paid $1.479/gal today, cheapest in the area at $1.429....
- Thread starter Nittany.Lion
- Start date
Current gas price in Dallas area = $1.61 - 1.65/gallon. That's with WTI @ $34.oo per barrel.
I'm currently seeing estimates of WTI going to the $20/ barrel range soon. A large part of the anticipated further decline relates to the strength of the US $ coupled with a continued over-supply in the world markets.
Even the Saudis are getting concerned - they are thinking of offerring shares in their oil company (Aramco).
I'm currently seeing estimates of WTI going to the $20/ barrel range soon. A large part of the anticipated further decline relates to the strength of the US $ coupled with a continued over-supply in the world markets.
Even the Saudis are getting concerned - they are thinking of offerring shares in their oil company (Aramco).
Obama's policies for higher priced gas and against lower cost energy have been failures.
Americans can now see the kinds of lower prices they could have had, if the Democrats weren't fighting against lower cost energy supplies and fighting against the American people.
This election year, it's time for Americans to peacefully remove Democrats from power at every level, from local, state and federal offices.
Americans can now see the kinds of lower prices they could have had, if the Democrats weren't fighting against lower cost energy supplies and fighting against the American people.
This election year, it's time for Americans to peacefully remove Democrats from power at every level, from local, state and federal offices.
Really like Tennessee. Traveled through the state on the way back and forth to the Southern Scuffle wrestling tournament in Chattanooga. Very impressed with Chattanooga as an attractive, visitor-friendly small city; they've done a terrific job with their downtown. Nashville, of course, may be the hottest city in the country. Knoxville? -- seems like a big sprawl. Other areas feature pretty countryside and some attractive small towns. Low taxes and reasonable cost of living. Things seem newer and cleaner than most of the Northeast.
http://www.bloomberg.com/news/articles/2016-01-11/today-was-a-wild-day-for-the-oil-market
The price of oil is not being set by anything domestically. Look to China and it's crashing economy. The conflict between the Saudis and Iran has more impact than Keystone XL or fracking. The price of oil from those oil sands is now down to about $16.00/barrel - that's a huge loss for every barrel supplied. Even new fracking wells can't make anything at these prices that's why there have been so many layoffs in the oil patch recently.
The price of oil is not being set by anything domestically. Look to China and it's crashing economy. The conflict between the Saudis and Iran has more impact than Keystone XL or fracking. The price of oil from those oil sands is now down to about $16.00/barrel - that's a huge loss for every barrel supplied. Even new fracking wells can't make anything at these prices that's why there have been so many layoffs in the oil patch recently.
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Not surprised a lib would deny the affect that fracking has had on global oil supplies. The US is producing about 5 Mil bl/day more than five years ago. Such a huge influx of oil supply is probably the key reason that sparked this price war. SA is petrified that the US production would continue to grow and take away market share. And the cost of producing that oil has dropped substantially the last couple of years.
While the cost of production for SA and other ME countries is dramatically lower, they have used the massive profits they were making to pay off restive populations. Now they need oil in $100 range to support the social welfare systems they have in place and cannot sustain these low prices for very long. While some of the weaker US oil companies will either go bankrupt or be bought up, it safe to say that the USA oil biz will succeed at lower prices better than SA or other ME social welfare states.
???
The Chinese economy has been suffering from an overcapacity problem, mostly because of the excessive level of investment--about 50 percent of China's GDP. A correction was inevitable.
Chinese manufacturers are more anxious than ever to produce goods for export. Why would Walmart have trouble getting products from China?
The Chinese economy is still growing > 6%, just not >10% as it has in recent years.
Exports to China represent less than 1% of U.S. GDP. I don't think their slowdown has a big effect on our economy.
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