posted
I fueled up like 2 days ago and paid $3.879 per gallon. Then today...I drove by the local gas station and the same grade was $3.449. Anyone else see a big drop in fuel prices? I'm in the midwest btw. If so, why the drop in price? Glassman?
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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posted
yeah th drop has benn about the same here, but i think it may have happened over a period of about two weeks, not real fast...
it needs to get back down to 2.25 for economic growth IMO... all this yelling about hte Prez not creating jobs is hot wind... fuel costs are driving this economy.
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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posted
Oil prices have been heading south.....I didn't look yesterday but as of 2 days ago it was down to around $81 bucks a barrel.....It had been hovering either slightly above or below the century mark. IF it stays around 81 gas should come down significantly, but the price of oil has dropped so fast that I am not sure the decrease in gas prices is totally driven by the drop in oil prices......seems like there should be a greater lag in the pricing pipeline imo.
Agree with Glass, tho......energy costs more than anything else is what has the U.S. economy in a choke hold.
I read something interesting the other day and I paraphrase it here:
Historically, the U.S. had one thing going for it when it came to energy and that is that it had such an impact on the profits of oil companies, that companies had to react to lulls in the U.S. economy. For example, if the U.S. eoconomy was in the crapper Oil Companies would have to drop the cost of Oil as U.S. demand tapered. The drop in oil would would often relieve many of the economic conditions that had things crappy and hence our economy would improve. This is fast not becoming true any longer. Emerging countries (CHINA)are reaching a point where they offset our lack of demand in down economic times.....enabling Oil companies to keep prices high and thereby offering no relief by way of reduced energy costs.
-------------------- "The greatest argument against democracy is a five minute conversation with the average voter." (WC) Posts: 386 | From: Georgia | Registered: May 2009
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-------------------- Wise men learn more from fools than fools from the wise. Posts: 3827 | From: beautiful California | Registered: Sep 2008
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posted
Why dont we just purchase oil from our own producers, stop being a slave to the global market riddled with speculation, and work towards becoming energy independent? The problem is we currently import so much if we stopped we would have serious problems.
-------------------- It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so. Posts: 6949 | Registered: Apr 2004
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"Why dont we just purchase oil from our own producers, stop being a slave to the global market riddled with speculation, and work towards becoming energy independent? The problem is we currently import so much if we stopped we would have serious problems."
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I doubt that purchasing through our own producers would make any difference the way it stands these days.
It appears most of these oil producers/exporters work together, just not officially.
In fact i would take a pretty strong guess that our big oil companies make sure their part of the problem just not admitting to it.
There just not taking responsibility for it and hiding their part in it, just look at their profits no matter what happens anywhere in the world, they don't lack money from what i see quarter after quarter.
Sure must be nice to have everyone by the head when you own a business, you set the price and nobody can/won't do anything about it.
posted
those numbers look generous compared to most of the figures i've see jordan. From what i've seen,we import closer to 3/4 of all the oil we use. we already got all the easy to get oil in this country- we are very efficient at exploiting resources. All the oil stll left here will cost US more and more to get. There is alot of shale oil in the US, but we don't have a cost-efficient way to recover it yet. it will be some of the most expensive oil ever. Forget whether global warming or climate change are myth or fact, we WILL run out of oil, and we've already run out of cheap oil. That's why they are drilling in a mile of water in the Gulf already, that is not a cheap recovery system.
Even tho we have to subsidise it now, we have to begin to develop alternatives because if we don't, our children or theirs will be forced to, and it will cost them even more than it costs US to do it now, and cause them even more economic hardship if we don't attempt to develop a seamless way for them to move to newer technologies when this one is dead.
I hate it when i hear people blaming the Govt for US not having enough domestic supply. The oil co's would be drilling more here if they could make a buck off it. Anybody wonder why ANWR isn't on the political map anymore? Cuz they were never sure how much oil was really there and as they did more studies? The amount of oil kept getting less and less.
n 2010, the USGS revised an estimate of the oil in the National Petroleum Reserve–Alaska (NPRA), concluding that it contained approximately "896 million barrels of conventional, undiscovered oil".[27] The NPRA is west of ANWR. The reason for the decrease is because of new exploratory drilling, which showed that many areas that were believed to hold oil actually hold natural gas.
that was down from "advertised" estimates of as many as 16 billion barrels of recoverable oil.....
when they actually drilled? it just wasn't there...
1 billion barrels of oil is only 50 day of oil for the US at a consumption rate of 21 million barrels per day....
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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