Price collapse or 5 dollar gas…

Robert Dewey said:
With gas prices like this, I definitely won't be voting for a change. LOL
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About 6 months ago, i mentioned to my wife, let's see how gas prices are right before the election...

Now I'm curious as to how they'll be around Thanksgiving and Christmas.

Think they'll go back up?
 
Honestly, I doubt anyone would engineer a global economic meltdown with a corresponding drop of around 6,000 points in the stock market just to bring oil down to $70 a barrel for the sole reason of manipulating elections. :) That would certainly warrant a "YOU'RE DOING IT WRONG" award.
 
Doug Raflik said:
And I do not mind one bit since almost EVERY road is paved. Something I took for granted growing up, until I started going outside the state on non interstate roads.
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That's funny you mentioned that Doug as I thought the same thing. Though the road situation is likely due to climate up here as much as anything, I definitely took for granted that in MN roads are either asphalt or nice class 5 gravel. You can actually drive on the gravel roads up here as long as you don't let your speed get out of hand.
 
Ryan McGinnis said:
Honestly, I doubt anyone would engineer a global economic meltdown with a corresponding drop of around 6,000 points in the stock market just to bring oil down to $70 a barrel for the sole reason of manipulating elections. :) That would certainly warrant a "YOU'RE DOING IT WRONG" award.
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They cut production in the Middle East and what then happens? Prices go back up. I'm not saying that we have absolute control over them but they do have incentive to get a pro-oil man in the White House. Then they're guaranteed another 4 more years of non-interference.

It's good to be the king (of Saudi Arabia)!
 
Yea, and amen!

Shane Adams said:
As soon as this new free fall got established, what's the first thing you heard from OPEC? "We're cutting production."

OPEC making moves to control the price of gas isn't "the market" or "the economy" or "supply and demand"....it's simply us getting the shaft because they can get away with it. That's why I've never understood the "analysts" on ST who've always defended the price of gas.

The fall of gas prices, not the rise, is economy-based. Anyone else still not convinced the surge in fuel prices the past few years is directly related to the current state of the economy? I understand that people who spend money they don't have is much to do with it as well, but people have always done that (it's called "credit"). The distribution industry taking the initial hit (from OPEC gouging) started the domino chain. If your distribution cost doubles or triples, then you raise prices. Then consumers buy less, or switch brands, or go without, because they're basically working to pay for gas to get to work. Then your companies who are spending out the butt to pay for distro aren't seeing the return because Joe Consumer is sitting at home because all his shopping money is sitting in his gas tank. So nobody's buying, nobody's making money, and eventually, nobody wants that precious fuel as much.

So then OPEC must drop the price to increase demand = the economy. Once the demand is back up, and things are working well enough on both sides, they decide to get greedy again, cut production (manipulation), and price gouge = OPEC screwing us.

Prices have been over a dollar less then they were six months ago for the better part of a month, and the world isn't dying, OPEC isn't filing bankruptcy, there's no armageddon, and most importantly...gas is no less a commodity now than it was six months ago. It works fine, for everybody, at $2/gallon. OPEC greed makes it $3.50/4 per gallon, nothing more.
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I agree wholeheartedly....Shane Adams for President:cool:
 
Jerry Prsha said:
They cut production in the Middle East and what then happens? Prices go back up. I'm not saying that we have absolute control over them but they do have incentive to get a pro-oil man in the White House. Then they're guaranteed another 4 more years of non-interference.

It's good to be the king (of Saudi Arabia)!
Click to expand...

They cut production because the price went from $140 a barrel to $65 a barrel in three months after Recession Bear woke up, stumbled out of his cave with a hangover, and said "GET READDDDY FOR HUUUUUGE RECESSION! I'M TALKING RAMEN NOODLE TIME!" They cut production because they are (or at least try to be) a cartel, and cutting supply is what you do when you want prices to stay artificially inflated. I highly doubt they spent years convincing high finance banks to make stupid investments in the housing market so that they could crash the world economy just before the election, forcing oil prices down so far that some wondered if it would destabilize their governments, just to make a tank of gas cheaper so that an oil man could get elected in the American presidential race. Occam's razor just can't find a way to compute that one. :)
 
I filled up for $1.97/gallon in Norman late Saturday after the game. I had less than 1/4 tank left and filled up for less than $20. I can't remember the last time that happened.
 
The local gas stations here are down to $1.93, we sure could have used these prices back in May and June. I wonder how long these prices will last and if they will can hold until after the 2009 prime chase season.
 
It's down to $1.84 in Lubbock. On the road the other day I saw wildly ranging prices from as high as $2.65 in some small town to $1.89 average in others. Most of the smaller towns are still over $2.00. With oil down under $60 a barrel they will only go down more.
 
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