Some Saturday Night Good News... Gas has dropped 20 cents

here on the western border of Iowa since Thursday. I have never seen it drop like that in ages.. It usually goes up that fast and then inches down by a penny or two over weeks and weeks.

WOO HOO

Here in the south suburbs of Chicago.

Yes, usually it goes up by nickels and dimes and down by pennies.

it will keep food prices down.

Proving to Obama once and for all who is really in charge.

But yes, it is a cascade of political and business reaction.

I would say prices originally rose due the unrest in the middle east/Lybia - hey - it's as good as an excuse as Big Oil Corp. is going to get.

Then the talk about cutting subsidies got real when it was realized that hey, oil flow did not really stop, or even slow down, you guys are just speculating if not outright gouging.

The price kept going up and the subsidies talk kept getting louder.

Now I think they get the message.

Thanks for the glimmer of hope. :hi:

and see if it will come down another nickle. :hi:

In Philadelphia, where we refine it. Even in NJ, which usually runs 20 cents a gallon cheaper, is up.

That it is dropping in the midwest and going up out east.. sorry to hear about that..hope it drops soon for you too..

In Philadelphia, where we refine it. Even in NJ, which usually runs 20 cents a gallon cheaper, is almost as high.

and will drop the price when they pay for the next delivery.

Higher gas prices spur research and development into alternative energy sources and reduce domestic consumption leading to less depletion of reserves. This will encourage people to drive more and go to sleep about alternative energy. While it might be good in the short term for me and you, in the long term it might cause problems. While I and other remain vigilant, it's irrelevant without a mass of people behind us clamoring for change.

First, higher gas prices disproportionately affect those with the least amount of financial resources to withstand them---the poor. They shouldn't (nor should anyone else) be sacrificed at the altar of environmental radicalism.

Secondly, these elevated prices will significantly impact the health of the overall economy, resulting in more job losses. Higher has prices plus higher unemployment rates would place Obama's re-election efforts in serious jeopardy. We're also defending 21 Senate seats in 2012 (IIRC)

In wishing for higher prices, the environmental movement would only ensure the election of those who vehemently oppose their goals.

Imo, the only workable solution is increased drilling to ensure price stability plus continued investment in alternative and renewable sources.

Oasis

We're there now, and we're not coming back. The goal now is to get off of oil as quickly as possible. Because it is only a matter of time until the King of Kings, the oil field Ghawar in Saudi Arabia, fails. It's barely kept at current production and it's the reason the Saudis want to cut production. If we don't transition our entire infrastructure away from oil yesterday we will continue to see mass price fluctuations that will only get worse with time.

In addition, new drilling is pointless with cheaper oil, they won't drill fields that aren't profitable to drill. Unless we nationalize, which will never happen so it's pointless to talk about it. When oil prices collapsed in late 2008 along with the economy it caused many new field drilling contracts to collapse, many of these had uplift costs of around 50-75$/bbl. Those new fields won't be pursued without 200$/bbl oil.

Sorry for the poor, the rich have plenty of money, maybe they should rise up and grab some of it for themselves.

The Wright Brothers just wanted a faster way to get to the Outer Banks.

Significant pain now, or a complete and total economic collapse tomorrow. Carter tried to tell us to reduce our oil demand, we didn't listen then, and now it's too late. We had a chance to be innovative, we threw it away in the name of conspicuous consumption. The only thing that will cause innovation now is threat of death.

It is simply the way of the world. Is it doom and gloom to recognize the end of an era and to embrace the change that will come of it?

Funny how everybody needs to suffer more so you can have your pet projects fulfilled ....

I understand the rationale, but cmon ..... A bit brutal in your approach, eh ? ... Couldn't just move a little slower while people catch their breath ?

Maybe you can wait until families and children fill up their pantries before you turn the screws on them again ???

Gimme two bucks worth of high-test and wash the window! This GTO is ready to go!

I was out this evening and passed some gas stations. 89 octane was still about 4.35 a gallon; I've been using public transit a lot lately to avoid the high gas prices.

it's 3 cents more today than yesterday.

Yesterday the gas light was on and I put in $5 and it was STILL on. :P

This afternoon when I went out the price was still pegged at $3.999.

I can put 10 dollars of gas in, and the needle barely moves. Sigh.

Obama killed a bad dude and dropped the price of gasoline.

ALL IN ONE DAY (almost).

Love it!!!

:hi:

As of Friday. Up .04 per gallon since Wed. of last week.

I love these threads. I love grains of salt as well.

They raised it 68 cents in 44 days a drop of 20 cents is just their new normal that they are suckering us into accepting.

Last time oil per barrel was under $100 dollars prices were around 2.10-2.16 a gallon...
Here we are with oil at $98 dollars a barrel and gas is what? 3.86 a gallon?

Smoke and mirrors my friends smoke and mirrors.

They have a tendency to put up, especially when it means losing their oil subsidies. Took him a minute, but I think Obama may be coming around to who he told us he was going to be...