$2.99 a gallon! Now just $1.99 !
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Printed Date: April-27-2024 at 2:50pm
Topic: $2.99 a gallon! Now just $1.99 !
Posted By: OverMyHead
Subject: $2.99 a gallon! Now just $1.99 !
Date Posted: October-12-2014 at 11:52am
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Some big changes since 2012, Paid 2.99 a gallon this week. Makes it a little easier to top of the tank for winter lay up. ------------- For thousands of years men have felt the irresistible urge to go to sea, and many of them died. Things got better after they invented boats. 1987 Ski Nautique |
Replies:
Posted By: SNobsessed
Date Posted: October-12-2014 at 12:56pm
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Kinda makes you want to bury a big tank & fill it up about April! Somehow I don't think the city zoning board would go for it though . . . ------------- “Beer is proof that God loves us and wants us to be happy.” Ben Franklin |
Posted By: GlassSeeker
Date Posted: October-12-2014 at 1:18pm
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Wonder what is pushing the price down?...Obama? ------------- This is the life |
Posted By: Gary S
Date Posted: October-12-2014 at 2:21pm
Election time??? That or their trying to bankrupt the Russians ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=1711&sort=&pagenum=1&yrstart=1966&yrend=1970" rel="nofollow - 69 Mustang HM SS 95 Nautique Super Sport |
GlassSeeker wrote:Posted By: leetudor
Date Posted: October-12-2014 at 11:41pm
| I bought some for $2.76 today. Non ethanol 89 octane was $3.52. |
Posted By: boardersdad
Date Posted: October-15-2014 at 2:46am
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Talked to an oil company bigwig and the price should be under $1.90. Mainly the U.S. policy to not drill on public lands allows other countries to jack the price. But hey, we've got to stop this global climate change... |
Posted By: baitkiller
Date Posted: October-15-2014 at 9:03am
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Funny, price of gas on the street has dropped about 60 cents in the last few months but it hasn't moved a tick at the marina where Im held hostage. No kidding its like $5.60 a gallon. ------------- Jesus was a bare-footer............. |
Posted By: JoeinNY
Date Posted: October-15-2014 at 10:16am
There is no such policy - outside of a few wild life preserve areas - there is plenty of drilling on public lands in the US. ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=1477 - 1983 Ski Nautique 2001 1967 Mustang 302 "Decoy" http://www.youtube.com/watch?v=cO5MkcBXBBs - Holeshot Video |
Posted By: leetudor
Date Posted: October-15-2014 at 9:00pm
| Saw it $2.69 today at several places. |
Posted By: 75 Tique
Date Posted: October-15-2014 at 10:42pm
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Maybe no formal policy but... http://www.reuters.com/article/2014/04/22/kemp-usa-oildrilling-idUSL6N0NE33K20140422" rel="nofollow - http://www.reuters.com/article/2014/04/22/kemp-usa-oildrilling-idUSL6N0NE33K20140422 Kind of like there is no formal policy against running pipelines down from Canada, but.... ------------- _____________ “So, how was your weekend?” “Well, let me see…sun burn, stiff neck, screwed up back, assorted aches and pains….yup, my weekend was great, thanks for asking.” |
Posted By: JoeinNY
Date Posted: October-16-2014 at 12:54am
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No offense Larry but that's a BS opinion piece by a biased writer or he would mention that the fact we have increased drilling faster on private land as of late and not public land is because that's where all the shale is ...but there is still plenty of drilling on our federal land by private companies and by plenty I mean the most ever. We are a net oil exporter for the first time in modern history - if other countries are controlling the price then it is our trade balance that is benefitting. ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=1477 - 1983 Ski Nautique 2001 1967 Mustang 302 "Decoy" http://www.youtube.com/watch?v=cO5MkcBXBBs - Holeshot Video |
Posted By: Hansel
Date Posted: October-16-2014 at 1:08am
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This thread made me curious about drilling on public lands, and being unsatisfied with a Reuters column as the basis of my information, I hunted around online a bit to see what the consensus was on this topic. It seems that there is some merit to the fact the drilling on public lands has remained stable, or even fallen, and that the increase in oil/NG production in the US is mostly due to increased extraction from private land. However, http://energycommerce.house.gov/sites/republicans.energycommerce.house.gov/files/20130228CRSreport.pdf" rel="nofollow - according to a 2013 report * by the (super cool! your tax dollars at work) http://en.wikipedia.org/wiki/Congressional_Research_Service" rel="nofollow - Congressional Research Service , this is mostly due to a fall in offshore drilling (following Deepwater Horizon, remember that?) since 2010. Over the period 2007-12 there was actually a 15% increase in oil production on Federal land. Over the same time period there was around a 35% increase in oil production on private land.  From CRS report mentioned above. Let's assume gas is selling at the pump for $3.00/gallon. In inflation adjusted dollars circa 2000 (the year I started driving) that is $2.17. The average price of a gallon of gasoline in the US during the year 2000 was http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=a" rel="nofollow - $1.53 , so gas is about 40% more expensive today than it was 14 years ago. Remember; energy markets, like nearly everything these days, are global. US oil production has increased about 20% from 2000-12 (from about 5 million barrels per day to over 6 million barrels per day). Meanwhile, over the same period US http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mgfupus1&f=a" rel="nofollow - gas consumption has only risen about 4%, so clearly domestic oil production and the price of gas at the US pump are not at all directly related. Considering the massive increase in global energy demand (China, India, Africa anybody?) I'd say a 40% increase doesn't seem so bad. Basically, gas is pretty frickin' cheap. It is ironic that in a thread celebrating the current low prices, folks are still complaining about how they wish it was even cheaper. I lived in Iceland for over a year between 2008-2012. I don't recall a time when gas was cheaper than $8.00/gal, and more often it was closer to $10.00/gal. If you think those folks don't like to/have to drive as much as we do you are wrong. There are many small cars in Iceland, but plenty of SUVs (many lifted/large tires for off-road use). As we've all taken note in the "Angry" thread, be happy it is cheap at the moment because nothing is forever. *For those that are interested I highly recommend reading this entire document (it is rather short). |
Posted By: JPASS
Date Posted: October-16-2014 at 8:32am
Don't we have to take into account that we have refineries here in the US and that actually saves us some money in the production of gas where as other countries do not and must pay for the crude an the refinement of it into gasoline for their vehicles? Does Iceland have refineries or do they ship/pipe in a finished product? I do believe at the current price per barrel, we should be seeing gas prices at right around $2/gallon when compared to similar prices per barrel from a few years back. Inflation/demand/commodities most definitely help to drive up the current cost of fuel when comparing it to past prices. I still think it's too expensive considering we are now almost equaling Saudi Arabia in regards to production. I couldn't care less what other countries are paying for fuel. Do we know the taxes associated with that $8/gallon Icelandic fuel? It's still above $3/gallon here in central Florida ($3.09). Can't wait to see if it dips below the $3 mark. ------------- '92 Correctcraft Ski Nautique |
Posted By: Hansel
Date Posted: October-16-2014 at 10:06am
I used the Iceland example only because they have very expensive gas but they still have a lifestyle not that dissimilar from us (though I never did see a ski boat). I don't know for sure, but I think you are correct that there are no Icelandic refineries and that all fuel has to be imported. I haven't traveled outside of the West, but most of the places I've been in W. Europe had gas prices that were somewhere between ours and Iceland's, and I would attribute that to a variety of factors, including very high taxes. Price per barrel of crude oil over time adjusted for inflation Adjusted for inflation, the http://www.macrotrends.net/1369/crude-oil-price-history-chart" rel="nofollow - current price per barrel is about twice as expensive now as it was in 2000, so if gas were about $1.50 then it should be around $3.00 now. Hmmm... Seems about right. Of course prices are usually more like $3.50-4.00, but even so the price per barrel and the "pain at the pump" appear to me to track more closely than I would have expected. I was actually surprised to see this because in general I agree with your sentiment that they seem to be more decoupled, but I had never honestly looked at the data. As consumers we've also become habituated to high prices, so I'd guess that is part of the reason why things do not scale 1:1 between the price of crude and the price of gas. Also, there are production lags and a host of other factors to consider. In general, I would expect companies to make more profit the higher the price goes because at the low end they have numerous fixed costs that do not scale linearly as the price increases (this is the reason that McDonald's can sell you twice as much food for 150% of the price and still make a greater profit), so this probably explains in part why Exxon and other oil companies are making record profits. As I noted previously, and as any market-minded individual knows, fuel is a global market. If demand outstrips production the price will go up. Who cares how much we are pumping compared to other nations, or even how much we have pumped compared to the past? Everything relates to how much folks are willing to pay, here and abroad. If/when the European and Chinese economies get back on their feet (something akin to activity prior to 2008) I don't think $5/gal would be too far off. So again, enjoy it while it lasts. It must be getting chilly since these threads are warming up again... (that goes as much for myself as anybody else). |
Posted By: Hollywood
Date Posted: October-16-2014 at 12:19pm
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Hansel and Joe, I love your posts on these hot topics. They're so factual. FACKS ARE FACKS!  ------------- |
Posted By: Riley
Date Posted: October-16-2014 at 12:24pm
| How much does Iceland tax gas? |
Posted By: JoeinNY
Date Posted: October-16-2014 at 12:29pm
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You don't have to take anything into account to know that there is no policy against pumping oil out of public land in the US that is having any significant effect on gas prices. There is currently more production than demand, therefore adding even more production is unlikely to have an effect on prices. Plenty of things that do effect them, like speculation on wall street, price fixing by refineries, price fixing by opec, the value of the dollar (which has gone up and is probably the biggest factor in the current reduction in a barrel of oil price), and decreased demand due to economic and regulatory factors. If one really wanted to get froggy about gas prices they would in fact wonder why when we currently are pumping more gas than we can use it hasn't fallen faster... but blaming it on the government regulating too much how we give the oil under our land to private companies or whether or not we compel individuals and states to allow an oil pipeline through their land is much farther from the truth than blaming it on a lack of government regulation of the speculators and monopolies. Real gas prices in this country reached their modern peak when we were at our lowest state of regulation both in industry oversite and in efficiency regulation, so lax in fact that there were massive costs in human lives and environmental damage. If there is a relationship between regulation and cost it is an inverse one. ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=1477 - 1983 Ski Nautique 2001 1967 Mustang 302 "Decoy" http://www.youtube.com/watch?v=cO5MkcBXBBs - Holeshot Video |
Posted By: Hansel
Date Posted: October-16-2014 at 1:33pm
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http://oil.laxdal.org/index.php?language=EN" rel="nofollow - Iceland taxes gas at ~50%. http://en.wikipedia.org/wiki/Fuel_taxes_in_the_United_States%20" rel="nofollow - In the US taxes average (fed+state+local) about 50 cents, so currently ~17%. |
Posted By: Riley
Date Posted: October-16-2014 at 1:38pm
| So 50% = $4/gal, so their gas price is a somewhat higher than ours, but their high price at the pump is due to a tax problem. |
Posted By: JoeinNY
Date Posted: October-16-2014 at 1:55pm
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To tax gas or not to tax gas is pretty much a separate argument, someone is going to pay for government somehow, I would rather pay 4 dollars a gallon with 2.50 going to taxes and 1.50 going to oil companies and refineries than pay 3 bucks a gallon with .50 going to taxes 1.50 going to oil companies and refineries and 1.00 going to speculators. But that's just me, being in the middle class I know I am going to pay all the taxes for the country either way so whether they are on my gas, or my income, or my property it is all the same to me. ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=1477 - 1983 Ski Nautique 2001 1967 Mustang 302 "Decoy" http://www.youtube.com/watch?v=cO5MkcBXBBs - Holeshot Video |
Posted By: Riley
Date Posted: October-16-2014 at 2:02pm
| Just saying that when you make a case about how cheap our gas is compared to some place else, it has a lot to do with taxes... |
Posted By: Hansel
Date Posted: October-16-2014 at 7:39pm
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My Iceland example was only to illustrate that gas is relatively cheap here, not on why the price varies from place to place. That is somewhat of a separate issue. Incidentally, gas is selling for $2.97 here in Lexington this afternoon. |
Posted By: Treybizttu
Date Posted: October-16-2014 at 7:42pm
| Saw $2.85 south of town this morning. |
Posted By: peter1234
Date Posted: October-16-2014 at 9:00pm
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i paid 355 near thw highway but saw 309 in the middle of the city.. hhmm i wonder if they prey on travelers ------------- former skylark owner now a formula but I cant let this place go |
Posted By: jbear
Date Posted: October-17-2014 at 1:55am
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man I love it when it start s getting cold up north...this is better than tv... john ------------- "Loud pipes save lives" AdamT sez "I'm Canadian and a beaver lover myself"... |
Posted By: GlassSeeker
Date Posted: October-17-2014 at 2:36am
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The bond market is rallying driving interest rates down because the guys with money know we are still not out of the woods and won't be for some time...5+ more years they are betting. Cheap gas sure would help an ailing economy ------------- This is the life |
Posted By: GlassSeeker
Date Posted: October-17-2014 at 2:38am
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Chevron and Shell sure prey on anyone dumb enough to wander into their overpriced gas stations...they are are the marinas of the road ------------- This is the life |
Posted By: Orlando76
Date Posted: October-17-2014 at 8:01am
| Funny because here Shell is pretty competitive. Luckily Orange County (Orlando) has cheapest gas in all of Florida. Something I never understood is on one corner gas can be say $3, on the corner next to it $3.25 and yet the more expensive one will have just as many customers. |
Posted By: JPASS
Date Posted: October-17-2014 at 8:31am
Unless you're down by OIA, then gas is almost $5/gallon. Biggest tourist trap in town. ------------- '92 Correctcraft Ski Nautique |
Posted By: davidg
Date Posted: October-17-2014 at 3:16pm
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I was curious as to why gas prices are falling, so I did some quick searches to get a feel for some key drivers. - Boom in production in US, and other global producers still pumping it out in large qtys. Resulting in global glut of oil. - Slowing global economy decreases demand. I have been noticing that when I fill up, it has taken as much as around $70 to fill it completely it. Now it takes around $55 or so. The money people are no longer paying for high gas prices will also have a stimulative effect on the economy. |
Posted By: davidg
Date Posted: October-20-2014 at 11:19am
| 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. |
Posted By: Hansel
Date Posted: October-20-2014 at 11:43am
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Don't know if I buy this, but... http://www.bbc.com/news/blogs-echochambers-29651742%20" rel="nofollow - "Is the oil crash a secret US war on Russia?"(BBC News) |
Posted By: Gary S
Date Posted: October-20-2014 at 11:54am
See post 4  ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=1711&sort=&pagenum=1&yrstart=1966&yrend=1970" rel="nofollow - 69 Mustang HM SS 95 Nautique Super Sport |
Posted By: Riley
Date Posted: October-20-2014 at 12:15pm
| Gas taxes will be going up next. |
Posted By: davidg
Date Posted: October-20-2014 at 12:18pm
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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. |
Posted By: Hansel
Date Posted: October-20-2014 at 12:37pm
| Haha, sorry Gary i had already forgot about your post I got so wrapped up in official gub'ment numbers. I doubt that narrative but who really knows what goes on behind the scenes. |
Posted By: Gary S
Date Posted: October-20-2014 at 12:53pm
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Next we will tackle the Kennedy assassination in our series of conspiracy theories ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=1711&sort=&pagenum=1&yrstart=1966&yrend=1970" rel="nofollow - 69 Mustang HM SS 95 Nautique Super Sport |
Posted By: Nautiquehunter
Date Posted: October-20-2014 at 3:06pm
| Heard on the radio this morning the reason gas has fallen is due to higher production. They also said production has gone up 60% on private land and has fallen 9% on public land . 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. |
Posted By: davidg
Date Posted: October-20-2014 at 3:38pm
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. |
Posted By: quinner
Date Posted: October-21-2014 at 9:55am
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In Northern Illinois we are still just over $3.00, Chicago is $3.50-$4.00 with all the added tax. Usually just north beyond the cheddar curtain it's 5-10 cents cheaper. |
Posted By: davidg
Date Posted: October-21-2014 at 9:26pm
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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. |
Posted By: leetudor
Date Posted: October-21-2014 at 9:44pm
| I paid $2.62 for some today. |
Posted By: Gary S
Date Posted: October-21-2014 at 9:51pm
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309 at our Shell in Algonquin today ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=1711&sort=&pagenum=1&yrstart=1966&yrend=1970" rel="nofollow - 69 Mustang HM SS 95 Nautique Super Sport |
Posted By: JPASS
Date Posted: October-21-2014 at 9:54pm
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$2.97 at the Racetrac down the street. ------------- '92 Correctcraft Ski Nautique |
Posted By: OverMyHead
Date Posted: October-21-2014 at 10:06pm
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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. ------------- For thousands of years men have felt the irresistible urge to go to sea, and many of them died. Things got better after they invented boats. 1987 Ski Nautique |
Posted By: jbear
Date Posted: October-22-2014 at 1:40am
snowstorm must be right on the horizon... john ------------- "Loud pipes save lives" AdamT sez "I'm Canadian and a beaver lover myself"... |
Posted By: Orlando76
Date Posted: October-22-2014 at 7:56am
$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 
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Posted By: Nautiquehunter
Date Posted: October-22-2014 at 9:51am
| In 1968 I helped my brother with his gas station job . It was a Rex station and gas was 17 cents a gal and we cleaned the windows checked the oil and tires and pumped it. I got 2.00 a day. |
Posted By: davidg
Date Posted: October-28-2014 at 11:13am
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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.
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Posted By: skutsch
Date Posted: October-28-2014 at 12:37pm
Not quite that low, but it is $2.91!!! ------------- Our http://www.correctcraftfan.com/diaries/details.asp?ID=4669" rel="nofollow - 98 Sport Nautique My Dad's 63 Ski N |
Posted By: GlassSeeker
Date Posted: November-17-2014 at 3:13am
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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. ------------- This is the life |
Posted By: leetudor
Date Posted: November-17-2014 at 9:10am
| Paid $2.44 for some gas in Nashville yesterday. |
Posted By: Riley
Date Posted: November-17-2014 at 9:51am
| $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. |
Posted By: terminaldegree
Date Posted: November-17-2014 at 5:54pm
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Still at $2.99 in western WI. I'm surprised to hear it's cheaper in the Chicago suburbs! If it weren't for the damned ethanol, I'd just wait to buy in Minnesota every time. ------------- 1996 Sport Nautique GT40/Acme 422 |
Posted By: 8122pbrainard
Date Posted: November-17-2014 at 7:47pm
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Dave, What is the effect on the low oil prices in the plastic market? ------------- /diaries/details.asp?ID=1622" rel="nofollow - 54 Atom /diaries/details.asp?ID=2179" rel="nofollow - 77 Tique 64 X55 Dunphy Keep it original, Pete < |
Posted By: davidg
Date Posted: November-17-2014 at 9:35pm
| Pete....I deal more in specialty plastic compounds that are pretty far removed from the gyrations of commodity PP, PE and PS markets. A truckload to me is a pickup truck load:). But, back in the Sept and Oct timeframe, there were some increases in PP based compounds. I would guess we will see some decreases with the collapse in oil coming soon. I will check with our distribution guys to see what they are seeing in the commodity materials. |
Posted By: OverMyHead
Date Posted: November-18-2014 at 1:06am
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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. ------------- For thousands of years men have felt the irresistible urge to go to sea, and many of them died. Things got better after they invented boats. 1987 Ski Nautique |
Posted By: davidg
Date Posted: December-30-2014 at 4:35pm
| Time to rename this post to $1.99/gal!! I saw $1.99 yesterday in McHenry IL (NW suburbs of Chicago). I used to pay up to $70 or so to fill my Taurus. Last time I filled up it cost $33. Drill baby drill!! |
Posted By: Air206
Date Posted: December-30-2014 at 4:42pm
$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!  ------------- https://tinyurl.com/y6t5e3bu" rel="nofollow - 04 Air206 http://tinyurl.com/9urzgls" rel="nofollow - 91 Barefoot 78 SkiTiq |
Posted By: tullfooter
Date Posted: December-30-2014 at 5:00pm
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$1.78 cash or credit in Flint, MI yesterday. ------------- Play hard, life's not a trial run. '85 BFN '90 BFN White Lake, Michigan |
Posted By: OverMyHead
Date Posted: December-30-2014 at 5:11pm
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I have heard of local $1.99 but have not personally paid under $2.19. Remember all those that told us that drill baby drill would never be significant enough to lower global prices, so we should not try. The same ones that tell us we can't build our way out of congestion. ------------- For thousands of years men have felt the irresistible urge to go to sea, and many of them died. Things got better after they invented boats. 1987 Ski Nautique |
Posted By: JoeinNY
Date Posted: December-30-2014 at 6:26pm
Remind us who that was again? ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=1477 - 1983 Ski Nautique 2001 1967 Mustang 302 "Decoy" http://www.youtube.com/watch?v=cO5MkcBXBBs - Holeshot Video |
Posted By: davidg
Date Posted: December-30-2014 at 6:57pm
I for one wouldn't mind putting thugs like Putin, and the Iranian Ayatolla's (sp??) and other oil rich nations dictators that hate the USA out of business. I guess all those people that said we could never put a dent in oil prices because its a global commodity were wrong. Just imagine if we drilled in Anwar and built the Keystone pipeline. We might have to rename this thread "$.99 A Gallon"
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Posted By: M3Fan
Date Posted: December-30-2014 at 7:24pm
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I read somewhere that the prices were declining because OPEC purposely has not decreased supply with the intent to make the other players on the oil scene, particularly in the USA and Russia, operate at a net loss due to excess supply and low prices and eventually go out of business after which they can jack prices up. Seemed pretty convincing https://medium.com/@dalarossa/oil-crisis-explained-in-3-minutes-60c252fa96f7" rel="nofollow - Oil Crisis Explained in 3 minutes ------------- 2000 SN GT40 w/99 Graphics/Gel 2016 SN 200 OB 5.3L DI https://forum.fifteenoff.com |
Posted By: OverMyHead
Date Posted: December-30-2014 at 11:17pm
OK I will play. “You can bet that since it’s an election year, they’re already dusting off their 3-point plan for $2 gas. And I’ll save you the suspense. Step one is to drill and step two is to drill. And then step three is to keep drilling. (Laughter.) We heard the same line in 2007 when I was running for President. We hear the same thing every year. We’ve heard the same thing for 30 years. Well, the American people aren’t stupid. They know that’s not a plan, especially since we’re already drilling. That’s a bumper sticker. It’s not a strategy to solve our energy challenge.” Excerpt from Obama Speech 2/23/12 from whitehouse.gov Pelosi Tweet  And CNN Money NEW YORK (CNNMoney) -- Every time gas prices reach record highs the call goes out for more oil drilling. This year it's no different. "The Gulf is ready to get back to work to help create jobs and lower gasoline prices," Washington Republican Doc Hastings, head of the House Natural Resources Committee and a big proponent of more drilling, said last week. The problem is this: While increased oil and gas drilling in the United States may create good-paying jobs, reduce reliance on foreign oil and lower the trade deficit, it will have hardly any impact on gas and oil prices. That's because the amount of extra oil that could be produced from more drilling in this country is tiny compared to what the world consumes. Plus, any extra oil the country did produce would likely be quickly offset by a cut in OPEC production.
------------- For thousands of years men have felt the irresistible urge to go to sea, and many of them died. Things got better after they invented boats. 1987 Ski Nautique |
Posted By: JoeinNY
Date Posted: December-31-2014 at 12:17am
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Ah but your talking about that drilling that we didn't do... because we re-elected tree hugger obuma that wouldnt let us drill in the arctic national wildlife refuge or build that super duper important tar sands pipeline, or give away leases to drill on national land quick enough. Instead he did crazy things like increase fuel efficiency standards, put research money into alternate energy, and employ regulators that would actually do something when speculators artificially raised the price of oil.... all while apparently not getting in the way of domestic oil production in intelligent locations (since it is at its highest level ever). But of course 6 years into an obama driven executive branch you are giving the credit for lower oil prices to palin and romney... Once again there is no functioning free market setting the price of oil. The fact that OPEC sets production levels is by definition market manipulation. If Saudi Arabia wanted they could sell oil at 35 a barrel... nothing coming out of the us is profitable at that level. So when you pay to much for oil blame them - when it goes down you can thank them. As for domestic oil production being so high... that probably is actually bushes fault, if he hadnt gotten the price of a barrel of oil so high by starting a couple wars and filling up the strategic reserve in the middle of them, nobody would have considered investing money in domestic projects that cost 50-80 dollars a barrel to produce oil when the Saudis can pump it for half that. ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=1477 - 1983 Ski Nautique 2001 1967 Mustang 302 "Decoy" http://www.youtube.com/watch?v=cO5MkcBXBBs - Holeshot Video |
Posted By: SNobsessed
Date Posted: December-31-2014 at 10:50am
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When talking about cheap Saudi oil, don't forget the cost of our aircraft carriers keeping the those delivery tankers safe . . . ------------- “Beer is proof that God loves us and wants us to be happy.” Ben Franklin |
Posted By: OverMyHead
Date Posted: December-31-2014 at 11:20am
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[QUOTE=JoeinNY] Ah but your talking about that drilling that we didn't do... because we re-elected tree hugger obuma /QUOTE] No I am talking about the drilling we did despite re-electing.....you know, who you said. I doubt our investments in wind and solar effected the price of oil, and that was a lot of our investment. I don't see electric cars or bio fuels as anything more than minimal contributors either. Global oil demand is at a record high, so its not a demand issue. Must be increased production! IMHO the price is currently to low, a volatility issue adjusting to the new dynamics. I see the long term settling above 60 a barrel keeping at least some fracking production in the picture. IF left alone (Big IF) the industry will find a balance. In the mean time there are some very interesting Geo-political effects. ------------- For thousands of years men have felt the irresistible urge to go to sea, and many of them died. Things got better after they invented boats. 1987 Ski Nautique |
Posted By: JPASS
Date Posted: December-31-2014 at 12:26pm
I read a story that stated OPEC decided not to cut back for fear that other nations will quickly fill the void they leave and OPEC fears they will lose that piece of the pie so to speak. Regardless of the reasons, I am truly enjoying these lower prices. I'm currently saving about $100/month in fuel costs. http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/11317216/Brent-oil-hits-new-low-as-Opec-price-war-deepens-slump.html" rel="nofollow - Article "Opec countries led by Saudi Arabia - which pump a third of the world's crude - are concerned about the loss of market share to shale oil drillers in the US and ballooning supply outside the group. " ------------- '92 Correctcraft Ski Nautique |
Posted By: JoeinNY
Date Posted: December-31-2014 at 12:39pm
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Dave your economics astound me - what proof do you have that the availability of energy alternatives have not had any effect on the price of oil - that's just nonsense - it doesn't jive with the world view fox has given you so you doubt it.. And now gas prices are too low for your taste, talk about being a tough crowd.. If left alone the industry will not find a balance, if left alone this industry will create a monopoly and fix the cost of oil at wherever it feels the market will yield the most profit. That is just a historical fact - or have you never heard of standard oil, or OPEC? ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=1477 - 1983 Ski Nautique 2001 1967 Mustang 302 "Decoy" http://www.youtube.com/watch?v=cO5MkcBXBBs - Holeshot Video |
Posted By: JPASS
Date Posted: December-31-2014 at 12:44pm
Read this comment today that I believe supports your stance: "This is a callous move by OPEC to kill the competition. They will keep prices low until they kill off frackers and deep-water drillers plus stem the movement into alternative energies. Then they will jack up the prices to make up the difference. With the other producers out of business and bankrupted they will have less competition. They did this back in the 70's when Jimmah Cahtah started investing into alternative energy- price dropped overnight 40-50% and the movement withered. I dread the return of sky-high prices." ------------- '92 Correctcraft Ski Nautique |
Posted By: Gary S
Date Posted: December-31-2014 at 1:13pm
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At this time it has nothing to do with our drilling it's all politics and religon. They can produce oil cheaper than anyone.If they wanted to they could just pump more flooding the market and put us out,but they chose to keep production the same. The reasons are the Saudis are Sunni,Iranians are Shi’a. With Iran on the verge of going nuclear they are worried about what their neighbor might do. The last time this happened it resulted in the Iranian revolution. The shah had over spent,the Saudis manipulated the oil market to keep the price lower than the Iranians needed and put them out of "business",the same thing now being done to them and Russia,last time it bought them 30 something years. On a side note my great uncle,a pilot from 1924 to 1970 when he retired from TWA with 28,000 hours was King Faisals pilot. He was in charge of training when TWA was involved with Saudi Arabian Airlines and lived in Jeddah for almost 20 years. ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=1711&sort=&pagenum=1&yrstart=1966&yrend=1970" rel="nofollow - 69 Mustang HM SS 95 Nautique Super Sport |
Posted By: OverMyHead
Date Posted: December-31-2014 at 3:14pm
Joe, re-read my post. I did not say alternatives had no effect, I said minimal. World oil demand is up, but prices are down. Simple supply demand economics tells me there is a greater factor than alternatives in play here. Also I did not say the current price is to low for my taste. Low gas prices have done more to stimulate my middle class families economy than anything Obama has done in the last six years, all without increasing taxes, the deficit, or the size and reach of the government. Win, win, win, win! I do see the "new normal" finding a spot north of $60 a barrel though. ------------- For thousands of years men have felt the irresistible urge to go to sea, and many of them died. Things got better after they invented boats. 1987 Ski Nautique |
Posted By: JoeinNY
Date Posted: December-31-2014 at 4:37pm
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Forecasted increase in demand is down, as the population of the world continues to grow there has always been the expectation of increase in demand until such time as the populations leveled off... new regulations and technologies have absolutely effected that forecasted demand (you would know that if you read the reports of those doing the forecasting, cause they tell you that in the report) and that is what drives the cost of oil (to the extent that the market works as all), it is not simple supply and demand but rather forecasted demand and forecasted supply that control the price of oil futures, which becomes the cost of oil. I just think its odd you would gloat about how right you were about how wrong the current regime was about what it took to reduce gas prices... when 6 years into their regime gas prices are lower than anyone would have predicted possible. ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=1477 - 1983 Ski Nautique 2001 1967 Mustang 302 "Decoy" http://www.youtube.com/watch?v=cO5MkcBXBBs - Holeshot Video |
Posted By: OverMyHead
Date Posted: December-31-2014 at 5:37pm
Yup, the current regime was wrong as could be about this. Makes a guy wonder what else they are wrong as could be about?? Increase in demand decreasing is different than demand decreasing. It must be forecast supply increasing that is dropping prices. ------------- For thousands of years men have felt the irresistible urge to go to sea, and many of them died. Things got better after they invented boats. 1987 Ski Nautique |
Posted By: JoeinNY
Date Posted: December-31-2014 at 5:47pm
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I can see its going to be another couple years of the talk radio crowd alternating between denying reality and denying that the people running the executive branch for the last 6 years had nothing to do with it... me I'll just go fill up the pick up truck with the good stuff and look forward to my year end 401k statements ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=1477 - 1983 Ski Nautique 2001 1967 Mustang 302 "Decoy" http://www.youtube.com/watch?v=cO5MkcBXBBs - Holeshot Video |
Posted By: Gary S
Date Posted: January-01-2015 at 8:49pm
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http://news.yahoo.com/iran-says-saudi-arabia-move-curb-oil-price-162227964.html" rel="nofollow - Reuters link 7 hours old,look what I posted above on the 31st ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=1711&sort=&pagenum=1&yrstart=1966&yrend=1970" rel="nofollow - 69 Mustang HM SS 95 Nautique Super Sport |
Posted By: tullfooter
Date Posted: January-05-2015 at 12:25am
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$1.69 in Flint, MI (Cash or credit) ------------- Play hard, life's not a trial run. '85 BFN '90 BFN White Lake, Michigan |
Posted By: JoeinNY
Date Posted: January-05-2015 at 12:30am
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Now that's cheap! ------------- http://www.correctcraftfan.com/diaries/details.asp?ID=1477 - 1983 Ski Nautique 2001 1967 Mustang 302 "Decoy" http://www.youtube.com/watch?v=cO5MkcBXBBs - Holeshot Video |
Posted By: oldcuda
Date Posted: January-05-2015 at 12:46am
| Just saw 1.87 in Iowa. Just payed 2.73 for diesel was making a killing on fuel surcharges for a while oh well. |
Posted By: Fabcon
Date Posted: January-05-2015 at 1:32am
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Just paid $1.99 in Minnesota to fill up the truck felt pretty good. ------------- 1976 Ski Nautique 351 Escort 1984 Barefoot Nautique (Parting Out) |
Posted By: mark c
Date Posted: January-05-2015 at 8:37am
| 2.11 cheapest I've actually seen in Eastern MA, there's supposed to be a station at 1.99 out in Southbridge MA west of Worcester. |
Posted By: JPASS
Date Posted: January-05-2015 at 9:27am
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$2.12 down here, and certainly not complaining. ------------- '92 Correctcraft Ski Nautique |
Posted By: OverMyHead
Date Posted: January-13-2015 at 9:33am
Joe, I know you would like to think my every thought comes from FOX. Here's a link that shows I am actually 2 weeks ahead of FOX, they even use some of the same quotes this morning that I posted on December 30th. http://www.foxnews.com/politics/2015/01/13/dems-change-tune-after-mocking-gop-for-drill-baby-drill/" rel="nofollow - Gas pump politics Maybe FOX is reading CCFAN? I paid 1.94 last fill. ------------- For thousands of years men have felt the irresistible urge to go to sea, and many of them died. Things got better after they invented boats. 1987 Ski Nautique |
Posted By: davidg
Date Posted: January-14-2015 at 12:49am
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Filled up in Sheridan, Ind. this evening for $1.88/gal. Cost me just under $30 to fill the tank which was down to fumes. These prices are really amazing! |
Posted By: OverMyHead
Date Posted: January-27-2015 at 8:39pm
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Paid 1.84 on Sunday. I wish I was funded to buy some oil futures about now. I expect prices will be up by boating season! ------------- For thousands of years men have felt the irresistible urge to go to sea, and many of them died. Things got better after they invented boats. 1987 Ski Nautique |
Posted By: Air206
Date Posted: January-28-2015 at 12:11am
Ok, this is what I spent over the weekend in Richmond, VA. "Loyalty points" helped a little.... ------------- https://tinyurl.com/y6t5e3bu" rel="nofollow - 04 Air206 http://tinyurl.com/9urzgls" rel="nofollow - 91 Barefoot 78 SkiTiq |
Posted By: Hansel
Date Posted: January-28-2015 at 10:32am
OPEC doesn't meet again until June, so I expect that these prices may continue until at least then. |
Posted By: AAM196
Date Posted: January-28-2015 at 4:52pm
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LOL... Every time I fill up and price drops another dime a gallon (here 93 is around $2.50 gallon) I dream about pulling up to the gas dock and handing the girl a $20 for 1/2 tank of gas this summer... lol It is funny how we now have people worrying gas is to cheap! I know in this area a lot of people invested in fracking don't like it. Probably going to be a bit longer before we see these... https://www.youtube.com/watch?v=RJbsksDDlVI" rel="nofollow - electric 196 |
Posted By: Tim D
Date Posted: January-28-2015 at 6:29pm
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One thing people don't talk about when discussing gas prices is the difference. Wasn't that long ago the difference between 87 and 93 was 20-21 cents. 89 was 10 cent more than 87, 93 was 10 cent more than 89. Now, most places it's 40-48 cents difference between 87 and 93. ------------- Tim D |
Posted By: JPASS
Date Posted: January-28-2015 at 9:55pm
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^^ I've totally noticed that. Gas is down to $1.94 by me. Hope this lasts for summer. ------------- '92 Correctcraft Ski Nautique |
Posted By: TX Foilhead
Date Posted: January-29-2015 at 12:28am
| We're getting closer to the .10 per grade here, mid and super don't drop with regular but they come down a few weeks down the road. Seems like the higher grades need to sell out before the price lowers and this time of year that takes a little longer than it does in the summer when the tourists are here. I filled my truck last week for less than $40 @ 1.59, but that's gone back up a little looks like the next tank will be 1.79. |