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Acorns!
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Oil prices peak on Saudi threat

ALMOST $64 A BARREL!!!!!!

Oil prices are breaking fresh records following the closure of the US embassy in Saudi Arabia.



The US is to shut diplomatic offices in Riyadh, Jeddah and Dhahran for two days after receiving what it described as a threat against government buildings.

The security scare comes less than a week after the death of Saudi's King Fahd, which also caused prices to jump.

US light sweet crude rose $1.63 (£0.91) to $63.94 a barrel, and UK benchmark Brent crude - rose $1.63 to $62.70.

The rising price was also underpinned by continuing problems for US refineries, sparking fears of a petrol shortage.


It's safe to infer that the demand for oil and diesel will remain pretty firm
David Thurtell, Commonwealth Bank of Australia

Two facilities - one in Texas and another in Pennsylvania - faced shutdowns following fires and repair work, taking the total number of refineries where problems have been reported to nine in the past two weeks.

The US economy is being seen as strong following the release on Friday of the best payroll figures for five months, indicating that the demand for energy is likely to stay strong.

High vigilance

The US is planning to close diplomatic buildings in Saudi Arabia, the world's largest oil exporter, on Monday and Tuesday.

It is limiting non-official travel for diplomatic staff and has urged all other US citizens working in the country to maintain a high level of vigilance.

However, the Saudi government said it had no information about a specific threat to US interests in the country.

The oil market has been on edge since the death of King Fahd last week.

Although Saudi Arabia's new ruler has pledged to maintain a stable oil policy, traders have expressed concern about the long-term royal succession in the oil-rich kingdom.

Opec action

These fears, allied to concerns about worsening relations between Iran and the US and disruption to refining output in the US, have kept prices near historic peaks.

Oil producers body, Opec, has acted to try and cool prices by raising output by 300,000 barrels a day over the last two weeks.

However, analysts said that this was likely to have little impact amid continuing geopolitical worries and feverish demand for oil worldwide.

"The US economy looks healthy and it's safe to infer that the demand for oil and diesel will remain pretty firm and that the price of oil should be helped along as well," David Thurtell, commodities strategist with Commonwealth Bank of Australia, told Associated Press.
 

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This comes as no surprise. Gas prices will never "go down". With inflation and increased demand for oil which will never cease, prices will only steadily increase.
 

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Acorns!
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Discussion Starter #3
ok,.... this is going to start a poll. Give me a min. I'll post it in the garage.
 

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We need to find an alternative to gas, like NOW...
This is going to look ugly if i decide to get the Si. $3 a gallon is just amazing.
 

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even the hybrids have problems with them. They still run on gas, and then you have to replace the batteries every 5 years or so. And, don't even ask the price if you don't know. You don't want to know.
 

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The thing with hybrids is how much more expensive they are than their gas-powered bretheren. In order to make up the difference in cost by gas savings, you have to drive the car for close to 10 years. And then, yes, there is the maintenance of the battery packs required.
 

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Acorns!
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Discussion Starter #7
I think the toyota prius was 5-6k dollars to replace the batteries with labor and disposal fees included. So that kills the cost margin a bit.

:eek:hnoes: :eek:hnoes:
 

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Get a TDI Jetta or Golf. 50mpg highway and doesn't require a $6000 battery pack every so often. Plus they are kinda fun to drive, decent tq off the line, good for around the city when mated to the 5 speed and don't cost too much, especially used. I wouldn't mind picking one up as a daily driver. They are also extremely easy to mod, as all turbo diesels are. Chip only and it is putting down almost 200whp and almost 300lb/ft. I wish my car would see that kind of a gain from just a chip...and get 50mpg highway.
 

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Acorns!
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Discussion Starter #9
^^ very true. I'm just not so sure on their reliability. I've been on some VW boards and review sites, and was scared by some of their repair stories/records.
 

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Well, my dad's TDI Jetta is a 2001, has just under 80K on it and ZERO major problems. The MAF was replaced under a recall not too long ago. Pretty reliable thus far, IMO.
 

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99V8SHO said:
Get a TDI Jetta or Golf. 50mpg highway and doesn't require a $6000 battery pack every so often. Plus they are kinda fun to drive, decent tq off the line, good for around the city when mated to the 5 speed and don't cost too much, especially used. I wouldn't mind picking one up as a daily driver. They are also extremely easy to mod, as all turbo diesels are. Chip only and it is putting down almost 200whp and almost 300lb/ft. I wish my car would see that kind of a gain from just a chip...and get 50mpg highway.
No disel passenger cars in California. Only diesel trucks are sold here.
Amd going with a V- dubb its a hit or miss, in terms of getting a lemon.
 

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tehLOLbbq said:
even the hybrids have problems with them. They still run on gas, and then you have to replace the batteries every 5 years or so. And, don't even ask the price if you don't know. You don't want to know.
I was really gunning for the hybrid originally and with gas at $3 a gallon and an average of 15k miles a year (what I drive), it would take me 6 years to recoup the cost differences. If I drove 30k a year, I could recoup that in as little as 3 years plus have the peace of mind knowing I get like 50mpg.

The batteries for the civic have an 8 year warrenty and I never planned to keep the car longer than that anyway.
 

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For the people talking about the price difference with hybrids, don't forget the federal tax credits. It's $2100 for Civic Hybrids purchased in 2006. My wife's HCH was about $4000 more than a Civic LX but when we get our tax return next year, more than half that will be made up right there. If you get something like the Civic or Prius, it's not THAT bad. Like PhoenixDown, the battery system has an eight year / 80,000 mile warranty so I'm not worried about it going in a few years.
 

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Acorns!
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Discussion Starter #18
jumped 20 cents a gallon overnight :party: :party: :party: :party:

just makes me want to dance. $2.81 for 87
 

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ok ok here it goes my offer one in a like time

100000 liters of 95 octanes for a civic SI brand new alabaster silver

anyone interested ??????

here we pay 0.037890625$ per litre of 95 octanes
 

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paid $3.19 for regular near the grapevine on sat. (in cali)... premium was $3.39!!!!! absurd.... i feel bad for those suburbans ($127.13 to fill up 'for the 2500'), hummers ($108.48 to fill up), and excursions ($149.16 to fill up)....
 
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