Yay More Trucks!!

[AutobahnSHO]

http://chronicle.augusta.com/stories/2009/01/01/met_506131.shtml?cpage=last#commentnav

Local article- the number chart toward the bottom is interesting.
FYI Augusta is the 2nd or 3rd largest city in Georgia, one of the "poorer" states in the Union.

Cracks me up how short-term memory people are.

[dazzleman]

Scary.  This is why I find it hard to feel sorry for people who are in financial messes of their own making.  Do they not realize that prices can shoot back up as fast as they came down, and probably will well within the time they own these vehicles?

Another alarming thing is that people base their purchases on their ability to get a loan, rather than whether they can actually afford the purchase.  This type of thinking is why we have the economic mess we have.  Sigh. 

[Eye of the Tiger]

Ya, it's good to use only the current price of gas to make a decision on a purchse that most people take 3-6 years to pay off. Go USA!

[Speed_Racer]

Too bad nobody seems to have learned their lesson from the financial mess we've been in. It'll probably happen all over again, affecting for a second time those who have made (and are still making) wise financial decisions.

*sigh*

[dazzleman]

Too bad nobody seems to have learned their lesson from the financial mess we've been in. It'll probably happen all over again, affecting for a second time those who have made (and are still making) wise financial decisions.

*sigh*

The short-sightedness and stupidity of the typical American consumer can never be overestimated.

[hotrodalex]

Buncha idiots.

'nuff said.

[SVT666]

Wow.  Merry Cans........

I don't think gas prices or oil prices for that matter will get anywhere near the levels we saw this summer for probably at least a decade or more.  The prices were so artificially high it was sick.  $50-$60 a barrel is where it will settle and stay for many many years.  Trump and Buffet have both said that the natural price of oil is around $55 a barrel.  I believe them.  It could definitely happen again, and it will at some point, but I don't think it will happen for a long time.

[ziczachzo]

The Saudi Oil Minister was interviewed on 60 Minutes a few weeks ago and he said that he needs to see oil trading at 75 dollars a barrel to make a profit. It's going back up. Just wait and see.

[the Teuton]

It took four to seven years, many economic scandals, and 9/11 to get prices up where they were.  I have no doubt with the instability of the market that oil could easily get back up to $100/bbl or more next summer.

[SVT666]

The Saudi Oil Minister was interviewed on 60 Minutes a few weeks ago and he said that he needs to see oil trading at 75 dollars a barrel to make a profit. It's going back up. Just wait and see.

$75 is bullshit.  I just saw on the news that the Alberta Oil Sands need $25 a barrel to break even, and the labour and extraction costs in Ft. McMurray are much much higher then anything in Saudi Arabia. He's full of shit.  Oil only recently went above $75 a barrel, so does that mean that they have only been making a profit on oil for 3 years?  I don't think so.

[SVT666]

It took four to seven years, many economic scandals, and 9/11 to get prices up where they were.  I have no doubt with the instability of the market that oil could easily get back up to $100/bbl or more next summer.

I don't think it will happen for a good 10 years.

[Laconian]

It's $75 because the supercars are listed as a business expense on the balance sheet.

[SVT666]

It's $75 because the supercars are listed as a business expense on the balance sheet.

Saudi Oil was making millionaires and billionaires out of them when it was $20 a barrel, so I'm calling BS.

[the Teuton]

I don't think it will happen for a good 10 years.

I'll take the opposite end of the bet.  Come on, oil just shot up $8 a barrel in the last week because of the Israel/Palestine conflict.  Guess how much oil comes from either of those two countries...none.

OPEC (and speculators) raises prices because it can.  Personally, I blame the Clinton (mostly) and Bush (somewhat) Administrations (namely, the SEC) for deregulating oil trade because a little company named Enron asked them to do so.

[AutobahnSHO]

I predict at least $80/barrel for at least a month next summer.
They go up every summer since I can remember.

[MrH]

This is great news for me.  The older I get, the more I really want and need a truck, especially when I buy my own home.

I already told my parents I'll probably own three vehicles by the time I'm 25 or 26, so all these truck sales just means the market will get flooded with awesome truck deals the second gas starts to creep up in price again.

[the Teuton]

I saw an F-250 Super Duty for under $4,000 this past summer.  Truck prices are great during fuel crises.