$2.99 a gallon! Now just $1.99 !

Another theme that seems to be emerging.....normally, when oil prices tank, OPEC, and other large producers cut back on production to keep prices high. Due to the fact that the US is becoming a real powerhouse in oil/gas production, the cartels are not cutting back on production. They want us to "suffer" with low oil prices/profits right along with them. So, "drill baby drill" seems to be a real winner for US consumers. Stock holders of the oil companies aren't doing so well right now with prices down, but, that is the way it goes.     

See post 4

Gary....Great minds thinking alike. You had it right. I would not mind at all to see Putin, OPEC, and all the other thugs in the world that are key oil producers get their wings clipped.

Drill baby....DRILL!!!!

I never thought I would say this, but, Obama's pro-carbon energy policy is paying off big time.

Next we will tackle the Kennedy assassination in our series of conspiracy theories

Nautiquehunter wrote: If the keystone pipeline was built it would drive down the price even farther due to speculators. Not much chance of that happening in the next 2 years.

Now this is where Gary really drove home his point in post #4. The election is really getting in the way of the Keystone pipeline decision. I doubt it will happen before Obama leaves office, but, he may approve it after the election (or at least decide against it)....when he has more flexibility. Just like he is going to wait to grant amnesty to millions of "undoumented workers" until after the election. It's not a political decision though. He just needs to make sure people really understand why he is going to do it. Its a messaging thing.

I made it through the Cheddar Curtain today and gassed up in Racine WI for $3.09/gal. Once I slipped unnoticed back into the Peoples Republic of Illnois, I saw gas at $3.07/gal. This was out in the country though, and not in the city. I remember several years back being in downtown Chicago, and seeing gas at $4.65/gal. I think that is the highest I have ever seen gas.   

   

309 at our Shell in Algonquin today

I remember on vacation when I was very young (1974ish) my dad driving away from the freeway into no-where South Dakota looking for cheaper fuel because there was no way he was going to pay 50 cents a gallon.

$2.99 a gallon! They might as well just give it away. I remember in 2001 driving to the backwards state of Kentucky and paid $0.87 a gallon for diesel and $0.88 for gas in every state along the way. Rather the quadruple number of $3.50~ So by those numbers, 13 years later I should be banking $190,000 a year..... Yepper I guess my boss missed the memo. My pay basically stayed the same only lost my medical benefits   

Drum roll please! I would like to announce gas has hit $2.97 in the Chicago burbs. That must mean its $1.30 in Wisconsin and Indiana.

2.85 in CA...

Transcanada wants to build a pipeline to the east and a ship terminal on the coast to run oil tankers all up and down the east coast of the US...hope none of you are worried about oil spills along the east coast.

$2.95 in southern Maine. We have tankers coming in and out of Portland Harbor every day. Oil spills are very rare and the one time it happened about 20 years ago, it was cleaned up quickly. The Progressives have been successfully in getting tar sands oil banned from being piped into the harbor from Canada.

Dave,
What is the effect on the low oil prices in the plastic market?

I see many things getting cheaper at the grocery store these days, (with the exception of very painful meat prices) I am curious how much that relates to the lower fuel prices for transportation? Fuel went back up over $3 here for a few weeks, but I paid $2.79 this week.

$1.92 here in Roanoke..... I know there are cheaper places, but I am VERY happy with that - wish we were on the water more!