Oil finished down today at $90.62 and wholesale gasoline closed at $2.2757 a gallon. I hope it is a long term trend.
Oil and gas prices dropping
- Thread starter ALS
- Start date
- Status
we can hope.
Or find alt fuel while we are it.
Or find alt fuel while we are it.
Good...till they go back up again.
funny..I don't see gas prices dropping. A convenient and profitable game to always raise, but seldom lower.
Don't bet on it. Demand will go up as prices drops..more demand..inventory drops..price goes up.
China/India are building roads like crazy. And for some strange reason their people like to buy cars and ride on them.
China/India are building roads like crazy. And for some strange reason their people like to buy cars and ride on them.
Last edited:
It's "the man's" way of making you THINK it's cheaper. Drop is a little lower than the highs were for a month or two, then start slowly cranking them back up. But, the dollar is starting to gain strength against the euro and yen. I think it's making OPEC a little nervous as they are thinking about going to euros.
I agree with Ted s, I think its a attempt to restart and save the economy. Alot of countries and companies, love us or hate us, depend on our economy. More people spend on gas, the less they have to spend on anything else. Maybe finaaly they can see they can lower the price and some people will buy more gas and others will buy more other stuff with what they would have had to pay on gas and everbody makes money and is happy. Maybe I dont get it, but all I hear is conserve, conserve, and that doesnt seem like a way for a super power to grow, if you conserve water on a plant it may survive but thats it, water it all its wants and it grows. Iam happy to see that Shell is finnally going to build a new oil refinery that will double current production, I think this whole hybrid thing is going to blow over, call me a idiot, but I seen the same thing in the late 70s when the chrysler K car came out, its a save the planet fad. Theres alot of oil and coal, why should we let China have it all because we want to be planet friendly, we are on the same planet right. They have to think we are idiots, Al Gore is probably on their payroll.
Originally Posted By: Panzerman
Maybe I dont get it, but all I hear is conserve, conserve, and that doesnt seem like a way for a super power to grow,
The only way for us (a "super power") to grow is to import less oil. Our imports and especially our importing of oil is breaking the bank. We are broke.
The trends over the last 30+ years has shown that every time we have an opportunity to reduce demand by building more efficient houses and cars. But we immediately build larger houses and forsake the fuel efficient cars for gas guzzlers. We absorb all energy available to us. We have passed the point where we can develop more energy and really no more is available for us anywhere.
There will be conservation here..come [censored] or high water. Not for all, but the reality is that more people will be using less energy. There are no choices.
Maybe I dont get it, but all I hear is conserve, conserve, and that doesnt seem like a way for a super power to grow,
The only way for us (a "super power") to grow is to import less oil. Our imports and especially our importing of oil is breaking the bank. We are broke.
The trends over the last 30+ years has shown that every time we have an opportunity to reduce demand by building more efficient houses and cars. But we immediately build larger houses and forsake the fuel efficient cars for gas guzzlers. We absorb all energy available to us. We have passed the point where we can develop more energy and really no more is available for us anywhere.
There will be conservation here..come [censored] or high water. Not for all, but the reality is that more people will be using less energy. There are no choices.
Last edited:
If we import less oil that will hurt Canada though. That is where the US imports most of it's oil from after all. After that it is Mexico. But hey, maybe Mexico could lower it's prices for us, since half of them now live here illegally anyway. We only import 8% of our oil from Saudi Arabia, and I really wonder if that is just as a a courtesy to Bush's friends over there.
I don't see any drop in price up here. Diesel fuel in downtown Boston was $4.09/GALLON today. First time I've a 4 on a pump except for the movies. For you people that think its temporary... well its NOT. Up a dime, down a nickel, back up another dime. When was the last time there was an anouncement of a large oil discovery ?? Peak Oil has arrived and if you want more info, click on link... go to Basics and click Discoveries. This site is a good primer if you've not heard of peak oil. Peak Oil sucks... and its goona keep om suckin' on our wallets.
http://www.wolfatthedoor.org.uk/
http://www.wolfatthedoor.org.uk/
imo, the higher prices are, the LESS development overseas to compete for the same resources in the future. Pay more now, or pay way more later.
Got back into the $80's this morning.
Wonder if it will keep falling?
If demand continues to drop slightly prices will be able to fall, but since this is a inelastic market if demand increases prices rise very rapidly.
Wonder if it will keep falling?
If demand continues to drop slightly prices will be able to fall, but since this is a inelastic market if demand increases prices rise very rapidly.
I do'nt post here much but I read around once in a while.
About running out of resources, that is in my opinion a false opinion based on gov't and large corp misinformation.
Here's why I say that, I retired from the military 2 years ago and spent plenty of time in the middle east, kuwait, iraq, saudia arabia. From what I've seen, there is more energy wasted in blowing off methane or oil type gasses (not sure exactly what gas it is) in giant 200' to 400' stacks that look like gigantic candles than anybody can imagine. We literally had to fly night missions without night vision goggles because we would be blinded if left on. The stacks dot the landscape all over the middle eastern oil fields and I'm not talking small flames. There were literally lakes of black crude oil remaining from the first gulf war still around for quite some time afterward but now most of it has seeped into the ground. The media, oil companies, governments around the world want us to think everything is at max, well its not. Especially when there is that much wasted.
In our own country, there are capped off wells all over the contry, both oil and natural gas. I know. My grandfather had a couple small well pumps going for years (the see-saw/ teeter totter type) that produced a steady flow for years, not much by big company standards, but a truck load a week or so. When oil prices were in the toilet (mid to low teens) in the mid-late 90's, his buyers asked him to shut them down. He refused and they offered to buy his property with the mineral rights. He refused. Next thing he knew was he could not get anybody to buy his oil, he effectively got blacklisted and could not get anybody to buy a drop up to the day he passed away. The property has since been purchased by other family members with the hopes of someday it may be usefull again. Nobody has yet to be able to get buyers, they get plenty of offers to sell the mineral rights, but not the oil.
My thoughts and opinions are that this is not an isolated case, is is simply a method to push all the little mom and pop well owners, without any big corporate influence, out of the market. If they can cause them serious financial hardship, maybe the mom and pop owners would sell out for cheap. This leaves the corporate oil producers with a lot of untapped resources and high prices in the market.
The point is, big companies and governments around the world do not want to produce any more. They want the prices to go up untill they find the magic price that has a delicate balance where consumption does not fall and the economey does not collapse.
If you think alternative energy is an answer, think again.
Our own government does everything it can to squash big projects that would make a difference. Look at wind power. There are battles going on all over the country about putting up wind farms, on federal or state land or even private land or offshore on small islands and at sea. Senator Kennedy will be the first one to blame Bush for not wanting alternative energy sources when he is the only one that does not want that huge wind farm offshore in his favorite sailing waters. In my own backyard, a local guy was collecting waste fryer oil to filter and run in his old diesel car. The local government shut him down and fined him substantially, then of course the state stepped in and slapped a huge fine on him for avoiding road taxes and performing industrial processes without a state permit!!!! It was for his own use, not for resale!! Where was the newly elected, alternate fuel friendly, governor Spitzer? He certainly did'nt chime in.
I personally want to build a small bio diesel fuel facility, for wholesale fuel production, on my own agricultural zoned land. Do you think I can get anybody above the township officials on board? Nope! Red tape kills it all and the "system" is not designed for somebody to build a small facility that would only produce 500K - 1M gallons a year. If the Rockeffellers wanted to build a bio-diesel plant to produce 100M per year I think it would not present much of a problem (IMO).
Sorry for ranting on, now I feel better.
Whats the answer? I have no idea!
About running out of resources, that is in my opinion a false opinion based on gov't and large corp misinformation.
Here's why I say that, I retired from the military 2 years ago and spent plenty of time in the middle east, kuwait, iraq, saudia arabia. From what I've seen, there is more energy wasted in blowing off methane or oil type gasses (not sure exactly what gas it is) in giant 200' to 400' stacks that look like gigantic candles than anybody can imagine. We literally had to fly night missions without night vision goggles because we would be blinded if left on. The stacks dot the landscape all over the middle eastern oil fields and I'm not talking small flames. There were literally lakes of black crude oil remaining from the first gulf war still around for quite some time afterward but now most of it has seeped into the ground. The media, oil companies, governments around the world want us to think everything is at max, well its not. Especially when there is that much wasted.
In our own country, there are capped off wells all over the contry, both oil and natural gas. I know. My grandfather had a couple small well pumps going for years (the see-saw/ teeter totter type) that produced a steady flow for years, not much by big company standards, but a truck load a week or so. When oil prices were in the toilet (mid to low teens) in the mid-late 90's, his buyers asked him to shut them down. He refused and they offered to buy his property with the mineral rights. He refused. Next thing he knew was he could not get anybody to buy his oil, he effectively got blacklisted and could not get anybody to buy a drop up to the day he passed away. The property has since been purchased by other family members with the hopes of someday it may be usefull again. Nobody has yet to be able to get buyers, they get plenty of offers to sell the mineral rights, but not the oil.
My thoughts and opinions are that this is not an isolated case, is is simply a method to push all the little mom and pop well owners, without any big corporate influence, out of the market. If they can cause them serious financial hardship, maybe the mom and pop owners would sell out for cheap. This leaves the corporate oil producers with a lot of untapped resources and high prices in the market.
The point is, big companies and governments around the world do not want to produce any more. They want the prices to go up untill they find the magic price that has a delicate balance where consumption does not fall and the economey does not collapse.
If you think alternative energy is an answer, think again.
Our own government does everything it can to squash big projects that would make a difference. Look at wind power. There are battles going on all over the country about putting up wind farms, on federal or state land or even private land or offshore on small islands and at sea. Senator Kennedy will be the first one to blame Bush for not wanting alternative energy sources when he is the only one that does not want that huge wind farm offshore in his favorite sailing waters. In my own backyard, a local guy was collecting waste fryer oil to filter and run in his old diesel car. The local government shut him down and fined him substantially, then of course the state stepped in and slapped a huge fine on him for avoiding road taxes and performing industrial processes without a state permit!!!! It was for his own use, not for resale!! Where was the newly elected, alternate fuel friendly, governor Spitzer? He certainly did'nt chime in.
I personally want to build a small bio diesel fuel facility, for wholesale fuel production, on my own agricultural zoned land. Do you think I can get anybody above the township officials on board? Nope! Red tape kills it all and the "system" is not designed for somebody to build a small facility that would only produce 500K - 1M gallons a year. If the Rockeffellers wanted to build a bio-diesel plant to produce 100M per year I think it would not present much of a problem (IMO).
Sorry for ranting on, now I feel better.
Whats the answer? I have no idea!
I agree with you somewhat. I think there is no shortage of oil and I think they waste more energy trying to save energy. Gasoline is it, its the most power and fuel efficent means of powering a car-period. All these alternate fuel sources such as Gasahol, all they are going to do is drive food prices up and then cause a water shortage. Iam from PA and you are right about big companies buying up the oil fields and small oil wells and then just capping them, they are doing it like crazy with natural gas to in PA. Not to mention all the oil off the coast of Florida that the U.S has. When I was in Grade school, they were talking about using all the worldwide oil up first and using our oil when it was exhausted, this was 30 years ago and I think they are doing just that.
Don't get me going on gasahol. From what I've experienced, 10% ethanol in gasoline, increases my fuel consumption about 15% in my two Dodge trucks and a touch more than 10% in my subcompact.
Remove all forms of alcohol from gasolines, backdate refinery technology to make highly efficient gasoline to burn more efficiently instead of cleaner (we will end up using a lot less gas and thus conserving. Modern emmisions and computer controls will burn the gasoline to the lowest levels of harmful emmissions so forget the reformulations....
.....Oil of the coast of Florida !!! My gosh! We won't allow our own home grown oil companies to drill there (in international waters)but the chineese, mexicans and a few others are allowed to no problem.
Americans are sheep, wolves are not our problem, our own sheep dogs are eating us.....
Remove all forms of alcohol from gasolines, backdate refinery technology to make highly efficient gasoline to burn more efficiently instead of cleaner (we will end up using a lot less gas and thus conserving. Modern emmisions and computer controls will burn the gasoline to the lowest levels of harmful emmissions so forget the reformulations....
.....Oil of the coast of Florida !!! My gosh! We won't allow our own home grown oil companies to drill there (in international waters)but the chineese, mexicans and a few others are allowed to no problem.
Americans are sheep, wolves are not our problem, our own sheep dogs are eating us.....
FUELMAN,
Thanks for your service! What you saw is what we term "flare-off". These are deadly gases, present in the stream, that are best vented and burned for safteys' sake. Also, natural gas is present in some streams, but it may be unprofitable to capture and liquify for transport so its just flared. You were in an area that produces 12.5 million barrels (42 GALS. each)per day so you saw lots of stuff that would lead to think there is plenty, but unfortunately, there is no other place on this sphere like it.
Thanks for your service! What you saw is what we term "flare-off". These are deadly gases, present in the stream, that are best vented and burned for safteys' sake. Also, natural gas is present in some streams, but it may be unprofitable to capture and liquify for transport so its just flared. You were in an area that produces 12.5 million barrels (42 GALS. each)per day so you saw lots of stuff that would lead to think there is plenty, but unfortunately, there is no other place on this sphere like it.
- Status
Similar threads
