Oil prices rising like woah

$200 a barrel oil?

That’ll make gas what? Like a million dollars a gallon (I’m guessing).

I think I’m going to have to get another job or a better one just to afford to go to work.

But on the plus side, this problem has spawned awesome infographics from the Economist:

CHART: Oil prices - by the Economist

5 Comments

  1. Ted

    We can easily apply an exponential, if not quadratic, regression analysis to the above data. I don’t have my TI-83 handy, but a rough visual estimate puts it over $300/barrel by 2012.

    You literally will have to find a better job just to afford to go to work.

    Finding alternative sources of energy is an absolute necessity if we want to avoid biting the pillow until our mouths bleed. Anyone with an SUV shall be categorized as retarted. No offense to anyone, my sister drives an X-Terra. She’ll have to say adios to her friends in Raleigh.

    Still won’t be enough to cancel out my insane NYC rent, but it makes me feel a *little* better than I can walk or take a $2 subway anywhere I ever need to go.

  2. Chris

    Still won’t be enough to cancel out my insane NYC rent, but it makes me feel a *little* better than I can walk or take a $2 subway anywhere I ever need to go.

    Ted,
    Recently I’ve read quite a few people (the names aren’t coming to mind right now) that say that American suburban life will be coming to an end due to the high price of fuel. We won’t be able to afford living so far away from each other and the places we shop and work.

  3. Ted

    Right, if nothing else changes and oil continues to rise. But something will have to change.

    I remember when the Segway was unveiled around 2002 that people said it would revolutionize how cities are built and how we live and travel. It’s 6 years later now and I’ve only seen about 3 in use, ever… but what do we think about this now?

  4. Ian

    Segways still suck. It doesn’t matter if the thing is electric, we still use fossil fuels to produce electricity. Anywho, one interesting thing is that the price of oil continues to rise even though supply has as well. In the end though, I think that the oil companies are making a pretty big mistake with their business practice. I think the idea way to price gasoline, from their standpoint, would be to make it as high as you can without making people turn to alternative energy or public transportation. In the end it will come back to bite them on the ass.

  5. Ted

    http://www.forbes.com/2008/04/30/home-india-billion-forbeslife-cx_mw_0430realestate.html

    I don’t know how much Reliance Industries is related to gasoline, but they do deal in oil/petrochemicals, and this is how rich these oil people are, regardless.

    a $2 billion home.