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Well, at least I'm not driving anywhere

Fuel is up 46% from a year ago, and at the moment the world production of oil is at 99% of demand - meaning we have now reached the point where the supply of oil is the same as the demand, and from now on demand will exceed it.

Anybody who knows economics will tell you that this will cause the price of gas to increase until demand for it goes down. Which does not a lot of good for people who are only commuting and have no discretionary driving. If I had still been working I would have had a $250 a month expense just for the fuel of driving to work. That would have been about a third of what I was taking home.

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dustmeat August 13th, 2005
It is only a matter of time before the oil runs out and we are forced to find other energy sources, but the last few years will be angry chaos.

farallon August 15th, 2005
Actually I believe that oil production is at 99% of projected future demand. CURRENT demand is far less, demand in the US and other first world nations is actually down. There are some that say that given the current production and current demand, that the price for oil should be about $30 a barrel. Oil reserves are filling up fast. What we have here is a bunch of futures traders all banking on the scare tactic that China will suddenly tripple it's oil requirements next year and are raping the market in the process. :(

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