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[Poll]
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Gas Prices - How High Is Too High
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| $3.00 |
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| $4.00 |
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| $5.00 |
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| $6.00 |
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| $7.00 |
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| $8.00 |
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| $9.00 |
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| $10.00 or more |
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Total Votes : 32
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(last vote on : 6/6/2008 12:19:29 AM)
(Poll will run till: -- )
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RE: Gas Prices - How High Is Too High - 5/23/2008 2:56:18 PM
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davemiller7
Posts: 1032
Joined: 3/5/2008
From: NC via NY
Status: offline
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Moved here in '96. Live not far from Willow Springs, in fact, attended New Hope Presbyterian Church there for a couple of years. I work in Knightdale, east of Raleigh. If you haven't been back here recently, you wouldn't recognize the place. It's changed so much.
-Dave
quote:
ORIGINAL: kernsfamily
quote:
ORIGINAL: davemiller7
I'm in the same sort of spot. I moved to a little town south of Raleigh, NC (to get out of the high cost of housing) and commute about 38 miles to work in a Raleigh suburb. There's no mass transit or anyone to carpool with. My little 4 cylinder Chevy S10 pickup is costing me about $50 a week just to get to work and back. It's only going to get worse. I've got a good-paying job, but I'm officially retired so the IRS raids my paycheck because I make over their limit. Between the IRS and gas prices I'm going to have to stay home just to save money.
I lived in Raleigh for a few years (1992-1994)...went to church at Brooks Avenue Church of Christ right near NCSU. And, I have a sister who lives in Willow Springs, and another lives in High Point.
I worked at IBM in RTP, and at RDU Int'l airport.....oh, and did a little bit of waiting tables at O'Charley's in Cary!
_____________________________
-Dave
The Prayer of Protection
The light of God surrounds me,
The love of God enfolds me,
The power of God protects me,
The presence of God watches over me.
Wherever I am, God is.
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RE: Gas Prices - How High Is Too High - 5/23/2008 4:56:18 PM
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blessedinnyc
Posts: 1964
Joined: 10/12/2007
Status: offline
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quote:
This $4 is crazy , a local news station said maybe 6 by end of year.
I went out to a Walmart, they had a gas station next to it, it was $3.61, I said i will fill up after I come out of Walmart, it was $3.85!
I asked the gas attendent was I trippin' he said no you should still fill up, it will be $4 probaly tommorrow!
Yup. If you have some money laying around, you might want to consider buying some stock in oil companies. I get roughly $300/year in oil company dividends, which tend to scale with gas prices, so no matter how high gas prices go in a given year, I get about 80-100 free gallons of gas every year just for owning oil stocks.
A good place to start might be to take a look at the companies in the AMEX Oil Index:
http://finance.yahoo.com/q/cp?s=%5EXOI Avoid the refiners; go for a company that produces oil,or an integrated oil company.
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RE: Gas Prices - How High Is Too High - 5/23/2008 6:51:53 PM
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garsyt
Posts: 2237
Joined: 4/12/2005
From: the bottom of the laundry basket
Status: offline
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quote:
ORIGINAL: blessedinnyc
quote:
This $4 is crazy , a local news station said maybe 6 by end of year.
I went out to a Walmart, they had a gas station next to it, it was $3.61, I said i will fill up after I come out of Walmart, it was $3.85!
I asked the gas attendent was I trippin' he said no you should still fill up, it will be $4 probaly tommorrow!
Yup. If you have some money laying around, you might want to consider buying some stock in oil companies. I get roughly $300/year in oil company dividends, which tend to scale with gas prices, so no matter how high gas prices go in a given year, I get about 80-100 free gallons of gas every year just for owning oil stocks.
A good place to start might be to take a look at the companies in the AMEX Oil Index:
http://finance.yahoo.com/q/cp?s=%5EXOI Avoid the refiners; go for a company that produces oil,or an integrated oil company.
Ah so now the truth comes out!  The reason you don't mind the gas prices rising so quickly is that #1 - because you don't need to use gas to get through your average day, and #2 the higher the prices go - the more you get in dividend checks.
Blessings,
Garsy
_____________________________
My Blog: www.moredayslikethisplease.wordpress.com
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RE: Gas Prices - How High Is Too High - 5/23/2008 9:19:14 PM
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blessedinnyc
Posts: 1964
Joined: 10/12/2007
Status: offline
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quote:
ORIGINAL: garsyt
Ah so now the truth comes out! The reason you don't mind the gas prices rising so quickly is that #1 - because you don't need to use gas to get through your average day, and #2 the higher the prices go - the more you get in dividend checks.
Blessings,
Garsy
Mwahaha, it's true. Well, actually, this isn't enough to cover the cost of shipping all of my food and clothing to me, so I wouldn't quite say I benefit when oil prices go higher- I'm not fully hedged. And if I were to use as much energy as a typical American, I'd be hedged about 20%, so I'd have been paying for gas on my own since February.
But I do think that owning a few shares of an oil company might be a good move for anyone who consumes gas (anyone who isn't Amish). The dividends don't come anywhere close to covering my heating bill, food bills, and gasoline costs, but they do make it a little less painful. One other interesting option might be to buy oil trusts- these guys pay really nice dividends- sometimes as much as 10%. Buy $500 worth, and the dividend will buy you about 13 gallons of gas every year for a long time. Again, liability concerns keep me from recommending a specific trust, but this Kiplinger article might give folks a place to start looking:
http://www.kiplinger.com/columns/picks/archive/2007/pick1003.htm
Keep in mind that there's three things to keep in mind for oil trusts:
1.) How much you're paying for a barrel of proven reserves.
2.) How much money makes it to shareholders when a barrel is extracted.
3.) How fast that oil is getting extracted.
Note that #3 is the last thing on the list.
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