Oil prices

Looks like we have some smart people here. Tell me why diesel ( the cheapest fuel to make ) is .70 cents higher than regular. Diesel was always a few cents cheaper than regular until Hurricane Katrina. It has not been close to the same price since. This makes every product we buy cost more.

Sorry bolt I thought oil was a political topic. Thanks for you what ever.
OldL, I expect she won't have to be advised to "mr president were under attack" get off your ass stay the f away And let Cheney take over. Mucho $ to be made and he can finish destroying the Middle East. And let the next dumb ass president fix it
Maybe if we get attacked again Hillary can post alerts until she gets re (kinda of) elected /appointed
Butt, the mission was accomplished long ago by a draft dodger in a flight suite that had no fkn clue. Butt he made his no money in oil ventures bolt Originally Posted by Tsmokies

W got the war powers act which was endorsed by Hillary and Joe Biden. I was personally against going into the Middle East but against pulling out prematurely. Look what is happening with ISIS. This President is a complete idiot but he beat Hillary for the nomination in 2008.
W served in the reserves. Bill Clinton was a draft dodger. I ended up in Vietnam for 28 months but I was just a poor college student with no political connections when they drafted me.
George Sr. made his money in the oil business. He is a self made millionaire and a war hero.

Looks like we have some smart people here. Tell me why diesel ( the cheapest fuel to make ) is .70 cents higher than regular. Diesel was always a few cents cheaper than regular until Hurricane Katrina. It has not been close to the same price since. This makes every product we buy cost more. Originally Posted by jwood

It has nothing to do with Katrina. It is the additives that the EPA requires. One of those, the oil companies are paying penalties because they are not adding it. They can't because nobody makes it. That's your government in action.

It has nothing to do with Katrina. It is the additives that the EPA requires. One of those, the oil companies are paying penalties because they are not adding it. They can't because nobody makes it. That's your government in action. Originally Posted by OldLRRP

Maybe so but thats when it went up. I buy it everyday.

I remember buying gas at $1.27 a gallon at the end of 2008, and $3.90 some 40 months prior, just after Katrina.. kind of shocking how elastic prices can be.

Curious to hear folks views on oil prices and if the Texas growth story gets curtailed because of weaker oil prices. I wonder if it will effect prices in the hobby too. Originally Posted by texanalyst

This scenario would probably effect the amount of discretionary income that a worker in the oilfield industry would spend in the hobby.

Other than that, I'm not too sure if that issue would ever effect the hobbying industry as a whole.

This scenario would most likely probably effect the discretionary income that a worker in the oilfield industry would spend in the hobby.

Other than that, I'm not too sure if oil would ever effect the whole hobbying industry on a whole. Originally Posted by BrownSugarBaby

Doesn't effect me one way or another, I'm retired. I do have a small business that caters to the Auto industry. When gas prices go down, their business improves. I don't have to work, that is just play money. I made as much this month as the total of last month.

Doesn't effect me one way or another, I'm retired. I do have a small business that caters to the Auto industry. When gas prices go down, their business improves. I don't have to work, that is just play money. I made as much this month as the total of last month. Originally Posted by OldLRRP

Well, Good for you.

Well, Good for you. Originally Posted by BrownSugarBaby

That did sound arrogant and I apologize. I am fortunate after working very hard and not always in the best circumstances, I was able to retire. Since I retired, I started my own business. The only ass I have to report to is me.

I remember buying gas at $1.27 a gallon at the end of 2008, and $3.90 some 40 months prior, just after Katrina.. kind of shocking how elastic prices can be. Originally Posted by Chung Tran

I don't think it ever hit $1.27 it did dropped significantly- what amazes me is when people tie George Bush to the drop in oil prices- he nor any President has any control of oil prices directly. When it hit that low you have to remember that is when we the economy was collapsing it was strictly supply and demand as many have point out- oil prices are directly related to consumption. As more Green cars get on the road the less demand for oil- I the Saudis were smart they would keep Oil prices perhaps in the $2 dollar range and thereby stop the momentum of the electric car and green cars.

That did sound arrogant and I apologize. I am fortunate after working very hard and not always in the best circumstances, I was able to retire. Since I retired, I started my own business. The only ass I have to report to is me. Originally Posted by OldLRRP

No need to apologize. Nothing wrong with taking pride in your accomplishments, but you don't have to prove it to anyone else (or an internet forum) for that matter.

I do however, commend you for all your hard work, and I'm pretty sure the girls you have seen with that money are very appreciative as well. Or, at least, I hope they are.

Nonetheless, enjoy your retirement.

I don't think it ever hit $1.27 it did dropped significantly- what amazes me is when people tie George Bush to the drop in oil prices- he nor any President has any control of oil prices directly. When it hit that low you have to remember that is when we the economy was collapsing it was strictly supply and demand as many have point out- oil prices are directly related to consumption. As more Green cars get on the road the less demand for oil- I the Saudis were smart they would keep Oil prices perhaps in the $2 dollar range and thereby stop the momentum of the electric car and green cars. Originally Posted by wellendowed1911

. If a President supports or doesn't support domestic and off shore drilling could have a lot to do with oil prices.

. If a President supports or doesn't support domestic and off shore drilling could have a lot to do with oil prices. Originally Posted by jwood

I think that was proven incorrect in the last PRES Debate- if the U.S opened up all the drilling it could both domestic and off shore- it would create jobs- but would have minimal impact on oil prices. Again Oil prices are a global issue again supply and demand- here is an article where 20 experts all agreed that drilling domestically or off shore would do little to lower gas prices: http://mediamatters.org/blog/2012/03...as-pric/184040

Ken Green, American Enterprise Institute, "If the U.S. produced more of its own oil, it would probably reduce imports, but it's not likely that it would reduce prices ... We probably cannot produce so much oil to exert downward pressure on prices compared to the world market."

Peter Van Doren and Jerry Taylor, Cato Institute: "Sure, more domestic oil creates the possibility of fewer refined imports tied to the price of Brent crude, but given that the price of Brent sets the price for crude generally, the result would be more profit for domestic crude producers rather than significantly lower gasoline prices for Americans (not that there's anything wrong with that)."

Doug Holtz-Eakin, American Action Forum: "Domestic action to increase production will not lower gas prices set on a global market."

Christopher Knittel, MIT economist: "There are not many markets where the United States can't impose its will on market outcomes ... This is one we can't, and it's hard for the average American to understand that and it's easy for politicians to feed off that."

Pinelopi Goldberg, Yale economist: "US domestic policy has only tiny effect on the world price of oil. US foreign policy is probably more relevant than energy policy."

Steve Koonin, Institute for Defense Analyses: "When you hear the international oil companies advocating for energy independence, it's really about making money, which isn't a bad thing ... If they produce a million more barrels a day, they're not going to change the global price much. And since they know the global price is going up, they'll just make more money. There's nothing wrong with that, but it doesn't solve the price problem or the greenhouse gas problem."

Michael Levi, Council on Foreign Relations: "The amount of oil you produce at home doesn't affect the price ... You can lower your vulnerability to price by lowering your consumption of oil, but not by increasing your production."

Severin Borenstein, UC Berkeley economist: "Producing more oil domestically will enrich the U.S. economy, particularly U.S. oil companies and their workers. With oil so valuable, it may be a good idea, though the value must be weighed against environmental consequences. But it will have no discernible impact on gas prices, because it will change the world's supply/demand balance for oil by less than 2 or 3 percent over a decade or more."

David Peterson, Duke statistician: "U.S. production and demand have little to do with the price of gasoline in the U.S."

Edward Melnick, NYU statistician: When U.S. production goes up, the price of gas "is certainly not going down ... The data does not suggest that whatsoever."

David Sandalow, former Brookings fellow: "Drilling offshore to lower oil prices is like walking an extra 20 feet per day to lose weight. ... It's just not going to make much of a difference."

Tom Kloza, Oil Price Information Service: "This drill drill drill thing is tired ... It's a simplistic way of looking for a solution that doesn't exist."

Richard Newell, former Administrator of Energy Information Administration: "We do not project additional volumes of oil that could flow from greater access to oil resources on Federal lands to have a large impact on prices given the globally integrated nature of the world oil market."

Dean Baker, Center for Economic and Policy Research: "There is almost no disagreement among economists that drilling everywhere all the time offshore will have almost no impact on the price of gas in the United States. The reason is that we have a world market for oil. The additional oil that might come from offshore drilling is a drop in the bucket in a world oil market of almost 90 million barrels a day."

Lou Crandall, Wrightson ICAP LLC: "Higher oil prices today are a global phenomenon, and the additional supply from increased drilling by the U.S. would not alter the global balance of supply and demand greatly. Gasoline prices at the pump would be higher either way. The only difference is that a somewhat larger share of the revenue would accrue to domestic interests (governmental and private) rather than to foreign suppliers."

Paul Bledsoe, Bipartisan Policy Center: "The notion that somehow we can produce so much domestically that we will move the global price is incorrect."

Tom O'Donnell, The New School: "The amount of extra oil that the U.S. would produce, as far as affecting the world price of oil, is almost insignificant."'

Deborah Gordon, Carnegie Endowment for International Peace: "We can drill doggedly in our own backyards, but the price of gasoline will remain more a matter of speculation over externally-driven factors than tapping new sources of oil at home."

Joseph Dukert, energy analyst: "Americans tend to exaggerate the price effects of fluctuations in domestic production in relation to the total amount of oil in global trade. On the larger stage, the perception of geopolitical risks is more important."

Phyllis Martin, Energy Information Administration: "In 2009, the U.S. produced about 7 percent of what was produced in the entire world, so increasing the oil production in the U.S. is not going to make much of a difference in world markets and world prices ... It just gets lost. It's not that much.

I don't think it ever hit $1.27 it did dropped significantly Originally Posted by wellendowed1911

it did.. maybe not in TONY Allen, Texas... but south Arlington, yes.. I remember it like yesterday... went in to work that day, my Boss commented about the price, he had seen it.. this was December 29

http://www.sciforums.com/threads/pri...ppened.106755/

prices were diving, no one knew where the bottom would be.. turns out $1.27 was the bottom, they quickly rebounded to $1.45, or so, in 3-4 days.. as the article above shows, some promotions had prices at 99 cents!

I'm pretty sure the girls you have seen with that money are very appreciative as well. Or, at least, I hope they are.

Nonetheless, enjoy your retirement. Originally Posted by BrownSugarBaby

Thank you. I don't know how much they appreciate it but it has put a smile on my face.