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Post by Ravenchamp on Oct 22, 2014 6:08:14 GMT -5
It's been nice getting fuel costs down again, our area average so far is 2.97 per gallon.
Gas still shouldn't even be a buck, but I'll take 2.97 and dropping.
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Post by exgi on Oct 22, 2014 6:18:19 GMT -5
I paid $2.64 on the way to work this morning.
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Post by Ravenchamp on Oct 22, 2014 6:18:50 GMT -5
sweet
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Post by stevez51 on Oct 22, 2014 6:20:48 GMT -5
How long before a Middle East country starts saber rattling or blocks a water way to create a crisis.. There goes their profits ......
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Post by rentedmule on Oct 22, 2014 6:21:16 GMT -5
It's been nice getting fuel costs down again, our area average so far is 2.97 per gallon. Gas still shouldn't even be a buck, but I'll take 2.97 and dropping. From a historical perspective, US fuel is probably a bargain. Rather than "measuring" the value of fuel using the US dollar instead visualize the dollar using fuel as the measure!
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Post by pahunter on Oct 22, 2014 9:34:57 GMT -5
I paid $2.64 on the way to work this morning. I like it I like it
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Post by vosa on Oct 22, 2014 12:44:50 GMT -5
Imagine how low the price would be if we kept US oil in the US.
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Post by Deleted on Oct 22, 2014 12:55:34 GMT -5
Imagine how low the price would be if we kept US oil in the US. The source of the oil has very little impact on the price.
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Post by vosa on Oct 23, 2014 13:25:16 GMT -5
Imagine how low the price would be if we kept US oil in the US. The source of the oil has very little impact on the price.
Maybe not but the law of supply and demand does and I think we would have more control over the supply if the source was within the U.S.
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Post by com6063 on Oct 23, 2014 13:34:06 GMT -5
I gassed up my Honda this am for $35.56.
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Post by Ravenchamp on Oct 23, 2014 13:52:07 GMT -5
Imagine how low the price would be if we kept US oil in the US. The source of the oil has very little impact on the price.
I would think our homeland oil costs would be cheaper, no import costs.
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Post by Deleted on Oct 23, 2014 20:43:51 GMT -5
The source of the oil has very little impact on the price.
I would think our homeland oil costs would be cheaper, no import costs. It doesn't work that way. All oil is bought and sold on the world market. Until recently, increases in United States production have been offset by geopolitical disruptions in other parts of the world. Libya has only recently begun to ramp up its oil production, but at the same time, there has been a drop in demand in countries such as China, Germany and the United States. All of that oil is now flooding the world market.
Global oil markets are so intertwined that any changes in even one part of the system can affect the price. I'd say one significant factor this past few months has been the noticeable lack of hurricanes in the Gulf. An active hurricane season can threaten to damage the offshore platforms and refineries on the Gulf Coast.
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Post by Deleted on Oct 23, 2014 20:55:30 GMT -5
The source of the oil has very little impact on the price.
Maybe not but the law of supply and demand does and I think we would have more control over the supply if the source was within the U.S. We actually import less oil than you may think, and our biggest supplier isn't the Middle East, but Canada. Overall demand is certainly a factor, but just as OPEC nations aren't happy over the lower oil prices, so, too, would it be less profitable to produce oil domestically. The silver lining in high oil prices is that it encourages more exploration and more drilling in areas where it is otherwise difficult and cost-prohibitive to do so. In the United States, that included techniques such as fracking in order extract oil from shale and rock formations.
But let oil drop to, say, $80 per bbl and much of that drilling will slow considerably because it's no longer profitable to do so. Couple that with OPEC nations, whose very economies depend on high oil prices, likely reducing their supplies, and the price will begin to climb once again.
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Post by Cowboyz on Oct 24, 2014 3:23:55 GMT -5
I'm hoping it continues to drop, I still have to heat my house for the winter.
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Post by Ravenchamp on Oct 24, 2014 4:56:32 GMT -5
our 2.97 has dropped to 2.95 over night.
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Post by rentedmule on Oct 24, 2014 5:20:23 GMT -5
Maybe not but the law of supply and demand does and I think we would have more control over the supply if the source was within the U.S. We actually import less oil than you may think, and our biggest supplier isn't the Middle East, but Canada. Overall demand is certainly a factor, but just as OPEC nations aren't happy over the lower oil prices, so, too, would it be less profitable to produce oil domestically. The silver lining in high oil prices is that it encourages more exploration and more drilling in areas where it is otherwise difficult and cost-prohibitive to do so. In the United States, that included techniques such as fracking in order extract oil from shale and rock formations.
But let oil drop to, say, $80 per bbl and much of that drilling will slow considerably because it's no longer profitable to do so. Couple that with OPEC nations, whose very economies depend on high oil prices, likely reducing their supplies, and the price will begin to climb once again.
Nice post! I'm not sure why so many Americans are obsessed with nationalism and protectionism when it comes to energy. In 1939 the US produced 71% of all the oil in the world. So what? Our economy was in shambles, our society uncertain and our government approaching bankruptcy brought upon us by a horrific world struggle. By the 1950's we were importing oil! In my opinion for rational reasons but certainly not because we "had to".
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Post by shutout on Oct 24, 2014 10:05:08 GMT -5
It's been nice getting fuel costs down again, our area average so far is 2.97 per gallon. Gas still shouldn't even be a buck, but I'll take 2.97 and dropping. Why do you think it should be under one dollar per gallon?
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Post by vosa on Oct 24, 2014 12:23:16 GMT -5
I would think our homeland oil costs would be cheaper, no import costs. It doesn't work that way. All oil is bought and sold on the world market. Until recently, increases in United States production have been offset by geopolitical disruptions in other parts of the world. Libya has only recently begun to ramp up its oil production, but at the same time, there has been a drop in demand in countries such as China, Germany and the United States. All of that oil is now flooding the world market.
Global oil markets are so intertwined that any changes in even one part of the system can affect the price. I'd say one significant factor this past few months has been the noticeable lack of hurricanes in the Gulf. An active hurricane season can threaten to damage the offshore platforms and refineries on the Gulf Coast. How about if the U.S. simply declines to participate in global oil markets until such time as Americans don’t have to choose between gassing up to go to work and putting a decent meal on the table? Maybe not but the law of supply and demand does and I think we would have more control over the supply if the source was within the U.S.
We actually import less oil than you may think, and our biggest supplier isn't the Middle East, but Canada. Overall demand is certainly a factor, but just as OPEC nations aren't happy over the lower oil prices, so, too, would it be less profitable to produce oil domestically. The silver lining in high oil prices is that it encourages more exploration and more drilling in areas where it is otherwise difficult and cost-prohibitive to do so. In the United States, that included techniques such as fracking in order extract oil from shale and rock formations.
But let oil drop to, say, $80 per bbl and much of that drilling will slow considerably because it's no longer profitable to do so. The U.S. government has ways to encourage oil companies to not pursue this course of action. Couple that with OPEC nations, whose very economies depend on high oil prices, likely reducing their supplies, and the price will begin to climb once again. Screw the OPEC nations. That’s the whole point of an energy independent U.S., tribes with a flag like Saudi Arabia could no longer hold us hostage by decreasing the supply of oil.
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Post by aboutwell on Oct 24, 2014 14:17:45 GMT -5
$ 2.51 down here...
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Post by Ravenchamp on Oct 24, 2014 16:43:27 GMT -5
It's been nice getting fuel costs down again, our area average so far is 2.97 per gallon. Gas still shouldn't even be a buck, but I'll take 2.97 and dropping. Why do you think it should be under one dollar per gallon? I don't see a need to have it a current costs, at all IMO they have enough profit
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Post by shutout on Oct 24, 2014 17:04:10 GMT -5
Why do you think it should be under one dollar per gallon? I don't see a need to have it a current costs, at all IMO they have enough profit I was looking more for facts. Do you know what the profit margin is on a gallon of gas in the USA? What percentage of Exxon's profits come from refined products? Who wouls set the price? The federal goverment?
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Post by shutout on Oct 24, 2014 17:04:56 GMT -5
Why do you think it should be under one dollar per gallon? I don't see a need to have it a current costs, at all IMO they have enough profit Would you want someone to tell you how much profit is enough in your business?
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Post by Ravenchamp on Oct 24, 2014 18:47:23 GMT -5
I don't see a need to have it a current costs, at all IMO they have enough profit I was looking more for facts. Do you know what the profit margin is on a gallon of gas in the USA? What percentage of Exxon's profits come from refined products? Who wouls set the price? The federal goverment? I really don't care, I don't like it personally since we're talking billions of dollars that harms the general public
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Post by shutout on Oct 24, 2014 20:13:18 GMT -5
I was looking more for facts. Do you know what the profit margin is on a gallon of gas in the USA? What percentage of Exxon's profits come from refined products? Who wouls set the price? The federal goverment? I really don't care, I don't like it personally since we're talking billions of dollars that harms the general public Which portion don't you care about? Or is it all the items I mentioned? "I don't care" shouldn't be a default answer.
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Post by husagafella on Oct 24, 2014 20:59:57 GMT -5
I was looking more for facts. Do you know what the profit margin is on a gallon of gas in the USA? What percentage of Exxon's profits come from refined products? Who wouls set the price? The federal goverment? I really don't care, I don't like it personally since we're talking billions of dollars that harms the general public I'm with you Champ. I think the Government should take over the oil industry and take the profit out of it. Just like ObamaCare is going to straighten out the greedy medical industry we could have ObamaOil straighten out the greedy oil industry. What do you think Champ?
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