OT: Persepective On Current Gas Prices

Voted Worlds #1 Most Loonatic Fanbase

Moderator: Andrew

OT: Persepective On Current Gas Prices

Postby 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
User avatar
Enigma869
Digital Audio Tape
 
Posts: 7753
Joined: Mon Jul 24, 2006 11:38 am
Location: Back In The Civilized Part Of U.S.

Postby 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:
User avatar
separate_wayz
LP
 
Posts: 492
Joined: Mon Jun 18, 2007 9:14 am
Location: USA

Postby 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:
Image
Luvsaugeri
Cassette Tape
 
Posts: 1187
Joined: Fri Jun 15, 2007 12:21 pm
Location: Buckeye Nation

Postby 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.
Last edited by conversationpc on Sat Oct 25, 2008 5:01 am, edited 1 time in total.
My blog = Dave's Dominion
User avatar
conversationpc
Super Audio CD
 
Posts: 17830
Joined: Wed Jun 21, 2006 5:53 am
Location: Slightly south of sanity...

Postby 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!! :roll:


Not really... maybe slow it down to a bottom point, but it doesn't seem to be affecting barrel prices. Think positive, Kelly! :D
Rhiannon
MP3
 
Posts: 10829
Joined: Sat May 26, 2007 9:09 am

Postby 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.
Image
User avatar
strangegrey
Stereo LP
 
Posts: 3622
Joined: Wed Dec 27, 2006 3:31 am
Location: Tortuga

Postby 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!! :roll:



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
User avatar
Enigma869
Digital Audio Tape
 
Posts: 7753
Joined: Mon Jul 24, 2006 11:38 am
Location: Back In The Civilized Part Of U.S.

Postby 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.
User avatar
RossValoryRocks
Stereo LP
 
Posts: 3830
Joined: Wed Feb 12, 2003 4:47 pm

Postby 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.
Don
Super Audio CD
 
Posts: 24896
Joined: Sun Jul 22, 2007 3:01 pm

Postby S2M » Sat Oct 25, 2008 6:47 am

Paid $2.00 in Raynham, MA....this morning....
Tom Brady IS the G.O.A.T.
User avatar
S2M
MP3
 
Posts: 11981
Joined: Mon Jun 02, 2008 4:43 am
Location: In a bevy of whimsy

Postby 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.
User avatar
RossValoryRocks
Stereo LP
 
Posts: 3830
Joined: Wed Feb 12, 2003 4:47 pm

Postby 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.
Tom Brady IS the G.O.A.T.
User avatar
S2M
MP3
 
Posts: 11981
Joined: Mon Jun 02, 2008 4:43 am
Location: In a bevy of whimsy

Postby KenTheDude » Sat Oct 25, 2008 10:59 am

Paid $2.56 for super-unleaded (93 octane) today at a Shell station.
User avatar
KenTheDude
Cassette Tape
 
Posts: 1737
Joined: Wed Sep 19, 2007 9:55 pm
Location: Texas

Postby 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...
Image
User avatar
strangegrey
Stereo LP
 
Posts: 3622
Joined: Wed Dec 27, 2006 3:31 am
Location: Tortuga

Postby 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?
Seven Wishes wrote:"Abysmal? He's the most proactive President since Clinton, and he's bringing much-needed change for the better to a nation that has been tyrannized by the worst President since Hoover."- 7 Wishes on Pres. Obama
User avatar
RedWingFan
Digital Audio Tape
 
Posts: 7868
Joined: Mon Jul 17, 2006 5:37 pm
Location: The Peoples Republic of Michigan

Postby 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
User avatar
Enigma869
Digital Audio Tape
 
Posts: 7753
Joined: Mon Jul 24, 2006 11:38 am
Location: Back In The Civilized Part Of U.S.

Postby 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.
User avatar
KenTheDude
Cassette Tape
 
Posts: 1737
Joined: Wed Sep 19, 2007 9:55 pm
Location: Texas

Postby 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
User avatar
Enigma869
Digital Audio Tape
 
Posts: 7753
Joined: Mon Jul 24, 2006 11:38 am
Location: Back In The Civilized Part Of U.S.

Postby Sarah » Sat Oct 25, 2008 12:26 pm

Still $3.25 in Los Angeles.

You guys don't know how good you have it.
Sarah
Cassette Tape
 
Posts: 1576
Joined: Sun Aug 06, 2006 6:34 am
Location: Los Angeles

Postby 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 :lol:


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:
User avatar
KenTheDude
Cassette Tape
 
Posts: 1737
Joined: Wed Sep 19, 2007 9:55 pm
Location: Texas

Postby 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 :lol:


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:


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.
I like to sit out on the front porch, where the birds can see me, eating a plate of scrambled eggs, just so they know what I'm capable of.
User avatar
Rick
Super Audio CD
 
Posts: 16726
Joined: Sat Dec 23, 2006 9:29 am
Location: Texas

Postby 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
RPM
Cassette Tape
 
Posts: 1542
Joined: Fri Aug 11, 2006 8:37 am

Postby 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 :lol:


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:


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.
User avatar
KenTheDude
Cassette Tape
 
Posts: 1737
Joined: Wed Sep 19, 2007 9:55 pm
Location: Texas

Postby 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.
User avatar
RossValoryRocks
Stereo LP
 
Posts: 3830
Joined: Wed Feb 12, 2003 4:47 pm

Postby 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.
squirt1
Cassette Tape
 
Posts: 1914
Joined: Thu Aug 03, 2006 10:47 am

Postby 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?
Image
User avatar
strangegrey
Stereo LP
 
Posts: 3622
Joined: Wed Dec 27, 2006 3:31 am
Location: Tortuga

Postby 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....

Insanity: doing the same thing over and over again and expecting different results.


~Albert Einstein
User avatar
slucero
Compact Disc
 
Posts: 5444
Joined: Thu Dec 21, 2006 1:17 pm

Postby journel » Sat Oct 25, 2008 4:39 pm

still $3.50/gallon here...sf bay area!
journel
Ol' 78
 
Posts: 100
Joined: Fri May 02, 2008 8:44 am
Location: San Jose, CA

Postby 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
User avatar
Enigma869
Digital Audio Tape
 
Posts: 7753
Joined: Mon Jul 24, 2006 11:38 am
Location: Back In The Civilized Part Of U.S.

Postby conversationpc » Sun Oct 26, 2008 12:22 am

Just filled up yesterday for $2.35/gallon.
My blog = Dave's Dominion
User avatar
conversationpc
Super Audio CD
 
Posts: 17830
Joined: Wed Jun 21, 2006 5:53 am
Location: Slightly south of sanity...

Next

Return to Journey

Who is online

Users browsing this forum: No registered users and 61 guests