The "Oil Prices" thread.

[Bacon]

Well spoken.

[j_espo1]

Oil prices fall below $127 a barrel

:tup:

has the bubble burst?

[boxxa]

@j_espo1

Oil prices fall below $127 a barrel

:tup:

has the bubble burst?

time to stockpile

[psphinx81]

@newman

i honestly really wont really care until it hits about $8.00 a gallon.

+1, im getting close though… $5.59/gal for me :ohnoes:

plus i only have a 3 mile commute to work, so that helps

[JayS]

There was definitely a big drop in demand. I drove about 800 miles this holiday weekend and I have NEVER seen so little traffic on the 90 or 81 over a holiday weekend. Aside from the occasional douchebag going 60mph trying to save every last drop of gas it was a very enjoyable trip, and even those idiots were very few and far between.

:tup: to the GTO managing a 24mpg average with a total trip average speed of 54.5mph, mixed highway and rural 2 lane roads. At 75 cruise I was getting 26-27, 2 people, car stuffed with luggage and baby stuff.

[vt1992s10]

I’m not looking forward to driving to Carson City, Nevada in June. I hope prices drop just before I leave, at least I’ll get 28mpg for ~2,530 miles ouch

[boxxa]

@JayS

There was definitely a big drop in demand. I drove about 800 miles this holiday weekend and I have NEVER seen so little traffic on the 90 or 81 over a holiday weekend. Aside from the occasional douchebag going 60mph trying to save every last drop of gas it was a very enjoyable trip, and even those idiots were very few and far between.

:tup: to the GTO managing a 24mpg average with a total trip average speed of 54.5mph, mixed highway and rural 2 lane roads. At 75 cruise I was getting 26-27, 2 people, car stuffed with luggage and baby stuff.

Haha I love those people. Cracks me up. I did a test on my car. Drove a few miles at 55 and a few miles at 75 and only had a 1-2 MPG difference.

Also the people that take a full minute to get from 0 - 30 after a red light.

The best thing is that my company pays for my car and gas so the more gas goes up, the more im technically making. Lol.

[camarojoe]

Funny how it dropped $8 a barrel, but price at the pump went up $.07
I doubt they drop the price below $4.00. And if it does, probably no lower than $3.80 a gallon.

[JayS]

@camarojoe

Funny how it dropped $8 a barrel, but price at the pump went up $.07
I doubt they drop the price below $4.00. And if it does, probably no lower than $3.80 a gallon.

You do realize that while oil has gone up 550% gas went up about 310% right? Oil was $20/barrel and gas was .99/gallon not THAT long ago. If gas prices followed oil prices cent for cent we’d be paying over $6.40 a gallon right now for regular.

The two are not directly linked in price cent for cent because oil is only a part of gasoline’s total cost. Just because oil drops or rises a few bucks and gas doesn’t instantly follow does not mean it’s some gas company conspiracy. I have a clueless coworker who spouts conspiracy crap every time oil drops a penny and gas doesn’t do the same, but was conspiciously quite while oil marched over $100 a barrel and gas held steady around $3 for months.

[double_j]

@newman

i honestly really wont really care until it hits about $8.00 a gallon.

I agree as far as filling my own cars is concerned. I’m one of the the few Americans who considered fuel economy when purchasing vehicles during the past 5 years. However, the hit this will take on the entire national economy will be massive.

[j_espo1]

Oil prices fell sharply Tuesday, at times slipping below $125 after Federal Reserve Chairman Ben Bernanke indicated that more interest rate cuts are unlikely, comments that sent the dollar higher and raised questions about oil’s ability to reach new highs in the short term. Gas prices rose slightly to a new record near $3.98 a gallon.

[Fry]

@JayS

You do realize that while oil has gone up 550% gas went up about 310% right? Oil was $20/barrel and gas was .99/gallon not THAT long ago. If gas prices followed oil prices cent for cent we’d be paying over $6.40 a gallon right now for regular.

The two are not directly linked in price cent for cent because oil is only a part of gasoline’s total cost. Just because oil drops or rises a few bucks and gas doesn’t instantly follow does not mean it’s some gas company conspiracy. I have a clueless coworker who spouts conspiracy crap every time oil drops a penny and gas doesn’t do the same, but was conspiciously quite while oil marched over $100 a barrel and gas held steady around $3 for months.

Not to mention that oil purchased today isn’t delivered until next month, hence a lag.

[frost12850]

This stuff makes me sad… all Im saying is if it gets to be really really bad I know Ill be hitting up the metro/ subway if I get a job downtown for sure

[JayS]

The commodity trading commission is starting to talk about the speculation issue and the fed starting to shift their focus from housing and toward the low dollar. Both of these will help the price of oil find it’s way back down.

[deebo]

read that u.s gov shipped…cant remember… either 100billion barrels or 100million barrels of oil from our reserve to iraq the other day.

also, exxon mobile reports profits of 35billion dollars a year, while their ceo is making (cant remember) 25-40 million a year. is it really necessary to pay someone that much money and have a 35billion dollar profit and still continue to raise gas prices?

[Geehee]

@95LS1t

read that u.s gov shipped…cant remember… either 100billion barrels or 100million barrels of oil from our reserve to iraq the other day.

also, exxon mobile reports profits of 35billion dollars a year, while their ceo is making (cant remember) 25-40 million a year. is it really necessary to pay someone that much money and have a 35billion dollar profit and still continue to raise gas prices?

dude, did you read the thread at all?

[Djs87]

@evolve

dude, did you read the thread at all?

its 16 pages. i highly doubt he did. I only read the last page. Interesting stuff though =/

maybe ill read more later. Gotta say though. I drive a 32-35mpg 4 banger, and I cut trips whenever I can. I cant imagine 8 bucks a gallon. scary to think about what thatll do to the country, if it ever makes it that high.

[j_espo1]

@JayS

The commodity trading commission is starting to talk about the speculation issue and the fed starting to shift their focus from housing and toward the low dollar. Both of these will help the price of oil find it’s way back down.

i saw that yesterday too. all i can say is:

:bigclap:

its about f’n time

[Bigairskier1580]

@95LS1t

read that u.s gov shipped…cant remember… either 100billion barrels or 100million barrels of oil from our reserve to iraq the other day.

also, exxon mobile reports profits of 35billion dollars a year, while their ceo is making (cant remember) 25-40 million a year. is it really necessary to pay someone that much money and have a 35billion dollar profit and still continue to raise gas prices?

Become the CEO of a company, and then you can whine about their pay.

Yeah, it may suck that someone is getting that amount of money, but bottom-line, you don’t have to drive, it’s not a given right.

[66impalass]

woot, 93 is under 3.99 here…