Gas Prices

I keep hearing that the lower gas prices hurts the economy. Discuss....

They will stop drilling and pumping if the prices continue to fall. A lot of the shale and tar sands stuff it too expensive to pump and develop at the lower prices.... Hence the boom going like is goin on the Dakotas will come to a screeching halt if the prices continue to fall = fail in our economy

Oil and gas has been the only thing keeping the economy in the USA showing any signs of growing the last few years.

dfree383 wrote:They will stop drilling and pumping if the prices continue to fall. A lot of the shale and tar sands stuff it too expensive to pump and develop at the lower prices.... Hence the boom going like is goin on the Dakotas will come to a screeching halt if the prices continue to fall = fail in our economy

Oil and gas has been the only thing keeping the economy in the USA showing any signs of growing the last few years.

I call BS on that, they are just sticking it up our A$$. I know cuz I send thousands upon thousands of barrels of condensate every month to the refinery and still high as a freakin kite... it's higher here than any of your places and we make the freakin stuff...

Its still too damn high

richter69 wrote:Its still too damn high

I remember when I was just starting to drive I use to pay .15 cents a gallon for Premium. I use to wait till the stations would go on price wars and get it for as low as .07 cents a gallon...

85bigblockfox wrote:I keep hearing that the lower gas prices hurts the economy. Discuss....

It greatly hurts the RUSSIAN economy...

the Coug wrote:

richter69 wrote:Its still too damn high

I remember when I was just starting to drive I use to pay .15 cents a gallon for Premium. I use to wait till the stations would go on price wars and get it for as low as .07 cents a gallon...

This ain't 1955 anymore..... New Crown Vic aren't $2000 anymore either

rmcomprandy wrote:

85bigblockfox wrote:I keep hearing that the lower gas prices hurts the economy. Discuss....

It greatly hurts the RUSSIAN economy...

That's the desired effect.... But we are getting to the point of hurting our own economy too.

dfree383 wrote:

rmcomprandy wrote:

85bigblockfox wrote:I keep hearing that the lower gas prices hurts the economy. Discuss....

It greatly hurts the RUSSIAN economy...

That's the desired effect.... But we are getting to the point of hurting our own economy too.

some part of our economy may hurt from it but others will benefit.

They also saying that OPEC doesn't like that the USA passed the middle east in oil production and they won't halt their production in order to take back the oil empire from the USA.

So would we call this a "coal war", "shale war" or "crude war"?

I believe USA needs to keep it's self in the drivers seat.

It will hurt the economy of all Countries to a degree, although a different degree for all, the question becomes the reaction of the companies that produce the oil and whether or not they want to continue to produce or sit on their reserves until the prices return, the larger oil companies increased production when the prices were higher and stock piled the reserves, and bought more place to store their reserves, as the high prices naturally increased their margins, the other ones will lay off people until the prices return, the speculation problem arises when the ones who have large stock piles (different countries different levels of desperation)need cash and further reduce the price out of desperation which leaves the ones with the huge stock pile unwilling to participate in a price war therefore having to reduce expenses (laying off staff) and letting the price cutter become the main supplier until their oil reserves run low and they are out of the picture hence the next major suppliers get to set the new price structure, under $70. / barrel is good for the pump but not the word economy. JMO

The above ground reserves (tanked) in the USA would last about 2weeks of consumption tops.

Sure as hell's not effecting Diesel prices around here. tell me why Diesel can be cheaper than gas one week and $1.50 higher the next quarter. F... rich people.

Diesel not cheaper here ether, gone down a little but not much/enough

dfree383 wrote:The above ground reserves (tanked) in the USA would last about 2weeks of consumption tops.

bbf-falcon wrote:Sure as hell's not effecting Diesel prices around here. tell me why Diesel can be cheaper than gas one week and $1.50 higher the next quarter. F... rich people.

X2 you can get gas here around $2.50 to $2.60 last week when I fill my truck up Diesel was $3.45 the cheapest I have seen it here lately was $3.12 a few weeks back.

Gas is $2.19 here and diesel is still $3.45 to $3.65

2.02 and 3.02 here in town as of yesterday

$2.19 for unleaded 87, $2.98 for diesel here this morning. Still too high LOL.

61coon wrote:$2.19 for unleaded 87, $2.98 for diesel here this morning. Still too high LOL.

Red it is a 1.99 in Lebanon Tn .

whitefield wrote:

61coon wrote:$2.19 for unleaded 87, $2.98 for diesel here this morning. Still too high LOL.

Red it is a 1.99 in Lebanon Tn  .

Wow! I was listening to the radio this morning and they mentioned raising the tax on gas because of the lower gas prices and people buying more fuel efficient vehicles. They were claiming that the are not making the money they need for road projects... Sounds like a croc to me..

You should hear the shit they are talking about out here.... How about a mileage / useage tax on your personal vehicle...... They are claiming people with electric cars aren't paying their fair share now.

61coon wrote:

whitefield wrote:

61coon wrote:$2.19 for unleaded 87, $2.98 for diesel here this morning. Still too high LOL.

Red it is a 1.99 in Lebanon Tn  .

Wow! I was listening to the radio this morning and they mentioned raising the tax on gas because of the lower gas prices and people buying more fuel efficient vehicles. They were claiming that the are not making the money they need for road projects... Sounds like a croc to me..

Gas tax is a % to cost tax. So its a hidden variable. As the cost of gas skyrocketed, the federal government got a HUGE influx of tax dollars without us poor dumb consumers even knowing (or acting). They built all the interstates, the state and county roadways when that same tax was applied to gasoline (and diesel) when it was between $.45 and $.65 a gallon. sooo lets figure $.018 cents per gallon. That's about $1,170,000,000 in national revenue. That doesn't even count the additions of state taxes which usually are a straight number of pennies per gallon. Now figure that same percentage against $4.00 a gallon gasoline 7.8 billion dollars or a 6.7 billion dollar tax increase.... without asking the nation for approval.

Now most of that tax revenue is NOT going into highway construction or maintenance. And like any one that's had access to more money, new job, promotion, raise etc.... the government has become accustomed to spending that money. SO now with the cost per gallon down almost half from its peak, that tax revenue is down by half... So they sneak in a little bump in the rate to cover the shortfall. And alas, gas will creep back up, because the market glut will only last so long before exploration will die because of lack of profit. At 120 to 200 a barrel.... there is lots O money on new oil discoveries. At $52.00 a barrel.... lots O wells are going to go into maintenance to wait for a better return on the dollar.... cutting off the glut.

1.99 for gas and 2.89 for diesel today

just seen on the way home diesel for $2.85 but they was closed already on the way to work tomorrow I will stop and fill up. Walmart was $3.02 tonight but might be higher by morning.