Just paid 1.139 for gas!

[GRIM]

That's the cheapest I've paid for gas in a LONG time!

[bighunanballs]

wtf!? i thought we had it cheap for 1.69

[Juiced]

Ours is 1.65 here in the midwest.

[GRIM]

It's actually 1.99 but one station has it for 1.94 and that station is owned by the grocery store who gives points. I had 80 some cents in points so got it a bit cheaper :D

Damn now I feel ripped off seeing how low your norms are!

[Juiced]

HAHA!!!

[Buck Wild]

Think we are around 1.80 1.85 in the south. Makes me happy my fuel bill has been 3 grand a month for some time now.

[GRIM]

Think we are around 1.80 1.85 in the south. Makes me happy my fuel bill has been 3 grand a month for some time now.
Yeah that's gotta save you a ton a month! Time to buy some toys!

[bighunanballs]

It's actually 1.99 but one station has it for 1.94 and that station is owned by the grocery store who gives points. I had 80 some cents in points so got it a bit cheaper :D

Damn now I feel ripped off seeing how low your norms are!

ha!

i wouldnt go off and by that v10 excursion though! gas prices will be rebounding pretty hard. id be willing to bet we'll see $5-6 before all the dust settles from this one

[Juiced]

If the off shore drilling ban does not come back I think we will be ok.

[GRIM]

The offshore drilling wont do much if anything to the price of gas here, experts a crossed the board have stated as much. That has absolutely nothing to do with why prices are down atm.

[bighunanballs]

the problems arise when the small (offshore) O&G companies are unable to fund new ventures like deepwater exploration and drilling. Or new process technologies for refining sour products. The large opec (as bad as i hate Opec) nations can not fund the massive design and engineering ventures that the US is able to design all over the world. this accounts for hundreds of billions of dollars in the US. This is money that drives our economy and keeps many americans fed. in a an economic slow down such as this, crude prices dropping is very bad news. You make it seem as though The O&G industry is strictly related to Opec, which is not true. yes they are the major player in our crude prices, but they also drive the American economy a significant amount. What we should have done is forecasted smarter and put regulations on the investors that were buying up "futures" on wall street. its not opec thats gonna suffer as much as it will be the American people on this account. the cost of crude is in fact nowhere near where it should be given the market and current US inflation numbers. I do agree however, that our dependence on Opec is absurd. we need to allow for government allowance to fund more options here at home. Its just not possible however, given the economic crisis we are in, not to mention funding the war, as well as the ridiculous credit crunch we experiencing (lol lets not even start on that topic!) lol.

[bighunanballs]

as much as I hate to see strict govt regs in the marketplace. O&G is one sector that needs more regulation on wall street. the culprit for our deminishing crude values is these dumb shit investors on wallstreet that were artificially keeping demand high when it was not. now that the supply and demand curve is completely out of scope the dwindling values are dropping; I fear the rebound will be exponentially(sp) worse now.
Opec is cutting production to alleviate the diminishing crude values, so when demand rebounds, the value of crude will spike up drastically. but supply will still be low, this is how Opec will yet again squeeze the hell out of the American economy. Im honestly expecting to see 4-6 dollars a gallon when the dust settles from this one.

[GRIM]

In any event it sucks and we the people have basically no control over it.

[Juiced]

Its called suppy and demand.

[GRIM]

Supply and demand has some to do with it, future traders however have had more of a hand, plus OPEC changing the supply at whim.

The offshore drilling is there isn't nearly as much domestically as you'd think. It also makes us weaker in the long term using up our own oil 'the little we do have' plus it's also much more expensive for us to extract the oil here than it is for other countries to in most all circumstances.

[Juiced]

We have more than what you think. Not just offshore or being crude , We have shale(sp) oil also. You dont think BP put a lease on 63 million acres in Alaska just to have the land?

[GRIM]

We have more than what you think. Not just offshore or being crude , We have shale(sp) oil also. You dont think BP put a lease on 63 million acres in Alaska just to have the land?
Even with shale we can only get a small fraction of what is there.
I have looked into this multiple times in the past, we have a very, very small amount that we can actually get to in terms of what we actually use.

[bighunanballs]

this is o&g technologies are crucial. its hard to extract, yet alone refine these types of oil. canada is sitting on a gold mine in the tarsands. problem is refining such hydrocarbons is too costly to do right now, until we develop new process technology.