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Thread: What's up with the price of gas

  1. #41
    Boolit Grand Master

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    Sorry about the jobs, the economics of the oil industry are a real roller coaster ride for
    workers and consumers. I appreciate keeping more of my $$ in my pocket, but do feel
    for the workers.

    Bill
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  2. #42
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    Quote Originally Posted by dtknowles View Post
    Currently U.S. crude cannot be exported without special permission.

    Tim
    We don't export a lot of crude because we have a fairly high demand for it here. I could be wrong but I don't think that's government policy, just a fact of demand for oil.

    Can you quote some source for that alleged regulation? I'll be happy to admit that I'm wrong if you can?

  3. #43
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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.........
    Actually, that's not good policy. As long as your economy can stand the price, it is FAR better to deplete their oil first (use up their natural resources) while you hold your oil in reserve.

    Drill here, Drill now- is a good policy for when you want competition to force the price of your foreign oil sources down but it is a bad long term policy for America.

    Use up their stuff first !!

  4. #44
    Boolit Master
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    Here is what oil has been doing for the last 45 years.

    http://www.fedprimerate.com/crude-oil-price-history.htm

    http://www.macrotrends.net/1369/crud...-history-chart

    Wonder how the oil companies were able to stay in business in 1980 when oil hit $116.00/barrel but gas was still well under $1.00/gal.

    smokeywolf
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  5. #45
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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..
    Don't wait for life to happen. When laid off, hit the construction companies for work.
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  6. #46
    Boolit Master Slow Elk 45/70's Avatar
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    We Americans can't see the Forrest for the trees. We have no ability to look forward and see what cause the current problems.

    Yes in 1955 gas was 18-25 cents per gallon in NW Florida, for years....yes we did not think it was going to change.

    Yes when WWII was over , we put our heads into our butt again, what happens ? Korea. Again we were not ready 5 years later to go back into a 3 year war .And again and again the cycle goes on. We are reluctant to change. Or are we this stupid?? Yes there are several drivers behind for the lower cost fuel over night...and our enemies are gaing strength and closing ranks...while our "Leaders do everything in their power to help cripple the USA...united we stand---divided we will fail.
    Slow Elk 45/70

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  7. #47
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    Quote Originally Posted by waksupi View Post
    Don't wait for life to happen. When laid off, hit the construction companies for work.
    I've already been hitting up other companys, and a couple of the county road offices

  8. #48
    Boolit Master



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    Quote Originally Posted by Petrol & Powder View Post
    Actually, that's not good policy. As long as your economy can stand the price, it is FAR better to deplete their oil first (use up their natural resources) while you hold your oil in reserve.

    Drill here, Drill now- is a good policy for when you want competition to force the price of your foreign oil sources down but it is a bad long term policy for America.

    Use up their stuff first !!
    I grew up in the Texas Panhandle and worked Oil Fields in high school years. Dad had a series of Gas stations (one at a time, not several) in the 60's, remember pumping gas with gas wars- lowest I remember was 9 cents a gallon. Knew several people who went from extremely wealthy, to poor, to extremely wealthy, to... as Oil booms and busts occurred throughout my life.

    1. Market fluctuations are natural in the Oil Business.

    2. We do not have a "True Market" in oil as all the governments across the Globe try to influence prices.

    3. The Saudi's and several brother Islamic countries in the region have the ability to pump cheap oil compared to the US and others; but pumping cheap oil is a "High Risk Endeavor" for them. Their populations have become dependent upon those same Islamic governments providing free/subsidized housing, food, and all of life's desires - while they import cheap labor from poor (Read limited Oil available) Islamic countries such as Pakistan, Bangladesh, India etc... If Saudi and other Oil rich Islamic countries keep prices low too long they risk a "Decline" in the free/subsidized housing, food, and all of life's desires of the General population; and possible associated revolutions/Coups by those same subsidized citizens.

    4. We hear often the statement that "The US Doesn't Have an Energy Policy". That is a misinterpretation. Our Energy policy since Johnson has been to keep the "Islamic Oil Producers" stable, not because of US direct interests - rather the goal is to ensure a stable Europe and Japan who must rely upon Oil imports to survive. We as a nation suffer the ravages of government monopolization of oil (passed off as "free market forces) in order to ensure National Stability for Europe and Japan. This policy since Johnson (yes the Dems & Repubs through each election cycle have tweeked it but maiintained it essentially intact), has resulted in an immense transfer of wealth from our US middle class to OPEC countries in exchange for their Oil. Our negative balance of Trade each year since Ford's presidency is the result of our "Oil Policy", which common wisdom says we do not have.

    5. We (US) could be totally energy self sufficient within 3 - 5 years if we simply had a congress (and President with moral authority) that would implement a Constitutionally allowed "Tarriff" on all oil imports. A properly structured Oil Tarriff would:

    a. stabilize US prices so that fracturing and other tertiary recovery methods would remain viable.
    b. stop the outflow of US capital to foreign governments (particularly Islamic states)
    c. stabilize "good" US middle class jobs associated with US energy industries
    d. remove US vulnerability (and political risk) to reliance on "Global Oil Resources" particularly OPEC producers
    e. Tarriff's collected from imported oil could be used to reduce the national debt (not subsidize the politicians deficit spending)
    f. As the middle class recovers, and less dollars flow to OPEC states, the US Treasury revenues would dramatically increase even with current or lower tax rates.

    For those who believe we will "Use up our Oil"; I have heard this all of my 6 decades of life. I remember at the age of 3 or 4 asking an "Oil Man" what would happen when we used up all of the "Dinosaur Oil". He said "Sonny, we will close oil wells, reopen them, close them, and reopen them again, over and over again as technology changes and prices go up over the next 500 years." He's long gone now, but his wisdom and insight are being proven with the current "Fracking" boom. (By the way, Fracking isn't new, it was developed in 1947. Americans ignorance causes them to think it's a new revolution of this century).

    Saudi Arabia does want to destroy the US resurgence in oil production; but they can not keep it up once they have depleted their many hundreds of Billions/Trillions in dollar reserves - for then there will be revolution and blood in their streets.
    Last edited by MUSTANG; 12-19-2014 at 10:47 PM.
    Mustang

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  9. #49
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    We should be stocking the strategic reserves with cheap Saudi oil, even expand them for the day the muslim countries decide they don't need the USA as a buyer anymore. Even with the backward thinking of Islam the standard of living is rising in a lot of mideast countries. Wipe ISIS out and get things settled down there and we could see them start to use more of their own oil and exporting less to us. So we are going to need our reserves in the future. Of course there are always the threat of new advances in electric car batteries with graphene being the new player promising smaller batteries with larger energy densities.

    No new taxes, lower prices are making it easier for the lower middle class and poor to maybe get ahead again instead of living paycheck to paycheck. Of course for congress that is not a good thing, dems for sure like us under their thumb being controlled! Hopefully this will hold into next year and bring food prices back down. So lower prices are good and bad depending on which side of the game you are on!

  10. #50
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    Low oil prices sounds great, until the economy follows it. What I want to know is why am I still paying 3.59 a gallon for diesel as of today? LOL

    What sucks is our fuel surcharge is based of the national (lower 48) average, and we NEVER get to within a dollar of those prices.

  11. #51
    Boolit Master



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    Quote Originally Posted by starmac View Post
    Low oil prices sounds great, until the economy follows it. What I want to know is why am I still paying 3.59 a gallon for diesel as of today? LOL

    What sucks is our fuel surcharge is based of the national (lower 48) average, and we NEVER get to within a dollar of those prices.

    Diesel prices are problematic because:

    1. The fleet of American trucks (North & Central & South America) were predominantly Gas powered up to 1970, and rapidly began to be replaced with diesel (much cheaper at that time than gas) during and after the OPEC oil embargo in the 1970's. This conversion coupled with the massive increase in numbers of trucks from the 1970's to now has created a situation where each gallon of diesel is in high demand.

    2. In the refining process diesel and heating oil are in the same region of the refinery stack. The expanding population from the OPEC oil embargo to now (particularly in the US North East and North Central regions) has resulted in an expanding requirement for Heating Oil (despite migration to other fuels such as Natural Gas).

    This keeps the availability of Diesel as a limited commodity during the cold part of the year when gas usually drops in price. In the warmer parts of the year, there is an increase of Truck traffic so we do not see a drop in Diesel prices as requirements for Heating Oil drop.
    Mustang

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  12. #52
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    Why do politicians give our tax money away to foreign countries and foreign criminals? Because they can.

    Why did the Zero force the ACA on the American citizen? Because he can.

    Why does the Federal gov't. choose not to enforce immigration laws? Because they can.

    Why do politicians violate their oath of office? Because they can.

    Why are the oil companies keeping the price of diesel high? Because they can.

    smokeywolf
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  13. #53
    Boolit Master
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    Excuse me, I don't care how low it goes. No one cares about us and how much we have to spend on any thing. If it gets cheap enough I can go back to South Dakota and shoot Prairie dogs again. Went in 98 and 2000. We were coming home at 2:00 am and the last gas stop was $ 1.79 . It has all ways rose since then.. Up, Up, and away...

  14. #54
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    Lots of manufacturers and all kinds of industries goes down with the oil industry right down to mom and pop businesses. It sounds good for the price of a tank of gas to be about the same as a couple packs of cigarettes, until you notice that nobody can afford that cheap gas. lol

  15. #55
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    The one thing that has never made sense to me is why does the size of the supply of oil make the price go lower or higher? Small, medium, or large suppy, when was the last time any of us pulled up to a pump and been told they were out of gas?
    East Tennessee

  16. #56
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    Quote Originally Posted by starmac View Post
    Lots of manufacturers and all kinds of industries goes down with the oil industry right down to mom and pop businesses. It sounds good for the price of a tank of gas to be about the same as a couple packs of cigarettes, until you notice that nobody can afford that cheap gas. lol


    Lets see. I don't smoke, but a pack of cigarettes is about $0.35 plus the Local/State/Federal Taxes hidden in the price is about $5.00 for a total price of ~$5.35 a pack. Yeah, let's do that to the price of gas too as they are now floating the balloon for since cost of gas is down for a short while.
    Mustang

    "In the beginning... the patriot is a scarce man, and brave and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot." - Mark Twain.

  17. #57
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    Mustang, I didn't say we would "use up our oil", I said it is good policy to use theirs up first.
    It is good policy to buy oil cheaper than you can produce it and maintain your own reserves in the ground while you do it. That is good economic policy and good long term national security strategy.
    If OPEC is going to make money selling their oil, I'd rather they be influenced by us than other powers. And I believe that the "government control" (whatever that is) over oil isn't nearly as strong as the private sectors' control over oil. That market is huge and there's only so much that national policy can influence.

  18. #58
    Boolit Grand Master
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    I have heard that 60% of jobs will be lost in the Bakken if oil stays under about $60/barrel. Same way with the SCOOP area in Oklahoma, which costs a bit more to drill than the Bakken. You lose so many high paying jobs in the oil patch, its going to affect other parts of the economy. The numbers on the economy have been running off of the oil patch good paying jobs. Then you have the gross production tax going to states, which is reduced, and royalty monies going to the feds from the gov't lands, it has been cut in half too. My Daughters boyfriend works in the Bakken. For how long, I don't know.

    It costs Saudi about $10 for each barrel, so they can keep it up for quite awhile @$60/barrel. They will still make alot of money. Not near as much as they were, but alot better than companies here.

    Been in the oil patch for about 40 years now, and have seen plenty of busts/booms. If we stop drilling like we are now, we will pay for it later. Enjoy your cheap gas.

    I know I have had a bunch of people calling wanting donations, but with what is going on, I have had to just about shut the wallet, with all this uncertainty. As said, low prices not only affect jobs, but all the money that is spent with other companies and businesses and especially this time of year, charities. Still give to food bank and the troops, but many others, sorry. I don't like it, but what can you do. When I have "extra" money, I try to help others. If I don't, I can't.

  19. #59
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    The price of oil being so low, will likely strain the green energy companies to the point of bankruptcy too, oh wait they went belly up with oil at an all time high. lol

  20. #60
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    Quote Originally Posted by rockrat View Post
    Enjoy your cheap gas.
    As said, low prices not only affect jobs, but all the money that is spent with other companies and businesses and especially this time of year, charities.
    Maybe it's because I live in California, but what cheap gas and low prices are you talking about?

    Even at today's prices, gas has gone up by 150% in the last 15 years and wages have pretty much stayed where they were.

    smokeywolf
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