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Gas prices #1193771
12/20/14 06:41 AM
12/20/14 06:41 AM
Joined: Aug 2014
Posts: 1,874
Alexander City
T
TR62 Offline OP
I like pretty colors
TR62  Offline OP
I like pretty colors
T
Joined: Aug 2014
Posts: 1,874
Alexander City
In Chattanooga on East Brainerd road. Not bad! Saw a Costco nearby that was $1.94. Didn't get a pic of it though.

Re: Gas prices [Re: TR62] #1193772
12/20/14 06:43 AM
12/20/14 06:43 AM
Joined: Nov 2011
Posts: 21,751
USA
R
Remington270 Offline
Freak of Nature
Remington270  Offline
Freak of Nature
R
Joined: Nov 2011
Posts: 21,751
USA
I read an article yesterday that said that 24 states had some spots with sub- $2/gallon gas. I hope it will last and ruin OPEC, but hopefully not the 2XL pipeline.

Re: Gas prices [Re: TR62] #1193779
12/20/14 07:08 AM
12/20/14 07:08 AM
Joined: Nov 2003
Posts: 7,913
north Alabama
biglmbass Offline
14 point
biglmbass  Offline
14 point
Joined: Nov 2003
Posts: 7,913
north Alabama
$2.21 this morn in Decatur. It's dropped about 1 cent every day for the last week or so.


Originally Posted by hillmp
The left lane is for the the purpose of moving the flow of traffic forward regardless of the speed limit. If your impeding the flow of traffic get your ass in the right lane. It's really that simple...

Re: Gas prices [Re: TR62] #1193789
12/20/14 07:23 AM
12/20/14 07:23 AM
Joined: Jan 2001
Posts: 4,100
Grant, Alabama, USA
TR Offline
10 point
TR  Offline
10 point
Joined: Jan 2001
Posts: 4,100
Grant, Alabama, USA
Bought it in Cleveland TN on Thursday for 1.99 and saw that price in South Pittsburgh. I LIKE IT!


"Make a difference, take a kid hunting".
Re: Gas prices [Re: Remington270] #1193798
12/20/14 07:34 AM
12/20/14 07:34 AM
Joined: Dec 2001
Posts: 13,845
AL
H
hunterbuck Offline
Booner
hunterbuck  Offline
Booner
H
Joined: Dec 2001
Posts: 13,845
AL
Originally Posted By: Remington270
I hope it will last and ruin OPEC, but hopefully not the 2XL pipeline.


It won't ruin OPEC. Places like Saudi Arabia have the ability to produce oil much cheaper than the rest of the world. Matter of fact, OPEC is probably behind the dropping of oil prices. Their aim is to hurt the lower margin guys...shale oil producers, tar shands producers, deep water drilling guys, etc. Those type operations need oil to be $70/bbl or so for it to be profitable for them. Most of the OPEC countries can be profitable at a fraction of that. OPEC floods the market, drives the price down, and you start seeing the shale/tar sands guys cutting production...maybe even going out of business. OPEC is happy, the American people are happy. Then, OPEC cuts production again and the price per barrel settles back up to where OPEC wants it to be. Meanwhile, it takes months for the shale and tar sands guys to get back up and running.

It's a vicious cycle, and we root for the bad guys (OPEC) while it happens.



"You think I care? Roll Damn Tide"

Have you tried Google?
Re: Gas prices [Re: hunterbuck] #1193806
12/20/14 07:39 AM
12/20/14 07:39 AM
Joined: Jan 2005
Posts: 23,871
Clarksville, TN /Greenville, ...
bill Offline
Freak of Nature
bill  Offline
Freak of Nature
Joined: Jan 2005
Posts: 23,871
Clarksville, TN /Greenville, ...

Originally Posted By: hunterbuck
Originally Posted By: Remington270
I hope it will last and ruin OPEC, but hopefully not the 2XL pipeline.


It won't ruin OPEC. Places like Saudi Arabia have the ability to produce oil much cheaper than the rest of the world. Matter of fact, OPEC is probably behind the dropping of oil prices. Their aim is to hurt the lower margin guys...shale oil producers, tar shands producers, deep water drilling guys, etc. Those type operations need oil to be $70/bbl or so for it to be profitable for them. Most of the OPEC countries can be profitable at a fraction of that. OPEC floods the market, drives the price down, and you start seeing the shale/tar sands guys cutting production...maybe even going out of business. OPEC is happy, the American people are happy. Then, OPEC cuts production again and the price per barrel settles back up to where OPEC wants it to be.

It's a vicious cycle, and we root for the bad guys (OPEC) while it happens.



Some shale producers need $70 a barrel to make it but there are lots of them that can make it at $40 a barrel. If oil goes below $50 we may see some negatives long term but just like the inflated bubble in the stock market that is about to pop, oil needed a market adjustment that reflected increased supply and lower demand.


"Political debate: when charlatans come together to discuss their principles"
-
Bauvard
Re: Gas prices [Re: TR62] #1193827
12/20/14 08:18 AM
12/20/14 08:18 AM
Joined: Feb 2013
Posts: 7,899
Huntsville AL
Rocket62 Offline
14 point
Rocket62  Offline
14 point
Joined: Feb 2013
Posts: 7,899
Huntsville AL
Dropping of oil prices is most likely a plan by OPEC to eliminate the competition from the shale oil industry in the US. If they can keep the price down long enough, it won't be profitable for the US shale industry to produce oil. Once the lack of profit motive gets them to stop, it will take a lot of capital investment for them to start up again.

There is a downside for OPEC, just check out this chart. This is the barrel price each country needs in order to balance their budgets. Some of the wealthier countries that have invested their profits can weather this storm but there is only three of them (Quatar, Kuwait, Saudi) that can really afford to do this for any length of time. Seems most of them squandered all their profits on spending programs, booze and wimmens smile My heart bleeds for them.

Long story short : Oil prices will stay down for a bit, maybe even go below $50 for a short time BUT will go back up in a year or two. Investors this is a good time to buy in but be prepared to stay 'in' for a year or three

Good story on this here ...


Last edited by Rocket62; 12/20/14 08:19 AM.



I don't want to pass quietly into the night. I want to slide in sideways kickin and screamin
Life really is awesome ... Soak it up while you can ...
Re: Gas prices [Re: bill] #1193832
12/20/14 08:26 AM
12/20/14 08:26 AM
Joined: Dec 2001
Posts: 13,845
AL
H
hunterbuck Offline
Booner
hunterbuck  Offline
Booner
H
Joined: Dec 2001
Posts: 13,845
AL
Originally Posted By: bill
Some shale producers need $70 a barrel to make it but there are lots of them that can make it at $40 a barrel. If oil goes below $50 we may see some negatives long term but just like the inflated bubble in the stock market that is about to pop, oil needed a market adjustment that reflected increased supply and lower demand.


There are a few analysts that are claiming $40/bbl for the shale guys, but that's just not real world. There may be a very small handful of the Texas shale producers that could survive at $40, but that's it. Here's a good article from the Wall Street Journal from a couple of months ago that's more in line with what those guys tell me, and I've linked a chart that gives each field's profitability basement range. Keep in mind that most of the companies drilling up in the shale zones are considered "wildcatters" and don't have the massive reserves to be able to withstand long periods of losing money....

http://www.wsj.com/articles/energy-boom-can-withstand-steeper-oil-price-drop-1414627471



"You think I care? Roll Damn Tide"

Have you tried Google?
Re: Gas prices [Re: TR62] #1195950
12/22/14 02:07 PM
12/22/14 02:07 PM
Joined: Mar 2001
Posts: 11,132
Central Alabama
Cuz-Pat Offline
Booner
Cuz-Pat  Offline
Booner
Joined: Mar 2001
Posts: 11,132
Central Alabama
Sad when we now think that $2.00 per gallon gas is cheap.


Cuz-Pat

Patton's European Mounts
Professional Quality Skull & Antler Taxidermy
Since 1998
Re: Gas prices [Re: TR62] #1195955
12/22/14 02:11 PM
12/22/14 02:11 PM
Joined: Dec 2010
Posts: 4,541
Centreville AL.
sbo1971 Offline
10 point
sbo1971  Offline
10 point
Joined: Dec 2010
Posts: 4,541
Centreville AL.
According to what I have heard OPEC is responsible for the drop in prices and it's not good in the long run from what they are saying.


Elite Omnia, Easton FMJ, Axcel Landslyde 5 pin slider.
Re: Gas prices [Re: Cuz-Pat] #1195957
12/22/14 02:14 PM
12/22/14 02:14 PM
Joined: Jan 2003
Posts: 15,066
Chilton County
Morris Offline
Poppa Jon
Morris  Offline
Poppa Jon
Joined: Jan 2003
Posts: 15,066
Chilton County
Originally Posted By: Cuz-Pat
Sad when we now think that $2.00 per gallon gas is cheap.


This ^

Re: Gas prices [Re: TR62] #1196013
12/22/14 03:20 PM
12/22/14 03:20 PM
Joined: Sep 2004
Posts: 2,223
Cullman/Winston county line
Firefighter Bill Offline
8 point
Firefighter Bill  Offline
8 point
Joined: Sep 2004
Posts: 2,223
Cullman/Winston county line
I read today that the Saudis are trying to hurt Iran with the low oil prices, much like they did in 1977. Trouble with that is that if I remember right ,by 1979 we saw record high oil prices and shortages here.


Lead, follow or get the HELL outa the way!
Re: Gas prices [Re: TR62] #1196018
12/22/14 03:25 PM
12/22/14 03:25 PM
Joined: Nov 2009
Posts: 10,979
wedowee
daniel white Offline
Booner
daniel white  Offline
Booner
Joined: Nov 2009
Posts: 10,979
wedowee
$1.99 in North Randolph County


"You do and it will be the biggest mistake you ever made, you Texas brush popper" John Wayne
Re: Gas prices [Re: TR] #1196034
12/22/14 03:39 PM
12/22/14 03:39 PM
Joined: Oct 2013
Posts: 64
South Pittsburg, Tn
MRogers Offline
spike
MRogers  Offline
spike
Joined: Oct 2013
Posts: 64
South Pittsburg, Tn

Originally Posted By: TR
Bought it in Cleveland TN on Thursday for 1.99 and saw that price in South Pittsburgh. I LIKE IT!


It's been 1.99 in South Pittsburg for about 3 weeks now. It's nice when you drive 90 miles round trip to work each day. I actually got my Tahoe out a couple of weeks ago and filled it up, it's been sitting for a year and now I can afford to drive it again.

Re: Gas prices [Re: sbo1971] #1196045
12/22/14 03:45 PM
12/22/14 03:45 PM
Joined: Jan 2005
Posts: 23,871
Clarksville, TN /Greenville, ...
bill Offline
Freak of Nature
bill  Offline
Freak of Nature
Joined: Jan 2005
Posts: 23,871
Clarksville, TN /Greenville, ...
Originally Posted By: sbo1971
According to what I have heard OPEC is responsible for the drop in prices and it's not good in the long run from what they are saying.


The reason so many are saying it isn't good is two fold. Those who have made fortunes on the record oil prices are ticked that it is over but the other side is even more ticked. The green energy crowd is yelling that cheap oil is going to have every one going out and buying the big trucks and suvs again and that it is going to accelerate climate change which will ultimately have a devastating affect on the world economy. Cheap oil is good for the consumer, it's good for inflation and it will be good for the economy. I could care less about those who were getting rich on skyrocketing oil prices while the guy making $400 a week was trying to figure out how to get to work and feed his family and I REALLY don't care about the hippie liberal green peace crowd that wants us all to drive a electric go cart with a 50 mile range.

Last edited by bill; 12/22/14 03:45 PM.

"Political debate: when charlatans come together to discuss their principles"
-
Bauvard
Re: Gas prices [Re: TR62] #1196048
12/22/14 03:47 PM
12/22/14 03:47 PM
Joined: May 2011
Posts: 20,017
PDL, Fl
T
timbercruiser Offline
Freak of Nature
timbercruiser  Offline
Freak of Nature
T
Joined: May 2011
Posts: 20,017
PDL, Fl
Cheap to me would be about $.179 like I paid one Saturday in Troy about 1972.

Re: Gas prices [Re: sbo1971] #1196140
12/22/14 04:45 PM
12/22/14 04:45 PM
Joined: Jul 2002
Posts: 3,863
Shelby County
BassCat Offline
10 point
BassCat  Offline
10 point
Joined: Jul 2002
Posts: 3,863
Shelby County
Originally Posted By: sbo1971
According to what I have heard OPEC is responsible for the drop in prices and it's not good in the long run from what they are saying.


What I read was the increase of oil production and Fracking in the USA has lead to the prices of oil to drop along with China not consuming as much. OPEC had a meeting and was raising heck over the price drop and voted to do something about it like decrease production but some experts are not sure it will cause oil to go back up right away as the USA and China are buying as much.


If you claim to be a Christian then why do you act like the devil? You will be known by the fruit you bear!
Re: Gas prices [Re: TR62] #1196151
12/22/14 04:53 PM
12/22/14 04:53 PM
Joined: Dec 2010
Posts: 4,541
Centreville AL.
sbo1971 Offline
10 point
sbo1971  Offline
10 point
Joined: Dec 2010
Posts: 4,541
Centreville AL.


Elite Omnia, Easton FMJ, Axcel Landslyde 5 pin slider.
Re: Gas prices [Re: sbo1971] #1196237
12/22/14 05:56 PM
12/22/14 05:56 PM
Joined: Aug 2005
Posts: 1,719
Hueytown,Ala
B
bshunt Offline
8 point
bshunt  Offline
8 point
B
Joined: Aug 2005
Posts: 1,719
Hueytown,Ala
Bought it in York Saturday for $1.97

Re: Gas prices [Re: hunterbuck] #1196257
12/22/14 06:12 PM
12/22/14 06:12 PM
Joined: Aug 2012
Posts: 105
D
DWRich Offline
3 point
DWRich  Offline
3 point
D
Joined: Aug 2012
Posts: 105
My mom and her brother and sisters leased some family land in south MS for oil production. It's in Amite County which several months ago, seemed like every landowner in the county was getting paid. It is smack dab in the middle of the Tuscaloosa shale formation. According to that chart, they won't be producing anything from there in the near future since oil prices have dropped so much.

There are a few states like LA, TX, and the Dakotas that these low prices really hurt, but overall it is better for the entire country and I'm happy the price is back down. If oil prices grew at an average rate of inflation of around 4-5%, extrapolating from the early 2000s prices would be around $1.80-$2.00 a gallon so maybe these are the prices we should have been paying all along.

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