OT: Persepective On Current Gas Prices

by **Enigma869** » Sat Oct 25, 2008 4:36 am

I was watching the news last night and the "big story" was that gas prices have sunk to the exact level they were at, one year ago, which is a nationwide average of $2.82 a gallon (I just filled up for a "bargain" $2.59). It's amazing to think with crude oil being down about 70% (and down $41.00 a barrel in just the past 30 days), that we're only now back to levels from one year ago! It seems to me that when crude was this price about 3 years ago, gas was below $2.00 per gallon.

John from Boston

by **separate_wayz** » Sat Oct 25, 2008 4:50 am

It's probably a conspiracy .... we should nationalize all the oil companies and put oil company executives in a boxcar to Auschwitz ("yes we can!!"). :shock:

by **Luvsaugeri** » Sat Oct 25, 2008 4:59 am

I just got gas for $2.16.

I just heard today that OPEC is decreasing production. That should halt the drop in gas prices!! :roll:

by **conversationpc** » Sat Oct 25, 2008 5:01 am

The cheapest I've filled up for was $2.45/gallon. I will personally believe is actually cheap if it ever goes below $2.00 again.

by **Rhiannon** » Sat Oct 25, 2008 5:01 am

Luvsaugeri wrote:I just heard today that OPEC is decreasing production. That should halt the drop in gas prices!!

Not really... maybe slow it down to a bottom point, but it doesn't seem to be affecting barrel prices. Think positive, Kelly!

by **strangegrey** » Sat Oct 25, 2008 5:13 am

I've been saying for months now that the price of oil was being unnaturally pumped up by massive speculation. Whether or not it was oil companies, government forces or the sand humping motherfuckers that actually take the shit out of the ground over in the middle east...is anyone's guess.

However, the point still remains that it seems that I was right...as a great number of respectable business talking heads are now starting to claim that nearly all of the significant gains over the past year or two were due to said speculation...and that oil hasn't yet hit 'peak'....there might have been some motivation by the environmentalist pacs as well to drive up the price of oil.

Regardless, I'm deriving a significant amount of pleasure out of watching the various cvntbags from OPEC walk into talks in Vienna this morning....and walk out with pusses on their faces at the fact that their efforts to cut production by 1.5 million barrels resulted in oil droping another 4 dollars/barrel.

Some folks are pointing to 40-50 dollar barrels of oil by year end. I would love it.....the less power, money and influence OPEC nations have...the better.

by **Enigma869** » Sat Oct 25, 2008 5:23 am

Luvsaugeri wrote:I just got gas for $2.16.

I just heard today that OPEC is decreasing production. That should halt the drop in gas prices!!

Holy shit! $2.16 a gallon??? WHOA! I guess where you live, the retail price is a bit more reflective of the wholesale price! Here is an article that shows that despite the decision by OPEC, the prices of crude are still plummeting, which seems very odd!

http://money.aol.com/news/articles/_a/b ... 1200715334

John from Boston

by **RossValoryRocks** » Sat Oct 25, 2008 5:32 am

Today wholesale gas for November delivery is down to $1.48, add $.50 for local, state and federal taxes and gas should hit $1.98 some time within the month.

I agree gas prices rise quickly, and fall slowly, but it isn't a conspiracy it is the natural market cycle for gasoline and other oil derived products.

by **Don** » Sat Oct 25, 2008 6:47 am

Iran and Venezuela want it at a hundred dollars a barrel, but Saudi Arabia told them to go pound sand, and let the market dictate the price.

by **S2M** » Sat Oct 25, 2008 6:47 am

Paid $2.00 in Raynham, MA....this morning....

by **RossValoryRocks** » Sat Oct 25, 2008 7:12 am

Gunbot wrote:Iran and Venezuela want it at a hundred dollars a barrel, but Saudi Arabia told them to go pound sand, and let the market dictate the price.

Because the Saudi government isn't as dependent on oil price to meet it's obligations. Venezuela and Iran are teetering, government-wise, and need the money to be able to meet the expectations they have generate among their people.

The Saudi's also want Iran held in check and $50-$70 oil helps with this.

by **S2M** » Sat Oct 25, 2008 7:16 am

RossValoryRocks wrote:
Gunbot wrote:Iran and Venezuela want it at a hundred dollars a barrel, but Saudi Arabia told them to go pound sand, and let the market dictate the price.

Because the Saudi government isn't as dependent on oil price to meet it's obligations. Venezuela and Iran are teetering, government-wise, and need the money to be able to meet the expectations they have generate among their people.

The Saudi's also want Iran held in check and $50-$70 oil helps with this.

I STILL don't understand where you get this line of thought, Stu....

The United states tells the oil producing country (in this case Saudi) what WE'LL be paying for a barrel of oil. Plain and simple. Kissinger sold our souls a LONG time ago.

by **KenTheDude** » Sat Oct 25, 2008 10:59 am

Paid $2.56 for super-unleaded (93 octane) today at a Shell station.

by **strangegrey** » Sat Oct 25, 2008 11:47 am

StocktontoMalone wrote:
RossValoryRocks wrote:
Gunbot wrote:Iran and Venezuela want it at a hundred dollars a barrel, but Saudi Arabia told them to go pound sand, and let the market dictate the price.

Because the Saudi government isn't as dependent on oil price to meet it's obligations. Venezuela and Iran are teetering, government-wise, and need the money to be able to meet the expectations they have generate among their people.

The Saudi's also want Iran held in check and $50-$70 oil helps with this.

I STILL don't understand where you get this line of thought, Stu....

With iraq out of the picture (a tactical mistake on the part of Hayseed, I might add)...there's no one in the region to really keep Iran in check. If oil prices get real low, Iran can't saber rattle the way it has been over the past few years....especially when they're trying to buy missile systems from the reds.....not too difficult to understand at all...

by **RedWingFan** » Sat Oct 25, 2008 11:50 am

strangegrey wrote:If oil prices get real low, Iran can't saber rattle the way it has been over the past few years..

Doesn't Obama's would be debate partner "sabre rattle" to keep prices up?

by **Enigma869** » Sat Oct 25, 2008 11:52 am

KenTheDude wrote:Paid $2.56 for super-unleaded (93 octane) today at a Shell station.

The real question is why are you buying Super? I drove a Lexus for three years and NEVER put supreme in it once, and never had an issue with it (the manufacturer said that you must put supreme gas in it)!

John from Boston

by **KenTheDude** » Sat Oct 25, 2008 12:10 pm

Enigma869 wrote:
KenTheDude wrote:Paid $2.56 for super-unleaded (93 octane) today at a Shell station.

The real question is why are you buying Super? I drove a Lexus for three years and NEVER put supreme in it once, and never had an issue with it (the manufacturer said that you must put supreme gas in it)!

John from Boston

Lotus requires it and can void your warranty if they find out. How they would find out, I don't know. But I'm not willing to risk it with this car. I actually use super for all of my cars. When Hurricane Ike came through here and gas was hard to come by, the only thing available was the cheap stuff. I didn't drive the Lotus then until they got super again. I certainly noticed the difference in my truck using the cheap stuff. It knocked and pinged and didn't quite have the same acceleration.

by **Enigma869** » Sat Oct 25, 2008 12:20 pm

KenTheDude wrote:Lotus requires it and can void your warranty if they find out. How they would find out, I don't know. But I'm not willing to risk it with this car. I actually use super for all of my cars. When Hurricane Ike came through here and gas was hard to come by, the only thing available was the cheap stuff. I didn't drive the Lotus then until they got super again. I certainly noticed the difference in my truck using the cheap stuff. It knocked and pinged and didn't quite have the same acceleration.

Understood Ken. I didn't realize that you were driving a Lotus. Nor did I realize that your warranty would be void, if you used any other grade of gas. When I bought my Lexus in 2004, I actually asked the dealership that very question. They simply told me that supreme is recommended, but my warranty wasn't contingent upon using it. Because of that, I simply never used it, and never had a single issue. If they had told me my warranty could have been jeopardized, I definitely would have sucked it up, and bought the liquid gold :lol:

John from Boston

by **Sarah** » Sat Oct 25, 2008 12:26 pm

Still $3.25 in Los Angeles.

You guys don't know how good you have it.

by **KenTheDude** » Sat Oct 25, 2008 12:27 pm

Enigma869 wrote:
KenTheDude wrote:Lotus requires it and can void your warranty if they find out. How they would find out, I don't know. But I'm not willing to risk it with this car. I actually use super for all of my cars. When Hurricane Ike came through here and gas was hard to come by, the only thing available was the cheap stuff. I didn't drive the Lotus then until they got super again. I certainly noticed the difference in my truck using the cheap stuff. It knocked and pinged and didn't quite have the same acceleration.

Understood Ken. I didn't realize that you were driving a Lotus. Nor did I realize that your warranty would be void, if you used any other grade of gas. When I bought my Lexus in 2004, I actually asked the dealership that very question. They simply told me that supreme is recommended, but my warranty wasn't contingent upon using it. Because of that, I simply never used it, and never had a single issue. If they had told me my warranty could have been jeopardized, I definitely would have sucked it up, and bought the liquid gold

John from Boston

I was feeling sorry for the poor bastards that were paying $4.99 a gallon for diesel this summer. Now that's liquid gold! :shock:

by **Rick** » Sat Oct 25, 2008 12:30 pm

KenTheDude wrote:
Enigma869 wrote:
KenTheDude wrote:Lotus requires it and can void your warranty if they find out. How they would find out, I don't know. But I'm not willing to risk it with this car. I actually use super for all of my cars. When Hurricane Ike came through here and gas was hard to come by, the only thing available was the cheap stuff. I didn't drive the Lotus then until they got super again. I certainly noticed the difference in my truck using the cheap stuff. It knocked and pinged and didn't quite have the same acceleration.

Understood Ken. I didn't realize that you were driving a Lotus. Nor did I realize that your warranty would be void, if you used any other grade of gas. When I bought my Lexus in 2004, I actually asked the dealership that very question. They simply told me that supreme is recommended, but my warranty wasn't contingent upon using it. Because of that, I simply never used it, and never had a single issue. If they had told me my warranty could have been jeopardized, I definitely would have sucked it up, and bought the liquid gold

John from Boston

I was feeling sorry for the poor bastards that were paying $4.99 a gallon for diesel this summer. Now that's liquid gold!

What the fuck is the deal with that? Diesel used to be cheaper, and isn't it just a byproduct of making gasoline? I don't get why it's still $3.50 or ever overtook gas, pricewise.

by **RPM** » Sat Oct 25, 2008 12:37 pm

Enigma869 wrote:
KenTheDude wrote:Paid $2.56 for super-unleaded (93 octane) today at a Shell station.

The real question is why are you buying Super? I drove a Lexus for three years and NEVER put supreme in it once, and never had an issue with it (the manufacturer said that you must put supreme gas in it)!

John from Boston

Why the fuck would you do that? ......cheap ass....lol

by **KenTheDude** » Sat Oct 25, 2008 12:37 pm

Rick wrote:
KenTheDude wrote:
Enigma869 wrote:
KenTheDude wrote:Lotus requires it and can void your warranty if they find out. How they would find out, I don't know. But I'm not willing to risk it with this car. I actually use super for all of my cars. When Hurricane Ike came through here and gas was hard to come by, the only thing available was the cheap stuff. I didn't drive the Lotus then until they got super again. I certainly noticed the difference in my truck using the cheap stuff. It knocked and pinged and didn't quite have the same acceleration.

Understood Ken. I didn't realize that you were driving a Lotus. Nor did I realize that your warranty would be void, if you used any other grade of gas. When I bought my Lexus in 2004, I actually asked the dealership that very question. They simply told me that supreme is recommended, but my warranty wasn't contingent upon using it. Because of that, I simply never used it, and never had a single issue. If they had told me my warranty could have been jeopardized, I definitely would have sucked it up, and bought the liquid gold

John from Boston

I was feeling sorry for the poor bastards that were paying $4.99 a gallon for diesel this summer. Now that's liquid gold!

What the fuck is the deal with that? Diesel used to be cheaper, and isn't it just a byproduct of making gasoline? I don't get why it's still $3.50 or ever overtook gas, pricewise.

Because when it was cheaper, everybody down here in Texas bought a big 'ole diesel truck. Now that everybody has one, the oil companies figured they'd grab you by the 'nads and make some money off of you.

by **RossValoryRocks** » Sat Oct 25, 2008 12:42 pm

StocktontoMalone wrote:
RossValoryRocks wrote:
Gunbot wrote:Iran and Venezuela want it at a hundred dollars a barrel, but Saudi Arabia told them to go pound sand, and let the market dictate the price.

Because the Saudi government isn't as dependent on oil price to meet it's obligations. Venezuela and Iran are teetering, government-wise, and need the money to be able to meet the expectations they have generate among their people.

The Saudi's also want Iran held in check and $50-$70 oil helps with this.

I STILL don't understand where you get this line of thought, Stu....

The United states tells the oil producing country (in this case Saudi) what WE'LL be paying for a barrel of oil. Plain and simple. Kissinger sold our souls a LONG time ago.

Well I grew up in the oil industry. My dad was an excutive with Gulf Oil for 30 years, so I know a bit about it more than anyone on this forum for sure. We don't TELL them any thing, and haven't since 1972 when they kicked all the western companies out and nationalized the companies.

So it's not a line of thought. It's the plain simple truth. You may choose not to acknowledge that truth, but it is the truth.

We don't have the power to set oil prices by fiat.

Oh the other reason Venezuela wants $100/barrel oil is that their crude is the thick and very sulphurous variety that has a cost penalty. So while the average for a barrel of crude right now is $61, Venezuela's crude is actually selling for about $55/barrel because it requires extra processing.

by **squirt1** » Sat Oct 25, 2008 12:52 pm

I just paid 2.35 for reg yesterday at Speedway. Also I read on the drudgereport.com that OPEC is cutting production by 1.5 million barrels per day. Why aren't we drilling ??????????????? We have the dumbest Congress ever assembled in my lifetime.

by **strangegrey** » Sat Oct 25, 2008 12:59 pm

RedWingFan wrote:
strangegrey wrote:If oil prices get real low, Iran can't saber rattle the way it has been over the past few years..

Doesn't Obama's would be debate partner "sabre rattle" to keep prices up?

rwf, care to translate?

by **slucero** » Sat Oct 25, 2008 2:38 pm

The price of oil is falling because demand is dropping like a fucking rock. It will continue to fall as we enter the 2nd Great Depression... cutting production will not increase the price per barrel long term.... only increased demand will...

OPEC is just as fucked as the rest of the world....

by **journel** » Sat Oct 25, 2008 4:39 pm

still $3.50/gallon here...sf bay area!

by **Enigma869** » Sat Oct 25, 2008 9:55 pm

journel wrote:still $3.50/gallon here...sf bay area!

Right, and the median home price in The Bay Area is still something completely ridiculous, like $700K for a shack! The Bay Area is NEVER a good barometer for what is going on in the rest of the country. Beautiful part of the country, but flippin EXPENSIVE!

John from Boston

by **conversationpc** » Sun Oct 26, 2008 12:22 am

Just filled up yesterday for $2.35/gallon.

MR

OT: Persepective On Current Gas Prices

OT: Persepective On Current Gas Prices

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