when are you converting your RS to run on LPG?

[Jetjock]

pero dito sa saudi until now di sila nagbabago ng presyo ng gasolina mga 5.50 pesos per liter pa din. mas mura kaysa sa mineral water talaga. kaya pag nagpagosolina ako kailangan isiksik kasi di ka nila suklian papag me butal ka ng centavos nila namumualan ang tangke mo ng gasolina.