At this point I might as well buy a barrel and just save it.
[QUOTE=yodafart9;46865587]At this point I might as well buy a barrel and just save it.[/QUOTE]
"What's that in the back of the closet Grandpa?"
"It's my reserve oil, from during the fuel depression. Now get back to your newfangled atomic skatecars."
[QUOTE=sloppy_joes;46865171]supply and demand?[/QUOTE]
Yeah, right. $.30 cheaper 15 miles up the road in any direction. The station owners in town know they can gouge because students won't leave town to fill up.
[QUOTE=Antdawg;46865182]This certainly isn't good for the US. There's a reason why OPEC decided to not cut supply, and that is because they are deliberately trying to drive oil prices down to a level where the US simply cannot compete. If the OPEC can maintain that, it could threaten domestic industry and net exports in the US. Not to forget the impact on government revenue, which pays for things such as social services. Oh wait I can still go on because, at least in the short term, this would possibly reduce demand for clean energy sources.[/QUOTE]
It doesn't matter how low the price gets.
It's a matter of strategic concern to the US. They will keep throwing money over at the production of oil, just like they did with Pan Am during the 20's and 30's. Obama is not a fucktard and its administration neither, so they know the implications.
Look at how the OPEC are bitch fighting against each other over how they should set the price or how much barrels should they let into the market. There was a thread a while ago here that showed at what price the barrels should be for the oil industry to be profitable in the OPEC countries.
It's something that not even Mastercard can buy.
While we're talking about this, what's was that theory that said something along the lines of "The cheaper a contaminating energy source gets, the more fucked up we are"?
[QUOTE=itisjuly;46865055]How much is a barrel(in capacity, not price)?[/QUOTE]
42 gallons.
$2.09 here in North Georgia
Took the old Forerunner out the other day and brought it from almost empty to full for $20, hell I'm happy
[QUOTE=yodafart9;46865587]At this point I might as well buy a barrel and just save it.[/QUOTE]
Don't do that lol. You can't store oil like that for very long. Thats why they bring the oil here as crude oil before turning it into the stuff you get at the pump.
[QUOTE=Michael haxz;46867730]$2.09 here in North Georgia
Took the old Forerunner out the other day and brought it from almost empty to full for $20, hell I'm happy[/QUOTE]
It's just under $3 here in the Peoples Republic of NY.
what happen if it goes to 1 zimbabwean dollar per barrel???
[QUOTE=Bredirish123;46865052]Hip Hip....Hooray??
I legitimately ask this as a question. The reason being is that although this is a great thing in the short term what consequences will there be in the future?
Don't get me wrong, I have been making enjoying the cheap fillups at the pump, but I sense that this will possibly lead to problems later.[/QUOTE]
Say goodby to green energy incentives, the US gas boom and many many more industries and say hello to a dead end that's approaching faster.
[QUOTE=Killuah;46868083]Say goodby to green energy incentives, the US gas boom and many many more industries and say hello to a dead end that's approaching faster.[/QUOTE]
what? you're saying they're going to ditch all green energy incentives and get back to oil because the oil price is lower?
[QUOTE=Elexar;46868095]what? you're saying they're going to ditch all green energy incentives and get back to oil because the oil price is lower?[/QUOTE]
Not all. But with prices that low Oil heating is feasible again for example where before lots of people were switching to gas heating which can also be run by organically produced gas. Just an example.
[QUOTE=Killuah;46868115]Not all. But with prices that low Oil heating is feasible again for example where before lots of people were switching to gas heating which can also be run by organically produced gas. Just an example.[/QUOTE]
oil prices are dropping because of the low demand, once people switch back to oil the price will climb again. that's a vicious cycle only a few will take part of, really.
[QUOTE=Elexar;46868123]oil prices are dropping because of the low demand, once people switch back to oil the price will climb again. that's a vicious cycle only a few will take part of, really.[/QUOTE]
No they aren't.
They are dropping because the Saudis concluded that they will keep up pumping a lot and Iraq is selling like mad.
Saw it as low as $1.69 here in Michigan, though most places around me are $1.89. Give it time, prices will probably go back up when Summer hits.
[QUOTE=Elexar;46868123]oil prices are dropping because of the low demand, once people switch back to oil the price will climb again. that's a vicious cycle only a few will take part of, really.[/QUOTE]
There's low demand for oil? Why would you think that?
[QUOTE=itisjuly;46868221]There's low demand for oil? Why would you think that?[/QUOTE]
Because every news article mentions lower demand for oil in Europe and China than previously anticipated.
what's with all of the boxes flying around in this thread
people are just posting what the price of petrol is near them because of how cheap it is now all of a sudden
it's not as bad as dickwaving your internet speed or anything
[QUOTE=Mikemaximum;46865123]~$2.60 in NY
i can dig it[/QUOTE]
dumbass, everyone knows that oil is [I]drilled,[/I] not dug
I cry every time when I see the american petrol prices. God damn it americans, give us a share of that sweet ass freedom!
[QUOTE=thermobaric;46868699]I cry every time when I see the american petrol prices. God damn it americans, give us a share of that sweet ass freedom![/QUOTE]
I'd rather they didn't. The US is one of the worst polluters on the planet and cheap gas is a definitely a part of it.
[QUOTE=Hamsteronfire;46868657]what's with all of the boxes flying around in this thread
people are just posting what the price of petrol is near them because of how cheap it is now all of a sudden
it's not as bad as dickwaving your internet speed or anything[/QUOTE]
Because no one cares
[QUOTE=Kljunas;46868863]Because no one cares[/QUOTE]
Yep. They don't care so much they just had to rate the the thing they totally don't care about.
[QUOTE=DoktorAkcel;46868959]Yep. They don't care so much they just had to rate the the thing they totally don't care about.[/QUOTE]
isn't talking about ratings against the rules now?
What's the agenda behind this? It seems like intentional massive scale market manipulation. Is it trying to hurt Russia, hurt the US, or preserve Saudi and Iraqi market share by driving oil too close to the cost per barrel to produce shale oil?
I have no idea and its fascinating.
[QUOTE=Blanketspace;46869217]What's the agenda behind this? It seems like intentional massive scale market manipulation. Is it trying to hurt Russia, hurt the US, or preserve Saudi and Iraqi market share by driving oil too close to the cost per barrel to produce shale oil?
I have no idea and its fascinating.[/QUOTE]
From what I've understood so far, OPEC still has a metric shit ton of oil plus the best developed refineries in the world. They have the capacity to produce so much oil that they can easily drown out the rest of the world's production. Since the US has steadily been opening more and more wells over the past years and stealing business, OPEC decided to drive prices down to take the market away from everyone else. Since they can sell oil at $10/barrel and still make a profit, they're doing just that. The US meanwhile also has a lot of oil, but nowhere near as good of a system to refine it and transport it overseas, so the market will eventually reach a point where the US will just be unable to compete.
[QUOTE=Hamsteronfire;46868657]what's with all of the boxes flying around in this thread
people are just posting what the price of petrol is near them because of how cheap it is now all of a sudden
it's not as bad as dickwaving your internet speed or anything[/QUOTE]
Its exactly the same
42 gal per barrel per $50
that's $1.19 per gallon if you buy by the barrel, shitt, we should start cutting out the middle man, just have barrels of gasoline delivered to your house.. Of course you'd need a huge tank or something tho, probably underground
[QUOTE=cody8295;46869458]42 gal per barrel per $50
that's $1.19 per gallon if you buy by the barrel, shitt, we should start cutting out the middle man, just have barrels of gasoline delivered to your house.. Of course you'd need a huge tank or something tho, probably underground[/QUOTE]
For a barrel of crude oil.
It's gotta be refined. That's an important middle man.
[QUOTE=Snickerdoodle;46869508]For a barrel of crude oil.
It's gotta be refined. That's an important middle man.[/QUOTE]
Oops, in that case, we need to invent a cheap residential method of refining oil.
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