Gas may drop to $1.25 per gallon

Gas may drop to $1.25 per gallon (Full Version)

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Vendaval -> Gas may drop to $1.25 per gallon (12/6/2008 12:07:12 AM)
Gas prices around the U.S. are falling and in one small town are down to $1.29 per gallon. Are you folks seeing a decline in gas prices in your states and towns? "Return to $1 gas? Energy prices evaporate" Friday December 5, 8:25 pm ET By Mark Williams, AP Energy Writer "Tom Kloza, publisher and chief oil analyst at Oil Price Information Service, said Thursday on his blog that retail prices could fetch $1.25 a gallon soon in parts of the Midwest, including Ohio, Indiana, Illinois and Missouri. Already, some parts of the country are seeing prices around that level. The Web site gasbuddy.com, where motorists can post local gas prices, motorists can fill up for $1.29 in Neelyville, Mo., a village of about 500 people near the Arkansas state line. The jobs number suggests that demand for gasoline, which has been running well below year-ago levels even with the cheaper prices in the last several weeks, will fall even more in early 2009 as work-related driving plummets, said Kloza." http://biz.yahoo.com/ap/081205/oil_prices.html

Lordandmaster -> RE: Gas may drop to $1.25 per gallon (12/6/2008 12:17:06 AM)
Three reasons for this, in descending order of importance: 1. The economy sucks and demand has shriveled. China, the other monster guzzler of fossil fuels, is slowing down too. 2. When gasoline was up in the $4-per-gallon range, consumers cut back by making permanent changes to their routine. In former times energy companies were aware of this danger to long-term profits and were therefore wary of keeping prices high for very long. This time around, they got greedy. Heh, I can see it now, maybe sometime around 2010: a bailout for oil companies! 3. There must have been SOME degree of speculation in the oil market.

Vendaval -> RE: Gas may drop to $1.25 per gallon (12/6/2008 12:19:57 AM)
All 3 make sense to me, LAM.

popeye1250 -> RE: Gas may drop to $1.25 per gallon (12/6/2008 12:26:30 AM)
I bought Premium at $1.74 a gal yesterday. And yes, there was a lot of speculation!

pahunkboy -> RE: Gas may drop to $1.25 per gallon (12/6/2008 4:19:52 AM)
Not really. thus is all being done by design. the elite are crushing Saudi Arabia, China and the middle class of America. this means that the $4 a gall gas, is not buying US debt. THINK. it is OVER! no country currency today is backed by gold. the other day gold made a historical point. the technicals read, that we will enter where no amount of money will buy it! enjoy the 1.25. i wish i had the body to make a trip. all hell is going to break loose in 6 months.(to a year) http://news.goldseek.com/GoldSeek/1228499200.php read about the historical signif of gold here, per the other day

DarkSteven -> RE: Gas may drop to $1.25 per gallon (12/6/2008 4:45:11 AM)
I have no clue why/how the prices dropped so much. But considering who gets the money for crude (Hugo Chavez and the volatile Arab countries), I'm glad it did.

pahunkboy -> RE: Gas may drop to $1.25 per gallon (12/6/2008 5:01:44 AM)
consider 8 trillion $, that we carry notes on. which country has it????? none. USA RIP

CatdeMedici -> RE: Gas may drop to $1.25 per gallon (12/6/2008 5:04:40 AM)
I actually think LAM that your item #3 is the reason that most of our economy is in the s can.

slaveluci -> RE: Gas may drop to $1.25 per gallon (12/6/2008 5:58:38 AM)
It's $1.33 at our local station near North Little Rock, AR...................luci

windchymes -> RE: Gas may drop to $1.25 per gallon (12/6/2008 6:39:29 AM)
Prince William County, VA, $1.57 but I was home all day yesterday. They might have dropped more since then. I, for one, am ecstatic. Last summer, when I made the 6 hour drive to another state to see my (adult) kids, the gas for the trip ran me about $250. Now....psshaw! Mommy's comin' home for Christmas!

Sanity -> RE: Gas may drop to $1.25 per gallon (12/6/2008 7:06:35 AM)
I went tent camping in a little mid-size car through the Yellowstone and the Grand Teton National Parks last summer when gas was between $4.00 and $4.50 / gallon, and it was nice because there were very few motorhomes in our way. The crowds and the traffic weren't bad at all, and I was really loving that but I just knew at the time that the high fuel prices were going to cause a pretty deep recession, and all the Liberals at the time were of the opinion that things would be fine, because everyone needed to learn to conserve anyway. Well, here we are in a deep recession.. learning to conserve. [8\|] Factories are shutting down, people are getting laid off... Yep, we're going green, alright... how's it feel?

Owner59 -> RE: Gas may drop to $1.25 per gallon (12/6/2008 7:19:53 AM)
That`s the republican version of "going green". lol.And with your guy still doing damage,things could get a lot greener,lol ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Could go under a dollar,I heard. But it can go back to 4 dollars (or 5 or more) in a heartbeat,though. The challenge with be providing leadership to do the things we know we need to do,in spite of the price of energy(or what conservatives say). What we need is stability and less volatility.Way less volatility.It`s a national security issue and should be looked at in that way. The job starts at home with developing alternatives,conservation,a new electric grid (to stabilize and distribute power nationwide,efficiently)for connecting solar stations/farms and the private solar panels together,clean coal and natural gas production.

DDraigeuraid -> RE: Gas may drop to $1.25 per gallon (12/6/2008 7:28:39 AM)
The price dropped about a dime yesterday, to 2.59. Still too high, but way better than the 4.80 we were paying last summer. Dragon

Lorr47 -> RE: Gas may drop to $1.25 per gallon (12/6/2008 7:36:37 AM)
quote: ORIGINAL: DarkSteven I have no clue why/how the prices dropped so much. But considering who gets the money for crude (Hugo Chavez and the volatile Arab countries), I'm glad it did. See the entry on this thread from Lordand master!!!

pahunkboy -> RE: Gas may drop to $1.25 per gallon (12/6/2008 7:48:33 AM)
men like chevas are actually doing their job. they are the bad guy simply because the grid is not allowed to swindle their money.

Sanity -> RE: Gas may drop to $1.25 per gallon (12/6/2008 8:30:46 AM)
These lower oil prices are like a knife to Chavez's throat. He was using his ill-gotten oil money to buy votes from the poor. What's he going to do now? His little socialist experiment is going to blow up in his face without oil subsidies to fuel it (so to speak).

Maya2001 -> RE: Gas may drop to $1.25 per gallon (12/6/2008 8:59:42 AM)
Months ago Saudi Arabia said they would start pumping out extra oil and were arguing with other oil producing nations to do the same ..they were quite well aware that if the US economy fell ..closing industry then other countries would fall as well and that would lower global demand tremendously which would in turn hurt them so they were well aware that by keeping the supply limited and the barrel price high would have a negative impact of oil producing countries eventually and by dropping the price dramatically it would help stimulate economies again and avoid a major recession/depression.......the large drops in prices are also a reflection of the happiness in seeing Obama get elected on the global front they had refused under Bush http://www.eia.doe.gov/emeu/cabs/Saudi_Arabia/pdf.pdf Production Capacity Saudi Arabia maintains the world’s largest crude oil production capacity, estimated to be around 10.5 - 11 million bbl/d, at mid-year 2008. In 2005, Saudi Arabia’s Ministry of Petroleum and Mineral Resources announced the details of a plan to increase this capacity to 12.5 million bbl/d by 2009, the detail of which are outlined below.

pahunkboy -> RE: Gas may drop to $1.25 per gallon (12/6/2008 10:29:05 AM)
Saudi can do what it wants. 1. the other opec arent going to follow thru. 2. we have tons of crude in prudeau bay Alaska. (contrary to what one may think)

DarkSteven -> RE: Gas may drop to $1.25 per gallon (12/6/2008 10:54:31 AM)
quote: ORIGINAL: Sanity These lower oil prices are like a knife to Chavez's throat. He was using his ill-gotten oil money to buy votes from the poor. What's he going to do now? His little socialist experiment is going to blow up in his face without oil subsidies to fuel it (so to speak). He's actually been throwing his weight around outside the country as well as inside. If he can't buy the people, I expect him to coerce them. I'm sure glad I don't live in Venezuela right now, It's gonna get ugly.

TribeTziyon -> RE: Gas may drop to $1.25 per gallon (12/6/2008 11:06:25 AM)
1.63 Twin Cities MN

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