To: elmatador who wrote (571 ) 9/18/2005 11:34:08 AM From: BubbaFred Respond to Lucky educated guess. A few times, I thought crude oil would go through the roof, i.e. break the 100 barrier. Luckily the oil conglomerates kept rational and know the breaking point of US economy and consumer spending. Fortunately too, the price control in China has caused China's refineries to sell petrol (gasoline and diesel) overseas rather than selling them domestically. More profit by selling to other countries. Fuel for vehicles has been in short supply in southern China for several months. If it were not for those fortunate events, crude oil could have been in the 90's and US economy would now be at severe stagflation or worse. We only hear people whining on price of gasoline at gas pump stations, but they are still fueling their vehicles instead of alternative transportation such as bus. Utility bills will go up by 40 to 45% this winter. Public transportation fares will likewise go up. What and when will that breaking point?, the one that will make American consumers go into a trench with their spending? Buy new cars to be parked in the garage, and keep cars for 6 to 8 years rather than 2 to 4 years. I think we are seeing the impact on the auto industry already.
