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Old 04-23-2007, 08:40 AM  
Donger Donger is offline
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Gasoline at $4 Coming to a Pump Near You, Unfazed by Rising Tab

http://www.bloomberg.com/apps/news?p...d=afOlUzd30YOo

Pretty alarmist, IMO, but possible.

Spoiler!

Last edited by Donger; 10-10-2014 at 01:43 PM..
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Old 12-08-2014, 04:37 PM   #4576
Buehler445 Buehler445 is offline
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Quote:
Originally Posted by Donger View Post
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.
Well, if prices go back to $140 a barrel, you can feel free to fuel my tractor for me.

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Old 12-08-2014, 04:39 PM   #4577
Buehler445 Buehler445 is offline
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Originally Posted by morphius View Post
Talked to a oil guy last week, and a bunch of the fracking they have down to $20 a barrel.
I don't think they can in my part of the world. Which is unfortunate. Oil production (the little that they've found...) has been a boost to the economy.
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Old 12-08-2014, 05:01 PM   #4578
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I read the other day that the cost of US based oil is much lower than previously thought, and that most could make a profit it it were at $40/barrel.
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Originally Posted by morphius View Post
Talked to a oil guy last week, and a bunch of the fracking they have down to $20 a barrel.
From the research reports I've been reading the floor in costs for fracking is $40-50 a barrel but trending down.
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Old 12-08-2014, 05:10 PM   #4579
DaneMcCloud DaneMcCloud is offline
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$2.67 at Costco on Saturday. If it's this low in Cali, isn't it approaching $2 a gallon in the Midwest?

I'm looking forward to a road trip next summer!
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Old 12-08-2014, 05:22 PM   #4580
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Old 12-08-2014, 05:23 PM   #4581
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Quote:
Originally Posted by DaneMcCloud View Post
$2.67 at Costco on Saturday. If it's this low in Cali, isn't it approaching $2 a gallon in the Midwest?

I'm looking forward to a road trip next summer!
It's 2.36 when I filled up last night.
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Old 12-08-2014, 05:27 PM   #4582
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Quote:
Originally Posted by Donger View Post
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.
Well, I would have to respectfully disagree with you on there. When gas prices was in the $3 or higher, it would usually require me to fill between $50-$60 to fill up my tank.

Yesterday, I only had to pay $35. That extra $15-$20 is beneficial for me. Why? Because then I could use that extra $15-20 for whatever else I want to spend it on, which is good for businesses such as restaurants or stores that I normally go to.

Next time gas prices goes up back to $3 or more, you're more than welcome to send me a check, if you wish to.
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Old 12-08-2014, 05:29 PM   #4583
BigMeatballDave BigMeatballDave is offline
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Quote:
Originally Posted by Coach View Post
Well, I would have to respectfully disagree with you on there. When gas prices was in the $3 or higher, it would usually require me to fill between $50-$60 to fill up my tank.

Yesterday, I only had to pay $35. That extra $15-$20 is beneficial for me. Why? Because then I could use that extra $15-20 for whatever else I want to spend it on, which is good for businesses such as restaurants or stores that I normally go to.

Next time gas prices goes up back to $3 or more, you're more than welcome to send me a check, if you wish to.
Do you remember the last time oil fell like this?
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Old 12-08-2014, 05:30 PM   #4584
DaneMcCloud DaneMcCloud is offline
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Originally Posted by BigMeatballDave View Post
Do you remember the last time oil fell like this?
I don't. What happened?
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Old 12-08-2014, 05:33 PM   #4585
BigMeatballDave BigMeatballDave is offline
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I don't. What happened?
2008/2009 Economy went to shit. Massive layoffs.
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Old 12-08-2014, 05:36 PM   #4586
DaneMcCloud DaneMcCloud is offline
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Originally Posted by BigMeatballDave View Post
2008/2009 Economy went to shit. Massive layoffs.
But that was a very different economy and for very different reasons.

I thought you were referring to something different. Low gasoline prices will put an estimated $600-$700 billion back into the economy, which can only be seen as a good thing.

By 2025, an estimated 50% of the cars on the road will be electric, further reducing the need for gasoline.
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Old 12-08-2014, 07:17 PM   #4587
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Quote:
Originally Posted by BigMeatballDave View Post
2008/2009 Economy went to shit. Massive layoffs.
Different economy.

Quote:
It’s also worth noting that many economists see this year’s crude crash as positive overall for the world economy, with the resulting lower gasoline prices, for example, putting more money in the average American’s pocket. Read more: Falling oil prices ‘like a tax cut’ for economy

There are worries that oil’s plunge indicates a global slowdown, but the International Monetary Fund has pinned 80% of the fall on supply-side causes, such as OPEC’s moves. Only 20% of the drop is due to declining demand from slowing growth, according to the IMF.
http://www.marketwatch.com/story/oil...008-2014-12-08
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Old 12-08-2014, 07:20 PM   #4588
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I saw some conspiracy theory about how the US and Saudi Arabia are colluding to lower oil prices to **** Russia over even harder while they are weak from all the international pressure over the Ukraine thing.

Anyone who knows about that kind of shit care to comment on any validity to that theory?
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Old 12-08-2014, 07:39 PM   #4589
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Old 12-08-2014, 07:55 PM   #4590
Donger Donger is offline
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Quote:
Originally Posted by Coach View Post
Well, I would have to respectfully disagree with you on there. When gas prices was in the $3 or higher, it would usually require me to fill between $50-$60 to fill up my tank.

Yesterday, I only had to pay $35. That extra $15-$20 is beneficial for me. Why? Because then I could use that extra $15-20 for whatever else I want to spend it on, which is good for businesses such as restaurants or stores that I normally go to.

Next time gas prices goes up back to $3 or more, you're more than welcome to send me a check, if you wish to.
You can disagree, but the fundamentals of why this is happening aren't sustainable at $60.00 crude. I understand that it's good for the consumer now, but a few years from now, it may not be a good thing for America.
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