Gas prices WILL go lower...

[vinman]

Originally Posted by =Stephens=

If anyone remembers the Gulf war in 1991, gas went down to .79 cents a gallon.

Haha, I was in the war, so never saw prices, just lots of rigs on fire wasting oil, lol

[blizzpat]

The US sits on the biggest reserve of oil in the entire world, yet environmentalists don't want to drill. Here in C. America 95 (equivalent to your 93) is at 4.30 a gallon. 91 is frozen at about 4.00/gallon and diesel is at 3.87

[camaroqueen]

Here in Indiana our diesel cost more than our regular - go figure!
Today our prices jumped to $4.20 for the low grade!

[OrangeVert]

One thing about gas price I can "guar-on-tee": no amount of increase will deter me from buying and owning OrangeVert!! Even if I only drive it once a month, s/he will look just as nice sitting in the garage as s/he will going down the road! Maybe I need to look for, or start, a "low use tips" thread.

I don't think I will ever get tired of looking at those beautiful red SS emblems even in the garage!! Perhaps this is the definition of insanity, well if so then I've arrived!

[Fogey]

if he announces he is going to allow drilling in ANWAR, or on the California coast, or where ever. Speculators are looking way out there and will sell. Several months ago, I went long on oil and have done well. But when Obie says, i'm opening oil exploration, I'm out of there.

[Kurushio]

In town prices were 3.99 but once i got out it was usually about 3.89. If only to go back to 2.00 a gallon again lol. Probably spend 350-400 a month in gas right now!

[swagled]

I do not think this year is all from speculation.

We have India and China adding drivers, (GM itself selling batallions of cars in China). Middle East political upheaval. Political jitters in Nigeria too (another important producer). Plus the Fed printing money like they're smothering a forest fire with it. And on top of it all, Peak Oil is looming. (I favor the "bumpy plateau" theory if you've also been reading TheOilDrum.)

Let's just hope no hurricanes in the Gulf again. You COULD NOT BUY gas in Charlotte for several days when Gustav hit the Gulf refineries. Took at least a month for all the spotty shortages to work themselves out... pull up to a station and you just buy whatever grade they had available.

[14pilot]

That article in post #1 was written on March 3rd. As of today, economists are saying gas prices are going to stablize soon and remain high, provided that no more Middle East erruptions happen. Groan...

[Kurushio]

Im sure somehow someway it will magically hold at around 4 till maybe after the summer or some stability in the middle east.

[BubbaSS]

Originally Posted by Cam2011

Don't buy into all the bullshit, the middle east and the OPEC nations have little or nothing to do with modern day gas prices, and articles like the one linked on the first page claiming unrest in the middle east will determine the rise or fall of the price of gas, that theory is wrong. Though supply and demand does play a part, but not as big a part as one would imagine, the absolute real reason that gas prices have gone through the roof is WALL STREET, and the fact that W in his first act as president deregulated the petroleum futures basically making them fair game much like coffee and other commodities, since then Wall Street and its investors have been steadily buying petroleum futures driving up the cost per barrel. Regulate Wall St and you regulate gas, but sadly even the current administration is not willing to do so as Wall St is too powerful. Look back at the historic prices of gas and see just how long it took to reach even $2, then fast forward to 2001, and see what sort of rise it has done from then to now. Wall Street.

Sorry to bring politics to Cam5.

I agree with this 100%, it's evident after the oil spill in the Gulf and BP can throw 41 billion to clean it up...What other company on the planet can throw away 41 billion and still survive? And guess what, they got 13 billion in tax breaks, so we got to pay for the cleanup and higher gas prices as well

[a_Username]

This thread is just awful.

[cab2g]

Originally Posted by BubbaSS

I agree with this 100%, it's evident after the oil spill in the Gulf and BP can throw 41 billion to clean it up...What other company on the planet can throw away 41 billion and still survive? And guess what, they got 13 billion in tax breaks, so we got to pay for the cleanup and higher gas prices as well

any of these companies:


RANK COMPANY COUNTRY INDUSTRY SALES ($BIL) PROFITS ($BIL) ASSETS ($BIL) MARKET VALUE ($BIL)
1 HSBC Holdings United Kingdom Banking 146.50 19.13 2,348.98 180.81
2 General Electric United States Conglomerates 172.74 22.21 795.34 330.93
3 Bank of America United States Banking 119.19 14.98 1,715.75 176.53
4 JPMorgan Chase United States Banking 116.35 15.37 1,562.15 136.88
5 ExxonMobil United States Oil & Gas Operations 358.60 40.61 242.08 465.51
6 Royal Dutch Shell Netherlands Oil & Gas Operations 355.78 31.33 266.22 221.09
7 BP United Kingdom Oil & Gas Operations 281.03 20.60 236.08 204.94
8 Toyota Motor Japan Consumer Durables 203.80 13.99 276.38 175.08
9 ING Group Netherlands Insurance 197.93 12.65 1,932.15 75.78
10 Berkshire Hathaway United States Diversified Financials 118.25 13.21 273.16 216.65
10 Royal Bank of Scotland United Kingdom Banking 108.45 14.62 3,807.51 76.64
12 AT&T United States Telecommunications Services 118.93 11.95 275.64 210.22
13 BNP Paribas France Banking 116.16 10.71 2,494.41 81.90
14 Allianz Germany Insurance 139.12 10.90 1,547.48 80.30
15 Total France Oil & Gas Operations 199.74 19.24 165.75 181.80
16 Wal-Mart Stores United States Retailing 378.80 12.73 163.38 198.60
17 Chevron United States Oil & Gas Operations 203.97 18.69 148.79 179.97
18 American Intl Group United States Insurance 110.06 6.20 1,060.51 118.20
19 Gazprom Russia Oil & Gas Operations 81.76 23.30 201.72 306.79
20 AXA Group France Insurance 151.70 7.75 1,064.67 70.33

[BubbaSS]

Originally Posted by cab2g

any of these companies:


RANK COMPANY COUNTRY INDUSTRY SALES ($BIL) PROFITS ($BIL) ASSETS ($BIL) MARKET VALUE ($BIL)
1 HSBC Holdings United Kingdom Banking 146.50 19.13 2,348.98 180.81
2 General Electric United States Conglomerates 172.74 22.21 795.34 330.93
3 Bank of America United States Banking 119.19 14.98 1,715.75 176.53
4 JPMorgan Chase United States Banking 116.35 15.37 1,562.15 136.88
5 ExxonMobil United States Oil & Gas Operations 358.60 40.61 242.08 465.51
6 Royal Dutch Shell Netherlands Oil & Gas Operations 355.78 31.33 266.22 221.09
7 BP United Kingdom Oil & Gas Operations 281.03 20.60 236.08 204.94
8 Toyota Motor Japan Consumer Durables 203.80 13.99 276.38 175.08
9 ING Group Netherlands Insurance 197.93 12.65 1,932.15 75.78
10 Berkshire Hathaway United States Diversified Financials 118.25 13.21 273.16 216.65
10 Royal Bank of Scotland United Kingdom Banking 108.45 14.62 3,807.51 76.64
12 AT&T United States Telecommunications Services 118.93 11.95 275.64 210.22
13 BNP Paribas France Banking 116.16 10.71 2,494.41 81.90
14 Allianz Germany Insurance 139.12 10.90 1,547.48 80.30
15 Total France Oil & Gas Operations 199.74 19.24 165.75 181.80
16 Wal-Mart Stores United States Retailing 378.80 12.73 163.38 198.60
17 Chevron United States Oil & Gas Operations 203.97 18.69 148.79 179.97
18 American Intl Group United States Insurance 110.06 6.20 1,060.51 118.20
19 Gazprom Russia Oil & Gas Operations 81.76 23.30 201.72 306.79
20 AXA Group France Insurance 151.70 7.75 1,064.67 70.33

Right, you give a list that consists of other oil companies and banks. Not a surprise, you might have taken my response too literally in regards to BP...I know that if Exxon did the same thing they'd have 40 billion to fork over as well

[cab2g]

hey there's a few real companies on there.... GE, Toyota, Berkshire Hathaway, AT&T, Wal-Mart.... Anybody in the top 50 could probably drop 40 billion and survive. My point was that there is really a lot of money going around in the world and 40 billion for the 7th biggest company in the world really isn't that much.

It makes me sad that most of the top companies aren't in the business of producing anything, but just owning things and charging people money to use what they own. But that's another story.