WHAT IN THE FUCK HAPPENED TO GAS PRICES Options

[Hartmann]

What was going on in the Southeast the last few weeks was directly related to Ike. Atlanta and 52 other counties require a special type of fuel with a regulated amount of sulfur. The plants that supply that fuel are in southeast Texas. They were down for at least a week and when they came back up they focused on supplying fuel to the immediate area, plus, one of the sulfur recovery units was knocked out by the storm.

This lead to an extreme shortage of fuel in the Southeast with lines of cars waiting for gas.

http://www.ajc.com/metro/content/metro/sto..._explainer.html

So it wasn't gouging per se, instead it was extreme lack of supply.

With the market the way it is, I can see prices continuing down to around $70/barrel.

[Mommy]

What was going on in the Southeast the last few weeks was directly related to Ike. Atlanta and 52 other counties require a special type of fuel with a regulated amount of sulfur. The plants that supply that fuel are in southeast Texas. They were down for at least a week and when they came back up they focused on supplying fuel to the immediate area, plus, one of the sulfur recovery units was knocked out by the storm.

This lead to an extreme shortage of fuel in the Southeast with lines of cars waiting for gas.

http://www.ajc.com/metro/content/metro/sto..._explainer.html

So it wasn't gouging per se, instead it was extreme lack of supply.

With the market the way it is, I can see prices continuing down to around $70/barrel.

Wow... that is the first I have ever heard of that. Thanks, Stephan. Sheesh, the media really is useless. I don't think I heard a single story about that. All I kept hearing around here was "price gouging"

[Epic]

i filled up in south austin for 3.05

[Mommy]

I think the national average is $3.38/gal yet the price of a barrel is below $88.00

[jwttu]

in denton gas was selling for $2.99

[Mommy]

Less than 2 months later and now gas is only $1.89.... WOOT

[Psykopath]

Less than 2 months later and now gas is only $1.89.... WOOT

word.

I'm loving it big time. Makes it so much less expensive to travel to fights.

[Dogmeat]

word.

I'm loving it big time. Makes it so much less expensive to travel to fights.

Yeah it's almost like I'm really actually getting 26 miles per gallon in my pickup truck now

[THECHICKEN]

$1.93... filled up for $22 AWESOME

[Dogmeat]

yeah I'm actually pretty happy I got a big block instead of a diesel right now

[dauss]

It only took a global recession to bring down the gas prices. Worst recession since the S&L crisis of the 1980s, $6,000,000,000,000 of wealth lost, 2 endless wars, nearly 1.2 million jobs lost this year alone, 6.5% unemployment rate, etc, etc.

The "American" car companies, Chrysler, Ford, and GM are now begging for help. Burning through billions of dollars and possibly running out of the money in the first half of 2009 and posting millions of dollars of losses. When gas hit over $2/gallon or the first time in Q2 of 2004, the Big 3 automakers didn’t do shit. The Big 3 didn't do shit when gas surpassed $3/gallon in Q4 of 2005, going as far as saying that high gasoline prices aren't stopping Americans from buying trucks and SUVs. You got burned once when gas hit $2/gallon, burned a second time when gas hit $3/gallon, now you guys are getting slaughtered after gas hit $4/gallon. The collapse of the Big 3 automakers will cost over a million jobs in the economy, but not sure if they need saving with their poor decisions they've made in the pass and the utilization of worthless union workers.

The economy has always come out a recession, but it depends on how long it will last. OPEC has announced cuts of 1.5 million barrels a day during an emergency meeting last month. A report at the end of the month will show if the cartel has actually enforced the cut in production. OPEC wants to keep it between a "reasonable" $70 to $90/barrel range, but with the recession oil prices has fell even further regardless. The OPEC president is reportedly saying that more cuts are likely to "stabilize" the price of oil. Oil did dip below $60/barrel in trading last week. Prices will increase, and this is no time to terminate or delay any research into alternative fuels not made from food, biodiesel, fuel efficiency, nuclear energy and renewable energy.

Enjoy it while you can, but "Those who cannot remember the past are condemned to repeat it."

[THECHICKEN]

Here comes debbie downer

[chook]

I disagree with David on some moral issues, but he is pretty close to right on this.

[Hartmann]

It only took a global recession to bring down the gas prices. Worst recession since the S&L crisis of the 1980s, $6,000,000,000,000 of wealth lost, 2 endless wars, nearly 1.2 million jobs lost this year alone, 6.5% unemployment rate, etc, etc.

The "American" car companies, Chrysler, Ford, and GM are now begging for help. Burning through billions of dollars and possibly running out of the money in the first half of 2009 and posting millions of dollars of losses. When gas hit over $2/gallon or the first time in Q2 of 2004, the Big 3 automakers didn’t do shit. The Big 3 didn't do shit when gas surpassed $3/gallon in Q4 of 2005, going as far as saying that high gasoline prices aren't stopping Americans from buying trucks and SUVs. You got burned once when gas hit $2/gallon, burned a second time when gas hit $3/gallon, now you guys are getting slaughtered after gas hit $4/gallon. The collapse of the Big 3 automakers will cost over a million jobs in the economy, but not sure if they need saving with their poor decisions they've made in the pass and the utilization of worthless union workers.

The economy has always come out a recession, but it depends on how long it will last. OPEC has announced cuts of 1.5 million barrels a day during an emergency meeting last month. A report at the end of the month will show if the cartel has actually enforced the cut in production. OPEC wants to keep it between a "reasonable" $70 to $90/barrel range, but with the recession oil prices has fell even further regardless. The OPEC president is reportedly saying that more cuts are likely to "stabilize" the price of oil. Oil did dip below $60/barrel in trading last week. Prices will increase, and this is no time to terminate or delay any research into alternative fuels not made from food, biodiesel, fuel efficiency, nuclear energy and renewable energy.

Enjoy it while you can, but "Those who cannot remember the past are condemned to repeat it."

The fact that OPEC announced a cut in production and the futures markets continued to drop seals the deal that their cut will not affect the price until people start driving more, so I completely agree that exploration, production, alt-fuels, and better vehicles is the way to go. The Chevron CEO was preaching this a few days ago.

Folks will settle back down to their $1.50/gallon gas and get complacent, then the price will shoot back up to $4.00. I have a feeling that when Obama takes office, he will bailout the automakers but only with stipulations on what they produce and fuel economy.

[blaarg]

What are gas prices like now? Still under $2? Less than the zero dollars I currently pay for riding my bike everywhere.

I am enjoying the $$ --> Euro conversion nowadays! YAY for the US economy being in a shithole yet the $ improving. Someone with an economics degree please explain this to me.