Can Oil get this expensive?

  HCOOH 16:51 01 Nov 07
Locked
  Diemmess 17:37 01 Nov 07

"Internationals" control our supply and price of oil within the EU not our relatively emasculated governments.

USA has long tried to save their own natural fields and imported from elsewhere, the Middle east and so on.
Now China and India are big players too.

Whatever smokescreen is being laid about "save the planet and recycle everything", it hides the brutal fact that extraction is becoming more and more expensive while demand seem to rise and rise.

In the early 70s when my four children were small we bought a Range Rover and enjoyed piling everyone and everything into it for camping holidays in the sun.
A friend who rendezvous'd with us on the first such holiday, said "Enjoy it while you can"
That was in the days when petrol cost me 20p/gallon. (the garage down the road is selling diesel @ £104.9 per litre!)

  oresome 19:17 01 Nov 07

I think we are now around the half way mark.

That is, half the world's oil reserves have been used up and it will get increasingly difficult recovering the other half. So don't expect it to get any cheaper!

  HCOOH 21:29 01 Nov 07

I think petrol was about 33p a gallon in 1970 as I remember.

  bluto1 21:53 01 Nov 07

I remember getting a tankful for less than 10 bob, for my Ariel Red Hunter in 1957.
When I bought my house in 1973 I had oil fired central heating built in and the cost of the 500 gallon tank plus 500 gallons of oil cost £57.75. My current oil bill, which I pay monthly is £75.00 a month.
You're right, the oil cartels, who coincidentally control the price of gas, have us over the proverbial barrel.

  Quickbeam 00:55 02 Nov 07

I think my first gallon was 54p in '74... it had just gone up sharply over some scare or another (Suez?).

Tomorrow I will have to pay £100.99 for a litre (I'll have to treasure that litre:).

I fear that as I said in the other thread, once the cheapest litre is over £1, it will never again drop below that price.

  robgf 01:11 02 Nov 07

"I think my first gallon was 54p in '74... it had just gone up sharply over some scare or another (Suez?)."

The Suez crisis was somewhat earlier, around 1956.

The petrol crisis in the 70s was the arabs cutting the oil supply, over western support for Israel.
I worked in a petrol station around 1977 and we used to fill the four star tank with half four star and half two star, to eke out the supply. (probably illegal!!!)

  Diemmess 09:09 02 Nov 07

My prophetic friend made his remark before the '73 fighting in Lebanon. (see first post)

My Range Rover was bought with an unexpected legacy. (£2100 delivered to my door)
The marque had been selling for less than a year and was a very basic car in those days.
Rear window wiper and several dashboard gauges were unfitted extras!
Vinyl floor and moulded seats which cracked in 5 years

The V8 was an obsolete (Buick?) engine, the car built on a Friday afternoon, rust on the tailgate in six months lots of broken glass rattled in dashboard from a pre-delivery replaced windscreen.

More serious was brake failure which cleared after a frantic stab at the pedal, but had the servo replaced pdq.

The oil suddenly drained out of the gearbox when it had done 3000 miles because the oil pump retaining bolts had never been properly tightened. The engine had to be removed to remove the clutch bell housing to reach the culprit.

The handbook said the engine was designed to run on 92 octane petrol and there was no point in using a higher grade. - Result a dire need to de-coke after about 5 years. and thereafter had some 2 and some 4 star when thirsty.

That said, in its later years having carted family all over the place it was useful carrying concrete blocks, stone and general building suppies for mammoth DIY job, and when I retired I sold it age 19 for £1800.

Anyone know the whereabouts of EHU 59 K these days?
My mother described its "Sahara Gold" colour as "Dirty Nappy"

  Stuartli 09:23 02 Nov 07

Oh come off it...:-)

I used to pay 35p a gallon in the early 1970s.

  HCOOH 09:37 02 Nov 07

Have you used it all up yet?

  MrBen CI:-) 09:48 02 Nov 07

Supply+Demand=££££
The fact OPEC is not upping production means prices will continue to spiral upwards for the forseeable future.

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