Gas Prices

Discussion in 'Environmental Issues' started by Ride4theSon, Oct 8, 2008.

  1. October 23, 2008 - Price per barrel declined to $66.70 today which is a 16 month low.

    National average for 87 octane regular in the US today was $ 2.84 with some regional prices in the mid $2.50 range. :)
  2. We are down to $2.33 per gallon today. (Regular, I think premium is still around $2.60)

    We have 6 weeks to go!!! Git it while the Gettins Good!!! :)
  3. I remember my Dad telling me " they won't be happy until gas is $1.00 per gallon"!:eek: Prices should go lower.
    Just a side opinion on this but with the whole nations economy tittering on the brink I think the extra strain on the consumers gave it a final shove. Now that prices are going down perhaps they will see where greed has brought them.
  4. I don't get it! Gas prices were astronomical before Wall Street crashed, now there down in prices. Why and how come they couldn't be lower earlier! Aren't we buying our oil from foreign countries? Are they having pity on us, or setting us up for a fall? Can someone bring some light to this for me?
  5. I don't understand it all either . wish someone could explain the fact that we have an oil rich province .... so where is the oil going ?

    Right now our gas is staying around $ 1. 04 per liter.

  6. For BoldforChrist and Dusty:

    Disclaimer: Please note that this memo contains facts that can be substanitated with a little research into government, banking and Wall Street operations and practices. These facts are presented here, not to demean, but to show intent and actual happenings as a result of poor management on the part of a certain body of persons. While some political details are present in this memo, the intent is to only provide facts that can be fully verified by the reader. No political candidate is mentioned here by name. This is merely a memo of verifyable economics.

    The Wall Street and Banking collapses over the past 5-1/2 months were created by the practices of the administrators in charge of the government's banking and commerce committees (democrats). They wanted their socialist agenda to include mortages even for persons who had no possible way to pay off those mortages. They provided mortgage loans to persons across the board without regard for their personal income or ability to pay back the loan. These persons defaulted on the loans in droves, and the two main lenders, who were managed by democrats, came close to total failure. The US government bailed out the "Freddie Mac" and Fannie Mae" corporations to attempt to stabalize the housing/lending market and to keep banks from failing because of these hundreds of thousands of uncontrolled bad loans to people wo did not qualify in the first place.

    Remember, the socialism agenda of the liberal democrat party is to 'share the wealth', 'leave no one behind', and 'full equality for all'. This is an unrealistic agenda because the US is a capitalistic nation using free enterprise to establish earnings, profits and spending with personal responsibility for one's own earning potential. This is unlike the socialist agenda of democrat led government programs to give 'entitlements' to everyone... even those who refuse to work or to take any personal responsibility for their future. They rely on government to take care of them - in exchange for votes for democrat candidates.

    When the housing / lending market nearly failed, the stock market responded because there were substantial cash losses to lending companies and banks and their stocks fell through the floor. This had the overall effect of creating general fear in the markets, especially with the futures speculators who set future commodity prices based upon market and world trends. It was these speculators who increased the oil futures market to over $140.00 per barrel because of their fears about the rest of the market and possible recession indicators. As it turned out, these speculators lost billions of US dollars in the banking and market commodity fiasco as well, so their ability to artificilly keep the price of oil high was severely hampered by their loss of cash flow. The per barrel price of oil today reflects it's actual market value in free trade - NOT the Wall Street inflated, artificial speculation prices of two months ago. Even though the democrat led failures are being managed slightly better now, there is still significant fear in the banking industry and stock markets because of the elections coming up in early November. If the candidate from the democrat party is elected, the taxes on business will be increased to fund additional socialist programs and the resulting loss of profits for businesses will drive down the stock market even further. That is why the markets are still going down this week... fear of a democrat led socialist inspired government.

    It will take some research on your part to verify these facts as I had to do because the major news media corporartions in the US are in the pocket of democrats and these media companies will not expose these facts to the general public, so as to 'protect' democrat candidates for office. Do your homework well, my friends.

    I hope that no one will be offended by this memo. Again, these are the economy facts that can be verified fully if a little research is accomplished.
  7. Thanks Pastor for the time and effort put into this information. God Bless.
  8. What Pastor Gary says about the mortgages is 100% true- bad loans were written indiscriminately and oft in fear of reprisal and harassment. There is another factor in the oil also though- supply and demand, When things were rolling along and with the prospect of an increasing Russian/Chinese need for oil everyone from OPEC to speculators thought that they could run the prices as high as they wanted. Following the USA's stock market the rest of the world began to see financial instability and consumers began to cut back. Now we have a falling demand as a possible global recession takes root- that lowers prices. That may indeed be the only bright side to the current economic mess.
  9. Here in Australia petrol (gas to you Yanks) is currently around $1.54 per litre. A litre is roughly a quarter of a gallon.


  10. Well today our gas is .99 per liter .... Guess who gassed up ?:dance::dance::dance:
  11. One thing that people sometimes fail to understand is that you are still paying more for fuel, but in other ways.

    I'm sure everyone noticed that as the price of fuel went up, so did the price of everything else. Transportation companies raised prices and added enormous fuel-surcharges to deliveries.

    Now that the price of fuel has fallen by over 50%, those sur-charges have become great revenue to transportation companies. This is very good news for investors with funds in companies like U.P.S. Fed-Ex, and just about any freight or trucking company.

    I haven't been to town for a couple days, but I plan to go later. I still predict that we will fall below $2.00 per gallon up to the election, then over $5.00 per gallon after the new leadership takes over. (Depending on who wins.)
  12. I'm not sure that pol_ti_s had anything to do with the price of gas although the timing makes one wonder. If gas is down due to pol_ti_s, which party benefits? Right only one.

    I am putting more stock in the concept of oil stockpiling to drive the price up (posted this previously). I have been studing the behavior of the market since I heard that theory. When gas prices started dropping, we had stage one in which gas came down maybe 20-40 cents per gallon. Then we had a three or four week lull where the price seemed to stabilize. Then in stage two - the bottom started dropping out of the market and it is still dropping about every day. Today we saw a further decline to $61 per barrel. A barrel of oil is 42 US gallons or 34.972 Imperial gallons. I can't believe that the price is dropping due to lower consumption.

    If Iran and other countries did stockpile oil in leased tanker ships like was reported - then how long would it take to ship this oil to the USA? About a month I would say - the same time interval that the price seemed to stabilize. According to the rules of supply and demand I would say that we now have a glut of oil on our hands - due to all of this stockpile oil hitting our shores? I also suspect that these long term speculators were shaken out of the market by the current Wall Street crisis and the falling oil pricing.

    It's not hard to believe that greedy forces are at work anywhere there is huge amounts of money to be made - is it? As you said - you would think that all of these sur-charges would start dropping off wouldn't you? I don't think this will happen to any significant degree until after the ele_ti_n. One particular candidate is bringing a lot of economic fear into the business world from what I hear.

  13. Thanks I'm not sure I understand it all. Seems to go over my head! People keep mentioning repression, but it looks to me like the depression. Loss of jobs, homes, food, ect. Lets continue to pray the Lord's will over our lives! And do what the Lord calls us to do and that is to be the body of Christ and to witness to the lost. The Lord will take care of the rest! Mathew 6:33 (Seek ye first the kingdom of God)

    Thanks for the research and info!
  14. We're down to $1.91 this morning!! (I think that's 50 cents per litre)
  15. A worldwide slowdown in the economy has pushed demand down leaving excess on the market and thus the lowering prices. As I have said on other occasions the tittering financial situation started it's downward tumble when rising fuel costs forced consumers to cut back on other spending. Greed will do you in every time.
  16. Fuel has dropped here too.
    It is some of the cheapest in the country as well I believe compared to other places.

    Its currently at 94p a litre and with the recent dollar exchange rate dropping, thats $1.49 a litre, although thats still $7.43 a gallon.

  17. Woa ,and I thought ours at 90 cents a liter was good . I just wonder if it will continue to drop.
  18. as of last week we saw the lowest price in a long time and that was 1.29 but it jumped back up to 1.69 so I wonder what will happen after the NEW MAN IN OFFICE come in will it go back to 4.00 something a gallon sure hope not !!
  19. We dropped from $1.30/L or so to $0.76-0.79/L pretty quick.

  20. Ha! And here I am being excited to pay 90c/litre!!

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