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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (42032)4/15/2005 9:24:17 PM
From: ScatterShot  Read Replies (1) | Respond to of 206326
 
"Would an alcoholic stop drinking if gin cost twice as much as it does? "

Whether speaking from experience (as some of us might) or not, we probably all know the answer to that. However, driving is only essential, not addictive. And, no, at 3.25/gal I won't stop driving. But it might be in my MR2 instead of my F150. But, yes, your point is well taken: Consumption will decrease. Price will fall. Slider was right (oops, sorry).



To: Tommaso who wrote (42032)4/15/2005 10:10:01 PM
From: Bearcatbob  Read Replies (1) | Respond to of 206326
 
Tomasso, If the yield of gasoline was 42 gallons per bbl - which it is not - the oil component of gasoline cost would be about $.023 per $ per bbl. So at about $50.00 per bbl the cost of oil in today's gasoline is ~$1.15. Therefore the cost of taxes et al is closer to $1.00. I suspect the non oil costs are closer to $.85 since the yield is less than the 42 gal per bbl conversion factor.

Bob


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