How bout DEM gas prices..

[Pants II]

The 'why' is making the rounds in the international media.

You have 3 guesses.

[tanner12oz]

$2.15 still here..highest gas taxes in the country

[joeydb]

Is anyone here against cheap gas?? Not me. I love it. Cheaper the better.

[bigrun]

Dropped another nickel today..$1.58

[Danzig]

Originally Posted by joeydb

Is anyone here against cheap gas?? Not me. I love it. Cheaper the better.

actually just had someone leave me office who isn't happy about it. he and his whole crew were laid off from a rig a couple months back due to the lower prices. so yes, price wise it's great....for their employees, not so much.

[joeydb]

Originally Posted by Danzig

actually just had someone leave me office who isn't happy about it. he and his whole crew were laid off from a rig a couple months back due to the lower prices. so yes, price wise it's great....for their employees, not so much.

True. That makes sense. For most people not in the oil industry, I would think the recent discount is a good thing.

[Rudeboyelvis]

Originally Posted by Danzig

actually just had someone leave me office who isn't happy about it. he and his whole crew were laid off from a rig a couple months back due to the lower prices. so yes, price wise it's great....for their employees, not so much.

Exactly this. Big Oil is scooping up the smaller operations left and right as they shutter due to the inability to stay afloat due to the depressed prices they are getting for their oil. The deeper pockets are taking a small hit in comparison, but will benefit exponentially once the pendulum swings back the other way.

[jms62]

Well I guess saving a few cents on gas is great as our 401K's crater.

[Danzig]

Another thing that sucks....prices won't come down due to cheaper shipping. But then gas will go up again, and the high gas is blamed for price increases!

[joeydb]

Originally Posted by Rudeboyelvis

Exactly this. Big Oil is scooping up the smaller operations left and right as they shutter due to the inability to stay afloat due to the depressed prices they are getting for their oil. The deeper pockets are taking a small hit in comparison, but will benefit exponentially once the pendulum swings back the other way.

I think you're right, but how is this different from the consolidation and "merger mania" seen in other industries from time to time?

[Danzig]

Originally Posted by joeydb

I think you're right, but how is this different from the consolidation and "merger mania" seen in other industries from time to time?

it's really not, which is why they shouldn't be allowed.
we had banks too big to fail, so we want more industries like that? less competition? monopolies? didn't they learn anything from standard oil?

[OldDog]

Originally Posted by Danzig

actually just had someone leave me office who isn't happy about it. he and his whole crew were laid off from a rig a couple months back due to the lower prices. so yes, price wise it's great....for their employees, not so much.

Another casualty

http://money.cnn.com/2016/01/13/medi...inkId=20335249

[jms62]

Originally Posted by joeydb

Is anyone here against cheap gas?? Not me. I love it. Cheaper the better.

Why am I not shocked you go through life with Blinkers On... Save a couple hundred bucks a year on gas and Lose a couple hundred K a year on your 401-K as we hit our next financial crisis when companies can not service their debt due to..... Wait for it.... Low oil prices... Guess who will be on the hook for covering those bad debts..... Wait for it...... Me and You.... Boy what a country. I lose when I lose and lose more when I win.....

[bigrun]

[saratogadew]

Originally Posted by jms62

Why am I not shocked you go through life with Blinkers On... Save a couple hundred bucks a year on gas and Lose a couple hundred K a year on your 401-K as we hit our next financial crisis when companies can not service their debt due to..... Wait for it.... Low oil prices... Guess who will be on the hook for covering those bad debts..... Wait for it...... Me and You.... Boy what a country. I lose when I lose and lose more when I win.....

correct!

Also, the Saudi's are in overproduction mode. They want cheap oil to drive out the frackers and natural gas industry. Then we will be beholding to them when the prices go to 5.00/gallon.

[jms62]

Joey may get wood


http://finance.yahoo.com/news/oil-so...192245271.html

[bigrun]

Originally Posted by jms62

Joey may get wood


http://finance.yahoo.com/news/oil-so...192245271.html

When the Iranians get cranked up gas will go below a buck

[Danzig]

Originally Posted by saratogadew

correct!

Also, the Saudi's are in overproduction mode. They want cheap oil to drive out the frackers and natural gas industry. Then we will be beholding to them when the prices go to 5.00/gallon.

http://money.cnn.com/2016/01/05/news...il-budget-gas/

Not quite.
The saudis are in a world of hurt right now because of oil. They give a lot of free or super cheap stuff to their citizens to keep them from rising up. And right now thei budget is so far in the red they are really starting to worry.
Be sure to hit the economic bomb link, takes you to another more in depth article about saudi arabia.
Things are only about to get worse in the middle east.

[tanner12oz]

2.39-2.45 here.. Pa taxes gotta love it

[Danzig]

http://www.upi.com/Business_News/Ene...2121460120444/

funny we accept low gas prices as a boon, and ignore layoffs that accompany them, because hey my wallet.
but let anyone suggest a min wage increase....because even tho studies show layoffs are negligible, as are price increases, people gonna believe what they want.