19Fuzzy55 Posted December 3, 2014 Share Posted December 3, 2014 I hear that gas prices are going to below $2.00 a gallon. That would be nice. Quote Link to comment Share on other sites More sharing options...
silvrsvt Posted December 3, 2014 Share Posted December 3, 2014 Last thing I saw was gas was going to go down .20 a gallon from where it is now, my gas bill was $75 bucks cheaper this month then last! Quote Link to comment Share on other sites More sharing options...
19Fuzzy55 Posted December 3, 2014 Author Share Posted December 3, 2014 Aright. Quote Link to comment Share on other sites More sharing options...
goinbroke2 Posted December 3, 2014 Share Posted December 3, 2014 I've been jumping for joy as the price tumbled...but then heard the stories (ulterior motives? conspiracy theories?) and am a little apprehensive. There was talk of opec fighting about whether to keep the price up by reducing pumping or keeping pumping the same and gaining market share. US shale oil is about $65 a barrel to produce and Alberta tar sands oil is $70 per barrel, opec costs about $30 per barrel to produce. In theory, they could keep pumping, drive the price down to $50 a barrel and kill a lot of Canadian and US companies/jobs while still bringing profit. (albeit at a reduced rate) I'm still glad the price is down as I've gone from over $100 a week for fuel to $48 a week...but...if it's bad for North America..... Quote Link to comment Share on other sites More sharing options...
351cid Posted December 3, 2014 Share Posted December 3, 2014 Naimi declares price war on U.S. shale oil,” a Reuters headline shouted, referring to Saudi Arabia Oil Minister Ali al-Naimi. But there are at least three big problems with this strategy. One, North American crude isn’t as expensive to produce as it used to be. Two, there’s more than you think in the pipeline to make it even cheaper. And third, OPEC nations, including Saudi Arabia, have squandered their edge in cheap oil supplies on welfare states rulers can’t easily cut back. In 2012, when U.S. shale burst into public consciousness, common wisdom was that it would cost at least $70 to $75 a barrel to produce. As recently as last week, saying U.S. producers could tolerate $60 oil seemed aggressive. But data from the state of North Dakota says the average cost per barrel in America’s top oil-producing state is only $42 — to make a 10% return for rig owners. In McKenzie County, which boasts 72 of the state’s 188 oil rigs, the average production cost is just $30, the state says. Another 27 rigs are around $29. http://www.marketwatch.com/story/opec-is-wrong-to-think-it-can-outlast-us-on-oil-prices-2014-12-02 Quote Link to comment Share on other sites More sharing options...
RangerM Posted December 3, 2014 Share Posted December 3, 2014 Saw $2.53 on the way to work this morning (near Garner, NC) Quote Link to comment Share on other sites More sharing options...
SoonerLS Posted December 3, 2014 Share Posted December 3, 2014 From what I've been reading, the Saudis may very well be increasing production (and driving down the price of crude) to hurt Iran, Russia, and/or ISIS/ISIL--and there's some thought that they might be colluding with the US to do it. Quote Link to comment Share on other sites More sharing options...
SoonerLS Posted December 3, 2014 Share Posted December 3, 2014 Saw $2.53 on the way to work this morning (near Garner, NC) If I wanted gasohol, I could pay $2.27/gal. My normal station with 100% gasoline is $2.44/gal. Quote Link to comment Share on other sites More sharing options...
Edstock Posted December 4, 2014 Share Posted December 4, 2014 From what I've been reading, the Saudis may very well be increasing production (and driving down the price of crude) to hurt Iran, Russia, and/or ISIS/ISIL--and there's some thought that they might be colluding with the US to do it. Iran is not the target, as it is anti-ISIS, and already well-sanctioned, but it gives the Saudis and the US a way of bleeding ISIS and giving Vlad one up-side the head as the value of Russkie oil exports tank. Crimea river, Vlad. 1 Quote Link to comment Share on other sites More sharing options...
silvrsvt Posted December 4, 2014 Share Posted December 4, 2014 From what I've been reading, the Saudis may very well be increasing production (and driving down the price of crude) to hurt Iran, Russia, and/or ISIS/ISIL--and there's some thought that they might be colluding with the US to do it. Thats the other thing thats going on, but the other thing that is interesting about this is it seems like the demand for oil is starting to slack a bit, partly due to more efficient cars and people not driving as much? Quote Link to comment Share on other sites More sharing options...
SoonerLS Posted December 4, 2014 Share Posted December 4, 2014 (edited) Iran is not the target, as it is anti-ISIS, and already well-sanctioned, but it gives the Saudis and the US a way of bleeding ISIS and giving Vlad one up-side the head as the value of Russkie oil exports tank. Crimea river, Vlad. There's no love lost between the Saudis and Iranians, so I'm pretty sure they're not shedding a single tear over any harm it's causing the Iranians, whether they're intentional targets or not. Edited December 4, 2014 by SoonerLS Quote Link to comment Share on other sites More sharing options...
probowler Posted December 4, 2014 Share Posted December 4, 2014 $3.29 is the cheapest up here in Alaska Still looking forward to one day paying less than $100 to fill up my Bronco... Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted December 4, 2014 Share Posted December 4, 2014 (edited) $3.29 is the cheapest up here in Alaska Still looking forward to one day paying less than $100 to fill up my Bronco... Pour some cement in the gas tank. Course, you may see a bit of a decrease in the distance you can drive on a tank................................... Edited December 4, 2014 by RichardJensen 2 Quote Link to comment Share on other sites More sharing options...
SoonerLS Posted December 4, 2014 Share Posted December 4, 2014 Pour some cement in the gas tank. As an alternative, you could always fill up before you get below half a tank... Quote Link to comment Share on other sites More sharing options...
Trader 10 Posted December 4, 2014 Share Posted December 4, 2014 I didn't know 100% gasoline was available anymore. Thought all gas was at least 10% ethanol. Quote Link to comment Share on other sites More sharing options...
SoonerLS Posted December 4, 2014 Share Posted December 4, 2014 I didn't know 100% gasoline was available anymore. Thought all gas was at least 10% ethanol. It depends on your location. In Oklahoma and Texas, there are lots of stations that sell 100% gas. There may be other states that have real gas, but those are the only states where I've bought gas since '06 or so.. Quote Link to comment Share on other sites More sharing options...
SoonerLS Posted December 4, 2014 Share Posted December 4, 2014 The news just showed a station in OKC selling gas at $1.99/gal. The 7-11 across the street is at $2.03/gal. Quote Link to comment Share on other sites More sharing options...
papilgee4evaeva Posted December 4, 2014 Share Posted December 4, 2014 I didn't know 100% gasoline was available anymore. Thought all gas was at least 10% ethanol. www.pure-gas.org Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted December 4, 2014 Share Posted December 4, 2014 I didn't know 100% gasoline was available anymore. Thought all gas was at least 10% ethanol. If you're in the Chicago area, this article provides some info (some of it is outdated/incorrect): Which brings us to Chicago. Like most of the East Coast metro corridor, much of southern and central California, and a handful of other places, Chicago is an “RFG” area, as is Milwaukee: The 1990 amendments to the federal Clean Air Act required that “reformulated gasoline” be used in nine geographic areas with the worst smog pollution, to reduce harmful levels of ozone in air. At that time, reformulated gasoline (RFG) had to contain two percent oxygen by weight. Refiners met the oxygen requirement by adding ethers or alcohols that contain oxygen to gasoline. The two most commonly used additives were MTBE (methyl tertiary butyl ether, which was used in about 87 percent of RFG) and ethanol (which has been used primarily in the Midwest where it is produced from corn). http://www.chicagomag.com/Chicago-Magazine/The-312/March-2012/Why-Gas-Is-So-Expensive-During-the-Summer-And-Especially-in-Chicago/ The correct info is that the all gas in the Chicago metro must be oxygenated. The incorrect/outdated info is the idea that other areas can use MTBE. I don't believe that any refinery is using MTBE these days. The government originally backstopped gas stations, refineries and distributors against MTBE contamination (which is particularly nasty, given that MTBE readily combines with water), and MTBE was the preferred oxygenator. However, when the government stopped indemnifying against MTBE contamination, just about every refiner and blender switched to ethanol. Quote Link to comment Share on other sites More sharing options...
Bryan1 Posted December 4, 2014 Share Posted December 4, 2014 First U.S. Gas Station Drops Below $2 a Gallon http://www.bloomberg.com/news/2014-12-03/first-u-s-gas-station-drops-below-2-a-gallon.html Quote Link to comment Share on other sites More sharing options...
SoonerLS Posted December 4, 2014 Share Posted December 4, 2014 First U.S. Gas Station Drops Below $2 a Gallon http://www.bloomberg.com/news/2014-12-03/first-u-s-gas-station-drops-below-2-a-gallon.html Hmm, that sounds familiar Quote Link to comment Share on other sites More sharing options...
Bryan1 Posted December 4, 2014 Share Posted December 4, 2014 I found it on the first page of Drudge. You didn't provide the link. Quote Link to comment Share on other sites More sharing options...
Bryan1 Posted December 4, 2014 Share Posted December 4, 2014 More.... 'Gas war' breaks out when price falls below $2 http://www.usatoday.com/story/money/cars/2014/12/04/gas-wars-oklahoma-gas-prices/19878135/ Quote Link to comment Share on other sites More sharing options...
SoonerLS Posted December 12, 2014 Share Posted December 12, 2014 The local news reported two stations in OKC with $1.89/gal regular unleaded. (Remember when that was an oxymoron?) Quote Link to comment Share on other sites More sharing options...
akirby Posted December 12, 2014 Share Posted December 12, 2014 Reminds me of a favorite story. During the gas crisis a guy is pumping gas and asks the owner why his gas was so expensive compared to the station down the street. The owner says what do you mean? He says you're charging $2.50/gallon but the station down the street is only $2.00/gallon. The owner says if his gas is $0.50 cheaper then why are you here? He says because that guy is out of gas. The owner says "Well if I was out of gas mine would be $2.00 too!" 1 Quote Link to comment Share on other sites More sharing options...
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