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#4216 |
Someone pass the antifreeze
Join Date: Oct 2005
Location: Miami (North Cuba)
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Posts: 15,778
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#4217 |
WE ARE THE CHAMPIONS
Join Date: Aug 2000
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Looks like there's one place near me that has it for $3.15 a gallon. That's pretty good for suburban Chicago.
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Posts: 119,567
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#4218 |
A certain set of skills
Join Date: Dec 2003
Location: texas
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Hi everybody,
I've asked Donger to explain why gas prices are so cheap now and the main contributing factors for this. Professor Donger will be along shortly. |
Posts: 25,265
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#4219 |
In Search of a Life
Join Date: Jan 2004
Location: San Antonio Tx.
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It's fallen below $3 in my area. I've seen it as low as 2.89 in the past few days.
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Posts: 66,914
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#4220 |
"Think BOOM!"
Join Date: Nov 2003
Location: 33.675° N 106.475° W
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Gasoline is "cheap" right now because crude is relatively low. ($94.35/barrel).
Crude has been dropping for a number of reasons: 1) Very strong supply, especially because of our increased domestic production 2) Things are cooling down in the Middle East (Syria, Iran and Egypt). 3) Weak demand. We are still using ~4% less gasoline than we were a few years ago. |
Posts: 182,263
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#4221 | |
Rockin' yer FACE OFF!
Join Date: Feb 2003
Location: Omaha, Nebraska
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Quote:
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Posts: 25,872
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#4222 |
"Think BOOM!"
Join Date: Nov 2003
Location: 33.675° N 106.475° W
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Posts: 182,263
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#4223 |
Rockin' yer FACE OFF!
Join Date: Feb 2003
Location: Omaha, Nebraska
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Posts: 25,872
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#4224 |
A certain set of skills
Join Date: Dec 2003
Location: texas
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2.77 in KC.
Donger with the Marcellus fields, the Permians and the Bakkens all showing huge quantities of vitrtually untapped oil can you see our dependency on foreign oil dropping in half in another year or two and Arab countries going in panic mode? |
Posts: 25,265
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#4225 |
"Think BOOM!"
Join Date: Nov 2003
Location: 33.675° N 106.475° W
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Yes, we control domestic production, but it shouldn't be forgotten that the increase has come to fruition BECAUSE of high crude prices.
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Posts: 182,263
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#4226 |
A certain set of skills
Join Date: Dec 2003
Location: texas
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Another thought Donger, one in which I will let you give your thoughts and opinion is that with Obama not okaying the pipeline from Canada through the U.S. he may have in fact allowed the cause of so much drilling lately domestically and mistakenly helped America not hurt it.
What do you think? |
Posts: 25,265
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#4227 | |
"Think BOOM!"
Join Date: Nov 2003
Location: 33.675° N 106.475° W
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So, no, I don't see it dropping by half in a year or two. |
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Posts: 182,263
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#4228 | |
"Think BOOM!"
Join Date: Nov 2003
Location: 33.675° N 106.475° W
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Quote:
If crude drops to $60 or $70, you'll see a lot of that increased domestic production grind to a halt. |
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Posts: 182,263
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#4229 | |
A certain set of skills
Join Date: Dec 2003
Location: texas
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Quote:
Wouldn't oil be cheaper to drill in the U.S. ? Importing oil from halfway around the globe who have to be much more expensive. I don't understand. |
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Posts: 25,265
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#4230 |
Supporter
Join Date: Sep 2000
Location: Hollywood, CA
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Posts: 88,960
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