Gas Prices

[JayG]

Originally Posted by Slate 01

The US economy has continued to go up? What planet has that occurred on? Wow. Please read my moniker at the bottom

Planet earth!

Keep on listening to Rush, everything he says is the complete unequivocal truth 100% based on facts

[kk2002s]

Here in NJ 93 oct. is running mid $2.00's. Certainly better than the $3.85 I paid in the spring
The speculation association to oil kinda kills the supply and demand capitalism mentality. Why conserve if gas prices still go up?
Higher fuel costs effect so many things here in the US due to Freight cost, farming cost, ect.
Higher fuel costs do drive better fuel efficient cars and that's not such a bad thing
Problem with US fuel tax, government spends it on everything except what it's for - Maintaining the infrastructure. Currently the DOT is broke and can't fix what is broken

To the majority of consumers, If I have to drive 200 miles/week well I have to buy 200 miles of gas regardless of $$ and there aren't many alternatives

Well that's my 2 cents or .008 gals
Up from .0052 gal in the spring

[Timco]

Originally Posted by JayG

Planet earth!

Keep on listening to Rush, everything he says is the complete unequivocal truth 100% based on facts

Not as reliable as the No Spin Zone!

[Giller]

Originally Posted by Slate 01

The US economy has continued to go up? What planet has that occurred on? Wow. Please read my moniker at the bottom

Um, little place called Planet Earth. The information I get comes through my place of work (one of the worlds largest investment companies) and while I don't profess to be an expert - the US economy has grown fairly steadily since '09. Nothing crazy, but small, modest gains, putting it back in place as one of the worlds best. Heck, I can see it just by looking at my own personal stock portfolio!

[Fintro11]

Originally Posted by Nine8Six

Wouldn't complain, dearest American friends (you lucky buggers....)

Here, lost track of the exact /gal price but it cost between $70~75 to fill up the 986. I get the feeling that its double than in the USA :/

Same here in Canada, even with tax free gas it ends up being 55 - 60 to fill her up

[JayG]

Originally Posted by Timco

Not as reliable as the No Spin Zone!

they drink the same kool aid as Rush and are just as good in creating facts to suit their needs

[Porsche9]

Originally Posted by Giller

Um, little place called Planet Earth. The information I get comes through my place of work (one of the worlds largest investment companies) and while I don't profess to be an expert - the US economy has grown fairly steadily since '09. Nothing crazy, but small, modest gains, putting it back in place as one of the worlds best. Heck, I can see it just by looking at my own personal stock portfolio!

Wall Street is doing great. Heck, I see that in my portfolio too. Main Street not so much. I can tell you wages have not been of the trajectory they once were for the average wage earner. I'm the head of compensation and benefits at my company and there have been many years of no raises and in the years were there have been raises they are been very meager averaging around 2.5%. Well below historical averages. The big winners of this have been stock holders as companies recovered and were able to keep wage growth down.

The big drop in gas prices is the biggest equivilent to a raise that Main St has seen in years and hopefully is the final push to get the overall economy benefiting almost everyone and not just a few.

[BIGJake111]

So will the prices stay? Or is this just the eye of the storm?

[SoCalBlackbox]

Originally Posted by Porsche9

Huh? Born and raised in SoCal. I have no idea what you are talking about.

There was a bill called AB32 pushed through by that great actor, governor and environmentalist Arnold Schwarzenegger and his best buddy Fabian Nunez. The tax could be as low as 15 cents a gallon. Not too bad right now but you never know where gas prices will go. The idea was to raise prices so people would drive less creating less green house gasses and lowering the global temperature as much as .01 of a degree. A couple of coal fired plants in China could alter that outcome, we will see. I'm not rushing out to after Christmas sales to stock up on warm clothing

The 80 cents a gallon was from another opinion, seems like no body knows for sure.

Read here.
Jan. 1, 2015 Gas Goes Up 15 Cents a Gallon

[randy7601]

I'm loving the lower gas prices. But I don't alter my driving based on the gas price. My Boxster is my Daily Driver.

[Timco]

Originally Posted by JayG

they drink the same kool aid as Rush and are just as good in creating facts to suit their needs

Absolutely correct. Can't stand those "bloviating" talking heads.....

I'll stick to FOX news......Fair & balanced.

[Joe B]

Originally Posted by Timco

Absolutely correct. Can't stand those "bloviating" talking heads.....

I'll stick to FOX news......Fair & balanced.

Does anyone with the slightest shred of intelligence actually listen to that crap ? And now Colbert is no longer around to help make fun of their drivel :ah:.

[kk2002s]

Originally Posted by BIGJake111

So will the prices stay? Or is this just the eye of the storm?

The more realistic question is how long will prices remain at these lows
At some point speculators are going to start buying low and that will drive up speculated oil prices
Or OPEC will either slow down production or there will be rumors of it and that will drive up speculated oil prices

The eye of storm is if we don't treat oil as the diminishing and environmentally harmful (when burned) resource that it is.
Higher prices keep us honest about using it and drives the industries dependent on it to develop more efficient methods of using it

It's the profiteers of oil profit margins and governments that can't redirect their taxes to alternatives that is going to help speed up the storm

Can I get an Amen

[Giller]

Originally Posted by kk2002s

The more realistic question is how long will prices remain at these lows
At some point speculators are going to start buying low and that will drive up speculated oil prices
Or OPEC will either slow down production or there will be rumors of it and that will drive up speculated oil prices

The eye of storm is if we don't treat oil as the diminishing and environmentally harmful (when burned) resource that it is.
Higher prices keep us honest about using it and drives the industries dependent on it to develop more efficient methods of using it

It's the profiteers of oil profit margins and governments that can't redirect their taxes to alternatives that is going to help speed up the storm

Can I get an Amen

One thing about OPEC - they do not have the same power they once had. With the amount of oil being produced by non-opec countries (Notably the US and Canada), it has taken away opecs clout. As well - demand in the past number of years has continued to drop in relation to production. If this continues....prices should remain fairly steady.

The challenge of course is it costs a lot more to produce and get oil in the US and Canada. With low oil prices, it's not as profitable in the US and Canada to get the oil from the ground, so they will slow production, which will raise prices (less supply = higher prices). It's a tough cycle.

[Porsche9]

Originally Posted by kk2002s

At some point speculators are going to start buying low and that will drive up speculated oil prices

I say if you can't beat them join them. Try the U.S Oil Fund (USO).

[Perfectlap]

Originally Posted by Giller

One thing about OPEC - they do not have the same power they once had. With the amount of oil being produced by non-opec countries (Notably the US and Canada), it has taken away opecs clout. As well - demand in the past number of years has continued to drop in relation to production. If this continues....prices should remain fairly steady.

The challenge of course is it costs a lot more to produce and get oil in the US and Canada. With low oil prices, it's not as profitable in the US and Canada to get the oil from the ground, so they will slow production, which will raise prices (less supply = higher prices). It's a tough cycle.

yes but OPEC states like Saudi Arabia have enough in their sovereign wealth funds to move their production up or down, even by as much as 1-2 million barrels a day, and still pay the light bill. So they have some cards up their sleeves too.
Also, and mark my words, when oil prices move up again they will do so in a hurry.
Just like production has branched out to more players so too have the speculators with no shortage of play money. And volatility is the flavor that speculators love most. Neither consumption nor production has fallen by the extremes reflected in the current price action. In other words someone is making a ton of money right now. This might be the only time where Wall Street and Main Street both ended up with some new caysh in their pockets.

US GDP grew by 5% July - Sept....
U.S. GDP Gathers Steam - Businessweek

[JayG]

Originally Posted by Joe B

Does anyone with the slightest shred of intelligence actually listen to that crap ? And now Colbert is no longer around to help make fun of their drivel :ah:.

+1, you got that right

[Timco]

Originally Posted by JayG

+1, you got that right

The key is to belong to your party of choice, make a difference, vote, and not get caught up with the talking heads just whining about the other side. I pretty conservative yet can't stand Bill or Ann or Rush. (Or Obama...)

[Cebu]

I just rode from Northern California to New Orleans and notice the price of gas decrease the further I drove away from home, I took the I-40 route. I'll be leaving this weekend back to Northern California and plan on taking the I-10 route, I'll see how the prices differ. I thought about taking my Beater Boxster but since the seats can't recline all the way back for rest stops I took my other vert (BMW 330ci).