GAS PRICES CONTINUE COLLAPSE

  • HndsmKansan

    Posts: 16311

    Oct 08, 2008 12:40 AM GMT
    Well all the economic turmoil, have you noticed oil prices? Didn't notice today, but I know they had fallen to under $90.00 per barrel, a far cry from the horrendous $150.00 just a few months ago. Suddenly summer's
    difficulities seem far removed as gas prices ease.

    Speaking of which.. we are in the $2.85- $2.89 range here in Wichita as of 10/7... its so nice to see gas back under $3.00 per gallon.
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    Oct 08, 2008 1:26 AM GMT
    This continues to amaze me . . . what dramatic change occurred to reduce these oil prices?

    Anyone wanna guess?
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    Oct 08, 2008 7:26 AM GMT
    B787 saidThis continues to amaze me . . . what dramatic change occurred to reduce these oil prices?

    Anyone wanna guess?


    Yeah we were being raped up thee ass to begin with, and Exxon, Shell and all the other big oil thought... hmmm the economy's in the shitter better not fuck these people over anymore then we have already.

    Basically it seems like they threw us a bone.icon_rolleyes.gif
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    Oct 08, 2008 8:28 AM GMT
    Read this article and listen to the NPR newscast: The Tyranny of Oil:
    http://www.npr.org/templates/story/story.php?storyId=95465269

    The enron loophole .. Phil Gram .. Commodity Futures Modernization Act .. ie deregulation
    http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000
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    Oct 08, 2008 1:14 PM GMT
    Hopefully even with lower prices the decline and death of SUV's and pickup's continues.

    We don't need < 20 mpg penis extensions as best sellers anymore.

    And while I'm dreaming perhaps Chrysler can make a model people want to buy for a chance.... A model that doesn't include a HEMI....
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    Oct 08, 2008 2:07 PM GMT
    It's sad. I almost wept with joy at the sight of $3.39 reg. unleaded last night. That's down a dollar from our local high last summer.
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    Oct 08, 2008 2:22 PM GMT
    Can someone please tell San Francisco!!! I'm just happy it's UNDER $4/gallon!!!!
  • Koaa2

    Posts: 1556

    Oct 08, 2008 2:26 PM GMT
    B787 saidThis continues to amaze me . . . what dramatic change occurred to reduce these oil prices?

    Anyone wanna guess?


    I'll guess, we are 4 weeks before a major election, and the Republicans, and their friends, are pulling out all the stops to soothe the voters in anyway they can, and this is one of them.
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    Oct 08, 2008 2:28 PM GMT
    Sean_85 saidhmmm the economy's in the shitter better not fuck these people over anymore then we have already.


    Uhm... I don't think that's exactly how the global oil market works.

    Also, now that oil's back to being cheap, it's time we all started buying SUVs again. Fuggin' forget about those gay electric cars and wind farms!
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    Oct 08, 2008 2:48 PM GMT
    easy now, not all of us SUV drivers are horrible...

    ** My 3 year old Xterra has 31,000 miles on it. I only drive when necessary; prefer to walk, bicycle, or take bus or light rail

    ** My truck gets 20mpg. I rent cars often for work and check the fuel efficiency and .... so far my "gas guzzling" SUV sips gas better than the Mercury Grand Marquis sedan, Chevy Malibu sedan, and the Ford Fusion sedan. (I've noticed that the US sedans are much less fuel efficient than foreign-made ones)

    That said, the next time I'm due for a fill-up (probably in about 2 weeks) I'll be happy to get a cheaper tank of gas!!
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    Oct 08, 2008 2:57 PM GMT
    a1972guy saidCan someone please tell San Francisco!!! I'm just happy it's UNDER $4/gallon!!!!


    SRSLY! The lowest I've seen here in SF for regular is $3.68!
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    Oct 08, 2008 3:04 PM GMT
    I know you were being sarcastic there, and I love sarcasm.

    Yeah, it's down to $3.59 in the Chicago burbs.
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    Oct 08, 2008 3:09 PM GMT
    COJock1974 saideasy now, not all of us SUV drivers are horrible...


    Not really what I meant. FWIW, there's an SUV in our stable, so if I'm implying you're horrible, I'm putting myself in the same boat. icon_smile.gif

    Remember when gas prices shot up three or four years ago, and everyone decided they were going to move towards more efficient cars? Then, prices dropped for a few years, and it was Tahoes all 'round. We're in a similar position now.

    People tend to see short-term peaks and valleys without recognizing the long-term trending. Oil prices may be down a bit right now, but supply and demand will force a permanent increase in prices. My fear is that, as soon as some pain at the pump is alleviated, the urgency and short-term business case for increasing fuel economy will disappear. No progress will be made, next roller coaster peak will freak everyone out, etc. etc.
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    Oct 08, 2008 3:13 PM GMT
    The fall in gas prices probably has to do with the general fall in commodity prices. Delusions of conspiracies lack evidence.
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    Oct 08, 2008 3:16 PM GMT
    Good news - price of gas is falling;

    Bad news - this is mainly because economies around the world are heading for a potential deep recession. Some of my retirement mutual funds are getting hammered because the Toronto Stock Exchange is heavily weighted to energy stocks. Fortunately retirement is not in the near future for me.
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    Oct 08, 2008 3:23 PM GMT
    When you consider the price increases of real estate, cars, and other items during say - the past 30 years, then gasoline should be higher, actually. Consider for a moment that gasoline was approx. .75 cents a gallon in 1978. It is now less than 5 times that amount.

    A new car in 1978 - say a Mercedes 450SL was approx. $25,000. Is the comparable car today more than $125,000?

    A typical California tract house in 1978 was selling at approx. $88,000. If we consider the "5 times" rule that house would now be $440,000. In reality that house is approx. $1,050,000.

    We're all lucky gas, cars, groceries, most all other items have not increased as fast as real estate in California.
  • Koaa2

    Posts: 1556

    Oct 08, 2008 3:33 PM GMT
    geras saidThe fall in gas prices probably has to do with the general fall in commodity prices. Delusions of conspiracies lack evidence.


    Ya right, I bet the Bushes, Cheney and the Saudis have been talking a lot lately!
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    Oct 08, 2008 3:55 PM GMT
    Trance24 saidHopefully even with lower prices the decline and death of SUV's and pickup's continues.

    We don't need < 20 mpg penis extensions as best sellers anymore.

    And while I'm dreaming perhaps Chrysler can make a model people want to buy for a chance.... A model that doesn't include a HEMI....


    Ugh thank god somebody said that. Chrysler cars are so fu*king ugly... there like boxes on wheels.. Are the afraid of curves?

    I think SUV's are still dunzo.. people are still weary that the prices will spike again.
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    Oct 08, 2008 4:10 PM GMT
    $2.89/gal is pretty darn cheap compared to the rest of the country. I just saw $3.49/gal this morning on my way to the gym here in Vancouver, WA USA (near Portland, OR).