Gas prices cause 'financial hardship'

Discussion in 'Off-Topic' started by moose, May 8, 2006.

  1. moose

    moose Infina Mooooooose!

    I'm sorry, but WTF.

    6 out of 10 people making $50-75k/year think gas prices are a 'hardship'.

    Let's do the math. 15,000 miles/year, say 20mpg which is a good bit less than most reasonably sized cars get. That's 750 gallons. Gas goes up a dollar, that's a whooping $750/year. $62.50/month.

    Wanna bet that the same people crying about financial impact of gas prices don't have a problem paying $50-100 for cell phone plans, $80+ in cable TV bills, dine out regularly, etc etc etc...?

    Honestly, if you make 50k+/year and $50-60/month is going to cause you financial troubles, you probably ought to step back and take a serious look at your budget.
     
  2. bluetwo

    bluetwo Active Member

    It's true. I never thought I'd see the day when gas prices would be owning people making 50K a year....
    :sarcasm:
     
  3. knhtrdr

    knhtrdr Active Member

    So True!
     
  4. monk

    monk <b>The Kitchen Ninja!!!!</b>

    yeah, but think about how many americans live above their means? i could easily see that stat being true.
     
  5. moose

    moose Infina Mooooooose!

    I'm not debating its accuracy, just commenting on how screwed up your finances are when you make 50+ and a $1 hike in gas prices send you into financial troubles. :)
     
  6. knhtrdr

    knhtrdr Active Member

    true also, but if I was makin 50k I would not be makin a fuss except for the esuvee I brought that gets 5-10 miles to the gallon but then that would be totally my fault:hsugh:
     
  7. monk

    monk <b>The Kitchen Ninja!!!!</b>

    or at least "perceived" financial troubles ;)
     
  8. Weapon

    Weapon 90lbs of dynamite Supporting Member

    the only thing i cant stand is price gouging. It really irritates me that the only expense that has had a huge increase is gasoline and natural gas. My satellite, cell phone, telephone, internet, electricity, insurance and food have all stayed the same if not decreased a bit. The increase is not sending me into any financial troubles but it really does piss me off. I mean that $60-$70 increase in gasoline combined with the natural gas increase of %100-%150 increased my monthly expenses by almost $300 from December through March. I mean thats an extra $1100-$1300 I definately could have used.
     
  9. suby113

    suby113 Member

    True! true!
     
  10. Trey

    Trey Active Member

    Bring on E85, screw Big OIL!
     
  11. WRX-WRC

    WRX-WRC Active Member

    does the average perosn really only drive 15,000 miles a year? i put 10k on my suby when i had her for 4-5 months.
     
  12. jt money

    jt money 350hp mmm mmm Good! Supporting Member

    not only that those 6 out of 10 probably dont get anywhere close to 20mpg. most expencive cars have big motors. big motors = bad gas milage. with the big truck and suv rage in the states most probable only get 14 or less mpg. also people making 50 to 75k a year also probably live outside their budget and dont see it till something like this happens.
     
    Last edited: May 8, 2006
  13. Weapon

    Weapon 90lbs of dynamite Supporting Member

    i know its hard to believe but some people may drive a lot less than that. I had 33,000 miles in december and now I have 36,8xx. So its people like me that drop the average for you high rollers
     
  14. WRX-WRC

    WRX-WRC Active Member

    man, 4k miles in 5 months, damn
     
  15. Kokopelli

    Kokopelli Active Member

    Its not a hardship if you are single and have an income of 50k a year, live in an apartment and share all the expenses with a roomate.

    But if you have a family of 4, a house and pay your own health insurance. There isn't going to be much left.

    I don't think I could make it living off 50k and I don't even have any car payments.
     
  16. Weapon

    Weapon 90lbs of dynamite Supporting Member

    yea.. a family member of mine is in that situation just as you described..not only that he has a carpet cleaning business which means he has to fill his tank multiple times a week! so it has effected his income more than the average person.

    as for me and driving. My car is just a daily driver to and from work. I dont go anywhere else during the week and on the weekends we take my wifes car so the wagon sits in the garage from friday night to monday morning.
     
    Last edited: May 8, 2006
  17. bluetwo

    bluetwo Active Member

    Down with SUV's. And why the hell are all cars getting bigger? I guess some people just don't care how much gas costs, they're going to keep on driving thier mobile houses no matter what.

    My only hope is that big trucks (privately owned + not for businesses) and XL SUV's have finnally reached thier peak in sales. And I say if gas has to go up in cost in order to stop the madness then so be it.
     
  18. WRX-WRC

    WRX-WRC Active Member

    large suv's and trucks already arent cheap, heh
     
  19. longfury

    longfury Active Member

    Well...there were rumors of trucks and SUV's were going to have to comply with car emmissions and fuel consumption requirements.

    I don't know if that went through or not.
     
  20. monk

    monk <b>The Kitchen Ninja!!!!</b>

    i'm so glad it's not just me... i was just saying to my wife the other day when a magnum on 22+" wheels drove by "look honey, it's a lowrider SUV"
     
  21. bluetwo

    bluetwo Active Member

    Well. I can see large families using SUV's and it makes sense that businesses should have good strong trucks to work with, but everyone and thier granma having one or the other just because it represents wealth or excess is just wrong. It's such a waste when you look at it on the national level.
     
  22. Brian

    Brian Active Member

    <the unspoken truth>
    I have more money than you so I can buy something bigger, better that uses more gas. I can pay for the extra gas no problem. Jacking up prices will help force poor people onto mass transit where they belong. Clear the road for my 'slade BEATCH! :hsnono:
    </the unspoken truth>

    Personally I've just been eating out less to cover the difference. ** I'm not the "I" up there just how I wrote it. But it's definately how I think some people think.
     
  23. calmnothing

    calmnothing Shlimp Flied Lice Supporting Member

    Bring on turbo biodiesel technology......
     
  24. Kokopelli

    Kokopelli Active Member

    this is the future. biodiesel from algae.

    http://www.americanenergyindependence.com/biodiesel.html


    forget about e85. that stuff takes more energy to make it than it produces when you use it. Its a net energy loss. Without government subsidies no one would even try to make it because the cost are so high.
     
  25. bluetwo

    bluetwo Active Member

    Like hydrogen powered cars. Because it currently requires three times as many resources to make a tank of hydrogen as it does to make a tank of gas. Give or take a little.
     
  26. WRX-WRC

    WRX-WRC Active Member

    mazda will be selling hydrogen pwered rx-8s in japan starting next year
     
  27. MarkM2016GTI

    MarkM2016GTI Supporting Member

    Kris, there are petitions that are available to sign against gas gouging...I recently saw something on the news where a group of people were doing this...I am with you 100% man...totally...



    Mark
     
  28. longfury

    longfury Active Member


    Rumor has it they go 50-75 miles on a tank of hydrogen.
     
  29. WRX-WRC

    WRX-WRC Active Member

    yeah but then they can then use gasoline and go another 300, i guess it helps alittle, heh
     
  30. moose

    moose Infina Mooooooose!

    Problem is that people have _one_ kid and it's a panic trip to the dealership to pick up a freakin' Tahoe or Expedition. Geez, we somehow managed to take vacations and trips in a Saab 900 (without--the horror--video games or DVDs to entertain us!), and that was my parents, myself and my two siblings.

    I hate to seem like one of the SUV basher types -- nothing wrong with the vehicle itself -- but it's getting god damn ridiculous. Especially when people have no clue how to drive the things and think it's ok to tear down I85 at 90mph while eating and chatting on the cellphone. :grr: :grr: :mad:

    Who's doing the gouging though? The big oil companies profit margins haven't really increased by much (any?) %-wise. The gas station operators make less than a dime per gallon even at today's prices.
     
    Last edited: May 8, 2006
  31. jt money

    jt money 350hp mmm mmm Good! Supporting Member

    1 thats exactly why i do no more than 75 in my truck period.

    2 you just answered your own question. its uncle sam thats gouging us all.
     
  32. Brian

    Brian Active Member

    DUDE! Where have you been living? Exxon and several other oil companies have posted record profits. Exxon even passed up WalMart as the biggest company. Large % increases in profit. That's what so many people have been pissed about. Special legislation almost passed concerning those records profits too. Etc., etc. etc.

    It's the govt's job to keep us from getting screwed by anti-competive practices. Like no new refineries in how many years to stifle supply?
     
  33. MarkM2016GTI

    MarkM2016GTI Supporting Member

    That's also why I joined Sam's Club and Costco because of the awesome prices on gas...I can't believe I didn't do this sooner....It was also a lot cheaper getting gas on base too. At least the gas prices are coming down a little...I am in total agreement with Moose regarding the whole SUV issue.


    Mark
     
  34. slpymnky

    slpymnky Member

    Gas prices are getting a bit much though. For me it's not a big deal though because In the last 19 months I've only put 12,000 miles on my car. I have friends though that go to my school because it's a magnet school and they have to commute up to 20 miles each way and their parents wont pay for gas. The only problem is that in order to participate in after school activities and other stuff, they have to have their own transportation and their parents work. Try paying that much for gas and insurance if you're in high school and barely have enough time to work @ minimum wage.

    Either they need to control gas prices or they need to raise minimum wage, because a lot of people have no other alternative. Marta doesn't go everywhere, so that's not always a solution.
     
  35. bluetwo

    bluetwo Active Member

    The only solution is to lower consumption. If we keep on using more and more gas the prices are going to continue to keep going up. And I'm not even talking about inflation.

    SUV's = high gas prices.
     
  36. Mad Mallard

    Mad Mallard the mad mallard


    there's a big difference between profit and 'profit margin.' Profit means nothing without contrasting it with COST.
     
  37. sol drums

    sol drums Active Member

    I really can't trust the gov't to help protect us. And i really don't see any alternative fueling becoming the majority for the next 20+ years. The big oil and auto-industry have so much to lose by this.

    and to the original post... My sis is a doc and making well over 70k a year, not counting her husbands salary. They just trading in their explorer for a GMC Yukon Delani bc they just had their second child and suppossedly need the extra room for road trips for the four of them plus the possibility of grandparents, so they won't be unconfortable... WTF?? The same grandparents and sis and I use to take road trips across the country to visit cousins when I was a kid. We are talking 12+ hour trips in a small 4 door!!!
     
  38. Eric-RPS13-

    Eric-RPS13- Member

    I gotta figure out what gas to use in the 240
    bp sucks butt and I have to hit the gas when I first start it up and get it hot other wise it stalls out. it was almost immediatly after I put BP in too. I heard people with fi had lots of troubles but dayamn.
    I put some octane stuff and alcohol in to balence out the BP gas that helped.
    I am trying chevron now.
    then to quiktrip if that is bad
     
    Last edited: May 8, 2006
  39. Brian

    Brian Active Member

    :hsugh: Err, yeah, but Profit has always meant something, even when by itself. P/E ratios, dividends, market capitalization are good for stocks and economics classes, but Profit is Profit.

    "Economists distinguish between normal profit and excess profit. Normal profit is the opportunity cost of the ENTREPRENEUR, the amount of profit just sufficient to keep the firm in business. If profit is any lower than that, then enterprise would be better off engaged in some alternative economic activity. Excess profit, also known as super-normal profit, is profit above normal profit and is usually evidence that the firm enjoys some MARKET POWER that allows it to be more profitable than it would be in a market with PERFECT COMPETITION. "

    Now read this link. Both pro and con Big Oil. Fact is they are raking in record profits like I said, while we pay $3/gal.

    http://www.usatoday.com/money/companies/earnings/2005-10-27-xom_x.htm
     
  40. Mad Mallard

    Mad Mallard the mad mallard

    yes, but let me put this to you:

    1: who in the world gets to decide when you make 'too much money,'

    and

    2: If the oil company only gets .08 to .10 a gallon in profit, and the federal & state governments gets .46 in tax revenue per gallo, (and has since gas was 1.00 a gal), who's really making the excess profit here?

     
    Last edited: May 8, 2006
  41. Brian

    Brian Active Member

    1) The FTC for monopolies, price fixing schemes, etc.

    2) The Govt's mandate is not "Maximize shareholder value". If the .46 hasn't gone up in proportion to gas prices maybe its time to increase the fixed rate.

    I know profit vs profit margin. Are you saying Exxon sold 75% more gas that quarter? Parse these 2 facts.

    Net income up 75% to $9.92 billion.
    Revenue up 32% to $100.7 billion.
     
  42. moose

    moose Infina Mooooooose!

    Kanchou already covered % vs actual $ (thanks), so I'll just list a few companies with higher profit margins than Exxon Mobile:

    American Express
    Intel
    Coca-Cola
    Microsoft
    3M
    Citigroup
    McDonalds
    General Electric

    Yet, I hear no "ZOMG PRICE GOUGING" on my double cheese burgers, my Coke Zero or my tape and staples...
     
  43. Mad Mallard

    Mad Mallard the mad mallard

    But where is cost? Where is cost of doing business?

    but back up a bit to answer my questions. ;p lemme see if I understand your view. Is answer to 1: The Federal Trade Commission decides how much money a company can make?

    and the answer 2: is that taxes on gas aren't high enough?

    Am I hearing you right?
     
  44. Brian

    Brian Active Member

    Sorta.

    1) If gas producers are up to anything illegal, yes the FTC can say "you screwed customers by charging them too much". This just happened with the record labels and it cost those businesses $$$$$ in the settlement. If it's a FAIR MARKET, then let supply/demand set the price.

    2) If the tax rate for gas was 46% at $1, why not 46% at $3? Something has to pay for social security. :p

    The cost of doing business would be ....

    Revenue = $100.7 billion minus Profit = $9.92 billion for.... $90.78 billion cost of doing business. It's hard to follow I know, but try to keep up! :keke: ;)

    Microsoft busted for monopolistic practices. Exxon & company, might be coming.
    The others are strong businesses and nobody is forced to buy their stuff. I *have* to buy gas and Windoze.
     
    Last edited: May 8, 2006
  45. Kokopelli

    Kokopelli Active Member

    How quickly people forget why they originally broke up Standard oil into Exxon and Mobile because of the monopolistic pricing power they had.

    Now Exxon-Mobile is back , BP and Amoco merged, Chevron-Texaco, Conoco-Phillips and RoyalDutch-Shell. Looks like the good ole days of monopoly price fixing are coming back.

    I am also very happy that we are giving the oil companies large tax breaks in their time of need. How could they possibly survive on only 9 billion a quarter in profits?
     
  46. bigb996

    bigb996 teh Wannabe Mod

    i only hate it bc im a poor college kid:) i dont complain though i just become angry at our stupid government.
     
  47. WrxCrazy

    WrxCrazy Active Member

    this is what happens to us when gas climbs for no reason.. i mean there is no earthquake, hurracane, etc etc and it just climbs up because summer is comming.. over all it shouldnt effect me i'm making 37-45 k a year depends where i work. and i'm fine and i have so many things to pay for also.. it's crazie.. making a buget now
     
  48. nsvwrx

    nsvwrx Active Member

    the avg american doenst make over 50k... and were speaking of the avg american last i read( a while back ) it was near 35k
     
  49. knhtrdr

    knhtrdr Active Member

    true but gas normally goes up some in the summer anyway..granted higher that usual

    so is conoco and shell the same gas?:eek:hnoes:
     
    Last edited: May 9, 2006
  50. 1ll-WRX

    1ll-WRX Active Member

    so the average income for "Americans" are 45k-50k....?....guess I need to step up my game.....thought i was doin o.k...:rolleyes:
     

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