Look forward to $2.00 gas later this year

[Omegaman 3.0]

I seriously doubt that Gasoline prices will drop to $2 a gallon, certainly not in my state anyway.

 

Gasoline prices are set, by the way, primarily based on commodities market speculator. Fuel is sold on a worldwide auction basically, with the bidders bidding higher, based on their confidence that retail prices will also be higher. Of course, retail prices are dictated to a large degree, by supply and demand.

 

If you flood the market with fuel so that the supply is ahead of the demand, then prices will drop. Here in the united states, we do two thing to keep the fuel cost high.

 

One, we restrict the amount of fuel that we produce domestically, and insist on using foreign oil instead. 

 

Two, we use fuel in huge amounts personally, which tends to lower the supply. I do not see either of those things changing much in the future.

[missmuffet]

 

 

Two dollar a gallon gas won't help much when we see that mushroom cloud going up. (just a thought)

 

Oldzimm

That is debatable if those who are pre-trib will see that.....maybe.

 

 

 

Wait, are you suggesting that if there is a pre-tribulation rapture, that pre-tribbers will go in it, but others won't?

 

Is this pertaining to my statement?Where do you get from me the statement that people who are not pre-trib believers will not go in the rapture?

[1x1is1]

I hope it's not I need the price per gallon to go up...some of us in the oil industry need to feed our families...

 

Well I hope that it goes to under $2.00 for you folks.  I used to commute 102 miles per day until I retired 3 years ago.  Now a tank of gas can easily last me a month, depending on how demanding my grand-kids are needing to go here and there.

 

Patriot, I hope that you are in the transportation division of the oil business.  There is always a demand for drivers in the freight or food industry until things arrive back to their standard pricing.

 

MorningGlory,  if things are headed in that direction, you will see it first hand before any of us in here.  Please keep us informed.

[other one]

Prices this morning range from $2.39 for E-10 to $2.65 for no alcohol.  In Oklahoma it wouldn't really take that much to get to $2.00.

 

We produce oil here in Oklahoma, so we have mixed emotions about cheap gas.....   if it goes down and stays, our tax structure will have to be changed for the state makes a lot of income from the oil sales...

 

If it gets back to  $1.50 where it was when we bought the Winnebago, maybe we can justify taking it on long trips again.

[MorningGlory]

 

I hope it's not I need the price per gallon to go up...some of us in the oil industry need to feed our families...

 

Well I hope that it goes to under $2.00 for you folks.  I used to commute 102 miles per day until I retired 3 years ago.  Now a tank of gas can easily last me a month, depending on how demanding my grand-kids are needing to go here and there.

 

Patriot, I hope that you are in the transportation division of the oil business.  There is always a demand for drivers in the freight or food industry until things arrive back to their standard pricing.

 

MorningGlory,  if things are headed in that direction, you will see it first hand before any of us in here.  Please keep us informed.

 

 

I definitely will.  Being so close to the fire,, so to speak, has those of us in the industry feeling the heat.  My company has laid off thousands.  Deep sea drilling has slowed way down.  A lot of the small oilfield equipment companies have either closed down or cut their staffs to the bone. 

[MorningGlory]

 

 

actually, we never really got our oil from the middle east, most of it in the past came from venezuala and canada-same true today.

 

My company has their headquarters in Dubai so I'm not sure if we're getting oil from the M.E.  We're doing SOMETHING over there.  It's not looking good though; oil companies are laying off big time in Texas and Louisiana.  Including my own.  We're nervous.  You said you were in oil, Patriot.  What do you do?

 

Pat is an oil sheik of course.Right Pat?

 

 

Another of his multiple identities!  I KNEW it! 

[udx]

Be careful what you wish for. Usually low oil prices foreshadow economic recession. I believe global financial collapse is due within a year.

[The_Patriot21]

actually, we never really got our oil from the middle east, most of it in the past came from venezuala and canada-same true today.

 

My company has their headquarters in Dubai so I'm not sure if we're getting oil from the M.E.  We're doing SOMETHING over there.  It's not looking good though; oil companies are laying off big time in Texas and Louisiana.  Including my own.  We're nervous.  You said you were in oil, Patriot.  What do you do?

I drive truck, a good portion of my work the last years has been hauling water for tracking. I haul other materials for other industry's in my area as well, but most of our economy where I'm at is driven by coal and oil-if they suffer everything suffers.

[MorningGlory]

 

 

actually, we never really got our oil from the middle east, most of it in the past came from venezuala and canada-same true today.

 

My company has their headquarters in Dubai so I'm not sure if we're getting oil from the M.E.  We're doing SOMETHING over there.  It's not looking good though; oil companies are laying off big time in Texas and Louisiana.  Including my own.  We're nervous.  You said you were in oil, Patriot.  What do you do?

I drive truck, a good portion of my work the last years has been hauling water for tracking. I haul other materials for other industry's in my area as well, but most of our economy where I'm at is driven by coal and oil-if they suffer everything suffers.

 

 

It used to be that way here too but Texas, and Houston, have diversified a lot.  The oil industry is rumbling and more constricting is expected.  In a way low gas prices help the economy overall but I work for Halliburton; no diversity here.