Fuel prices

Submitted: Saturday, Jun 14, 2008 at 22:45
ThreadID: 58787 Views:1815 Replies:3 FollowUps:9
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I have not been back home except for two nights in the last three months, but I keep tabs on the fuel prices and I can imagine the hurt the average person has when filling up. Last time I filled the Patrol fuel was only approx $1.50 litre and now nearly $2.00 litre.
Where I work in Angola I just filled the Nissan Terrano with diesel @ 0.30 litre and petrol is 0.40 litre. (Angola pumps 2 million barrels a day). Last month in Nigeria the price was only a little more expensive.
Luanda is clogged with cars and getting around is nearly impossible.
When I come home in July for six weeks I will be re-evaluating the amount of driving I do due the considerable cost of fuel.
On another note, last month in Nigeria I was driven from the capital Abuja to Kaduna return and the road is divided all the way and makes the Pacific Highway look like a third world road.
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Reply By: Dave B (NSW) - Sunday, Jun 15, 2008 at 00:24

Sunday, Jun 15, 2008 at 00:24
Where would you rather live Graeme?

Here or there?

Dave
'Wouldn't be dead for quids'

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AnswerID: 310018

Follow Up By: Richard Kovac - Sunday, Jun 15, 2008 at 00:58

Sunday, Jun 15, 2008 at 00:58
by the look of some of Graeme's rig photos, he may be use to spending other peoples money .. MAYBE

Richard
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Follow Up By: Member - Graeme (NSW) - Sunday, Jun 15, 2008 at 02:27

Sunday, Jun 15, 2008 at 02:27
There is no question that Oz is the place to live, I do count down the six weeks until I am home again, but I have spent a large amount of time in third world countries and I do make comparisons and see areas Australia is lagging by comparison.
Richard, I do wish I had other people's money to spend on my rig but sadly I have to work very hard for what I get to be able to enjoy the freedom to do what I want to do at home.
In India the people I was working with when told part of my job was driving through the outback from one job to the other asked how we protected ourselves from bandits, and if we took an armed security with us as they do there. They were amazed at the answer.
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Reply By: Splits - Sunday, Jun 15, 2008 at 00:43

Sunday, Jun 15, 2008 at 00:43
I don't know where it is all going to end with oil prices Graeme. About 18 months ago I heard an Arab oil executive on Sydney radio predicting it would reach $150 US a barrel within 2 years. It looks like he is right.

Last week I heard another prediction from a Russian executive. Type the words "russian oil executive $250 us barrel" into Google and look at the sites that come up. Heaven help us if he is right. I might have to save up just to buy enough fuel to drive from my garage to the front gate!

I think our biggest problem with major roads in this country is the sheer size of the place. The Pacific Highway is about 1000ks long as is the Hume, the Princes, the Sturt, the Bruce, the New England and just about every other one. We have too much space and too few people trying to pay for everything.

Brian
AnswerID: 310019

Follow Up By: Richard Kovac - Sunday, Jun 15, 2008 at 01:08

Sunday, Jun 15, 2008 at 01:08
Brian

The last I read the Pacific Highway is Highway number 1.

it goes through many states and Territory's not just NSW >>.LOL

Richard
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Follow Up By: Member - Graeme (NSW) - Sunday, Jun 15, 2008 at 02:39

Sunday, Jun 15, 2008 at 02:39
Brian,I sincerely hope oil does not reach $250 a barrel as it will cripple the western economy. As it is at the moment I work for an airline which is the aviation side of the state oil company and they are oozing money, witness the brand new aircraft and helicopters arriving regularly and the expensive refurbishment of the older aircraft. I keep waiting for the bubble to burst!!
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Follow Up By: Saharaman (aka Geepeem) - Sunday, Jun 15, 2008 at 07:07

Sunday, Jun 15, 2008 at 07:07
There is no doubt that it will reach $250pb and go a lot higher. The fact is current world oil production is 85mbd (million barrels per day) BUT demand is 87mbpd. And demand from India and China continues to grow at a faster rate than production. Its not rocket science to see what is happening. Planet earth has about 200 years supply of fossil fuels and we are about half way down the track of exhausting them. While there will be oil around for probably another 100 years it will continue to get increasingly more expensive. A Reserve Bank director (in a talk to the business council) said he believed energy prices are the biggest treat to businesses world wide - and he predicted a 10 fold increase in energy prices within the next 10 years - ie. oil at over $1000pb by 2018. Planet earth is consuming oil at the rate of 200,000 litres per second (24/7) of a non renewable resource. Of course the price will continue to rocket upwards in the coming years. There will be alternatives but they cannot be produced in the quantities required to replace fossil fuels.
We all need to prepare for significant structural changes that will occur in our society and economies in the coming years (where we live and work, what type of vehicles we drive, how often we drive etc etc).
Cheers,
Glen
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Follow Up By: sjp - Sunday, Jun 15, 2008 at 08:07

Sunday, Jun 15, 2008 at 08:07
do really belive that,i reckon if the world ran out of oil tomorrow we would have a replacement next week ,how old hat is the engine -ive got a tractor out the back that is over 50 yrs old running on the same priciples as todays motors (pistons etc)bet you wont find a50yr old computer doing the same
more likely we need to look at the worlds population employed by oil and its offshoots to understand why nothing new has been allowed to come into the picture as yet
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Follow Up By: Saharaman (aka Geepeem) - Sunday, Jun 15, 2008 at 08:17

Sunday, Jun 15, 2008 at 08:17
I should have proof read it first - "biggest treat " should of course read "biggest threat"
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Follow Up By: Patrol22 - Sunday, Jun 15, 2008 at 17:33

Sunday, Jun 15, 2008 at 17:33
Richard
Highway 1 is a compendium of highways around the country... eg The Princes Highway from Sydney to Melbourne is Hghwy 1, The Bruce Highway north from Brisvegas is Hghwy 1, The Pacific Hghwy from Sydney to Brisvegas is Highway 1, etc etc etc around the country.
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Reply By: troopyman - Sunday, Jun 15, 2008 at 12:37

Sunday, Jun 15, 2008 at 12:37
The price of oil is a last quick rich grab by the owners of the oil before it runs out . Nothing more , nothing less .
AnswerID: 310077

Follow Up By: Member - Graeme (NSW) - Sunday, Jun 15, 2008 at 15:39

Sunday, Jun 15, 2008 at 15:39
There are still vast reserves, as a couple of years ago in Algeria I was talking to an Australian petroleum engineer who was saying that now the price had gone up it was economical to tap the deeper reserved which were huge. I believe our survey identified even more areas to drill.
Canada has huge shale deposits which are now coming online and that alone has the capacity to supply the worlds needs for a very long time http://www.oilscenarios.info/oilbasics.htm.
It is the rapid industrialisation of China and India, which if the world has a recession will hit and slow these countries therefore lessening the demand for oil and therefore the price.
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