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Thread: What's up with the price of gas

  1. #21
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    Gas at about $2.60/gal. here. About 65 cents of that is taxes. runfiverun thinks I should pay 80 cents per gallon in tax; diesel is higher yet.

    Not a big fan of telling the government they're not confiscating enough of my children's money.

    Besides that, the more money they take from you, the more money they waste. Just take a look at the recent $1,100,000,000,000.00 budget. If the gov't needs more revenue, stop giving our money to people and countries that not only didn't earn it, but don't even like us.

    smokeywolf
    A well regulated militia, being necessary to the security of a free State, the right of the People to keep and bear arms *shall not be infringed*.

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  2. #22
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    I filled up my 71 Chev truck this morning...$2.21 here in MN.

    But the real question is, what is this gonna do to global warming
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  3. #23
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    Not sure about the globe but it warms my heart
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  4. #24
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    What's it gonna do with the folks who believe in "global warming"? Frankly we are trying to speed it up here in Vermont.
    Being human is not for sissies.

  5. #25
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    My question is why isn't diesel following more closely? It is still pretty high last time I saw.

  6. #26
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    Quote Originally Posted by Petrol & Powder View Post
    .....The Suadis are willing to "lose" billions of dollars to destroy US competition; as long as the Commerce Department refuses to allow sales of US produced crude overseas their tactics have a chance of working......

    I know of no such U.S. government restriction on the sale of US crude.
    Currently U.S. crude cannot be exported without special permission.

    Tim
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  7. #27
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    Quote Originally Posted by Idz View Post
    I read somewhere that the costs to get a barrel of oil out the ground ran about $18 for Saudi, $25-30 US wells, $30-50 fracking, and $50 for US offshore wells. The Saudis can push down prices a long way before the lose money.
    I think those cost include exploration, drilling, leases and operations. If the well is already drilled they are going to pump since exploration, drilling and leases are sunk costs at that point.

    Tim
    Words are weapons sharper than knives - INXS

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  8. #28
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    In ways it would be nice if we could keep our oil/energy here and keep costs down. It is about time OPEC finds out there is another big dog on the street. As far as increasing the gas tax....no way....sounds good Lamar but they will never use it for debt, infrastructure etc. They will fritter it away driving us further in debt.

  9. #29
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    Quote Originally Posted by wch View Post
    I pumped gas at a Texaco station in New Orleans in 1960 that sold for 35 cents a gallon!
    My senior year in H.S., '72-'73, I pumped gas @ .15 - .17/gal during the good ol' "gas wars"...remember those?! It was routinely in the mid-.20s/gal IIRC. My kids can't believe me when I tell them that stuff, particularly the ones that are old enough to buy their own gasoline now.

    I paid 2.36 the other day and was shocked (up here in WA state).

  10. #30
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    Quote Originally Posted by shooter93 View Post
    In ways it would be nice if we could keep our oil/energy here and keep costs down. It is about time OPEC finds out there is another big dog on the street. As far as increasing the gas tax....no way....sounds good Lamar but they will never use it for debt, infrastructure etc. They will fritter it away driving us further in debt.

    Luke 16:10New King James Version (NKJV)

    10 He who is faithful in what is least is faithful also in much; and he who is unjust in what is least is unjust also in much.


    You're right shooter93. If the government can't make what we have now work then it's not a problem of how much money they have, but how they are using it. You won't find any support for tax hikes from me.

  11. #31
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    Gas was $2.58 here Wednesday. Today, $2.22.
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  12. #32
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    u.s crude is exported.

    the last time gas prices dropped we exported enough crude oil to drive the price back up again.
    the way oil markets work is you sign a contract to provide oil to country-A for a set amount per barrel.
    where that oil comes from depends on the type of oil needed to either mix or to make certain products from.

    crude oil is not just crude oil, it has many different components and quality's, some are more desirable than others.
    the oil from the bakken contains a lot of water and is highly flammable, it's also a thin fluid much like diesel fuel and motor oil mixed together in looks and viscosity.
    the oil from eastern Utah has a lot of paraffin and is super thick by comparison, closer to gear oil and Vaseline mixed together..

    back in the early 2,000's when the price of oil was 75.00 a barrel the focus was not so much on oil production, it was still profitable of course but not a priority.
    natural gas was where the profit was at that time so areas like the Jonah field in Wyoming, the marcelus in Pennsylvania, and other areas around ohio and upstate new York was where the focus was centered.
    it wasn't until the price of oil went closer to and then over $80.00 a barrel [08-09] that things started taking off in the oil producing fields again.

    anyway if oil hit's $50.00 per barrel any completions or further drilling will be severely compromised.
    that is the cut-off point where everything gets laid down, there is not enough profit to continue operations and the oil company's will fall back into production mode with what they got up and going until demand drives prices up again.


    the government won't use the money to make things better,,, we all know that.
    but they will take advantage of the situation.
    think about how much lower gas prices would be right now if the [49 cent per gallon] tax were removed.
    and think about how easy it would be to tack another 15 cents onto that tax right before the price went up again.

    I have to pay attention to this stuff.
    it's easy for me to buy gas when it's $3.00 a gallon, it's very, very difficult for me to afford it at $2.00 a gallon.

  13. #33
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    Imagine it will stay low and when and if XL pipeline gets built and 2016 ejections go well, price will stay low indefinitely. I think the Saudis are mistaken in thinking they can crush ingenuity and natural resources that exist here in North America by pumping away. The world economy is in retreat and that will depress prices as well.

  14. #34
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    Although today's oil price is lower than what we are used to, it is still close to four times higher than it was 15 years ago.
    A well regulated militia, being necessary to the security of a free State, the right of the People to keep and bear arms *shall not be infringed*.

    "The greatest danger to American freedom is a government that ignores the Constitution."
    - Thomas Jefferson

    "While the people have property, arms in their hands, and only a spark of noble spirit, the most corrupt Congress must be mad to form any project of tyranny."
    - Rev. Nicholas Collin, Fayetteville Gazette (N.C.), October 12, 1789

  15. #35
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    I used to be able to fill of my 1981 Ford LTD and get a snickers bar for a $20 bill.

  16. #36
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    Quote Originally Posted by gwpercle View Post
    I filled up my car this morning, gas was $1.77 a gallon. What in the world are the oil companies doing? Fixing to ask the tax payer for a big "bail out " because they are on the edge of bankruptcy and are TOO BIG to fail....somethings up!
    They are known to jack up the cost of gas just because there might be a named hurricane in the Gulf of Mexico!
    Gary
    Trying to get me laid off is what they are doing. it's already way below what these smaller company's have to get to make a profit. If it goes down anymore, myself and a lot of others will be looking for work..

  17. #37
    Banned Bullshop Junior's Avatar
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    Quote Originally Posted by btroj View Post
    Hope you get to keep a job Run. The cost of living in ND is thru the roof and this is going to kill a ton of jobs. Any idea how this is gonna affect BUllshop Jr.?
    I had a week and a half off, but finally went back to work yesterday. I'm doing pipeline stuff, so there is still some work, but the company I work for is loosing oil pad jobs fast. People are already getting laid off, and I'm not sure if I will be or not. I am working pipeline, so the job is there, but there are a lot of guys who have worked for this company much longer then I have that will be losing there jobs because of the drop, and I am afraid of getting laid off so one of them can have my job..

  18. #38
    Banned Bullshop Junior's Avatar
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    Quote Originally Posted by Petrol & Powder View Post
    I don't profess to be an expert on this but from what I've read Kent Fowler & runfiverun seem to have good grasp on the situation.
    American oil production, particularly fracking, is only profitable when the price of crude oil is high. OPEC, led by the Saudi's this time, can produce oil far cheaper then we can. They can also sustain a loss longer than the private sector here in the U.S. can, although I don't think they operating at a loss right now. (just not making the same profit as before).
    This is the global market forces at work and it is a good thing. Russia, which derives a huge portion of its GNP from the sale of oil, is hurting.
    If you've ever read about the history of the production of oil the current situation is a common repeat of history. When OPEC drove the price of oil up in the 70's and 80's, competitors in the North Sea, Texas, Alaska, the Gulf of Mexico and others out produced OPEC and market forces drove the price back down. In fact, for a while the production from the North Sea alone eclipsed the much of the middle east.
    I don't think the current situation will last because market forces are always at work but it is interesting.
    The big downside is the short term harm to American and Canadian oil producers, They have invested billions of dollars to profitably produce oil at a certain cost per barrel and it will be a contest to see who can survive.
    I have mixed emotions about the whole thing. On one hand the decreased cost of living to the average American is good for people and most of our economy. On the other hand, failure of our oil industry will harm one of the few parts of our economy that was thriving. Decreased world oil prices will harm Russia but may help China's floundering economy......
    Lot of moving parts to this.
    It cost these smaller company's about $65 a barrel to produce it.

  19. #39
    Boolit Master Garyshome's Avatar
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    Time to start Hoarding Gasoline!

  20. #40
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    Quote Originally Posted by Bullshop Junior View Post
    I had a week and a half off, but finally went back to work yesterday. I'm doing pipeline stuff, so there is still some work, but the company I work for is loosing oil pad jobs fast. People are already getting laid off, and I'm not sure if I will be or not. I am working pipeline, so the job is there, but there are a lot of guys who have worked for this company much longer then I have that will be losing there jobs because of the drop, and I am afraid of getting laid off so one of them can have my job..
    Hang in there Jr. I'm praying for you and the others who could be seriously in trouble due to this. Kinda makes it harder to get excited about cheap gas when you see the affect on others in the country.
    You will learn far more at the casting, loading, and shooting bench than you ever will at a computer bench.

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