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SUBJECT: # 32961: High fuel prices + Nasdaq crash= decline in boating and fishing for 2001
Submitted by Capt. Tom (24.128.190.214) from MASSACHUSETTS on 12/17/2000 9:35:00 PM
In my post #28097 last spring we discussed the upcoming high fuel prices. Well they are still here. And they not going away in 2001. Let's face it we don't have an energy policy.
What has happened since those posts on the prospects of higher fuel, is that the Nasdaq has lost half of its value in 9 months since last March. A double whammy,which will effect boating and fishing.
It takes time to bleed to death, but the signs will start to show here in the Northeast when slip renewals come due after Christmas.
Not a problem for some boaters but the working man will feel the squeeze.
I posted the following on another board and have gotten a lot of responses.
"Eleven years ago I moved to a coastal town south of Boston. I went to one of the several marinas in the harbor, and talked to the manager. I knew there was a waiting list because of the boating boom,and every marina slip was full in every marina, so I asked to get on a waiting list for a slip in that particular marina.
The marina manager laughed, and pointed to all the full slips and said "I have a list longer than the total amount of boats in the marina." "Don't waste your time." "If your lucky ,you might be able to rent a mooring but those are full too."
Three years later,(1992) that marina had 5 empty slips all season long-and no waiting list. They couldn't fill them. If the people in the slips couldn't afford boating, neither could the people waiting on the list.
I would normally have been #40 on another marina list but I dropped to # 4 when the others ahead decided not to come up with the money,when slips becme available. I ended up with a nice slip.
I am getting the feeling boating is going to slump again within the next few years . The skyhigh price of marina fuel, the high cost of slips, and the slumping economy will take its toll.
After Christmas the marina bills will come due, and some hard economic decisions will have to be made, by a lot of people. Those that love boating and fishing will find a way to be out there. Those with plenty of money are better off, less people in the way with their boats.
I noticed less boating being done this year; more people working weekends, and see no reason for fuel prices to come down. If you got a trailerable boat I would suggest you stay with it. Fuel last season was about 40-50 cents a gal. cheaper ashore.
Capt. Tom again. Anyone feel the same way. Are the economic signs showing in your area? - Tom
ps please spare calling me a "gloom and doomer" or telling me that by talking about an unpleasant subject we can cause it to happen.
- 12/18/2000 3:11:00 AM
Submitted by
jack (24.4.252.192) from SOUTH CAROLINA says boating
i do agree fuel is 50 to 75 more per gal in our area my old boat will burn 300 pl per day , makes a difference ,i think twice before going ,
- 12/18/2000 4:46:00 AM
Submitted by
mcgolfer from OKLAHOMA says drying up
it seems that this summer was very active as far as boaters go. however after august boat traffic took a dive. in previous years september and october had good boat traffic on week days and on weekends. the cost of fuel affects everyone. makes all cost in retail go up in the long term. it has been nice to go to my favorite wrecks and not see 2 or 3 boats trying to fish them. i wonder if the nmfs will figure this into next years fishing season. with this increase in fuel cost they will not be as much pressure on the fish as in the past and they should make the season longer. i doubt that will happen though. they will probably extend the commercial and reduce the recreational quota's. i really miss all the nice snapper that i used to catch in january, february and march. they are probably going to take away the great tuna fishing in the gulf in the near furture. that is just my opinion. it seems that when the fishing gets really good for a particular species nmfs changes the rules. maybe it's just me still pissed about the snapper closures and 2 fish limits on kingfish. rick
- 12/18/2000 8:10:00 AM
Submitted by
Todd (209.211.77.96) from ALABAMA says On the other hand
This may cull out some of the folks who arent serious. The same way NASDAQ is cullling out some of the companies and investers who arent serious Those who are serious will find ways. Ah the unpredictable cyclical nature of fishes and the stock market.I cant be certain if I will catch fish on my next trip or make money on my next opportunity but I will catch fish and make money over the long haul.The money people put into NASDAQ did not evaporate its just that somebody else has it now.
- 12/18/2000 9:59:00 AM
Submitted by
Josko (164.223.72.6) from MASSACHUSETTS says All of a sudden
there are slips and moorings available on upper Cape Cod. They were scarcer than hen's teeth this time last year.
- 12/18/2000 10:06:00 AM
Submitted by
Formerly Known as Ed (209.166.21.12) from NEW YORK says you also left out
the price of boats skyrocketed on the stock market boom. And Mcgolpher's problem with fish regulations is nation wide . Since I can't legally catch any fish and it costs me at least $100 in fuel and supplies to catch 1 striped bass ....why should I even put the boat in the water next season? Maybe with enough people feeling the same way , it will hit them where it hurts (the wallet) and they will wake up realize recreational fishing was a billion dollar industry and just like our "votes" our dollars count too. Maybe instead of the marina laughing at you they will actually give you the respect you deserve now. Where's my coffee? :)
- 12/18/2000 10:59:00 AM
Submitted by
Lee f/k/a Run N' Gun (4.21.194.130) from FLORIDA says Looks like a buying opportunity for some......
Some folks, like me, will be on the look out for the guy that needs to dump a nice boat real fast and real cheap.....this guy will be the one that thought his boat was toy (and, in fact put a silly name on the back), thought every day was going to be perfect, that the fish would jump into the boat and that nothing would ever break on the boat....I can tell you that the boats with the old v-8's that just suck down the gas are already hitting the market fast.
- 12/18/2000 12:30:00 PM
Submitted by
Phil (216.192.104.7) from MASSACHUSETTS says Boats and stocks...
One of the reasons I boat/fish to get away from people. So if your premise is true, shaking out a few boaters (mostly yahoos and wanabes) is not neccessarily a bad thing. When I bought my boat 2 years ago, I knew full well that things could change. That's why I bought a boat that I can trailer--so if for some unforeseen reason I have to take it out of the water, I can just park it in my yard and take it "off the meter." As you said, the diehards will find a way to fish. I was using my kicker for inshore fishing about 75% of the time last year. I can tell you that it felt like cheating "Death & Taxes" because it was costing me negligible money for doing something I enjoy.As for the stock market, I stopped putting money in my mutual funds about 18 months ago when I heard the phrase "this time it's different" (refering to the booming stock market and why it will never go down.) For 18 months, I had to put up with dot-com IPO's and X'er millionaires/billionaires. So even though my portforlio lost some of its value, I feel a lot more comfortable putting money in the market now. As I see it, this is a great opportunity to buy solid companies at a fair price.
- 12/18/2000 2:08:00 PM
Submitted by
steinhatchee pollock (209.208.30.192) from FLORIDA says fla reef permit
would like to purchase one for a fair price rsvp asap
- 12/18/2000 5:38:00 PM
Submitted by
Bri (205.188.193.169) from NEW JERSEY says So What ???
Stop whining !!!Here in Jersey, gas prices were never more than a quater more at the marina than on the street! You can shop around on the water too!! Manasquan Inlet prices are 20 cents cheaper than back bay prices!! So with the increased prices, the average boater with a 150-300 hp motor will spend about 5-10 extra dollars a day!! Do the math. Yes, boat prices have gone up, but how does that effect current boat owners???? If anything, used prices are also going up! If I was you, I would sell now, so there are less idiots out there getting in my way!!! Die hards fish in the sun, rain, wind, and cold! It will take a lot more than a quater at the pump to keep me away!!!!
- 12/18/2000 6:36:00 PM
Submitted by
whoknows (12.22.51.184) from CALIFORNIA says RE: high fuel prices
I moved to Cali from Texas this year and saw gas prices at $2.00/gal and storage at $200/mo(if you could get one) for a 20' CC boat. Sold the boat (boohoo!) and just charter a boat when I get the urge. It's now December, the NASDAQ looks weak and hopefully the costs will come back in line. The cost of a trailerable boat are out-of-sight! I paid $16,500 for mine (in 2/97) and a comparable boat is now $23K! The price of gas is still near $2.00! I hope a correction is near.I feel sorry for the charter fishing captains.
I guess I need to buy a motorcycle.I sure miss my boat.
Brian
- 12/18/2000 9:52:00 PM
Submitted by
R DAVIS from TEXAS says Gas prices
I paid $1.29 gal for regular in Rockport Texas at an Exxon station today. Who says prices don't come back down quickly?
- 12/19/2000 4:40:00 AM
Submitted by
fatcash (152.163.205.9) from VIRGINIA says Adjusted for inflation, fuel prices
are no higher than the average price over the last 20 years. Inflation is 3%.
- 12/19/2000 10:15:00 PM
Submitted by
Capt. Tom (24.128.190.210) from MASSACHUSETTS says Inflation?
From 1999 to 2000 Marina gas has gone up 29% and diesel up 50% in my area (Boston). Maybe it is different in your area. - Tom
- 12/21/2000 12:34:00 AM
Submitted by
john p (64.12.101.173) from NEW JERSEY says gas is way higher on the water here in S Jersey-Brian!
Gas was and is 1.92 for 89 octane and 2.00 even for 92 in Ocean City and at several other nearby places. This is compared to 1.45-1.50 on the street. But Brian I agree its not even close to keeping me in!!!! John
- 1/15/2001 2:14:00 PM
Submitted by
G2 (171.78.132.124) from MASSACHUSETTS says opinion
Well I purchased a trailerable boat just for this reason.... I will have to just about loose the house to get rid of this luxury, fishing. I bought the boat outright with trailer and yes it needs coesmetic work but the Engine is sound and it get's me into the water.... If I could I'd get a better ocean boat that could get me 5 miles off shore without issues or concerns but I still catch fish in shore so why spend so much money to get a different style boat...As for cost, Why do people buy things they can never afford in the first place alway's amazes me. I have a friend who bought a nice Mako CC in the 22 foot range fully equiped and sold it within two years because he couldn't afford the upkeep nor the gas!!! Capt tom is correct gas is in the price ranges that he is talking..