Sure!
How much can you carry in those saddlebags? Ten, maybe 15 pounds per side? How much does water weigh, 8 Lbs/gallon. How much water are you going to need on your 5 hour trip into the desert, where you are completely exposed to the elements? 1.5-2.0 gallons. Emergency spares for the bike? 5 Lbs. Misc. gear such as food, spare batteries (luckily an RTW brochure is almost weightless, so cache trade weight is minimal) and such, 3 Lbs. Extra clothing (assuming you can find the space to cram it in) , 5 Lbs. Now your jaunty motorcycle is rather weighted down, is less maneuverable, and rather prone to breaking in rough terrain.
I would say the best option would be to trailer the bike, or load it into the pickup, and drive to a cache-dense area to find caches from a base-camp sort of setup.
Perhaps that is what you had in mind?

Roping The Wind wrote:
From: AZcachemeister <azcachemeister@getnet.com>
Reply-To: listserv@azgeocaching.com
To: listserv@azgeocaching.com
Subject: Re: [Az-Geocaching] Additional Waypoint Entries
Date: Sun, 06 Aug 2006 19:00:39 -0700

The biggest problem with a motorcycle is the limited amount of supplies you 
can carry.
Then there is the fact that you're pretty much exposed to whatever weather 
is happening.
    

That's what saddlebags are for!!! :) I could also get a handlebar mount for 
the GPS! WEHEW!!! What a geocaching mobile that would be! The weather thing 
could be a problem... but in Arizona, a limited problem.

Scott
Team Ropingthewind


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