My father-in-law thinks that high oil prices are a "bubble" that will

[driver8]

soon burst, and then gas prices will come down.

I bet him one hundred dollars that gas prices are not coming down anytime soon. (We set a time of two months.).

It is my opinion that these gas prices are hear to stay -- the days of cheap gas are over.

[Tangerine LaBamba]

1. A hundred bucks?

Wow. That might fill up your tank in two months.

Maybe ..........

[driver8]

2. That's what I'm thinking...it cost me $64.00 to fill my Camry this morning! n/t

[Vickers]

3. Just think...in two months, when he hands you that $100

you'll probably be able to buy almost 20 gallons of gas with it!

:thumbsup::thumbsup::thumbsup::thumbsup::thumbsup:

[lpbk2713]

4. Is he a regular Limbaugh listener?

OxyRush is Big Oil's highest paid spokesman.

[driver8]

7. No -- he's a Dem!

Of course, all he seems to care about is how things affect Israel...but that's something we don't mention when discussing politics with him!

[Warpy]

5. Just make sure you specified what "come down" means

because prices will drop this fall in an attempt to lull the stupid into thinking the GOP is doing their job of something besides giving us all the big elephant screw.

Prices might even fall to the $3.00 level for a few weeks, but certainly no longer. $3.60 is the ballpark of where they should be due to the fall in the value of the dollar.

[rurallib]

6. That is the line the M$M is selling these days

guess that will make us less pissed off when we buy gas. Maybe even quit blaming the fucking republicans.

[Richardo]

8. So does George Soros

The only difference is the word "soon".

http://www.cnbc.com/id/24944108/site/14081545

[Turbineguy]

9. I think your FIL is partially right

but given the 2 month time span, you'll win the bet.

About 25 percent of the fuel price is due to the futures trading structure and that will not be fixed as long as the repubs can prevent it.

And by the time it is fixed producers will cut supplies to maintain price.

Those who voted for repubs are getting what they voted for. The problem is, the rest of us are getting it too.

On Edit: May I suggest you take the in-Laws out for a nice meal with your winnings?

[The2ndWheel]

10. They'll come down

Then people will use more since it's cheaper, and the price will go back up. There is both an upside to being able to use most of the world's energy with a small percentage of the world's population, and a downside to not being able to use most of the world's energy with a small percentage of the world's population, when you're used to using as much as you want.

We'll go up and down day after day, week after week, month after month, year after year. So you might lose the bet one day, and then win the bet the next. Then win the next bet, and lose that bet the next day. You might have to spice up those bets a bit, to keep things interesting.

[earthside]

11. A Safe Bet

Take a look at this review of petroleum -- demand, supply and consequences:

http://www.aspo-usa.com/index.php?option=com_content&task=view&id=386&Itemid=91

There is undoubtedly a bit of a price bubble induced by speculators and that means there will be profit-taking, dropping the price per barrel some ... but high demand and plateaued supply will mean higher prices for the foreseeable future.

It is tempting to believe that high gasoline prices are just the consequences of energy corporations' conspiracy -- but that is just part of the psychological process of denying that our wasteful ways are what have really brought us to this point.

[driver8]

12. Thanks for that link -- good information! n/t

[Pab Sungenis]

13. They will, but that's not important.

We have to use this lesson the way we didn't use the lesson of the late '70's: GET OFF OF OIL.