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OPEC Gives in!....Well sort of...

Discussion in 'Auto Industry News' started by Stephen, March 28, 2000.

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  1. Stephen

    Stephen Moderator In Memoriam Elite In Memoriam

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    OPEC has agreed to up Oil production by 6.3% or 1.45 million barrels a day. This will EVENTUALLY bring Gas prices down...some. At first we can expect about 4-5 cents off, and by summer maybe as much as 20 cents off the current price of gas. OPEC is really just playing with us though, if you ask me. Clinton said and I quote
    ''These increases will help sustain worldwide economic growth and provide greater balance between oil supply and demand,''
    Gee, he almost sounds like he knows diddely-squat about the oil industry huh? [​IMG] So, this brings SOME relief, allthough we wont see the $0.90 a gallon gas we saw last summer for a long time. I don't know about you guys, but High Test here is running about $2.25 [​IMG] If it does tack off $0.20 I'll still be paying $2.05, this is insane [​IMG]

    ------------------
    Stephen Withrow
    StephenLS400@aol.com
    ------------------
    97 Explorer Limited 4X4 SOHC V6
    98 Lexus LS400
     
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  3. Dignan

    Dignan Active Member

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    It would be so much easier if the US was an imperialistic nation (yes it is the only big word I know). We could just take over a few OPEC (Organization of Petroleum Exporting Countries),(hey, I know somethiing else too, I surprise myself everyday). If we had some OPEC countries of our own we could take as much oil as we needed (more supply than demand). [​IMG]

    ------------------
    If everybody is different, how can anyone be normal?

    91 Explorer XLT
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  4. rustytr

    rustytr Well-Known Member

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    $0.20 isn't much that's only about $1.50 less a tank for me. It's a start though. $2.25 is crazy so is $2.05 I don't know how you stay sane Stephen. Let me see... that means you'd be paying almost $12.00 more per fill-up then me [​IMG]
     
  5. mattadams

    mattadams Moderator Emeritus

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    OK this isn't really Explorer related, but its time for "Ranting by Matt" minute.

    I think as Americans we complain too much, and we think we have more power then we do. They say that America is a superpower, and that we have the best economy and bla bla bla, well when things like this happen it affirms my belief that we are just as weak as any other country. Some sultan over in a large oil-producing countries goes out to his back yard, turns a crank that lowers production of oil, and americans fall on our knees and beg him to turn it back so that we can have our $1.20/gallon gasoline again. (That doesn't literally happen but you know what I mean) And of course, we may even threaten this country and say "if we don't get our gas, your not getting our products..." Other countries are paying $5-10 a gallon, even Canada is paying much more then we are. Do I really like having to shell out $1.50 for low-grade gas... not really... I have a 30-mile commute to work each day and that adds up, I pay about $30 a week in gas alone, and I am not really happy about it, but then I hear about the "great american gas out", and everybody knows it is a stupid idea that might actually RAISE the price of gasoline, but they are still willing to try. These are the people complaining because there cars only get 30 miles to the gallon, who would rather die then carpool or take public transportation, and who think that America has a stronghold in the Oil industry. Someday all the oil is going ot be gone and what are we going to do then - resort to killing each other over a gallon of gas? I see it happening in the future...

    That's the end of my rantings, feel free to yell at me now [​IMG]

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    Matt Adams
    94 Explorer 4-door nick-named "Tippy"
    http://bart.is-s.com/~explorers/explorer/explorer.html
     
  6. rustytr

    rustytr Well-Known Member

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    Does Mad Max bring any thoughts to mind? I do agree with you Matt. I'm at a 20 mile commute from highlands ranch and I pay around $30 a week as well. Oil does seem to bring Americans to their knees, I've read that some members of congress want to pass a bill to start drilling in wildlife preserves in Alaska so we can have our own oil.
     
  7. Peter Weber

    Peter Weber Active Member

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    Rustytr,
    you have an Explorer with a 7 1/2 gallon tank?

    Matt,
    Here are a few statistics:

    The US's reserve-to-production ratio is a scant 12 years. Estimates of the remaining domestic reserves show quantities that wouldn't run the USA for month.

    The world-wide R/P ratio is 41 years. Although it's been steady at around 40 for the past few years, the figure underestimates future demand increases. Of course, it also doesn't count potential new discoveries and technologies that have increased the ability to extract oil from existing fields.

    My source is the BP World Energy report, available at BP's web site.

    We have two alternatives: Use less, or produce more. Increasing our own production reduces our dependence on imports, and has been the policy of choice. This 'Suck America Dry First' has the unpleasant side effect of reducing our long-term negotiating strength when dealing with OPEC.

    I don't know what the answer is to deal with it politically, but from a general viewpoint the new Escape is definitely a more sensible approach than the Excursion. My personal opinion is that I like to have a choice of a wide range of vehicles to choose from.

    Let's look at the economic side from an individual side. $30/week @ $1.50/gallon equals 1,000 gallons/yr. If regular (which is what our Explorers are supposed to burn) goes to about $1.80/gallon, that's an increase of $300/yr. Yeah, that's a 20% increase. But come on, a barrel of oil has gone from $10 to $27. That's a 170% increase.
    Oil is a commodity that is priced on supply and demand. Currently it's in short supply for whatever reason and the prices are up. It'll change again. Economics will see to it.
    I guess what I'm trying to say in a nutshell, let's not turn into 'Chicken Little's'. The sky isn't falling.

    We make certain personal choices, which in our case is big, high gas consumption vehicles (notice I don't call 'em gas guzzlers). Along with that choice comes the sometime unpleasant reality that we have to pay for our choices (and toys).


    ------------------
    Peter
    '99 Sport 4wd SOHC
     
  8. NoBoundaries

    NoBoundaries ECX Member Moderator Emeritus

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    I second that Peter. People go out and buy Expeditions, Excursions, Tahoes, and Suburban, and now there crying about it. I'm sorry, but they have no right to complain, none of us do. The only people how may have a right to complain are truckers. America has it made compared to what other countries have. To a great extent, I am happy to see prices go up. SUV sales have dropped, so the only people who are driving SUV's are the one's who can either afford it, or that have good reason to have one. I think it's somewhere around 90% of SUV's are not used offroad, then what do you need it for? People are buying SUV's for all the wrong reasons, and you can tell because they aren't crying about the fact that they can't use them offroad, they're crying about the fact that gas is too expensive, I'm sorry, but boo-hoo. You know they don't need them if the big issue is the fact that gas is too expensive. I use my truck, yeah it stinks that prices are up, but that part of life and what can I do? The truth is I have good reason to have this vehicle and the gas hike is something I have to life with.

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    Tim Y.
    1996 Explorer XLT
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  9. rustytr

    rustytr Well-Known Member

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    Peter, first I guess I should've said I don't just drive to and from work sorry, and second I do agree with Tim, I don't complain at all that I have to pay for "more" gas then someone with a car because I figured that in before I bought my explorer, and of course prices will always fluctuate so I'm not concerned much with the prices even though I do have opinions on limits.
     
  10. Mat R

    Mat R Active Member

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    Well like the rest of the country I complain with ahving no right too, I'm just following the pattern of self-righteousness that all good Americans have *sarchasm*

    Anyway, I'm just excited for when technology will finally provide us with the Hydrogen engine, though right now it is somewhat unrealistic for cars, the idea of being able to run a vehicle on hydrogen pulled from the air with the only bi product being water sounds very appealing. The great thing about it too, is that it actually provides power, unlike electric engines. I wouldn't be surprised if they had one out by 2010 or 2020, but maybe I'm being unrealistc also...
    Mat

    ------------------
    1992 Ford Explorer XLT
    Interested in trucks..?
    Me too. Check out my web page.
    MatnChad.com
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  11. mattadams

    mattadams Moderator Emeritus

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    wow this is getting wierd [​IMG]. I like all great americans would love to see an engine that runs on hydrogen, just think about it, no more having to pay for gas, not using up any real resources except the air, no one bitching about who gets the most hydrogen, etc. However I think an engine that runs on glass clippings (from an old Disney movie) is a bit more realistic. i do however, like the idea of an engine that runs on natural gas or propane (both of which exist) because we aren't getting all the resources from overseas, its clean burning, AND you get a tax break! Can't go too wrong with that! Now if only I could get a hi-powered natural gas engine for my Explorer at a decent price... then Iw ouldn't really have to worry about stuff like carbon buildup and stuff.

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    Matt Adams
    94 Explorer 4-door nick-named "Tippy"
    http://bart.is-s.com/~explorers/explorer/explorer.html
     
  12. NoBoundaries

    NoBoundaries ECX Member Moderator Emeritus

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    That's another benefit too. People are now looking for better alternatives to gas, and I see that this hike in prices will help promote the need for new technologies, such as hybrid engines. This can become a real benefit down the road. Another benefit is the fact that people are now carpooling, using mass transit, and being more conservative with their fuel, which can only stand to help, not to mention the fact that there are fewer and fewer people now looking to by thirsty SUV. I don't want to sound like a tree-hugger, but some day supplies will run out and someday the world could just become a cesspool because of polution, you have to admit that there is polution and that it does hurt our world. This hike in fuel prices will aid in the development of new technologies and alternative forms of transportation. I know people will never look at how the world is benefiting, because most only see things as benefitial when they personally benefit, but by whatever means, I think the end result may be benefitial to both our pockets and everything around us. Now I know for certain that I sound like a tree-hugger, so I will now apologize, but I do see that there are a lot of great benefits to the rise in fuel prices.

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    Tim Y.
    1996 Explorer XLT
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  13. rustytr

    rustytr Well-Known Member

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    Just a little info on the tax break for cleaner burning vehicles. My mom and her husband convert their vehicles to propane and this tax season received upwards of $5,100.00. I think it's worth it.
     
  14. NoBoundaries

    NoBoundaries ECX Member Moderator Emeritus

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    WOW! What kind of vehicles are they driving?

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    Tim Y.
    1996 Explorer XLT
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  15. rustytr

    rustytr Well-Known Member

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    They have two trucks, ones a Ford F-150 and the other is a Dodge, it's his work truck but it still gets credited to them.
     
  16. NoBoundaries

    NoBoundaries ECX Member Moderator Emeritus

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    How did they do this conversion? Do you loose any power? I have never really heard much about this. Do they save money buying propane instead of fuel. I'm assuming that it is more economic. This is pretty interesting.

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    Tim Y.
    1996 Explorer XLT
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  17. Mat R

    Mat R Active Member

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    You save money going with propane, but the problem is that Propane is slow to brun if you compare it to gasoline, and so you can have this huge V-8 and it will hradly any horsepower. Theres a kit out there somewhere that allows you to do the conversion with a normal gasoline engine, I saw a jeep in a magazine with it.
    Mat

    ------------------
    1992 Ford Explorer XLT
    Interested in trucks..?
    Me too. Check out my web page.
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  18. rpenner54

    rpenner54 Moderator Emeritus Moderator Emeritus

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    The best bet is to get a dual fuel system. One that can use both CNG and Unleaded. There are kits out there. You can also switch midstream for something like this. That would allow you to have good highway millage but then switch to gas if you need the performance. The only other problem with CNG or propane is that you have to have a very large tank. Usually twice as big as the normal gas tank for the same amount of fuel. My dad had a whole fleet of Dodge trucks from the 70's that ran on CNG he said it was great for the MPG on them. The kits are expensive to convert existing engines over, the last time I looked it was in the $1500 range. Other then that I don't know to much. [​IMG]



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    Ryan Penner
    1992 Explorer Sport Modified
     
  19. Stephen

    Stephen Moderator In Memoriam Elite In Memoriam

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    You know guys, the future of the Automotive industry is so great, and spans so many different ideas, I really don't think many people relize the possibilities that await them. think about how far we've come in 50 years, and what the next 50 years will hold for the American motorist. 50 years ago things like seatbelts were high tech luxury items, as was everything we now take for granted. In 50 short years, we now have cars that can hold a selected distance under cruise control. We have headlights that come on at night, windshield wipers that come on when it rains, we are guided by satellites, our cars can call for help themselves, hell we even have a car that allows its driver to see through the dark without headlights. It is ASTONISHING. When you think about the choices you and I have when we go out to buy a car in the year 2000, it is hard to invision what kinds of choices we'll have in the year 2050, I'll never be here to see it, but for those of you who will, you are on the verge of so many exciting things in the automotive world. I love cars and I always have, I always will. The thought of how cars will be in the next 50 years is mind boggling. When you think about it, we're so close to so many breakthroughs. Hydrogen engines, Propane, Electric, NaturalGas, fuel cell technology. So many areas of the automotive industry are on the verge of DRASTIC change. When you think about the fact that with a click of my mouse here, I can look at, "drive", talk about, and buy cars, all without ever getting out of my comfy office chair. The automobile's future is bright and exciting indeed.

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    Stephen Withrow
    StephenLS400@aol.com
    ------------------
    97 Explorer Limited 4X4 SOHC V6
    98 Lexus LS400
     
  20. The Godfather

    The Godfather Active Member

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    My turn to rant! I think that OPEC had this planned all along. They saw that they were losing money so they cut production sending the price flying from people thinking the world will run out of oil. Then OPEC keeps the price high and wait untill people start to complain, and then wait untill they start losing money from people cutting back on driving. Then they hold this big conference and say we're going to raise production. Everybody's fears cease. Yet the price of gas only falls a small bit, OPEC gets out ahead. As you can see- .95c last summer, 1.45 now, and it will fall back to 1.30-35 by this fall. OPEC wins, we still pay more. They have the worlds economy by the cojones and they know it. My solution....Ethanol. If we could make an engine run on pure ethanol, it would burn cleaner, run longer (less carbon), and be cheaper to fuel. Why? We produce the ethanol right here in our back yard. Look at all the surplus the farmers have. Not only would we get rid of the surplus, but create huge demand for corn. The corn farmers, who are already hurting, would be the new tycoons. They'd be millionares over night. If the US could have enough influcence over the world and change all new car production to ethanol, we could be the new OPEC. Even if we switched to natural gas, there are huge fields in the Atlantic that the US could mine. There are many more fuels than just gas, hopefully the companys act sometime soon. I'll quit rambling now.

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    93 XLT 4 door
    Big, green, and slow
     
  21. Rick

    Rick Pumpkin Pilot Staff Member Admin Elite Explorer

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    I guess this would be a good place to mention the newest addition to our automotive stable.
    After 7 years and 135,000 miles I have decided that the Explorer would no longer be my daily driver. I drive about 20,000 miles a year and go through a $600.00 set of BFG M/T's in about a year and a half. Plus the regular wear and tear of daily driving, low gas mileage etc.

    Anyway...last December I picked up a 2000 VW Golf Turbo Diesal. It's been an incredible car. It gets 53MPG on the freeway and 44mpg around town. The performance is amazing to say the least. With over 3 times the fuel mileage of the Explorer the VW practically pays for itself it fuel savings. Now the Explorer sits all week and goes offroading on the weekends.

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    Rick Horwitz
    Editor
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