What happened to the low gas prices?

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Originally Posted By: grampi
The experts said prices would stay low for a couple of years, (beginning when the prices bottomed out), but I've noticed they keep creeping up. They're up $1 a gallon since they're lowest price...we were seeing $1.69, now they're $2.69...they just can't keep prices reasonable, can they? Soon they'll be back up to $3.50 or more...they just gotta keep pushing for those record profits, don't they?


Agreed -- Oil company greed.
 
I bought some of an oil ETF a few months ago when crude was under $40 a barrel. It seemed like downward momentum of the price had slowed and I've heard, like javacontour said, that this was below the break even price for a lot of oil production. Now whether or not producers lose less money operating at a loss rather than stopping production is a separate issue. Also, OPEC is having a tough time reducing prices because of Sunni/Shia feuding and a not-so-great world economy.

Oil prices will go up again though. I remember in 2008 everyone was going on about peak oil and how we may never see cheap oil again
smirk.gif
 
Originally Posted By: qwerty1234
If rising gas prices enrages you why not try a bike? Or public transportation. The majority of people can commute by train/bus but choose to drive. It's the American way.
Some people like cheaper gas. Just like some people like to drive around with a .20 BAC.
 
It's estimated that 3/4 of Americans are overweight. I sense the reliance of the automobile is the reason for obesity and the rising gas prices. Yet, people would rather complain then make real changes. The giant SUV sales have rebounded. Americans love gas guzzlers also.
 
The oil cartel (OPEC) initially drove the prices down by flooding the market with oil. The intent was to make it unprofitable for many areas to pump oil. Areas like North Dakota. Once the price gets so low places like this can't pump oil at a profit, so they shut down operations and laid off all their employees. So OPEC succeeded with driving away the competition. Now they're going around twisting the arms of other countries to agree to not increase production. Thus the price per barrel goes up, we pay at the pump, and the Saudi's make more money. I'd pay $5 a gallon if we were able to sustain ourselves with oil and eliminate the oil Prince from manipulating and profiting from this global commodity. I think we should go light their oil fields on fire. I'd be ok with that.
 
Gasoline is a supply / demand product. The Saidis have increased the supply more than demand increased and the result is low gas prices. The Saudis and OPEC have a goal in mind and we all know what that is.

If you are price swing averse, get a high mileage car as a hedge. At this point in American transportation history petroleum is king. But the times they are a' changin'..

Elon Musk is just the first shot across the bow of the petroleum juggernaut, and eventually one will find oneself in the dealership deciding which vehicle to buy - gas or electric. And I ponder how nice an electric car might be to maintain; no oil or coolant changes, regenerative brakes etc.

The land mass we call America offers plenty of opportunity to make the electricity we need, we just have to decide that we need to make that jump. To a degree it's already happening - anyone who has driven I-10 from Fort Stockton towards Houston surely has noticed the wind farm that goes on for miles as far as the eye can see on both sides of the highway.

When the scale finally tips, that'll be an interesting Middle East soap box opera.....
 
Originally Posted By: grampi
Originally Posted By: daves87rs
Ha...this is just the start...

Those who want it up...your wish will be granted and more!

Expecting closer to five bucks in a few years. There is a reason small/mini cars are still around! Sales will rebound soon...not doubt there.

One thing is for sure-expect everything to go up quite a bit soon.....


What are you trying to say? Are you a dooms dayer? The U.S. economy will not support $5 gas...prices near that have been tried before and they never stay there long...


You're joking, right? Greed doesn't care what we support...

We got through those 4 buck years with the some changes, and how that we can somehow afford it-they know now that can shoot even higher if they so please. Food prices have jumped up like crazy, and I haven't seen people buy less food....Whether it's the oil princes or Wall Street-someone is going to need to make more money. Most folks are just trying to survive the next price increase....


Dooms dayer? Nope- I'm just real. Profits are more important than people...it's really that simple. Otherwise this country's issues would have been fixed years ago. There was good reason our fathers/grandfathers feared the changes they saw coming...when the world is more important than your own home-you at some point lose your home...(I'll stop here..)


You'll be surprised at what you do to survive....people are banking on it.....
 
Originally Posted By: double vanos
Gasoline is a supply / demand product. The Saidis have increased the supply more than demand increased and the result is low gas prices. The Saudis and OPEC have a goal in mind and we all know what that is.

If you are price swing averse, get a high mileage car as a hedge. At this point in American transportation history petroleum is king. But the times they are a' changin'..

Elon Musk is just the first shot across the bow of the petroleum juggernaut, and eventually one will find oneself in the dealership deciding which vehicle to buy - gas or electric. And I ponder how nice an electric car might be to maintain; no oil or coolant changes, regenerative brakes etc.

The land mass we call America offers plenty of opportunity to make the electricity we need, we just have to decide that we need to make that jump. To a degree it's already happening - anyone who has driven I-10 from Fort Stockton towards Houston surely has noticed the wind farm that goes on for miles as far as the eye can see on both sides of the highway.

When the scale finally tips, that'll be an interesting Middle East soap box opera.....


Reasons why I'm excited to see the new Volt and Bolt....
 
Originally Posted By: Kuato
Originally Posted By: grampi
The experts said prices would stay low for a couple of years, (beginning when the prices bottomed out), but I've noticed they keep creeping up. They're up $1 a gallon since they're lowest price...we were seeing $1.69, now they're $2.69...they just can't keep prices reasonable, can they? Soon they'll be back up to $3.50 or more...they just gotta keep pushing for those record profits, don't they?


Agreed -- Oil company greed.





Consumer greed. No matterhow low gas gets, we just keep pushing for it to get lower. I saw this via Facebook. A person was bad mouthing the oil companies saying they were greedy and as should be lower. Well, gas got lower and he knew a guy who may miss some work now since the gas price was so low. He boo-hooed a little about that but apparently still shopped for the cheapest gas he could find.



So, if gas were a quarter dollar a gallon, there would probably be folks complaining it isnt twenty cents and they would visit whoever had it cheaper and buy from them.



I was pretty happy paying 2.25 for 93 0ctane and seeing other drivers be happy about spending 1.60 a gallon for 87. But, I guess, there were still those who would skip out on name brand fuels to go across town to get it for a nickel cheaper.
 
Originally Posted By: grampi
Originally Posted By: Al
Let it go back up to $4+


Yeah right, and out the window goes any forward progress by our economy...low gas prices = better economy...high gas prices = a drain on the economy...


+1
 
Gasoline prices roughly follow the price of crude. Of course there are anomalies from time to time, but earlier this year the price of a barrel of the stuff was below $30. It is now near $50. Hence the increase in gasoline prices over the last few months.
 
Originally Posted By: grampi
Originally Posted By: Al
Let it go back up to $4+


Yeah right, and out the window goes any forward progress by our economy...low gas prices = better economy...high gas prices = a drain on the economy...


Nonsense. For every loser when gas prices go up, there is also a winner. Higher gas prices mean that we focus more on alternative resources such as the area around the Bakken region of North Dakota, along with exploring alternatives. And of course, there are all those folks who were smart enough to put diversify of their investments into energy stocks-we're doing quite well when the prices and profits rise.
 
Originally Posted By: qwerty1234
If rising gas prices enrages you why not try a bike? Or public transportation. The majority of people can commute by train/bus but choose to drive. It's the American way.


Really? How many of those train/bus routes are available to those who live in rural areas?
 
Originally Posted By: qwerty1234
It's estimated that 3/4 of Americans are overweight. I sense the reliance of the automobile is the reason for obesity and the rising gas prices. Yet, people would rather complain then make real changes. The giant SUV sales have rebounded. Americans love gas guzzlers also.


Blaming spoons would be closer to the real reason so many Americans are overweight, but that's not the reason either...
 
Originally Posted By: bvance554
The oil cartel (OPEC) initially drove the prices down by flooding the market with oil. The intent was to make it unprofitable for many areas to pump oil. Areas like North Dakota. Once the price gets so low places like this can't pump oil at a profit, so they shut down operations and laid off all their employees. So OPEC succeeded with driving away the competition. Now they're going around twisting the arms of other countries to agree to not increase production. Thus the price per barrel goes up, we pay at the pump, and the Saudi's make more money. I'd pay $5 a gallon if we were able to sustain ourselves with oil and eliminate the oil Prince from manipulating and profiting from this global commodity. I think we should go light their oil fields on fire. I'd be ok with that.


I agree, they are a bunch of evil bastages...
 
Originally Posted By: grampi
Really? How many of those train/bus routes are available to those who live in rural areas?

My maternal grandfather farmed his entire life, safe a stint in WWI, and never owned an internal combustion engine in his life. His kids still got to school each day and he went to church every Sunday. And, he avoided the internal combustion engine "craze" long after it became mainstream.

I guess that's an example of you can't miss something you never had in the first place. You or I might have a tough time without a vehicle. He did just fine. If he can farm with horses, we can park our vehicles once in a while if we think gas is too expensive.
 
Originally Posted By: mjoekingz28
Originally Posted By: Kuato
Originally Posted By: grampi
The experts said prices would stay low for a couple of years, (beginning when the prices bottomed out), but I've noticed they keep creeping up. They're up $1 a gallon since they're lowest price...we were seeing $1.69, now they're $2.69...they just can't keep prices reasonable, can they? Soon they'll be back up to $3.50 or more...they just gotta keep pushing for those record profits, don't they?


Agreed -- Oil company greed.





Consumer greed. No matterhow low gas gets, we just keep pushing for it to get lower. I saw this via Facebook. A person was bad mouthing the oil companies saying they were greedy and as should be lower. Well, gas got lower and he knew a guy who may miss some work now since the gas price was so low. He boo-hooed a little about that but apparently still shopped for the cheapest gas he could find.



So, if gas were a quarter dollar a gallon, there would probably be folks complaining it isnt twenty cents and they would visit whoever had it cheaper and buy from them.



I was pretty happy paying 2.25 for 93 0ctane and seeing other drivers be happy about spending 1.60 a gallon for 87. But, I guess, there were still those who would skip out on name brand fuels to go across town to get it for a nickel cheaper.


You're right. The oil industry is a business and they need to make a profit to stay in business. I don't have a problem with that. What I do have a problem with is the manipulation of the market by the industry for their own gain. Not only is it wrong ethically, it should be illegal....
 
Originally Posted By: daves87rs
Originally Posted By: grampi
Originally Posted By: daves87rs
Ha...this is just the start...

Those who want it up...your wish will be granted and more!

Expecting closer to five bucks in a few years. There is a reason small/mini cars are still around! Sales will rebound soon...not doubt there.

One thing is for sure-expect everything to go up quite a bit soon.....


What are you trying to say? Are you a dooms dayer? The U.S. economy will not support $5 gas...prices near that have been tried before and they never stay there long...


Greed doesn't care what we support...



Since the U.S. is the biggest cash cow for the industry, I believe they do care what we support...
 
Originally Posted By: Pop_Rivit
Originally Posted By: grampi
Originally Posted By: Al
Let it go back up to $4+


Yeah right, and out the window goes any forward progress by our economy...low gas prices = better economy...high gas prices = a drain on the economy...


Nonsense. For every loser when gas prices go up, there is also a winner. Higher gas prices mean that we focus more on alternative resources such as the area around the Bakken region of North Dakota, along with exploring alternatives. And of course, there are all those folks who were smart enough to put diversify of their investments into energy stocks-we're doing quite well when the prices and profits rise.


Any benefits higher gas prices bring to the economy are far outweighed by the drag they put on the rest of the economy....
 
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