"Shortwave Sportfishing" wrote in message
...
On Sun, 28 Aug 2005 18:31:58 GMT, "NOYB" wrote:


wrote in message
. ..
Wanna bet the hurricane is not going to blow up a bunch of oil rigs,
refineries and loading ports?

Not me.

This may be the $3.00 gas scenario they talk about ... like about
tuesday!.


There was a show on FX about 3 months ago, called "Oil Storm". Is Katrina
the real life "Oil Storm"?

Oil crisis film takes market fears to living rooms

I can't see it. At some point, the rebellion will start and the
bubble will burst. I'm of the opinion that another month or so of
these prices is going to break the inflationary "force field" of
eliminating fuel/food pricing with the "core" inflation figure and the
CPI will sky rocket.

Consider this - my fuel bill this year, not counting the boats, just
my diesel pickup and my wife's car, has doubled over last year.

Doubled - not a portion of - doubled.

And we do a pre-Labor Day weekend deal where we purchase the exact
same grocery basket that we did the previous year - one week before
Labor Day. This years grocery basket cost us $75 more this year than
last year.

Then we have another problem. We supply heat to our apartments and
last year we were paying $1.75 per gallon on a 2000 gallon
pre-purchase from an oil dealer we've done business with for over 30
years. This year, he's had enough - sold his business to another
local company and they aren't doing pre-purchase contracts. They will
promise that their delivery prices will not exceed $3 per gallon, but
that's as far as they go.

I don't even know what gas will do and we supply hot water.

So what do I tell our long term tenants about their heat situation?
Just in fuel costs alone, we will just barely break even on
rents/costs never mind insurance, taxes (which just went up again in
the town where they are) and regular upkeep and maintenance. There is
a fuel clause in the contracts, but $100/125 a month increase for
fuel? Our water bill is going to increase by 27% in November.

We don't want to create a problem, but some of our tenants have been
with us for a long, long time and a couple of them are on fixed
incomes - what the hell to we tell them? We've been carrying two of
these elder folks for three years now with no increase in rent - we
can't keep doing that.

These are income producing properties, not charity homes. We can
afford to carry a couple, not the whole 18 units.

And if we sell them, we walk away with a ton of money, but what
happens to the tenants?

The bubble is going to burst and I hope to hell it doesn't hurt a lot.

The first bubble to burst will be the recreational boating market. Without
a doubt.