Gas Prices

[Tex9401]

I don't about your area, but Lubbock has at $2.32 right now.

[doug_dfw]

Enjoy. OPEC is trying to lower crude oil to a point where it makes the world price so low American, Canadian, and other nations stop exploring and developing higher cost domestic resources. A game played for decades until the Arab monarchies civil and personal budgets exceeded the take.

This will be short lived. OPEC cannot deliver enough to sustain; nor desire to sell to America. Russia needs prices to support their military build up to take America down. China has no resources less expensive than ours and tries to take over third worlds resources.

However we have two more years with Obama. That might upset the whole egg cart.

[wellendowed1911]

Oil prices are set globally no President has any control over the lowering or increasing of oil prices. If oil prices rises- other nations will invest in cheaper alternatives such as Electric Cars or in the case of Brazil Sugar Cane(Ethanol).
If OPEC were smart they would globally keep oil prices down this will keep a country like U.S weaned on foreign fuel and slow the progress of alternate fuel sources.
Let's say for example Oil prices for the next 5 years average $2.00 a gallon- you would see less electric cars on the market- but if Gas let's say average $3.50 to $4.00 a gallon the next 5 years- you would see an expansion of Electric cars and purchases of cars with high MPG- OPEC would rather have everyone purchase their oil so keeping it low helps them in the long run.

[Trill Jackson]

Yes, Saudi Arabia and OPEC are causing cheap gas prices which is good for American citizens and bad for corrupt oil companies.

It makes sense to, it costs about $64 a barrel to produce oil here from Tar sands like they are. Arabia and OPEC has good old-fashioned Texas tea oil which only costs about $35 a barrel to produce. With prices at $70-80 a barrel, OPEC can afford for the price to go down.

Originally Posted by doug_dfw

Enjoy. OPEC is trying to lower crude oil to a pyesoint where it makes the world price so low American, Canadian, and other nations stop exploring and developing higher cost domestic resources. A game played for decades until the Arab monarchies civil and personal budgets exceeded the take.

This will be short lived. OPEC cannot deliver enough to sustain; nor desire to sell to America. Russia needs prices to support their military build up to take America down. China has no resources less expensive than ours and tries to take over third worlds resources.

However we have two more years with Obama. That might upset the whole egg cart.

[stud5287]

it was $2.29 here yesterday and $2.19 today and i love the prices going down leaves me more money to play with

[TinMan]

I wonder if the hookers in Houston are going to start indexing their rates to the spot price of WTI.

HDHs for $150 anyone?

[hdg67]

Less money in my tank means more money in my pocket.

[threepeckeredbillygoat]

Originally Posted by Trill Jackson

Yes, Saudi Arabia and OPEC are causing cheap gas prices which is good for American citizens and bad for corrupt oil companies.

Corrupt oil companies? All of them? There aren't any good ones?

Damn, you drank the kool-aid didn't ya? Hook line and sinker. My Papa always told me there was a sucker born every minute.

The government makes more money off of a gallon of gas than the "corupt oil companies" do.

[Whirlaway]

++1. And with prices low, Democrats are itching to raise the excise tax.

http://www.rightwisconsin.com/dailyt...280053512.html

Originally Posted by threepeckeredbillygoat

Corrupt oil companies? All of them? There aren't any good ones?

Damn, you drank the kool-aid didn't ya? Hook line and sinker. My Papa always told me there was a sucker born every minute.

The government makes more money off of a gallon of gas than the "corupt oil companies" do.

[Papa Noel]

The best thing about low crude prices is...............

Just like in the mid-80s when Reagan and the Saudis drove the price down and bankrupted the Soviet Union......Russia is just about in recession..............Putin has nothing else to sell to get hard currency.......

[blue3122]

Originally Posted by Trill Jackson

Yes, Saudi Arabia and OPEC are causing cheap gas prices which is good for American citizens and bad for corrupt oil companies.

It makes sense to, it costs about $64 a barrel to produce oil here from Tar sands like they are. Arabia and OPEC has good old-fashioned Texas tea oil which only costs about $35 a barrel to produce. With prices at $70-80 a barrel, OPEC can afford for the price to go down.

"Corrupt oil companies"?? Do you know what an oil company is? It is a set of documents. What did a piece of paper ever do to you?
Do you own any stocks? Any indexes? Ever buy gas? Oil? Any petroleum products?

Don't curse the good people who bring you these products while you enjoy your use of them, just say "Thank you" and proceed on your way.

[blue3122]

Also, Oil is a global market. Even if production could instantly be raised, which it can't, the refining capacity is near 100%.
The recent price drops are primarily because India and China and Europe to some extent are having slowing growth therefore demand globally is dropping.
The Fed has been trying to prop up the economy in the face of disastrous fiscal policies but that has come to an end. Expect a recession in the next four to five quarters albeit a relatively mild one.

[txexetoo]

Originally Posted by Trill Jackson

Yes, Saudi Arabia and OPEC are causing cheap gas prices which is good for American citizens and bad for corrupt oil companies.

It makes sense to, it costs about $64 a barrel to produce oil here from Tar sands like they are. Arabia and OPEC has good old-fashioned Texas tea oil which only costs about $35 a barrel to produce. With prices at $70-80 a barrel, OPEC can afford for the price to go down.

Two words. Dumb motherfucker

[TexTushHog]

Originally Posted by hdg67

Less money in my tank means more money in my pocket.

Lower price per bbl means less money in my pocket. But thank God natural gas hasn't cratered lke oil. The old royalty checks can't take a double whammy. Give me $150/bbl. and $14/mcf any day!!

[Adonis]

Here's an interesting article on the subject.

Slate