DonasaurusRex
Online Ho Champ
surely the gas prices have gone down , are there high taxes on gas in your area or something. It's sub 2 bucks here in PA, Philly area, i bet 40 cents cheaper in NJ.
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Oil hits 2003 low after Iran output increase report
- Thread starter Vanillalite
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surely the gas prices have gone down , are there high taxes on gas in your area or something. It's sub 2 bucks here in PA, Philly area, i bet 40 cents cheaper in NJ.
diablos991
Can’t stump the diablos
Not likely because of taxes.
I still remember when I could fill a 13 gallon tank and get lunch at McDonalds for $20.
There's no magic Philosopher's Stone to convert oil into gasoline. Everything else involved in the process is still subject to inflation from 2001 prices.
Inflation?
Manmademan
Member
At prices this low it discourages drilling period.
AstroNut325
Member
I really need to hurry and get myself an EV while they're cheap.
djplaeskool
Member
Man.
Reserve light was on.
Stopped by the station.
Pump clicked full at $18.
Smile on my face.
I know it's a bad thing for a lot of places but...
there was a smile on my face.
RIP North Dakota.
I agree, but the runup was also necessary to prove that technology makes a true oil shortage impossible. Once you get past $80, all kinds of unconventional extraction techniques become viable.
I remember hearing the head of Continental Resources say in late 2014 that $70 was a fair price for a barrel of oil. That's like hearing a wheat farmer say how much he'd like to sell his product for, and signalled to me that the true number was closer to $35.
Iorv3th
Member
Yes. I doubt you will find any fracking going on right now, or not much of it anyway. It's too expensive to frack at current prices.
In CA I think they refine their own gas and use a different blend then the rest of the country that is more expensive to produce.
It's a true glut. Shale producers are sitting on large reserves and are waiting for prices to go up before they drill. But do you see the problem? Once proces go up, they start to drill again and flood the market with more oil. It's very similar to the 80s crash.
I"m usually against regressive taxes, but in terms of the gas tax I'm all for increasing it as long as oil remains dirt cheap. Stipulation being that 99.9% of that extra tax money goes only to infrastructure and alternative energy projects.
Cause Iran is just going to keep pumping oil and not giving a fuck and who knows when China demand will rebound. And since the shale oil genie is out of the bag, even when prices go back up then we'll still be dealing with an abundant supply. And then the cycle repeats.
Cause Iran is just going to keep pumping oil and not giving a fuck and who knows when China demand will rebound. And since the shale oil genie is out of the bag, even when prices go back up then we'll still be dealing with an abundant supply. And then the cycle repeats.
Ziltoidia 9
Member
Raise the gas tax a lot, rebuild our infrastructure using people that will lose jobs in the gas downturn.
Yup.....also super glad I decided to not get a job in the oil industry, was really close.
smokeandmirrors
Banned
this. and invest more into green stuff.
StopMakingSense
Member
California's gas tax is only 18 cents over the national average. The main reason is that California is considered a "gas island" where the sources of gas that come to CA are very limited, combined with the special blend of gas that CA requires, means that supply issues/manipulation can have a heavy impact on gas prices.
This is where the "oh another refinery must have blown up" joke comes from, as there are often oddly timed unscheduled refinery issues whenever there is a major drop in the oil price.
rokkerkory
Member
emergencies repairs to all cali refineries, stat!
Won't work when gas prices shoot up again in a few years and the high taxes hurt consumer spending more than the revenue from gas taxes helps.
LiquidMetal14
hide your water-based mammals
We're at about 1.85 here in FL and I know it's cheaper in other parts not far from me as well.
You enact a price floor instead of a permanent tax. No idea how feasible it is or how to even collect
Corronchilejano
Member
Well, first time I've actually considered leaving my country.
eBay Huckster
Member
Canada's economy continues to collapse, clean energy adoption slows down just like it did with the '90s glut, and the climate continues to go to shit.
It's great. I get to spend more money on other necessities.
$1.79 when I filled up here in Orlando before taking the fam to St. Petersburg for the weekend
$1.79 when I filled up here in Orlando before taking the fam to St. Petersburg for the weekend
While it is indeed devastating for economies based on oil there are some straight up delusional people in this thread. We should artificially raise prices? Get out of here with that bullshit.
This is the first real break the average family has had in ages. Everything else continues to rise in price while their wages have stagnated or dropped. Falling away from the days where $4 was a real potential is a huge savings for these families.
Of course all the bullshit excuses stores gave for hiking food prices etc. like high fuel transportation costs aren't valid anymore but you wont see food prices dropping and instead continue to rise.
This is the first real break the average family has had in ages. Everything else continues to rise in price while their wages have stagnated or dropped. Falling away from the days where $4 was a real potential is a huge savings for these families.
Of course all the bullshit excuses stores gave for hiking food prices etc. like high fuel transportation costs aren't valid anymore but you wont see food prices dropping and instead continue to rise.
ChetWilson
Banned
I miss .89/.99/1.29 gas
UnemployedVillain
Member
Some people seem to have a hard time grasping that jobs will ALWAYS be lost as time goes by. Going by some people here we should still be using all human assembly lines, horse draw carriages and other less efficient means for the sake of preserving those jobs
davepoobond
you can't put a price on sparks
yep, you see it in full display in every "autonomous car" thread
paragonpro
Banned
The wawa i go to for gas In new jersey has it at about 1.65 now
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