Trade in your SUV? Sorry, it's now worthless

<TABLE class=contentpaneopen><TBODY><TR><TD class=contentheading width="100%">Trade in your SUV? Sorry, it's now worthless </TD><TD class=buttonheading align=right width="100%"> </TD><TD class=buttonheading align=right width="100%"> </TD><TD class=buttonheading align=right width="100%"> </TD></TR></TBODY></TABLE><TABLE class=contentpaneopen><TBODY><TR><TD vAlign=top colSpan=2>
Last week, we told you that a glut of SUVs on used car lots had led to low prices, making this a great time to buy a recent used sport utility or truck, if you have the need. Throughout the weekend, media reports have focused on the other side of that coin.
If you own an SUV, it's probably losing value.
Gas prices rising steadily toward $4 a gallon have driven million of consumers to buy smaller cars this year. When they buy that small or midsize sedan, a tremendous number have used an SUV as a trade-in -- leading to a glut of SUVs sitting on used car dealer lots this spring.
The AP explains, "Used SUV sales in March were down 14 percent nationally compared to last year, according to data compiled by CNW Marketing Research. That follows drops in used SUV sales of more than 8 percent for the first two months of the year, compared to the same months in 2007." The "has sent used SUV prices plummeting, giving owners a shock when they try to trade theirs in and find out how little they can get."
The Orlando Sentinel says "Used-car dealers don't want the big vehicles on their lots anymore because hardly anyone is buying them. Some won't take them at any price."
Guy Lance, sales manager at Admiral Nissan in Pleasantville, New Jersey, told the Press of Atlantic City that he increasingly sees "people trying to trade in SUVs that are less than a year old." Lance added, "Normally, people don't trade out that quickly," but, "Let's admit it, when you go to a gas station and say, 'Just put $90 in my truck,' that's a little hard to swallow."
Dave Eller, general sales manager of Hurley Chrysler Jeep in DeLand Florida, told that state's News-Journal that "some large vehicles are dropping thousands of dollars in value each month. … Anything diesel has dropped $5,000 in the past five months," he added.
Used car dealers facing lots filled with unwanted SUVs are struggling to figure out how to unload them. Many may be going overseas. Sales manager Al Johnson of AutoNation's Maroone Nissan in Pembroke, Florida told the AP that "the dealership had been exporting about one car a month" in recent years, but "this year they average roughly 10.
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i know for sure my next car will be a hybrid. i aint need to get from 0-60 in 2 seconds. gimmie comfort and less time filling at the gas station.

I will just keep driving my aviator and like it. Life is too short to worry about gas prices.

I've got an Accord and also a Yukon. When you have six people in your family you need the room, gas prices be damned.

I was recently in hawaii on a family vacation and saw something that gave me a wake up call about gas prices, small cars and big suvs.

Four people had rented a tiny hybrid vehicle. I dont recall what the brand was, but it was TINY.

They were pulling out doing a left turn and some guy in a mid sized car burned a red light at say 40mph, hit them and they all died.

No T-Boning at 40mph is going to feel good, but I'll bet ya that if they were in a truck or suv, they'd have walked away from the accident.

Instead their DEAD.

Gas = Expensive

Life = Priceless. ESPECIALLY if you have babies/kids and a pretty wife.

I called around 2 a few dealerships here in Houston and they wouldn't give me fair value on an SUV...i did state that I had a hummer....which I dont

Kev said:

I was recently in hawaii on a family vacation and saw something that gave me a wake up call about gas prices, small cars and big suvs.

Four people had rented a tiny hybrid vehicle. I dont recall what the brand was, but it was TINY.

They were pulling out doing a left turn and some guy in a mid sized car burned a red light at say 40mph, hit them and they all died.

No T-Boning at 40mph is going to feel good, but I'll bet ya that if they were in a truck or suv, they'd have walked away from the accident.

Instead their DEAD.

Gas = Expensive

Life = Priceless. ESPECIALLY if you have babies/kids and a pretty wife.

Click to expand...

The idea that SUV's are safer than cars is not as clear-cut as you may think. It is not necessarily so.

I really don't understand why so many buy SUV if your not going in the country or off-roading. What purpose does a big vehicle like that serves besides safety. It handles badly in turns and manoevres. Uses alot of gas because of the big engine and at the same time can't go fast because it's too heavy.

Yet A 12 Year Old Geo Metro Can Fetch As Much As 7300.00

http://www.cnn.com/2008/LIVING/wayoflife/05/20/geo.metro/index.html?iref=mpstoryview

(CNN) -- It's a 12-year-old oft-mocked clunker of an automobile.
But Marci Solomon is hoping she'll be the one laughing -- all the way to the bank -- when her Geo Metro saves her from skyrocketing gas prices.
Solomon, like many others, was taking a huge hit when it came to gas prices. With her 100-mile commute to and from work each day, she saw no end in sight. Then she rediscovered the Geo Metro.


"I used to be a car snob, and I used to be too vain to drive anything that doesn't shine," said Solomon, an electrician. "But now it's about, do I want to eat, or do I want to make it to work? I want to do both."
The Metro has been making a huge comeback, especially on eBay, where Solomon bought the car, because of its extremely high gas mileage.


The 1996 Metro's average of 40 miles per gallon nears that of the hybrid 2008 Toyota Prius -- priced at $21,000 for the cheapest model -- and bests most current cars by a long shot, according to government ratings. Older models of the Geo Metro, specifically cars from 1991 and the XFi edition, have the same average as the hybrid. See how the Geo Metro stacks up with the Toyota Prius »

Solomon toyed with the idea of purchasing a Prius but decided that for a price of $7,300, the Metro was the more economical option.
For the most part, Solomon plans on using the car for commuting from her home in Rochester, Washington, to her job. The vehicle she has now, a Honda Element, was getting 28 mpg, and she was filling up twice a week, costing her nearly $100. Stations were charging $3.97 a gallon in her area Tuesday, she said. iReport: Tell us how high gas prices are affecting you
The Metro is an investment in the future, Solomon said, even if she did pay more than five times the Blue Book value of the car.


"It was all about saving money," she said. "I don't think gas is ever going to go down, and these are going to be the types of solutions we have to turn to. I wanted to beat the rush."



The rush may have begun.

The 1996 2-door 3-cylinder Metro Solomon now owns opened on eBay May 7 with a bid of $200. A week later, Solomon won the car auction with a bid of $7,300. In 1995, a new Metro hatchback sold for about $9,000, according to Auto Mall USA.


In May alone, 43 Metros of various years and models were sold on eBay, ranging in price from $221.50 to Solomon's bid of $7,300. The cars have been hot items, drawing upwards of 49 bids on certain vehicles, with many of the auctions coming down to last-second bidding wars. On Tuesday morning, 34 Metros were still up for grabs.


Since her eBay purchase, Solomon has acquired another Metro, which she is considering flipping on eBay for profit. She has her eye on a third at a local car lot.
"To be honest, I'm thinking of scarfing up any Geo Metro I can find," she said.


Solomon isn't alone in trying to profit off of a gas-saving craze. Brenton Netz has been selling fixed-up Metros and Ford Festivas for two years now.
After buying a Metro on Craigslist in Montana and driving it back to his home in St. Cloud, Minnesota, Netz realized how rarely he was making trips to the pump.


"I thought the gas gauge was broken," Netz said. "I couldn't believe the gas mileage I was getting."


He realized that he had stumbled upon a possible side business and began buying one-way tickets to states in the West to purchase as many of the cars as he could. Netz said he has sold about a dozen cars and has eight more sitting in his backyard.


His cars go up for sale only one at a time because he knows that putting up a couple at a time would drive down the value and cut into his profit.
Netz says consumers don't seem to mind paying more than the retail value, and if they do, they generally stop feeling that way after they pick up the cars. He's gotten phone calls and e-mails from customers saying how thrilled they are with the mileage.


It seems, Netz said, people are beginning to realize that their car choices need to be focused more on practicality than status and appearance.
"Gas prices are definitely driving increased popularity in the Metro, which at times wasn't cool," he said. "Now the coolness factor is stemming from the fact that you're getting 50 miles per gallon and never having to fill up."

<TABLE cellSpacing=0 cellPadding=0 width=770 border=0><TBODY><TR><TD vAlign=top width=15 rowSpan=3></TD><TD class=t1tease vAlign=top width=625><!-- ================== content ================== --><TABLE height=100 cellSpacing=0 cellPadding=0 width=130 align=left border=0><TBODY><TR vAlign=center align=left><TD width=120> </TD><TD width=10> </TD></TR></TBODY></TABLE>Best gas mileage cars
<TABLE cellSpacing=0 cellPadding=1 width=170 align=right bgColor=#dddddd border=0><TBODY><TR><TD width=5 rowSpan=7><TD colSpan=2 height=5></TD><TD width=5 rowSpan=7></TD></TR><TR vAlign=center></TD><TD class=tease colSpan=2></TD></TR><TR vAlign=top><TD class=tease align=middle></TD><TD class=tease></TD></TR><TR vAlign=top><TD class=tease align=middle></TD><TD class=tease></TD></TR><TR vAlign=top><TD class=tease align=middle></TD><TD class=tease></TD></TR><TR><TD colSpan=4 height=5></TD></TR></TBODY></TABLE>If you're looking to save fuel, these are the cars to buy.

NEW YORK (CNN/Money) -- These cars top the rankings in the United States Department of Energy and Environmental Protection Agency's 2004 Fuel Economy Guide. These are the cars that got the best gas mileage, according to government tests.

<TABLE cellSpacing=2 cellPadding=3 width="100%" border=0><TBODY><TR vAlign=center><TD class=tease style="COLOR: #ffffff" align=middle bgColor=#003366 colSpan=8>Best Gas Mileage
</TD></TR><TR vAlign=center><TD class=mergerhead>Make</TD><TD class=mergerhead>Model</TD><TD class=mergerhead>Engine size (liters)</TD><TD class=mergerhead>Cylinders</TD><TD class=mergerhead>Transmission</TD><TD class=tease style="COLOR: #ffffff" bgColor=#cc0000>City</TD><TD class=tease style="COLOR: #ffffff" bgColor=#cc0000>Hwy</TD><TD class=mergerhead>Est. annual fuel cost</TD></TR><TR class=chartcolor1><TD class=tease>Honda</TD><TD class=tease>Insight</TD><TD class=tease align=middle>1</TD><TD class=tease align=middle>3</TD><TD class=tease>5-speed manual</TD><TD class=tease align=middle>60</TD><TD class=tease align=middle>66</TD><TD class=tease align=right>$405</TD></TR><TR class=chartcolor2><TD class=tease>Toyota</TD><TD class=tease>Prius</TD><TD class=tease align=middle>1.5</TD><TD class=tease align=middle>4</TD><TD class=tease>Variable automatic</TD><TD class=tease align=middle>60</TD><TD class=tease align=middle>51</TD><TD class=tease align=right>$466</TD></TR><TR class=chartcolor1><TD class=tease>Honda</TD><TD class=tease>Civic Hybrid</TD><TD class=tease align=middle>1.3</TD><TD class=tease align=middle>4</TD><TD class=tease>Variable automatic</TD><TD class=tease align=middle>48</TD><TD class=tease align=middle>47</TD><TD class=tease align=right>$541</TD></TR><TR class=chartcolor2><TD class=tease>Volkswagen</TD><TD class=tease>Diesel New Beetle/Golf/Jetta</TD><TD class=tease align=middle>1.9</TD><TD class=tease align=middle>4</TD><TD class=tease>5-speed manual</TD><TD class=tease align=middle>38</TD><TD class=tease align=middle>46</TD><TD class=tease align=right>$598</TD></TR><TR class=chartcolor1><TD class=tease>Honda</TD><TD class=tease>Civic</TD><TD class=tease align=middle>1.7</TD><TD class=tease align=middle>4</TD><TD class=tease>5-speed manual</TD><TD class=tease align=middle>36</TD><TD class=tease align=middle>44</TD><TD class=tease align=right>$635</TD></TR><TR class=chartcolor2><TD class=tease>Toyota</TD><TD class=tease>Echo</TD><TD class=tease align=middle>1.5</TD><TD class=tease align=middle>4</TD><TD class=tease>5-speed manual</TD><TD class=tease align=middle>35</TD><TD class=tease align=middle>43</TD><TD class=tease align=right>$651</TD></TR><TR class=chartcolor1><TD class=tease>Toyota</TD><TD class=tease>Scion XA</TD><TD class=tease align=middle>1.5</TD><TD class=tease align=middle>4</TD><TD class=tease>4-speed automatic</TD><TD class=tease align=middle>32</TD><TD class=tease align=middle>38</TD><TD class=tease align=right>$727</TD></TR><TR class=chartcolor2><TD class=tease>Toyota</TD><TD class=tease>Corolla</TD><TD class=tease align=middle>1.8</TD><TD class=tease align=middle>4</TD><TD class=tease>5-speed manual</TD><TD class=tease align=middle>32</TD><TD class=tease align=middle>40</TD><TD class=tease align=right>$705</TD></TR><TR class=chartcolor1><TD class=tease>Toyota</TD><TD class=tease>Scion XB</TD><TD class=tease align=middle>1.5</TD><TD class=tease align=middle>4</TD><TD class=tease>5-speed manual</TD><TD class=tease align=middle>31</TD><TD class=tease align=middle>35</TD><TD class=tease align=right>$773</TD></TR><TR class=chartcolor2><TD class=tease>Toyota</TD><TD class=tease>Celica</TD><TD class=tease align=middle>1.8</TD><TD class=tease align=middle>4</TD><TD class=tease>4-speed automatic</TD><TD class=tease align=middle>29</TD><TD class=tease align=middle>36</TD><TD class=tease align=right>$781</TD></TR><TR vAlign=center><TD class=credit colSpan=8>Source: Fueleconomy.gov
Note: Est. annual fuel cost is CNN/Money's calculation based on 15,000 miles of 55 percent city, 45 percent highway driving and a gallon of gasoline costing $1.71, which was the national average for regular gasoline on March 2, 2004. For cars using diesel fuel, the price is assumed to be $1.69, the national average for diesel fuel on that date.
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<TABLE cellSpacing=2 cellPadding=3 width="100%" border=0><TBODY><TR vAlign=center><TD class=tease style="COLOR: #ffffff" align=middle bgColor=#003366 colSpan=8>Large cars</TD></TR><TR vAlign=center><TD class=mergerhead>Make</TD><TD class=mergerhead>Model</TD><TD class=mergerhead>Engine size (liters)</TD><TD class=mergerhead>Cylinders</TD><TD class=mergerhead>Transmission</TD><TD class=tease style="COLOR: #ffffff" bgColor=#cc0000>City</TD><TD class=tease style="COLOR: #ffffff" bgColor=#cc0000>Hwy</TD><TD class=mergerhead>Est. annual fuel cost</TD></TR><TR class=chartcolor1><TD class=tease>CHEVROLET</TD><TD class=tease>IMPALA</TD><TD class=tease align=middle>3.4</TD><TD class=tease align=middle>6</TD><TD class=tease>4-speed automatic</TD><TD class=tease align=middle>21</TD><TD class=tease align=middle>32</TD><TD class=tease align=right>$948</TD></TR><TR class=chartcolor2><TD class=tease>CHEVROLET</TD><TD class=tease>MALIBU MAXX</TD><TD class=tease align=middle>3.5</TD><TD class=tease align=middle>6</TD><TD class=tease>4-speed automatic</TD><TD class=tease align=middle>22</TD><TD class=tease align=middle>30</TD><TD class=tease align=right>$972</TD></TR><TR class=chartcolor1><TD class=tease>CHRYSLER</TD><TD class=tease>CONCORDE/LHS</TD><TD class=tease align=middle>2.7</TD><TD class=tease align=middle>6</TD><TD class=tease>4-speed automatic</TD><TD class=tease align=middle>21</TD><TD class=tease align=middle>29</TD><TD class=tease align=right>$1,010</TD></TR><TR class=chartcolor2><TD class=tease>DODGE</TD><TD class=tease>INTREPID</TD><TD class=tease align=middle>2.7</TD><TD class=tease align=middle>6</TD><TD class=tease>4-speed automatic</TD><TD class=tease align=middle>21</TD><TD class=tease align=middle>29</TD><TD class=tease align=right>$1,010</TD></TR><TR class=chartcolor1><TD class=tease>BUICK</TD><TD class=tease>LESABRE</TD><TD class=tease align=middle>3.8</TD><TD class=tease align=middle>6</TD><TD class=tease>4-speed automatic</TD><TD class=tease align=middle>20</TD><TD class=tease align=middle>29</TD><TD class=tease align=right>$1,028</TD></TR><TR vAlign=center><TD class=tease style="COLOR: #ffffff" align=middle bgColor=#003366 colSpan=8>Midsize cars</TD></TR><TR style="HEIGHT: 12.75pt" height=17><TD class=mergerhead>Make</TD><TD class=mergerhead>Model</TD><TD class=mergerhead>Engine size (liters)</TD><TD class=mergerhead>Cylinders</TD><TD class=mergerhead>Transmission</TD><TD class=tease style="COLOR: #ffffff" bgColor=#cc0000>City</TD><TD class=tease style="COLOR: #ffffff" bgColor=#cc0000>Hwy</TD><TD class=mergerhead>Est. annual fuel cost</TD></TR><TR class=chartcolor1><TD class=tease>TOYOTA</TD><TD class=tease>PRIUS</TD><TD class=tease align=middle>1.5</TD><TD class=tease align=middle>4</TD><TD class=tease>Variable Automatic</TD><TD class=tease align=middle>60</TD><TD class=tease align=middle>51</TD><TD class=tease align=right>$466</TD></TR><TR class=chartcolor2><TD class=tease>HYUNDAI</TD><TD class=tease>ELANTRA</TD><TD class=tease align=middle>2.0</TD><TD class=tease align=middle>4</TD><TD class=tease>5-speed manual</TD><TD class=tease align=middle>27</TD><TD class=tease align=middle>34</TD><TD class=tease align=right>$831</TD></TR><TR class=chartcolor1><TD class=tease>HONDA</TD><TD class=tease>ACCORD</TD><TD class=tease align=middle>2.4</TD><TD class=tease align=middle>4</TD><TD class=tease>5-speed manual</TD><TD class=tease align=middle>26</TD><TD class=tease align=middle>34</TD><TD class=tease align=right>$844</TD></TR><TR class=chartcolor2><TD class=tease>CHEVROLET</TD><TD class=tease>MALIBU</TD><TD class=tease align=middle>2.2</TD><TD class=tease align=middle>4</TD><TD class=tease>4-speed automatic</TD><TD class=tease align=middle>24</TD><TD class=tease align=middle>34</TD><TD class=tease align=right>$869</TD></TR><TR class=chartcolor1><TD class=tease>CHEVROLET</TD><TD class=tease>6</TD><TD class=tease align=middle>2.2</TD><TD class=tease align=middle>4</TD><TD class=tease>4-speed automatic</TD><TD class=tease align=middle>24</TD><TD class=tease align=middle>34</TD><TD class=tease align=right>$869</TD></TR><TR vAlign=center><TD class=tease style="COLOR: #ffffff" align=middle bgColor=#003366 colSpan=8>4WD SUVs</TD></TR><TR vAlign=center><TD class=mergerhead>Make</TD><TD class=mergerhead>Model</TD><TD class=mergerhead>Engine size (liters)</TD><TD class=mergerhead>Cylinders</TD><TD class=mergerhead>Transmission</TD><TD class=tease style="COLOR: #ffffff" bgColor=#cc0000>City</TD><TD class=tease style="COLOR: #ffffff" bgColor=#cc0000>Hwy</TD><TD class=mergerhead>Est. annual fuel cost</TD></TR><TR class=chartcolor2><TD class=tease>JEEP</TD><TD class=tease>LIBERTY 4WD</TD><TD class=tease align=middle>2.4</TD><TD class=tease align=middle>4</TD><TD class=tease>5-speed manual</TD><TD class=tease align=middle>20</TD><TD class=tease align=middle>24</TD><TD class=tease align=right>$1,155</TD></TR><TR class=chartcolor1><TD class=tease>NISSAN</TD><TD class=tease>MURANO AWD</TD><TD class=tease align=middle>3.5</TD><TD class=tease align=middle>6</TD><TD class=tease>Variable Automatic</TD><TD class=tease align=middle>20</TD><TD class=tease align=middle>24</TD><TD class=tease align=right>$1,155</TD></TR><TR class=chartcolor2><TD class=tease>CHEVROLET</TD><TD class=tease>TRACKER 4WD HARDTOP</TD><TD class=tease align=middle>2.5</TD><TD class=tease align=middle>6</TD><TD class=tease>4-speed automatic</TD><TD class=tease align=middle>19</TD><TD class=tease align=middle>22</TD><TD class=tease align=right>$1,242</TD></TR><TR class=chartcolor1><TD class=tease>SATURN</TD><TD class=tease>VUE AWD</TD><TD class=tease align=middle>3.5</TD><TD class=tease align=middle>6</TD><TD class=tease>5-speed automatic</TD><TD class=tease align=middle>19</TD><TD class=tease align=middle>25</TD><TD class=tease align=right>$1,150</TD></TR><TR vAlign=center><TD class=tease style="COLOR: #ffffff" align=middle bgColor=#003366 colSpan=8>Standard pickups</TD></TR><TR vAlign=center><TD class=mergerhead>Make</TD><TD class=mergerhead>Model</TD><TD class=mergerhead>Engine size (liters)</TD><TD class=mergerhead>Cylinders</TD><TD class=mergerhead>Transmission</TD><TD class=tease style="COLOR: #ffffff" bgColor=#cc0000>City</TD><TD class=tease style="COLOR: #ffffff" bgColor=#cc0000>Hwy</TD><TD class=mergerhead>Est. annual fuel cost</TD></TR><TR class=chartcolor1><TD class=tease>FORD</TD><TD class=tease>RANGER PICKUP 2WD</TD><TD class=tease align=middle>2.3</TD><TD class=tease align=middle>4</TD><TD class=tease>5-speed manual</TD><TD class=tease align=middle>24</TD><TD class=tease align=middle>29</TD><TD class=tease align=right>$959</TD></TR><TR class=chartcolor2><TD class=tease>MAZDA</TD><TD class=tease>B2300 2WD</TD><TD class=tease align=middle>2.3</TD><TD class=tease align=middle>4</TD><TD class=tease>5-speed manual</TD><TD class=tease align=middle>24</TD><TD class=tease align=middle>29</TD><TD class=tease align=right>$959</TD></TR><TR class=chartcolor1><TD class=tease>NISSAN</TD><TD class=tease>FRONTIER 2WD</TD><TD class=tease align=middle>2.4</TD><TD class=tease align=middle>4</TD><TD class=tease>5-speed manual</TD><TD class=tease align=middle>22</TD><TD class=tease align=middle>27</TD><TD class=tease align=right>$1,036</TD></TR><TR class=chartcolor2><TD class=tease>TOYOTA</TD><TD class=tease>TOYOTA TACOMA 2WD</TD><TD class=tease align=middle>2.4</TD><TD class=tease align=middle>4</TD><TD class=tease>4-speed automatic</TD><TD class=tease align=middle>22</TD><TD class=tease align=middle>25</TD><TD class=tease align=right>$1,085</TD></TR><TR class=chartcolor1><TD class=tease>CHEVROLET</TD><TD class=tease>COLORADO 2WD</TD><TD class=tease align=middle>3.5</TD><TD class=tease align=middle>5</TD><TD class=tease>4-speed automatic</TD><TD class=tease align=middle>19</TD><TD class=tease align=middle>24</TD><TD class=tease align=right>$1,179</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>

royalfan said:

I will just keep driving my aviator and like it. Life is too short to worry about gas prices.

Click to expand...

i fell the same way.. if 25 extra dollars a week is going to kill you then you should just use the bus

look at this goomer

It may be the mother of all doom and gloom gas price predictions: $12 for a gallon of gas is “inevitable.”<o></o>​

<o></o>
Robert Hirsch, Management Information Services Senior Energy Advisor, gave a dire warning about the potential future of gas prices on CNBC’s May 20 “Squawk Box”. He told host Becky Quick there was no single thing that would solve the problem, due to the enormity of the problem.


The prices that we’re paying at the pump today are, I think, going to be ‘the good old
days,’ because others who watch this very closely forecast that we’re going to be hitting $12 and $15 per gallon,” Hirsch said. “And then, after that, when oil – world oil production goes into decline, we’re going to talk about rationing. In other words, not only are we going to be paying high prices and have considerable economic problems, but in addition to that, we’re not going to be able to get the fuel when we want it.”
<o></o>
Hirsch told the Business & Media Institute the $12-$15 a gallon wasn’t his prediction, but that he was citing Charles T. Maxwell, described as the “Dean of Oil Analysts” and the senior energy analyst at Weeden & Co. Still, Hirsch admitted the high price was inevitable in his view.<o></o>
<o></o>
“I don’t attempt to predict oil prices because it’s been impossible in the past,” Hirsch said in an e-mail. “We’re into a new era now, and over the next roughly five years the trend will be up significantly. However, there may be dips and bumps that no one can forecast; I wouldn’t be at all surprised. To me the multi-year upswing is inevitable.”<o></o>
<o></o>
Maxwell’s original $12-15-a-gallon prediction came in a February 5 interview with Energytechstocks.com, a Web site run by two former Wall Street Journal staffers.<o></o>
<o></o>
“[Maxwell] expects an oil-induced financial crisis to start somewhere in the 2010 to 2015 timeframe,” Energytechstocks.com reported. “He said that, unlike the recession the <st1lace w:st="on"><st1:country-region w:st="on">U.S.</st1:country-region></st1lace> appears to be in today, ‘This will not be six months of hell and then we come out of it.’ Rather, Maxwell expects this financial crisis to last at least 10 or 12 years, as the world goes through a prolonged period of price-induced rationing (eg, oil up to $300 a barrel and U.S. pump prices up to $15 a gallon).”<o></o>
<o></o>
According to associate of Maxwell at Weeden & Co., Maxwell is out of the country and currently unavailable for comment.<o></o>
<o></o>
Maxwell’s biography on the Weeden & Co. Web site said he “has been ranked by the <st1lace w:st="on"><st1:country-region w:st="on">U.S.</st1:country-region></st1lace> financial institutions as the No. 1 oil analyst for the years 1972, 1974, 1977 and 1981-1986,” according to polls taken by Institutional Investor magazine. <o></o>
<o></o>
“In addition, for the last 17 years he has been an active member of an Oxford-based organization comprised of OPEC and other industry executives from 30 countries who meet twice a year to discuss trends within the energy industry.”<o></o>
<o></o>
Although Maxwell’s prediction is for the long-term, not everyone supports high-end predictions, even in the short-term. CNBC contributor and the vice president of risk management for MF Global (NYSE:MF) John Kilduff said on “The Call” May 7that he expected gas prices to drop following the Chinese Olympics, as China’s economic boom slows down.


http://www.businessandmedia.org/articles/2008/20080521145247.aspx

Gas prices have been over $4 here forever. Costa Rica is the land of shit Hyundai's and luxury SUV's.

Used SUV's prices might drop because there's more supply than demand, but the SUV isn't going anywhere. SUV's will remain popular. Claims that the SUV is dead and that SUVs are worthless are from whiny green-commie wankers enjoying a wet dream fantasy.

I'm certainly never going to put my three kids in the back of a sedan, let alone some subcompact car.

Used car dealerships should start shipping those excess SUVs overseas where there has always been high gas prices and there is still strong demand.

I was looking into buying an F150 this week and was surprised at first to see 4 runners and expeditions at a same or lesser selling price. Then it made sense. I'll be glad to see those big ass trucks off the road. Usually it's bad women drivers behind a suburban driving wreckless trying to kill me. Glad gas went up.

AngleBroom said:

I was looking into buying an F150 this week and was surprised at first to see 4 runners and expeditions at a same or lesser selling price. Then it made sense. I'll be glad to see those big ass trucks off the road. Usually it's bad women drivers behind a suburban driving wreckless trying to kill me. Glad gas went up.

Click to expand...

You'll definetly find a deal if you are patient, F-150 is about 15 mpg, I kinda wish I bought a 4 cylinder mini-truck now.

I think the smaller 4 cylinder SUV's like a CR-V, won't get hit too bad, but the 8 cylinder monsters will.

There does come a point that you can just say.... OK, I got this Suburban for 8k instead of 20k, so I can buy gas, and drive it anyway.

Sales of new ones will certainly plummet.

damn...I was thinking about selling my Tahoe, buying an Accord and pocketing the 5k left over. It sounds like I am screwed.