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Discussion Starter #1 (Edited)
I drive 50 miles one way to work , if gas costs more per gallon , that is less money I have for me and my family .:( Also , we have 12 delivery trucks at work , the more fuel costs per gallon the more my dept. costs are . This cuts into our profit and my bottom line also .... Oil prices have a direct effect on fuel prices at the pump .
 

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It wasn't too long ago we were paying $4+ per gallon out here. Today's prices are a dream in comparison.
 

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Discussion Starter #5
It wasn't too long ago we were paying $4+ per gallon out here. Today's prices are a dream in comparison.
Same here Ric , 4.00 for the 87 per gallon . That happens again and it wont be pretty for me , seemed like I was gassing up every day .... I like gas at 1.99 a gallon .
 

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Discussion Starter #6
Guys like Travis make their living on higher oil prices , I can see his points .... He has more disposable income to spend on "stuff" when oil prices are higher , Thusly , when gas prices are lower I have more money to spend on "stuff" .:grin
 

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Sitting at $1.70's a gallon in my part of Ohio at the moment. Hasn't been like this since 2008. The comroderie at the pump is entertaining. I remember seeing guys with 34 gallon gas tanks look like they just lost their favorite pet after a $4.00 a gallon fill up. Don't miss those days
 

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Wow, I gotta move south.
In my area it is $1.05 per liter which works out to $4.00 per US gallon.
Ouch !!
That and all your taxes is the price you pay for the "FREE" medicine you Canucks beat us Yanks over the head with.
 

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Just remember, what goes down must go up... in the world of oil production. Besides, while it seems we are getting a break and will do so for awhile, our groceries like eggs are going up. The terrible drought this year will also have an affect.

Everything price-wise is going up but our paychecks.

http://www.victoryforums.com/1775706-post346.html
 

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Sitting at $1.70's a gallon in my part of Ohio at the moment. Hasn't been like this since 2008. The comroderie at the pump is entertaining. I remember seeing guys with 34 gallon gas tanks look like they just lost their favorite pet after a $4.00 a gallon fill up. Don't miss those days
My long bed was 36 gallons......the new one is a shorty at 26 gallons....and my old beater civic is only a ten gallon.
 

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Just remember, what goes down must go up... in the world of oil production. Besides, while it seems we are getting a break and will do so for awhile, our groceries like eggs are going up. The terrible drought this year will also have an affect.

Everything price-wise is going up but our paychecks.

http://www.victoryforums.com/1775706-post346.html
The reason oil prices are down is the demand is down. Demand has been falling as cars get more efficient, new sources of oil are found, etc... Eggs went up because of the bird virus that wiped out over 50% off all the chickens.

As far as "what goes down must go up" is not true. I owned stocks that went to zero and that was the end of that! :frown
 

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The reason oil prices are down is the demand is down. Demand has been falling as cars get more efficient, new sources of oil are found, etc... Eggs went up because of the bird virus that wiped out over 50% off all the chickens.



As far as "what goes down must go up" is not true. I owned stocks that went to zero and that was the end of that! :frown

Wrong stocks.
Bird flu. Frost. Demand. There's always an excuse.


Sent from Motorcycle.com Free App
 

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Thanksgiving day gas was 1.97 now today 2.03
what it mounts to is you have to give up what car or truck you love and go to a car they gets great gas mileage.
We are fools for driving gas guzzlers
 

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The reason oil prices are down is the demand is down. Demand has been falling as cars get more efficient, new sources of oil are found, etc... Eggs went up because of the bird virus that wiped out over 50% off all the chickens.

As far as "what goes down must go up" is not true. I owned stocks that went to zero and that was the end of that! :frown
That's part of it but the main reason is because OPEC (The Saudis) were losing money because both Canada and the USA started producing lots of oil from fracking and shale oil production. Both of these were cost effective while the price of a barrel of oil was over $60. People in the oil business in the US and Canada were walking in tall cotton while it was going on.

What the Saudis and other OPEC members decided to do to stop this loss on their part was to continue to pump (produce) the same amount of oil in order to lower the price of a barrel of oil in order to put the US and Canadian oil producers out of business and it worked. You may remember when North Dakota was booming with work in the oil business. Many other states benefited from this boom just as a heck of a lot of people in the oil business did.

The strange thing now is why OPEC has not slowed it's oil producing now that the bottom fell out of the US and Canadian oil business. Countries like Venezuela, who has funded its socialist government agenda with its oil, is no longer able to support socialism in that country. They can barely get necessities like TP, toothpaste, food, etc. etc.

So the real question should be why OPEC has continued to push oil prices down by saturating the market. Oil tanks all over the world are full to the max. There simply isn't any place to store this extra oil. Much of it is sitting in ships off the coast too.

So here we are with too much supply and not enough demand. The very grease that lubes the wheels of capitalism. Pun intended.
 

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Bbob, the petrodollar is at fault, nobody needs this petrodollar except the USA ....

There are soooo many countries with oil in there ground, and there currency or oil selling has nothing to do with petrodollar, but if america finds out country's sell oil in other currency then they get sanctions or war ..

I was in Iran "salmon oil fields" jacking / transport drill jackups and accomodation jackups and i have never seen a bigger platform in my life, there production was 5% only, and there reason was; we can wait as it bubbles out forever here, and we can sell for 5$ per barrel (as they did before) and still survive, they can boost up production just by opening another valve, not even pressurizing the well.

Venezuela & toothpaste, baby food, baby milk, toiletpaper GOOD point, the president made a pact with USA of every import ONLY trough USA, no other countries, as you know the COW / live stock, production is very big in Venezuela and every medicine has to come from the USA, soooo nobody can affort it ...
When you pay the bill with your credit card the rate is
1:3 to the usd (official exchange rate, set by government)
But when you go to the black market then the exchange rate is
1:73 to usd (in 2014)
So you can imagine how angry and frustrated the locals are due to the petrodollar and import block pact

You can also imagine how much fun we had for a exchange rate 1:73 when i was working there moving core drilling jackups for a 43 km long bridge, that was STOPPED due to the economy ..

Anyway the time is there that country's all over the world are selling there oil in any currency they want, as it bubble out of there soil, transported to there neighbor, so no need for petrodollar

Sooner then later there will be no more petrodollars compulsory

A good sample is Brazil, they stop all import of materials that are self produced, so lets say a pump, ALL pumps are made in brazil and they last forever, super good quality ... I was working there for 18 months and was able to maintain the pilling jackup with Brazilian lockal pumps / Heather / electronic / etc etc

Only special parts we hand carry for the hydraulic jacking system ..

So they close there country for there own protection and it works, in the last 20 years Brazil went from a "poor" country to a WORLD economy, booming and not to be stopped leadership

Don't want to offend anybody, but that is how most people in the world look at the world economy regarding OIL

Just my opinion talking to world citizens.
 

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Bbob has the line on this. The Saudi's dropped the price to make sure the home grown US cost is higher than importing. More cost locally means more imports to keep the price down.

Fracking found more attainable oil at a cost that made it cheaper locally than importing. Without those imports the Arabs don't have the daily income needed to meet their extravagant daily expenses. The US banks also hurt when prices are low because the major oil companies employ lots of Americans and the Arabs put their money only in secure US banks. When they don't deposit the profits go down. When people realize how many problems fracking causes and shut it down then the Arabs will up the price again.

The biggest bastards in the oil pricing problem are the US owned tankers who park off the coast until the price goes up. Just imagine the profit on a tanker holding 3 million barrels of oil that waits off the coast until the price goes up 5 dollars a barrel. British tankers recently got nailed for the practice yet the US politicians don't move on it because of the donations from the oil companies. It's not just greed. These pricks should be charged with treason.

PS. people really need to check out the consequences of fracking. If it continues, oil won't be the most valuable resource. The highest dollars will go to clean drinking water.
 

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Yeah mate, water is a valuable resource and fracking is fcking the water table here.
Ever tried drinking gasoline.
As for diesel its possible to recycle used vegie oil, thats the reason I bought my old 300D diesel Benz.
My Armageddon machine.
Whats a pint of bottled water cost in the US currently?
 

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I love the myth that has been spread that fracking contaminates the drinking water.

Unfortunately, environmentalists have spread this ignorance and the masses embraced it because they do not have a basic understanding of the process or the fact that it takes place almost 2-miles beneath the water table in most areas.

Yeah...I work for an oil company and it angers me to no end when 'greenies' spread lies about the industry.
 
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