This is going to hit Putin and Russia's economy very hard.
-
Welcome to Baptist Board, a friendly forum to discuss the Baptist Faith in a friendly surrounding.
Your voice is missing! You will need to register to get access to all the features that our community has to offer.
We hope to see you as a part of our community soon and God Bless!
Oil prices tumble again after Goldman slashes outlook
- Thread starter Crabtownboy
- Start date
When oil was $85-$87 a barrel, gas prices in the Twin Cities went down to $2.89 a gallon. Now that oil is under $80 a barrel gas prices have gone up to $3.29 a gallon. Kind of a mystery.
Did taxes per gallon go up or is it oil companies going for higher profits, or both?
Gas is 2.76 here.
I'm sure it is the oil companies going for higher profits, probably by shutting down production at refineries for "maintenance" or to switch over to winter blended gasoline. This creates an artificial shortage of refined gasoline so prices will rise.
Nice.
Can't believe I'm actually saying $2.76 a gallon gas is a nice price, but given recent history, say, the Obama administration, it is a nice price.
There is actually a gas and oil boom going on right now. No thanks to Obama but it is all going on, on private lands. This area is benefiting greatly from it. (not that it changes local gas prices) If you can't find a job around here you aren't really looking for one. Hotels are full every week due to oil field workers. There is no way that there is a shortage anywhere in this country right now.
It is about $3.10 here. It would be very cheap if we had a real President who wanted to help people by opening up federal lands to production and building the pipeline down from Canada. The Democrats are cheapskates who want a class system so that they can stay on top.
We've got the same thing going on next door in North Dakota. There's an oil rush going on. The Bakken oil fields are producing like crazy. There is kind of a wild west flavor to it.
1. The pipeline is to get oil to the gulf ports for export, not for domestic use.
2. Oil companies do not want the gas to go too low. They want to earn profits.
3. I wonder to what extent the US and Saudi Arabia are contributing to the oil glut in order to harm Putin and the Russian economy. Seems I remember reading that Russia needs $100 a barrel before they turn a profit. So, they are in the red for every barrel they produce below that rate, but it is even worse if they produce nothing. Nasty problem for Putin.
Sapper Woody
Well-Known Member
West of Little Rock we've seen gas drop from 3.05 down to 2.75 in the last week.
The oil is for our use, not export. That is a Democrat talking point that is not true.
Oil companies make money based upon the cost. They will still make money regardless of what they pay for the raw material. It is like liberals who charge high prices for everything.
If this is an attempt to put pressure on Russia, it is too little too late. But what it really shows is that economic prospects are not good and that is why liberals are so worried about the stock market. OK?
I just paid $2.69 this morning. Keep dropping baby:laugh:
convicted1
Guest
$3.199 here in western-WVa/eastern-KY....
As ITL already stated, when oil was $90.00/barrell, it was $3.00 gal. Now that it's less than $90.00 per, we've been paying more per gallon. Greed is gonna tear us down...
As ITL already stated, when oil was $90.00/barrell, it was $3.00 gal. Now that it's less than $90.00 per, we've been paying more per gallon. Greed is gonna tear us down...
So how just who is it that you believe is driving up gas prices in only selected areas in the country.
http://www.gaspricewatch.com/KY-kentucky/Ashland/gas-prices/page-1/2.htm
Last edited by a moderator:
http://www.gaspricewatch.com/KY-kentucky/Olive-Hill/gas-prices/page-1/2.htm
What happens is that when some stations do not sell as much as in other areas they do not get the prices as areas where there is more demand. It is not greed it is supply and demand.
What happens is that when some stations do not sell as much as in other areas they do not get the prices as areas where there is more demand. It is not greed it is supply and demand.
convicted1
Guest
In eastern ky gas prices do seem higher. Maybe because they keep prices clloser to WV? WV has higher taxes on gas I'm thinking...
Gas taxes range from 30 to 60 cents per gallon.
18.4 cents is for Federal, the rest is state taxes.
The range is about 30 to 60 cents per gallon
18.4 cents is for Federal, the rest is state taxes.
The range is about 30 to 60 cents per gallon
The higher oil prices over the last decade made it economically feasible for businesses in the United States to begin extracting the oil in our country.
We have now became one of the worlds big oil producers and so prices have dropped. More oil + less demand = lower prices.
As a consequence, the lower price per barrel limits Russia's ability to field an army, they just don't have the money.
It's the only thing Obama has going for him, sadly I believe it was despite his policies rather than a plan.
The prices at the pump in many states, (particularly Pennsylvania where I live), have remained high because states have increased their taxes on gasoline.
Rob