The Notorious Posted December 17, 2014 Share Posted December 17, 2014 Russians are desperately buying up everything they can find with the collapsing rubles: http://www.nytimes.com/2014/12/17/world/europe/as-the-ruble-swoons-russians-desperately-shop.html?_r=0 Link to comment Share on other sites More sharing options...
A True Kaniggit Posted December 17, 2014 Share Posted December 17, 2014 $2.12 is the lowest I've seen in San Antonio. And the price keeps on dropping 3 cents every four days or so. I wonder when it'll bottom out. Link to comment Share on other sites More sharing options...
Tears of Lys Posted December 17, 2014 Share Posted December 17, 2014 Tthey're saying that it has bottomed out today. Link to comment Share on other sites More sharing options...
SkynJay Posted December 18, 2014 Share Posted December 18, 2014 I want to say I remember paying around 79 cents around 2000 in Indiana... but that might have been a dream...I started driving in 97. I want to say it was around 99 that prices fell below a buck for the last time. Link to comment Share on other sites More sharing options...
A True Kaniggit Posted December 20, 2014 Share Posted December 20, 2014 Not really connected to the price of oil, but someone at this gas station must have missed a zero this morning. Just put 10 gallons in my car for $2.17. Link to comment Share on other sites More sharing options...
Fragile Bird Posted December 20, 2014 Author Share Posted December 20, 2014 Not really connected to the price of oil, but someone at this gas station must have missed a zero this morning. Just put 10 gallons in my car for $2.17. Lol, someone's in a whole heap of trouble once that gets out.... Link to comment Share on other sites More sharing options...
A True Kaniggit Posted December 20, 2014 Share Posted December 20, 2014 Lol, someone's in a whole heap of trouble once that gets out.... Yep. First thing I did was send a mass text to everyone i knew in the area. Link to comment Share on other sites More sharing options...
A True Kaniggit Posted January 8, 2015 Share Posted January 8, 2015 $2.12 is the lowest I've seen in San Antonio. And the price keeps on dropping 3 cents every four days or so. I wonder when it'll bottom out. So 3 weeks since December 17 and gas prices are now $1.91 here. My mom tells me they are down to $1.78 back home in Louisiana. Anyone else kinda hoping the price will quit dropping so it won't be as much of a shock when the cost of fuel begins to go up again? Tthey're saying that it has bottomed out today. I'm kind of devastated that you felt the need to lie to me ToL :bawl: . Link to comment Share on other sites More sharing options...
Fragile Bird Posted January 8, 2015 Author Share Posted January 8, 2015 They say oil, which closed at $48.65 today, may fall into the $30s... Link to comment Share on other sites More sharing options...
QuietColours Posted January 8, 2015 Share Posted January 8, 2015 Prices just spiked here--from $1.76 to $2.09. Link to comment Share on other sites More sharing options...
Tears of Lys Posted January 8, 2015 Share Posted January 8, 2015 So 3 weeks since December 17 and gas prices are now $1.91 here. My mom tells me they are down to $1.78 back home in Louisiana. Anyone else kinda hoping the price will quit dropping so it won't be as much of a shock when the cost of fuel begins to go up again? I'm kind of devastated that you felt the need to lie to me ToL :bawl: . Did I say that? :P What the hell do I know. If I were **that** certain, I would have scooped up some oil stocks. Now I wish I would have shorted them. :( Link to comment Share on other sites More sharing options...
Tears of Lys Posted January 8, 2015 Share Posted January 8, 2015 I filled up for $1.57/gallon today. I need to talk to my friends working the oil fields around here to see if the falling energy prices are causing them to worry about layoffs. From what I've read, we're quickly approaching the break even point where shale extraction will no longer be profitable. I can't help but think that the bolded above is exactly the goal of the "oil powers-that-be." Link to comment Share on other sites More sharing options...
A True Kaniggit Posted January 8, 2015 Share Posted January 8, 2015 Did I say that? :PWhat the hell do I know. If I were **that** certain, I would have scooped up some oil stocks. Now I wish I would have shorted them. :(Meh. I wouldn't worry about it if I were you. I'm sure I'll get over being devastated eventually :D . Link to comment Share on other sites More sharing options...
3CityApache Posted January 8, 2015 Share Posted January 8, 2015 They say oil, which closed at $48.65 today, may fall into the $30s... I wouldn't count on it. I think the bottom line for Brent crude oil lays somewhere between $40 and $50. But I think the more important question is how long is it gonna last. I mean oil prices below $60. Because oil is going to recover to at least $80-$100, eventually. But will it be this year, next year, later? we're quickly approaching the break even point where shale extraction will no longer be profitable. As for who is gonna suffer the most, the cost of unconventional oil (which is mostly produced in US and Canada) is generally higher than the cost of conventional oil, but it is also much more flexible. Which means, that US producers might reduce substantially the number of rigs in the face of today's oil prices (it's already happening), but they will also be able to relatively quickly restore their production once the prices go up to the satisfactory level, unlike, say, Russian producers, hit by weak oil prices, and additionally Western sanctions and weak currency. Link to comment Share on other sites More sharing options...
Jaxom 1974 Posted January 8, 2015 Share Posted January 8, 2015 Prices just spiked here--from $1.76 to $2.09.We saw about a 30 cent jump after the first of the year in some areas, but that was due to various changes in taxes. It's already drifted back down about 6 or 7 cents in some areas. Of course, it always goes down much slower than it goes up. Link to comment Share on other sites More sharing options...
Commodore Posted January 8, 2015 Share Posted January 8, 2015 falling food and energy prices are the best thing that can happen to humanity Link to comment Share on other sites More sharing options...
The Iceman of the North Posted January 8, 2015 Share Posted January 8, 2015 falling food and energy prices are the best thing that can happen to humanity Only if you live in the GOP delusional world were human action won't affect nature. Link to comment Share on other sites More sharing options...
Commodore Posted January 8, 2015 Share Posted January 8, 2015 nature exists to be affected primitivism is inhumane Link to comment Share on other sites More sharing options...
A True Kaniggit Posted January 8, 2015 Share Posted January 8, 2015 Only if you live in the GOP delusional world were human action won't affect nature. I know what you're thinking, 'cause right now I'm thinking the same thing. ... been thinking it ever since I got here: Why oh why didn't I take the BLUE pill? Link to comment Share on other sites More sharing options...
Recovering forum addict Posted January 8, 2015 Share Posted January 8, 2015 This ought to be the ideal time to drastically raise carbon taxes all over the world. People won't whine as much when the oil prices are at a historical low point. Link to comment Share on other sites More sharing options...
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