What's your take on oil/gas prices?

[McVaaahhh]

Following this phenomenal rise and fall in oil and gas prices, what do you think about it?


I think it's far from over and $150/barrel will happen again next summer.

I think that everyone who bought into that $2.99/gallon deal offered by Chrysler is wishing they had a little Vaseline cause they're getting f'ed.

I think I'm taking all of my money out of the stock market and burying it in a mayonnaise jar in my yard.

This is crazy.



P.S. I'm going to shoot the first person that mentions a president or administration (past or present)

[Snowman]

I saw $2.10 off of Parker yesterday.


What I think we should do is

• Dig a really big hole in your backyard.
• Drop a 20,000 gallon tank into it
• Fill the tank with gasoline.
• Install extra fuel tanks into our MFP V8 Interceptors and scavenge the wasteland.

[puckstr]

I saw $2.10 off of Parker yesterday.


What I think we should do is

• Dig a rally big hole in your backyard.
• Drop a 20,000 gallon tank into it
• Fill the tank with gasoline.
• Install extra fuel tanks into our MFP V8 Interceptors and scavenge the wasteland.

I wasn't even finished reading this and all I could think of was
Mad Max.

Go Goose Go

[BeoBe]

2 things.. 1 right after obama got president all gas prices here went up 10 cents

2. The govt. is shutting down over 1 million oil rigs in the US.. Not due to lack of production but because the govt wants the gas prices to go back up.. how messed up is that??

So enjoy it while it lasts cause its not gonna last long..

[64BonnieLass]

Uh oh.

[rforsythe]

More than likely if rigs are shutting down, it's a decision of OPEC, not the government per se.

Donna saw gas below $2.10 a couple days ago, and diesel is finally below $3 by my house.

[Snowman]

2 things.. 1 right after obama got president all gas prices here went up 10 cents

2. The govt. is shutting down over 1 million oil rigs in the US.. Not due to lack of production but because the govt wants the gas prices to go back up.. how messed up is that??

So enjoy it while it lasts cause its not gonna last long..

Hmm interesting, you got an article to back that up?
I know the OPEC dropped production levels to keep the price up there.

And what’s that?
I hear nothing about off shore drilling contracts from the oil companies.
I guess at $70.00 they can’t make enough to cover the costs of drilling.

[McVaaahhh]

Beobe

[McVaaahhh]

I heard there is a station in Metro Denver at $1.99

[64BonnieLass]

Beobe

See.....I knew it! LOL

I think we will see gas prices skyrocket again in the Spring/Summer. I have nothing to back this up, nor do I have any boob pictures. Just my .02.

[Nick_Ninja]

http://www.gasbuddy.com/

[Filo]

Macroeconomics - supply and demand. The whole world is experiencing a massive slow down, which implies less consumption, which means lower prices. All you folks who drive the 10-12 MPG cars stopped driving them, lowering demand, lowering price. OPEC and non OPEC producers are certainly going to manipulate supply to increase prices.

As an example of the global slowdown - Volvo in Europe sold 41970 heavy trucks third quarter 1 year ago. This year, same quarter - 115. (http://www.economist.com/finance/dis...TOKEN=80771718)


It has almost nothing to do with what Bush did, who won the election, or what Obama may do. Remember, petrol is a global commodity in a global marketplace. There are 5.7 billion other people who want fuel too.

Emerging and developed economies are contracting. Until the contraction is over, gas prices are going to continue to have downward pressures. I suspect that prices will hover in the $2.10-$2.50 range over the winter with a spike at Thanksgiving, then tend towards $3.00 in the spring. But what the hell do I know?

[puckstr]

Can't we just get gas from Venezuela?? Screw OPEC
I really do not care about what type of leader Chavez is.

Terri there is always room for boob pics.

[Devaclis]

2 things.. 1 right after obama got president all gas prices here went up 10 cents

2. The govt. is shutting down over 1 million oil rigs in the US.. Not due to lack of production but because the govt wants the gas prices to go back up.. how messed up is that??

So enjoy it while it lasts cause its not gonna last long..

How does that make any sense? really? Why would the government want prices to go up? So people would purchase less gas thus lowering the tax revenue generated from gas purchase? Makes total sense.

[rybo]

There is some function of supply and demand at play. Fall and winter are lower driving times than summer, so prices tend to fall by default this time of year. People conditioned themselves to drive less this summer because of high prices, and have retained those habits and on top of that the economy is down, so people are looking at spending less in general.

There is no way it's over. Oil is a limited commodity (artificially, but still limited) and as such the only direction for prices to go (long term) is up.

At 70 a bbl it isn't very cost effective to look at alternate oil producing technology (ie oil shale), but there are a lot of exploration / drilling projects that started over the summer that will continue, even if capped.

Net result...use less, pay less.

s
p.s. I just paid 2.06 a gallon here in Fort Lupton.

[Filo]

Can't we just get gas from Venezuela?? Screw OPEC

Sorry puckstr - Venezuela is part of OPEC.

Terri there is always room for boob pics.

I agree. I will post pictures of my boobs if you post pictures of yours, Teri.

[Snowman]

Rybo is right.
If you want to keep gas prices low use less of it. A demand less than the supply will mean lower prices. To keep the prices low however we need to have a different way of powering things.

Pickens plan seems very plausible to me, replacing gas powered fleet vehicles with natural gas and replacing the natural gas power plants with wind. Keeping more of the 700 billion a year we send over seas for oil in this county would also have a positive effect on jobs, incomes, taxes and purchasing.

I thinks it’s the one thing conservatives and liberals can buy in on.

[puckstr]

Sorry puckstr - Venezuela is part of OPEC.

Bummer

I agree. I will post pictures of my boobs if you post pictures of yours, Teri.

Agreed

So why can't we get gas from Venezuela.
Bush policy? He is gone Jan 20th.

So what is the reason we do not get gas from Venezula.

[Sortarican]

Enjoy it while it lasts.
As soon as world economies fire up again look forward to $4.00+ a gallon, then $5.00+ for the rest of your lives.

What happens when a 1/2 billion Chinese middle-class consumers all go out and buy cars?

Upside for Colorado short term and the U.S. long term is at $150+ a barrel a lot of alternative energy sources become viable.
The U.S. and Western Europe will probably lead the world in the technological advancement related to energy development.
Of course after 10 years of that we'll farm all the jobs out to the Third World to actually manufacture them
and we'll go back to just keeping the books and creating the advertising.

[Filo]

So why can't we get gas from Venezuela.
Bush policy? He is gone Jan 20th.

So what is the reason we do not get gas from Venezula.

I think we still do get gas from Venezuela. It was politically unpopular when Chavez started bashing the US. That was when 7-11 severed ties with Citgo, which is Venezuelan. I believe that Citgo still sells here though.

[Sortarican]

So what is the reason we do not get gas from Venezula.

We do. At least we did for a long time.

And why don't we get a better deal from Chavez now that Bush is leaving?
As you've pointed out Steve,
his name is Barack Hussein Obama II...not Barack Jesus Obama Dos.

[McVaaahhh]

Anybody think the recent drop in fuel prices will alter people's decisions about their consumption, or do you think the recent "green" changes people have made with $4/gallon gas are here to stay long term?

I'm kinda on the fence.

I think some people will go out and buy SUV's and such, but I think most people believe that the low prices are anything but temporary.

[Snowman]

The longer gas prices stay low the more people will slip back into wasting it. Remember the 70’s and how long it took until SUV’s hit the road.

I think this is a good time to buy that hybrid and buy stocks into alterative energy. As long as gas is low these items will fall in price and as soon as it goes back up you would be ahead of the game.

[Filo]

I think some people will go out and buy SUV's and such, but I think most people believe that the low prices are anything but temporary.

SUV prices are through the floor and for some reason people like them. I think we will see an uptick in SUV sales, but not for a few quarters because people are scared and some are unable to get financing. Of course, any SUV sales would be an uptick from now, so that isn't saying much. However, I think that many people will go back to SUVs because for most people it was a financial decision to drop them, not a "green" decision.