F... gas prices

[BDBohnzie]

Originally Posted by djnemo65

It's a corny wannabe Sheetz. Seriously, up at Penn State I saw so many arguments break out between Philly people hyping Wawa, and the sane normal people who realize Sheetz is way better. If you hate the Eagles' fans you should hate Wawa. Their supporters are one and the same: drunk, annoying, and wrong.

The rolls Wawa uses trumps Sheetz' rolls...it's not even close...

Coffee or Cold Cut Sub, Wawa > Sheetz. Everything else, Sheetz > Wawa.

[mredskins]

I have a Wawa and Sheetz right near me, to me they are the same place. Wawa with the slight edge simply because it is cleaner.

I will say Royal Farms potatoe wedges are the bomb.

[jsarno]

Originally Posted by 724Skinsfan

Wow. We are at $1.29 (Kroger) here in Roanoke. With my Plus CArd savings I paid $0.99/gallon. We're drinking this sh*t with our Cocoa Puffs.

Since everyone blamed Bush for the high gas prices, can we safely assume that Bush is to be commended for this low in gas prices?

[hooskins]

Originally Posted by jsarno

Since everyone blamed Bush for the high gas prices, can we safely assume that Bush is to be commended for this low in gas prices?

No intelligent person puts the blame for oil prices all on a president, that is just stupid.

There are things he does that can impact the price, however. hostile actions not in line with OPEC, not researching enough on alternate energies, etc.

[CRedskinsRule]

Originally Posted by JoeRedskin

I appreciate the drop in gas prices as much as the next guy (I hope all the speculators are eating raman noodles and sleeping in boxes). BUT - I suggest this price reduction is a short term thing that will end when the recovery begins. The same real stresses on oil prices will return. In addition, the remedies being used by the Fed and the US Gov. are inflationary. Eventually, all this money being pumped into the system will drive the actual value of money down and prices up. Right now, with no money in the system (b/c of the lack credit and the loss of real wages), gas prices are falling from both the lower global demand and the depression of prices in general. This will change.

Will they hit 4.00 again soon? I doubt it in 2009 but my guess is that in 2010, with the recovery gianing strength prices will again top 3.00

Now is the time to invest the oil savings in the infrastructure of alternative tech.

Don't get me started Bro!

[CRedskinsRule]

Originally Posted by jsarno

Since everyone blamed Bush for the high gas prices, can we safely assume that Bush is to be commended for this low in gas prices?

HECK NO, The oil companies feared The Obama so they have brought the prices back down!

[GTripp0012]

Originally Posted by CRedskinsRule

HECK NO, The oil companies feared The Obama so they have brought the prices back down!

If this is true, and they are selling at a loss of $2.00 per gallon or more, then why don't they fear him enough to go out of business? Something ain't right.

[JoeRedskin]

Originally Posted by CRedskinsRule

HECK NO, The oil companies feared The Obama so they have brought the prices back down!

Ooops. You forgot to turn on your sarcasm font.

[dmek25]

Originally Posted by GTripp0012

If this is true, and they are selling at a loss of $2.00 per gallon or more, then why don't they fear him enough to go out of business? Something ain't right.

you really think they are losing money?

[GTripp0012]

Originally Posted by dmek25

you really think they are losing money?

No. I think it's an insane idea to believe they'd be willing to sell at that much of a loss and not go out of business. But it's an implication that has to be made in order to credit the aura of Obama for the drop in gas prices.

The price of oil per barrel is hovering around $50 now. It was around $140 this summer. That's the reason: global demand is down 10% because there's no global economic growth.

[70Chip]

Originally Posted by GTripp0012

No. I think it's an insane idea to believe they'd be willing to sell at that much of a loss and not go out of business. But it's an implication that has to be made in order to credit the aura of Obama for the drop in gas prices.

The price of oil per barrel is hovering around $50 now. It was around $140 this summer. That's the reason: global demand is down 10% because there's no global economic growth.

A 10% drop in demand causes a 65% drop in price? If Opec cuts production 10% ( and were able to enforce it) , will the price go back to $140? I still think there is a lot of speculation involved. Money chases money in both directions and there is no law that says the flow has to necessarily be rational. Especially when people's vision does not extend beyond the next five minutes.

Of course the idea that the oil companies have lowered the price as an homage to Obama is an idea just stupid enough for most Obama supporters to believe.

[MTK]

Originally Posted by 70Chip

A 10% drop in demand causes a 65% drop in price? If Opec cuts production 10% ( and were able to enforce it) , will the price go back to $140? I still think there is a lot of speculation involved. Money chases money in both directions and there is no law that says the flow has to necessarily be rational. Especially when people's vision does not extend beyond the next five minutes.

Of course the idea that the oil companies have lowered the price as an homage to Obama is an idea just stupid enough for most Obama supporters to believe.

It was a joke.

[dmek25]

i like how Obama is getting all the headlines, and hasn't set foot into the white house yet. i guess old W. is the epitome of a " lame" duck

[GTripp0012]

Originally Posted by 70Chip

A 10% drop in demand causes a 65% drop in price? If Opec cuts production 10% ( and were able to enforce it) , will the price go back to $140? I still think there is a lot of speculation involved. Money chases money in both directions and there is no law that says the flow has to necessarily be rational. Especially when people's vision does not extend beyond the next five minutes.

Of course the idea that the oil companies have lowered the price as an homage to Obama is an idea just stupid enough for most Obama supporters to believe.

If OPEC cut production 10%, it would probably go past 140. 10% is a ridculously massive amount, and based on the current reliance of economies on cheap oil, it would probably border on inhumane for OPEC to do that for no real good reason.

I think OPEC cut production like 1.5% in November to prevent the industry from being floored, and that meant (I think, I'm not sure on this number, I might have an extra zero) 150 million fewer barrels per day produced.

[onlydarksets]

Originally Posted by GTripp0012

If OPEC cut production 10%, it would probably go past 140. 10% is a ridculously massive amount, and based on the current reliance of economies on cheap oil, it would probably border on inhumane for OPEC to do that for no real good reason.

I think OPEC cut production like 1.5% in November to prevent the industry from being floored, and that meant (I think, I'm not sure on this number, I might have an extra zero) 150 million fewer barrels per day produced.

Looks like 2 extra zeros:
http://www.nytimes.com/2008/12/18/bu...ss/18opec.html
According to the NYT, since September OPEC has made cuts totaling 4.2 million barrels a day (including a 2.2 million barrel/day pledge yesterday), which represents a 12% reduction since September.