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Thread: And we thought cheap oil was forever

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    donttread's Avatar Senior Member
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    And we thought cheap oil was forever

    Remember when the gas prices fell a couple of years ago and we all were told that between our own enery production and other reasons oil would stay cheap.? But yet gas prices have been rising for a while and the seasonal price gouging with fuel oil is in full swing. So what happend to the supposed supply and demand economics we were told about a couple of years ago?
    Did an oil exec. miss a payment on the million dollar home he keeps for his second mistress or something?

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    Ethereal's Avatar Senior Member
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    Oil is still pretty cheap.
    Two things awe me most, the starry sky above me and the moral law within me.
    --Immanuel Kant

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    countryboy's Avatar Senior Member
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    Quote Originally Posted by donttread View Post
    Remember when the gas prices fell a couple of years ago and we all were told that between our own enery production and other reasons oil would stay cheap.? But yet gas prices have been rising for a while and the seasonal price gouging with fuel oil is in full swing. So what happend to the supposed supply and demand economics we were told about a couple of years ago?
    Did an oil exec. miss a payment on the million dollar home he keeps for his second mistress or something?
    TBH, I don't remember being told that. Many of our domestic resources aren't cost efficient at today's barrel price. When the bottom fell out of oil prices a couple of years ago, it pretty much ended the fracking boom. We actually need oil prices to climb a bit before that comes back.

    Progressivism, ideas so good, they have to be mandatory

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    waltky's Avatar Senior Member
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    Allowing Saudi Arabia to drill in Alaska...

    ... an' allowin' Bushes cronies to sell oil to other producers...

    ... ain't helpin' matters much.

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    Crepitus (01-10-2018),donttread (01-10-2018)

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    Quote Originally Posted by donttread View Post
    Remember when the gas prices fell a couple of years ago and we all were told that between our own enery production and other reasons oil would stay cheap.? But yet gas prices have been rising for a while and the seasonal price gouging with fuel oil is in full swing. So what happend to the supposed supply and demand economics we were told about a couple of years ago?
    Did an oil exec. miss a payment on the million dollar home he keeps for his second mistress or something?
    I pay 3 cents a gallon more. Texas refinaries being down accounts for that.

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    donttread's Avatar Senior Member
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    Quote Originally Posted by Ethereal View Post
    Oil is still pretty cheap.
    OK then why are gas and kerosene going up? Who's profiteering where?

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    donttread's Avatar Senior Member
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    Quote Originally Posted by Captdon View Post
    I pay 3 cents a gallon more. Texas refinaries being down accounts for that.

    Three cents a gallon more than when? Up here the increases during the last year have been on the news. And I've seen them at the pump. As a matter of fact AAA says 2018 kicked off with the highest gas prices since 2014. I think you are the frog in the slowly warming water.. There were individual WEEKS last year where gas went up more than 3 cents.
    Last edited by donttread; 01-10-2018 at 06:04 PM.

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    Quote Originally Posted by countryboy View Post
    TBH, I don't remember being told that. Many of our domestic resources aren't cost efficient at today's barrel price. When the bottom fell out of oil prices a couple of years ago, it pretty much ended the fracking boom. We actually need oil prices to climb a bit before that comes back.
    I've always felt that gas prices decreased heavily periodically to discourage alternate energy or methods. Oh course that wouldn't happen in a real free market. But there hasn't been one of those in oil in decades if there ever was one. In the absence of a free market we need consumers with foresight. So therefore we are $#@!ed.

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    Quote Originally Posted by donttread View Post
    Remember when the gas prices fell a couple of years ago and we all were told that between our own enery production and other reasons oil would stay cheap.? But yet gas prices have been rising for a while and the seasonal price gouging with fuel oil is in full swing. So what happend to the supposed supply and demand economics we were told about a couple of years ago?
    Did an oil exec. miss a payment on the million dollar home he keeps for his second mistress or something?
    $2.20 for 87 last time I filled up (which was a few days ago) which was higher than usual. It had been floating back and forth in the $2.00-$2.10 range until the holidays came and global warming dropped temps to the single digits. That means gas down the road is about $2.80 right now because the neighboring state's higher tax rate keeps it consistently 50 cent more a gallon.

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    Quote Originally Posted by Kacper View Post
    $2.20 for 87 last time I filled up (which was a few days ago) which was higher than usual. It had been floating back and forth in the $2.00-$2.10 range until the holidays came and global warming dropped temps to the single digits. That means gas down the road is about $2.80 right now because the neighboring state's higher tax rate keeps it consistently 50 cent more a gallon.

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