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Maybe gas relief is on the way. Biden heading to Saudi Arabia to beg for more oil production even though he promised to ostracize them.

(06-06-2022 06:23 PM)Doo Wrote:  What’s your magic number on gas prices where you’d be seriously concerned about your ability control your finances.

Everyone’s got a number….what’s yours ?

$4.99

(06-07-2022 07:37 AM)Doo Wrote:  

(06-07-2022 07:26 AM)Dirty Ernie Wrote:  

(06-06-2022 09:05 PM)Doo Wrote:  Supply and demand is a pretty simple concept. Increasing supply will lower the price. It’s not rocket science.

Decreasing demand works too.

Increasing supply comes with economic costs in the climate change area as well, fires, drought, higher temps, water shortages etc. are serious issues.

People want simple solutions when we are actually in a destabilized emergency.

Decreasing demand also works you are correct. But it will be significantly harder to make reality. And likely would take years if not decades to accomplish.

Unless to my original point to start the thread, Americans hit their threshold for tolerance, so back to the begining...what's your level of tolerance?

Not a simple question. In personal terms, it’s a sliding scale. So far, if I want to drive somewhere, I do it. But more careful combining trips etc.

Economics and the free market will sort things out over time.

The climate change thing is very real. Can’t be ignored.

Right now I have two vehicles that get 17-18 mpg. I know I should should really get at least one economy rig to run around in. Would I buy a F350 Super Duty right now? Not likely. Will be worthless in a few years.

I don't think finances/the economy play the role in people's lives & decision making like people think it does.

(06-12-2022 01:24 PM)Bronco14 Wrote:  I don't think finances/the economy play the role in people's lives & decision making like people think it does.

You’ve had some whoppers over the years but this takes the cake.

(06-06-2022 06:23 PM)Doo Wrote:  What’s your magic number on gas prices where you’d be seriously concerned about your ability control your finances.

Everyone’s got a number….what’s yours ?

My wife and I both work from home, so driving is limited to grocery store and social outings. I do worry about our childrens budgets.

Now, we both make pretty good money, but I remember when I was 18-19 years old in 1979-80 when gas prices soared, so I sold the 1970 Leman's Sport with 350 hp, 4 barrel carbs and purchased a 1976 Datsun Honey Bee B210 with a tiny 4 cylinder engine, could get close to 50 MPG on the highway!. We lived week to week, cut coupons, packed our lunches, never ate out more than once a week which typically was a Domino's pizza. Our entertainment for the weekend was a 12 pack of Bud, a box of wine and watching MTV music videos. If we didn't have that car, I don't know how we would have made ends meet.

Psychology, I think $5.00 is really a big deal where a lot of people start getting ruffled at the edges. But it's more than just what you are paying at the pump as so many of the products/services we buy/use are also impacted by the petroleum increases which just gets passed down to the consumer.