Gas going down

Discussion in 'Off-Topic' started by Paladin06, Jan 18, 2016.

  1. Paladin06

    Paladin06 Have Guns Will Travel Staff Member Hellcat Car Club Gold Supporting Member

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  2. BULL

    BULL ________173.7mph_______ ___2016 Colorado Mile___ Gold Supporting Member

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    The year I got out of the Marine Corps, 1989, gas briefly dropped to $1 (in California!), that's the last time I seen anything that low, until now...
     
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  3. PlumTexasCrazy

    PlumTexasCrazy HELLCAT LIFE MEMBER Hellcat Car Club HCC Charter Member

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    Great!!
     
  4. Paladin06

    Paladin06 Have Guns Will Travel Staff Member Hellcat Car Club Gold Supporting Member

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    Not if you're in the oil business. I read today where BP is laying off 5% of it's work force.
     
  5. 70Cuda

    70Cuda Yep, its got a HEMI

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    The are not lowering the price of premium as much, its as much as 85 cents per gallon more than 87. used to be 30-40 cents more.
     
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  6. BULL

    BULL ________173.7mph_______ ___2016 Colorado Mile___ Gold Supporting Member

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    I wouldn't dare pick a specific price, but somewhere in the middle of the +$110/bbl that we were at and where we are at now makes sense for our economy. You may love it at the gas pump, but I bet you will hate what it does just about everywhere else.

    If we hit $10/bbl as suggested by some, look out, we will all be hurting...
     
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  7. PlumTexasCrazy

    PlumTexasCrazy HELLCAT LIFE MEMBER Hellcat Car Club HCC Charter Member

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    Sorry, just meant my shell nitro 93oct will be cheap!!
     
  8. Aarcuda

    Aarcuda Gold Member

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    whoa wait a minute. when gas went up after bushes term, everyone blamed obama and bitched about the price of gas. Then they bitched about the price of food because it went up because gas went up. and all the other side effects they blamed on rising gas.

    so now everything should drop back down. food, energy, the whole kit and kaboodle.

    they only people bitching should be the gas and oil workers but they made a fortune these past 8 years. hope they saved it up!
     
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  9. 1FSTCAT

    1FSTCAT The Punisher

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    While it sucks for folks to get laid off, I'm wondering why those huge energy corporations didn't stick aside some funds when they were posting 9 BILLION dollar quarterly profits. Those workers should be looking at the very companies that were previously blowing the top off profits even in a recession.

    When this all flips back to three and four dollar a gallon gas...wonder what we'll be saying.

    If a price war can cause a station to sell at $ .47 while the average in the area is $1.30...how much profit is built into that gallon???
     
  10. Hellcat15

    Hellcat15 Silver Member

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    Exactly. They made their money, now let us keep some of ours.

    I'm sure it'll turn around soon enough and we'll be back up to $4 or more a gallon anyway.

    Suburban Chicago 1.79 reg and 2.39 premium today. By the time we take the Hellcats out of hibernation we'll be close to 3 for sure.
     
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  11. BULL

    BULL ________173.7mph_______ ___2016 Colorado Mile___ Gold Supporting Member

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    Gentlemen, keep in mind that the price of crude and the price we pay at the pump are only loosely tied to each other. If there was a direct correlation, gas would be 1/5 of what it was last year...
     
  12. 1FSTCAT

    1FSTCAT The Punisher

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  13. BULL

    BULL ________173.7mph_______ ___2016 Colorado Mile___ Gold Supporting Member

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    It's definitely not a 1 to 1 ratio, as I said above, if it were, we would be paying 1/4 to 1/5 of last years pump prices.

    In any case, I personally believe that the collapse of the oil market will affect us all poorly...

    Mind you, I'm not asking for it to go back up to crazy high prices or do I feel that BP or any other oil company needs to bend us over the bbl (punn intended...)
     
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  14. 1FSTCAT

    1FSTCAT The Punisher

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    Nope, but 71% is a pretty big portion of the pricing index. Regardless, if fact that we all of sudden have a glut of oil, and more to come (Iran), they can all go suck an egg for the years they (insert domestic and foreign oil company here) clearly overcharged. You make 9 BILLION dollars in a quarter (one company EXXON), life is pretty good. They just posted 4.2 BILLION 3rd quarter 2015 earnings and will lay off 10%??? They are distributing 3.6 BILLION...BILLION...BILLION to share holders in the same quarter.
     
  15. BULL

    BULL ________173.7mph_______ ___2016 Colorado Mile___ Gold Supporting Member

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    All valid points...

    BTW, Iran is going initially produce 500K bbl/day and then subsequently 1m bbl/day, it is a tiny percentage of the world's production, why is there so much hype around its affect on the market???

    Media likely..
     

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