Storm chasing may be suspended

[Shane Adams]

But it does take a special person to imply that the petroleum giants are somehow behind the turn of events in our economy because they are worried about cheap gas...

Then what's the reason?

 

[rdale]

The reason banks / investment firms / etc. are in trouble has nothing to do with reduced gas prices.

 

[Chris Nuttall]

Gas prices have fallen because crude oil prices have fallen along with everything else on the stock market.

 

[Donald Giuliano]

Then what's the reason?

Shane asks an important question that is too often brushed aside. To answer this I'd like to flip the situation to one where high prices are desired and relate what happened at a homeowner's association meeting I attended a few days ago in my neighborhood.

One of the members of the association is the primary developer of the properties here, and is still developing the few remaining lots and lives either in our neighborhood or close by. A lady at the meeting was upset with him for selling houses below the price she purchased hers for about 2 years ago and implied that he was dragging down the values of the houses in our neighborhood (I think she's trying to sell right now and is unable to get what she paid for it). He was very diplomatic and took quite a bit of unjustified criticism while gently trying to point out that it really is in his best interest to sell as high as he can, but no one's willing to pay more money right now so it's not like he can force them to. They are both genuinely nice people, but my take on the situation was that she lacks an understanding of basic economic realities and was blaming him for something he simply cannot control. Can we reasonably expect him to refuse to sell his houses in an attempt to artificially prop up prices, all the while paying interest on the mortgages he took out to build them and tying up his equity so he can't build more houses and make a living? Too many people bought too many houses the last 3-4 years, and now there are far fewer people to buy a similar number of houses. Housing prices cannot do anything but fall in this situation, since buyers have all the leverage--they can just go find another house (or ten) if a seller doesn't like the price they offer.

It's no different with oil, and right now those who buy oil futures are concerned that energy demand will decrease due to lower economic activity. In fact, this is already happening, just search for "falling oil demand" on Google. Excessive oil prices will inevitably lead to belt-tightening by and bankrupting of businesses that waste oil which in turn will inevitably lead to lower oil use and lower prices. It's all about supply and demand--there's no great conspiracy orchestrating the price of oil, though many politicians on both sides would like us to think so when it's to their advantage.

It's also important to keep in mind that the energy prices we saw in the late 1990s were unsustainably low and led to an explosion of wasteful business and individual practices. This in turn led to an explosion in worldwide demand for oil, which drastically increased the price as more people wanted a finite resource. As a consequence, this year we've seen unsustainably high oil prices which are in turn forcing both business and individuals to modify their behavior and use less oil.

In short, today's high oil prices simply indicate that we're in an uncomfortable period of the constant feedback loop that makes market economies so effective (though painful at times), and now we're having to adjust our behavior to account for the reality that has been there all along; namely, that oil is not a limitless resource. Given that fact, I doubt you'll find too many dissenters to the view that finding a new source of energy should be our country's number priority since something like 80-90% of the world's oil reserves are controlled by unfriendly dictatorships (as large as Exxon-Mobil is, they're a bit player on the world market). At present they want our money and are not making as much trouble as they could, but unfortunately history teaches us that a severe threat is often the only way to force humankind to make a change as significant as the one we're facing now with regards to energy, so it's taken us a long time to get to this point. That is, assuming we have even gotten there yet.

 

[Shane Adams]

The reason banks / investment firms / etc. are in trouble has nothing to do with reduced gas prices.

I was implying the opposite.

 

[Stephen Levine]

What a catchy title! Regardless of market issues and political views, I believe that storm chasing itself will live. Even if due to prohibitive prices, a majority of chasers were to limit their juants to just local chases or trips of less than 100 miles, or a single short vacation to the "Alley".
Where there's a will there's a way.
And yes, I put in a plug for renewable energy. We have the technology now, it's just a matter of making it a societal and political commitment.

 

[Jason Foster]

In place of a suspension of chasing...perhaps we need a "probation before judgement"....if everyone behaves for one year, than the case will be dismissed.

So no one should be raking up any more debt....and no one buy and houses they can't afford. If we behave, then perhaps we won't get that suspension.

 

[Sarah Austin]

I think the storm chasing community should do some research in order find a way to use methanol from the burritos at All Sups gas stations. There would be an endless supply of fuel. Storm chasing would never end.

Would that be considered thinking green?

 

[Jason Boggs]

I think the storm chasing community should do some research in order find a way to use methanol from the burritos at All Sups gas stations. There would be an endless supply of fuel. Storm chasing would never end.

Would that be considered thinking green?

If I ate an Allsups burrito and used the methane gas as a result of eating the burrito, nothing would be green. Everything would turn brown and the air would have a horrible stench for weeks on end. Hey, that's an idea! Maybe I would have a supercell al to myself with this kind of thinking. Allsups, here I come!!!

 

[Terry Tyler]

If I ate an Allsups burrito.

Allsups burritos combined with a lack of restroom.

the burritos at All Sups gas stations.

After a few Allsups burritos.

this is a bit off topic, but i keep seeing this word...what is allsups???

maybe a slang term for a burrito ate before/after a chase that hopes that all-supercells will be out there???

maybe a chain or franchise of service stations scattered about the central plains???

youll have to help a southern brother out...never heard of such a thing...

 

[Terry Tyler]

http://www.google.com/search?q=Allsups+burritos

my bad rdale!

never thought about googling it, figured it was an inside thing...

 

[Dan Nichols]

If so, seriously consider the short chase.

If a buddy, say Joe or Bob, gets better storms and he lives only 8 miles north, let's just go to his place if the radar indicates, and hang out on his porch. BYOB if need be.......Or maybe it will be at the WalMart, down the road, with its overhanging roof for staying dry.

Luckier yet are the ones in the middle of a prevailing storm path.

Hey, did anyone get the thundersnow in Connecticut, or the rest of the NE last Friday?