$2.00/gal gas on horizon?

[PlatyPius 5]

Brownsburg Indiana is at $1.83/gallon. Damn. I just filled up today for $2.19/gallon. Still.....half of what it was a few months ago.

Do I hear $0.96/gallon? LOL!

(Damn, I miss those days....)

[spookyturtle 9,466]

As soon as Obama is elected, gas will be .35 cents like it was before the first oil embargo in 1973. I am already marking the days on my calendar.

[mawilson 2,133]

Hmm...It's going back up because OPEC vows to cut 1.5 millions barrels/day. Lets hope the car manufacturers keep producing those hybrids!

It doesn't really matter what OPEC does.

Volatility is still extremely high, which means that the waves of indiscriminate selling

across all asset classes are not over yet. Oil is seen as a risky asset class and

prices could slip to $50 a barrel or lower if investors keep unwinding their positions.

[rebeccajo 14]

Did people not expect the price of gasoline to go down as the Texas oil man leaves office?

[Saddle Bronc 124]

Did people not expect the price of gasoline to go down as the Texas oil man leaves office?

Probably had little to do with it--see below

As soon as Obama is elected, gas will be .35 cents like it was before the first oil embargo in 1973. I am already marking the days on my calendar.

A few salient facts against that; in 1973:

• China had a total of less than 60,000 cars and maybe 240,000 jeeps/lorries (in mil service) and was (officiously) self-sufficient in oil
• India had less than 700,000 cars and less than 1,300,000 2/3-wheelers--importing 300,000 bbl/day oil

Now:

• China produces over 8,000,000 cars per year, and imports over, produces 3,100,000 bbl/day oil
• India produces 2,400,000 cars per year and imports 1,900,000 bbl/day oil (a number which will certainly NOT decrease prior to 2030)

Edited October 30, 2008 by CherryXS

[rebeccajo 14]

Did people not expect the price of gasoline to go down as the Texas oil man leaves office?

Probably had little to do with it--see below

As soon as Obama is elected, gas will be .35 cents like it was before the first oil embargo in 1973. I am already marking the days on my calendar.

A few salient facts against that; in 1973:

• China had a total of less than 60,000 cars and maybe 240,000 jeeps/lorries (in mil service) and was (officiously) self-sufficient in oil
• India had less than 700,000 cars and less than 1,300,000 2/3-wheelers--importing 300,000 bbl/day oil

Now:

• China produces over 8,000,000 cars per year, and imports over, produces 3,100,000 bbl/day oil
• India produces 2,400,000 cars per year and imports 1,900,000 bbl/day oil (a number which will certainly NOT decrease prior to 2030)

Thanks. That's an excellent point.

Between 1973 and 2001 fuel prices in America rose from around 37 cents per gallon to $1.29 or so.

In the 7 years since 2001 (with an emphasis on the time since Katrina) pump prices more than tripled.

India and China are players in global fuel costs and consumption. But the oil companies have been playing a shell game with our wallets. Game over January 20, 2009. No matter who wins the White House on Tuesday.

[Saddle Bronc 124]

Did people not expect the price of gasoline to go down as the Texas oil man leaves office?

Probably had little to do with it--see below

As soon as Obama is elected, gas will be .35 cents like it was before the first oil embargo in 1973. I am already marking the days on my calendar.

A few salient facts against that; in 1973:

• China had a total of less than 60,000 cars and maybe 240,000 jeeps/lorries (in mil service) and was (officiously) self-sufficient in oil
• India had less than 700,000 cars and less than 1,300,000 2/3-wheelers--importing 300,000 bbl/day oil

Now:

• China produces over 8,000,000 cars per year, and imports over, produces 3,100,000 bbl/day oil
• India produces 2,400,000 cars per year and imports 1,900,000 bbl/day oil (a number which will certainly NOT decrease prior to 2030)

Thanks. That's an excellent point.

Between 1973 and 2001 fuel prices in America rose from around 37 cents per gallon to $1.29 or so.

In the 7 years since 2001 (with an emphasis on the time since Katrina) pump prices more than tripled.

India and China are players in global fuel costs and consumption. But the oil companies have been playing a shell game with our wallets. Game over January 20, 2009. No matter who wins the White House on Tuesday.

Unfortunately, false, as it only amounts to the removal of one "player" from an oligopoly--so reality, shell-game goes on status-quo-ante. Edited October 30, 2008 by CherryXS

[*JG* 2]

In southern Missouri, I hear we have hit $1.88 in some places.

I just can't help but think it has to do with the election next week and all hell will break loose again after.

[IAMX 3,055]

Did people not expect the price of gasoline to go down as the Texas oil man leaves office?

Probably had little to do with it--see below

As soon as Obama is elected, gas will be .35 cents like it was before the first oil embargo in 1973. I am already marking the days on my calendar.

A few salient facts against that; in 1973:

• China had a total of less than 60,000 cars and maybe 240,000 jeeps/lorries (in mil service) and was (officiously) self-sufficient in oil
• India had less than 700,000 cars and less than 1,300,000 2/3-wheelers--importing 300,000 bbl/day oil

Now:

• China produces over 8,000,000 cars per year, and imports over, produces 3,100,000 bbl/day oil
• India produces 2,400,000 cars per year and imports 1,900,000 bbl/day oil (a number which will certainly NOT decrease prior to 2030)

Thanks. That's an excellent point.

Between 1973 and 2001 fuel prices in America rose from around 37 cents per gallon to $1.29 or so.

In the 7 years since 2001 (with an emphasis on the time since Katrina) pump prices more than tripled.

India and China are players in global fuel costs and consumption. But the oil companies have been playing a shell game with our wallets. Game over January 20, 2009. No matter who wins the White House on Tuesday.

I can only imagine how great things would have been if the EV1 wasn't canned.

I'd gladly be driving one now.

On top of that, it would be nice to see oil companies needing to compete and actually play at the supply and demand level other supply-related commodities do, including crops, concrete, etc.

Edited October 30, 2008 by SRVT

[almaty 19]

exxon just broke another record for profits...so, gas prices were artifically high

[rebeccajo 14]

exxon just broke another record for profits...so, gas prices were artifically high

Exactly.

[IAMX 3,055]

Careful, the profit margin hawks are circling..

[Steph0814 1]

I was down in Clayton county yesterday and I saw that price and I thought the exact same thing. LOL! I live in a transitional neighborhood and for some reason the stations by my house are the last to drop the price.

Oh but you know BJ's down on Camp Creek Pkwy...cheapest gas ever!

$2.19 here south of Atlanta - wondering whether to buy gas now or wait until I really need it in a few more days. Ah, the gamble - will it go lower or not!

[Jasman0717 9]

Gas is always higher in Calif. I was reading the Grand Junction Colo paper online yesterday and there was a station selling gave for $1.71 a gallon. Ugh, I filled up yesterday at $2.99 9/10. Ah, I dream of the good ol days of 13 cents Of course that was during the famous southern Calif gas wars of 1966......I was only two

[almaty 19]

Careful, the profit margin hawks are circling..

so are the class envy folks and name callers...do i hear socialist in the air...