ChiefsPlanet - Gasoline at $4 Coming to a Pump Near You, Unfazed by Rising Tab

There really are three factors at play in this decline:

1) End of speculation driving up crude to artificial highs.

2) Decreased demand, here and abroad.

3) The recession.

Hard to say which came first or which caused which. The bottom line is: keep demand low if you want lower gas prices. I do think crude is under-valued now, which will prohibit new E&P. That's not good.

I've had a couple of farmers tell me they are shutting down their stripper wells until the price goes back up.

InChiefsHeaven

12-22-2008 03:48 PM

Quote:

Originally Posted by Skip Towne (Post 5321022)

I've had a couple of farmers tell me they are shutting down their stripper wells until the price goes back up.

What! No more strippers!! DAMMIT PEOPLE!!!!

...I'm guessing that's a different kind of stripper...:redface:

jjchieffan

12-22-2008 04:31 PM

Quote:

Originally Posted by Donger (Post 5320956)

The bottom line is: keep demand low if you want lower gas prices. I do think crude is under-valued now, which will prohibit new E&P. That's not good.

The good thing though, is that while prices were high, alot was invested in finding alternative fuels, and people changed their driving habits. Everyone has seen what can happen, so I believe that this will continue. Hopefully, the development of alternative fuels will offset any E&P not being done due to lower oil prices.

Donger

12-29-2008 11:48 AM

Crude trading up today. Up $6.02 (18.61%) @ $38.37 right now.

Donger

12-29-2008 03:59 PM

Ick. Crude closed up $7.67 (23.71%) at $40.02

Frazod

12-29-2008 04:02 PM

Quote:

Originally Posted by Donger (Post 5337396)

Ick. Crude closed up $7.67 (23.71%) at $40.02

Special thanks to all our pals in the Middle East blasting the shit out of each other. :clap:

BigMeatballDave

12-29-2008 04:07 PM

Quote:

Originally Posted by Donger (Post 5337396)

Ick. Crude closed up $7.67 (23.71%) at $40.02

According to CNBC it increased 2.52

BigCatDaddy

12-29-2008 04:08 PM

Quote:

Originally Posted by frazod (Post 5337406)

Special thanks to all our pals in the Middle East blasting the shit out of each other. :clap:

It seems to be just another excuse to bump up the price. Once another report comes out about the stock pile of reserves or how crappy the economy is the price will fall back down.

Donger

12-29-2008 04:52 PM

Quote:

Originally Posted by BigChiefDave (Post 5337420)

According to CNBC it increased 2.52

Hmmm. Maybe I did my math wrong.

Coach

12-29-2008 04:54 PM

Well, good thing I filled up last night.

chasedude

12-29-2008 06:30 PM

Quote:

Originally Posted by BigChiefDave (Post 5337420)

According to CNBC it increased 2.52

2.31 actually, per my source

http://futures.tradingcharts.com/mar...php3?market=CL

Donger

12-31-2008 02:44 PM

Crude up $5.57 (14.27%) at $44.60

chief52

01-03-2009 11:22 AM

$2.03 a gallon in No. Cal. this today.

Skip Towne

01-03-2009 11:40 AM

Quote:

Originally Posted by InChiefsHell (Post 5321040)

What! No more strippers!! DAMMIT PEOPLE!!!!

...I'm guessing that's a different kind of stripper...:redface:

Yep stripper wells are wells producing less than 10 bbl per day. There are thousands of them in OK. They usually shut them down when the price is low.

Bowser

01-03-2009 12:00 PM

It's gone up around .30/gal in the past 2-3 weeks here in KC.

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