Originally Posted by
Hohes
No offence, but buying a 3/4 ton truck in times like these lacks both a finger on the here-and-now pulse and foresight for the obvious days ahead. Follow Brkln's advise.
Or better yet, I'd be selling the big truck soon, or else its depreciation through oversupply of second hand vehicles flooding the sellers pages of the newspaper will be rather nasty, all on top of 4.50 a gallon. Cant find a buyer for it, cant afford to fill it. Let it rust. A common scenario after a boom. You see evidence of it all over the place in Japan: bubble times... massive excess... bubble bursts... huge over capacity that's too expensive to maintain/no customers... infrastructure cant be sold off because no one afford to run it. So it rusts. That's why I can buy a massive 20 bedroom hotel in my town on a 1 acre block for... $200,000. It is relatively worthless because its the left over capacity from an excessive bubble. Like 3/4 ton trucks will be (when owned for leisure or amusement)
Phillipe's data should make you go pale (or start a big war) and Roo's comparative assessment is right on the mark. $4 is still well below equilibrium.
Its not just happening in America, but America will feel it the most. And the pain from filling yer tank will be small relative to the pain at the supermarket checkout (and housing slump + credit squeeze + stagflation + dying USD). Sorry be so negative.
Whilst everyone was bubbling on about Global Climate Change, they forgot about Peak Oil. Its fucking horrendously scary.