Oil Drop

[Reid]

$49.65 a barrel

hmm...i missed that. i was logging in the post that it was 50.59 as of this afternoon.

it's up just lil from last week, but i think it still has some dropping to do. i think it will bottom out around $45.00

 

[drkelly]

$46.96

 

[Reed]

$44.80, lowest its been since I've been driving

 

[Reid]

"we'll never see $40 oil again"

~T. Boone Pickens.

 

[Reed]

43.67 at close...... Dkelly, whats should that equate to for gas prices?

 

[Reid]

we'll see it at the dollar mark. when is anyones guess.


Iran has announced it expects oil to drop to $30. they are in some economic trouble because they budgeted for $140 a barrel then the bottom fell out! thats why they were so eager to have opec cut production.

the low price of oil is a good thing for american safety. Iran and Russia will have a hard time funding their militaries now.

 

[willness33]

we'll see it at the dollar mark.

That would make me

Hell, I'm already ing

 

[Reid]

no kidding, im wheeling this weekend for the first time in 7 months!

 

[BugNut1228]

no kidding, im wheeling this weekend for the first time in 7 months!

First time you've been able to afford to go and they're about to close for the season!

 

[rockmafia]

$44.80, lowest its been since I've been driving

Not been driving long, eh?
http://www.ioga.com/Special/crudeoil_Hist.htm

 

[Reid]

http://www.foxnews.com/story/0,2933,462284,00.html

new prediction, below $25.00 and gasoline below $1.00.

 

[Reed]

Not been driving long, eh?
http://www.ioga.com/Special/crudeoil_Hist.htm

Uh yea, I'm only 21 and I got my lisence late?


Edit: ok so there are 3 months that I had been driving that oil was lower

 

[drkelly]

It has broken below the $40/barrel barrier.

$37.85 at lunch time today.

$1/gallon gas is just ahead.

 

[Chris_M]

Don't know about anywhere else, but gas prices went UP on base this week! WTF

 

[Reid]

Don't know about anywhere else, but gas prices went UP on base this week! WTF

The stores were worried that Opecs 2million barrel per day reduction was going to affect the market.


it didnt.

the prices will come back down.

 

[Rox&Mud]

Here's a different thought. How long will it be before the oil companies start whining about their losses after reporting record profits for the last couple of years. It wouldn't suprise me if they want some government bailout money as well.

hadnt thought about that. the gov't is probably stupid enough to give them money too.

The real question is how long will the government go before they start looking for ways to "reclaim" their tax loss due to the variable tax rates falling revenue. This will probable be a farce because people will begin to drive again with low prices therefore more or less maintaining the revenue stream.

 

[Reid]

$35.17

 

[blazeproc]

^^^^^The DOT is already discussing the posibility of a mileage tax. When you renew your inspection or liscense plate then you will get taxed on the amout of miles between new and old.

 

[Reid]

yeah, still trying to figure out a way around that. i dive waaaaaaayyyy too much.

 

[rockmafia]

yeah, still trying to figure out a way around that. i dive waaaaaaayyyy too much.

Unhook your speedometer cable, or buy another gauge cluster to swap in and out when you get it inspected.

 

[highrollintj]

is diesel ever expected to drop below $2.00?

 

[Reid]

^^^ eventually, but fuel would need to be below a dollar. when it does,it will only be brief.