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-   -   Gasoline at $4 Coming to a Pump Near You, Unfazed by Rising Tab (https://chiefsplanet.com/BB/showthread.php?t=161736)

TrebMaxx 11-30-2014 04:50 PM
Quote:
Originally Posted by scho63 (Post 11154394)
Not being a dick, you were just 24-48 hours behind the results of the non-cut at the OPEC meeting that made prices plunge $5-6 a barrel in one day.
Holidays, slow news cycles hell I don't know. :shrug: I will stand corrected! Now where's my newspaper? :D

DaneMcCloud 11-30-2014 04:52 PM
Quote:
Originally Posted by Donger (Post 11154398)
That's already happening. Sub-$70 crude will stop a lot of shale E&P.
Will this affect your business?

kstater 11-30-2014 04:54 PM
Quote:
Originally Posted by Donger (Post 11154407)
Unfortunately, I think the Saudis can still make good profit at $40 to $50, IIRC. Shale can't.
I think the breakeven for the Saudi's is like 33. I don't think many places can come close to that, even a lot of other OPEC countries.

Donger 11-30-2014 05:22 PM
Quote:
Originally Posted by DaneMcCloud (Post 11154419)
Will this affect your business?
No. I don't work in the industry.

DaneMcCloud 11-30-2014 05:40 PM
Quote:
Originally Posted by Donger (Post 11154481)
No. I don't work in the industry.
Oh, that's good then.

Bugeater 11-30-2014 05:41 PM
Quote:
Originally Posted by DaneMcCloud (Post 11154366)
$1.53? Wow, that's insane! I was happy to pay $2.83 the other day.

This is amazing for our economy. Soon, airline travel will return to more reasonable levels, the cost of food will decrease and there will be billions of dollars that will be spent on goods instead of energy, boosting our economy.

Just imagine a time when fusion is in play.
That's with Kroger fuel points, he must have got $1 off/gal. I filled both our vehicles and a 5 gallon gas can for the same price today.

Bugeater 11-30-2014 05:42 PM
Quote:
Originally Posted by Donger (Post 11154407)
Unfortunately, I think the Saudis can still make good profit at $40 to $50, IIRC. Shale can't.
So the only real loser is the shale industry?

eDave 11-30-2014 05:44 PM
Quote:
Originally Posted by Baconeater (Post 11154542)
So the only real loser is the shale industry?
At these prices, why **** with shale? Sit on it.

Hell, increase reserves.

DaneMcCloud 11-30-2014 06:03 PM
Quote:
Originally Posted by Baconeater (Post 11154536)
That's with Kroger fuel points, he must have got $1 off/gal. I filled both our vehicles and a 5 gallon gas can for the same price today.
$2.83 or $1.57?

Kroger points sound awesome!

Donger 11-30-2014 06:16 PM
Quote:
Originally Posted by DaneMcCloud (Post 11154533)
Oh, that's good then.
Nice to see someone believe me on this, for once. Thanks.

Bugeater 11-30-2014 06:17 PM
Quote:
Originally Posted by DaneMcCloud (Post 11154611)
$2.83 or $1.57?

Kroger points sound awesome!
It's not a bad deal, but we have to spend $1,000/mo to get that much of a discount.

Donger 11-30-2014 06:17 PM
Quote:
Originally Posted by Baconeater (Post 11154542)
So the only real loser is the shale industry?
Pretty much.

Donger 11-30-2014 06:20 PM
Quote:
Originally Posted by eDave (Post 11154548)
At these prices, why **** with shale? Sit on it.

Hell, increase reserves.
Well, it's exposed the weakness of our position. Our domestic output has been extraordinary, but it isn't economically-viable when crude is low. That's what I've been mentioning over the last year or so in this thread.

Crude plummeting isn't really a good thing all around.

Donger 11-30-2014 06:22 PM
Quote:
Originally Posted by DaneMcCloud (Post 11154364)
They pretty much have no choice. The US will be the world's largest exporter of oil by 2020, surpassing Venezuela. Russia's got the natural gas. If OPEC is to compete, they'll need to keep their prices low.

They realize the end is near and it's better to sell low than not sell at all.
We don't export crude. It isn't permitted, by law, with a dew execeptions. Some have been suggesting that change, however.

GloryDayz 11-30-2014 06:23 PM
Quote:
Originally Posted by Baconeater (Post 11154666)
It's not a bad deal, but we have to spend $1,000/mo to get that much of a discount.
Ouch, we just buy items that have a certain amount off (1-5 cents), and that 5 cents off is good for 30 days.

It's a win-win because I'm sure Hy-Vee uses it to rid the shelves of sow moving items, but if you're getting it anyway, who cares.


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