At what point in time is enough, enough?

[mitchntx]

Chris Lyons broached the subject last month, but at what point will the high price of fuel curb your racing? When fuel costs more than registration, it becomes a little silly.

I put $100 of fuel in my truck yesterday. The per purchase limit was reached on the card and I didn't even get the tank full.

I feel lucky in that I have great sponsors that pick up a lot of my travel related expenses. But that doesn't extend to fuel. I am figuring $250 in travel related fuel and probably another $150 in fuel for the race car.

I'm trying to get a feel for what the threshold is for this group. When will you have to scale back your participation because of the rising costs?

[gt40]

I'm trying to get a feel for what the threshold is for this group. When will you have to scale back your participation because of the rising costs?I'm right on the edge right now, as it is. The long-haul tracks (TWS, MSR-H and Hallett) will drop off first, obviously, but I've been on a race-by-race basis for a LONG time now. If I can afford to be there, I will, if not, I won't. LOTS of things play into that equation, its just that fuel cost is getting to be a bigger and bigger part of the thing. :(

[AI#97]

Chris Lyons broached the subject last month, but at what point will the high price of fuel curb your racing? When fuel costs more than registration, it becomes a little silly.

I put $100 of fuel in my truck yesterday. The per purchase limit was reached on the card and I didn't even get the tank full.

I feel lucky in that I have great sponsors that pick up a lot of my travel related expenses. But that doesn't extend to fuel. I am figuring $250 in travel related fuel and probably another $150 in fuel for the race car.

I'm trying to get a feel for what the threshold is for this group. When will you have to scale back your participation because of the rising costs?

Primary reason I scaled back to a 1/2 ton and open trailer. Considering I was getting 9mpg in the old setup at a now $4.19/gal, compared to 13mpg at $3.55/gal...

Either way, I have just figured on camping instead of hotels and a little less beer. Only way to cure the problem is to find a way to strengthen the US dollar, that is what is causing the price pain.

[AllZWay]

The fuel cost are a real pain for sure. I cut my daily fuel cost by 2/3's with the purchase of the Cobalt.

At this point, not much is changing for my racing though....other than the bitching about it. :evil:

[jeffburch]

I think it peaked.
Oil speculation (investing) the primary reason.
The dollar being down forces investors to commodities.
Commodity speculators are gonna take it in the ass dry when the bottom falls out.
$60-$80 barrel by year end.

jb

[jeffburch]

Interesting read on the subject
http://www.businessweek.com/lifestyle/content/apr2008/bw2008041_945564.htm

oil down $2 today btw

jb

[mitchntx]

I read that as well and I've also read $200/barrel oil as well. :roll:
Who knows ...

Having lived through the oil hoopla in the early 70s, the bottom falling out and the subsequent fall-out from that, I'm not looking forward to it all over again.

Lots of industry feeds the oil industry and vice-versa. I can remember folks clammering for 16% mortgage rates in the late 70s and early 80s.

What kind of got me going was looking at my credit card statements from the month of April. Debbie and I spent more on fuel than we did our mortgage! Sheesh!

I have no kids at home, no vehicle payments, have a decent income with reasonable job security and sometimes it worries me that I can't save any more than I do. I don't see how I could possibly make ends meet if I was in today's economy and had the responsibilities I had 10 years ago.

My goal was to retire at 55 with a million bucks in my 401K. And I would have been very close to attaining that goal till a couple years ago. :twisted:

Any one know of any finance people, wealth managers that are worth a crap?

Sorry for the rant ...

[Rsmith350]

Price of gas made me change jobs. i got a $5000/year raise (figuratively) by working closer to home. I was almost to the point where i was gonna dump the car cause i couldn't realistically afford to build the car and keep working.


$60-$80 barrel by year end.

jb

That's good to know!

[gt40]

Price of gas made me change jobs. i got a $5000/year raise (figuratively) by working closer to home. I was almost to the point where i was gonna dump the car cause i couldn't realistically afford to build the car and keep working.
!Back when I was working at Lockheed (Hi LT!) I was spending $650 a MONTH on gasoline, just for work (driving from McKinney to White Settlement, every day.) And that was when Gas was around $2.30/gal. I simply could not afford that kind of commute with gas the price it is now.

If gas hits $5/gal, I'm buying a motorcycle. To Hell with what The Wife says.

[cjlmlml]

Any one know of any finance people, wealth managers that are worth a crap?






F

[marshall_mosty]

Any one know of any finance people, wealth managers that are worth a crap?

I think Chris L. does a great job... (not just because I have my money managed by him...)

[Al Fernandez]

Interesting discussion. I think the pansies in Ca are already starting to feel a drop in attendance that they're attributing to high fuel prices and generally lower amounts of disposable income. They are very seriously thinking about a six or even five weekend schedule for next year!

On a side note, my brother is an investment banker in Miami. He tells me I dont have enough money for him to bother :lol: Maybe Chris would be interested in my paltry sums... 8)

[AI#97]

Interesting discussion. I think the pansies in Ca are already starting to feel a drop in attendance that they're attributing to high fuel prices and generally lower amounts of disposable income. They are very seriously thinking about a six or even five weekend schedule for next year!



Even more reason NASA National and Regional need to concentrate on marketing the events for bigger audiences to bring in some sponsorship opportunities that have some real meat to them. Pretty soon, there isn't going to be anyone racing unless there is some cash coming in from the outside either in sponsorships or payouts in lieu of "$.50 plastic medals"...

[marshall_mosty]

Even more reason NASA National and Regional need to concentrate on marketing the events for bigger audiences to bring in some sponsorship opportunities that have some real meat to them. Pretty soon, there isn't going to be anyone racing unless there is some cash coming in from the outside either in sponsorships or payouts in lieu of "$.50 plastic medals"...

...or just subsidize the entry fees from the sponsorships/advertising.

[David Love AI27]

I know someone who is intending to field 6 cars in the 24 hrs of Lemons... we calculated his fuel cost at $4 to 5K...

I lost my sponsorship due to the cost of the enduro... I had an "open" checkbook but registration ($700+), prep and fuel for the entire enduro weekend "closed" the account for the rest of the year TWS may be our last event for "08....

[mitchntx]

I know someone who is intending to field 6 cars in the 24 hrs of Lemons... we calculated his fuel cost at $4 to 5K...

I lost my sponsorship due to the cost of the enduro... I had an "open" checkbook but registration ($700+), prep and fuel for the entire enduro weekend "closed" the account for the rest of the year TWS may be our last event for "08....

I feel your pain, David.

Nationals is no longer on my radar. Just can't justify the fuel expense. I can scrimp everywhere else, but fuel cost is fixed and can't be altered.

If I hadn't already commited to Hallett and begetting the subsidy I'm getting from sponsors, I would most assuredly sit out Hallett.

And final dates for the plant's fall outage were set in stone this week ... Sept. 27 to October 19. This makes Eagle's Canyon highly unlikely. Maybe a blessing in disguise.

How is Amber doing?

[David Love AI27]

[

How is Amber doing?

She is well... waiting on follow up visit... She and Adam are having marriage ceremony June 7th and Jason has high school graduation the following day... Thanks for asking

[jeffburch]

I'm looking at a '88 Subaru 2wd POS tomorrow for $800 as a daily driver.
:idea:
I'm thinking of doing what everybody else is doing.
Well, every illegal that drives around.
I'm thinking of not paying the sales tax/registering it.
Not inspecting.
Make those homemade paper licence plates.

Thoughts?

jb

[donovan]

I'm looking at a '88 Subaru 2wd POS tomorrow for $800 as a daily driver.
:idea:
I'm thinking of doing what everybody else is doing.
Well, every illegal that drives around.
I'm thinking of not paying the sales tax/registering it.
Not inspecting.
Make those homemade paper licence plates.

Thoughts?

jb

Call Corey, he is a pro at that...

8) DD

[AI#97]

I'm looking at a '88 Subaru 2wd POS tomorrow for $800 as a daily driver.
:idea:
I'm thinking of doing what everybody else is doing.
Well, every illegal that drives around.
I'm thinking of not paying the sales tax/registering it.
Not inspecting.
Make those homemade paper licence plates.

Thoughts?

jb

Sounds like a plan...I was cruising craigslist for a lemons car I could drive daily till the race...and maybe drive afterwards! :lol: Micheal found a hell of a deal on an old toyota that I would drive the shit out of for a daily! 35mpg and no car payment for the win!!!