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Thread: Oil and Gas

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    Oil and Gas

    Well here's another week in a gloomy economy, and another week of falling oil prices. Oil is down more than 8% on the day and currently trading at just under $50 per barrel. I never thought I'd see it like this. The economy may be in shambles, but this is at least one bright spot to be thankful for... for the moment.

    I realize that cheap oil isn't necessarily the best thing, because it will slow down alternative energy research. I hope the funding will continue to stay for these projects because I don't think prices will stay too far down for any extended period of time. Eventually the world economy will spark again, and the demand for oil will again rise.

    Gas is currently $1.75 in Ames... good for me! I can only imagine it dropping even further after today's oil plunge.



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    Re: Oil and Gas

    For some odd reason, Ames is consistently 6-15 cents more expensive than Des Moines and Ankeny.



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    Re: Oil and Gas

    Quote Originally Posted by iowast8fan View Post
    For some odd reason, Ames is consistently 6-15 cents more expensive than Des Moines and Ankeny.
    Yeah thats weird it's (ethanol blend) currently like 1.63 in WDM.


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    Re: Oil and Gas

    Quote Originally Posted by iowast8fan View Post
    For some odd reason, Ames is consistently 6-15 cents more expensive than Des Moines and Ankeny.
    And Ames is 10 cents cheaper than the rest of the state. Enjoy it.



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    Re: Oil and Gas

    It's 1.67 by my house.

    42 gallons in 1 Barrel - $70.14


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    Re: Oil and Gas

    Oil companies are already canceling drilling plans, R&D plans, etc, in lieu of decreased revenues...nevermind the checks they cashed the last four years. Stuff like that ticks me off, especially when these companies get fat off breaks from Uncle Sam.

    But I am shocked its under 50. I honestly never thought we'd see that again.


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    Re: Oil and Gas

    Quote Originally Posted by iowast8fan View Post
    For some odd reason, Ames is consistently 6-15 cents more expensive than Des Moines and Ankeny.
    That was always the rule when I was going to college from 1997-2003 (one time it was selling for $.99/gal in Ames and $.79/gal in Ankeny)


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    Re: Oil and Gas

    Quote Originally Posted by cstrunk View Post
    Well here's another week in a gloomy economy, and another week of falling oil prices. Oil is down more than 8% on the day and currently trading at just under $50 per barrel. I never thought I'd see it like this. The economy may be in shambles, but this is at least one bright spot to be thankful for... for the moment.

    I realize that cheap oil isn't necessarily the best thing, because it will slow down alternative energy research. I hope the funding will continue to stay for these projects because I don't think prices will stay too far down for any extended period of time. Eventually the world economy will spark again, and the demand for oil will again rise.

    Gas is currently $1.75 in Ames... good for me! I can only imagine it dropping even further after today's oil plunge.
    Yeah, quit your ******** - the cheapest I can find in Davenport/Eldridge is $1.93...


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    Re: Oil and Gas

    Enjoy it while you can. I saw Buffett on some finance show last week, and he guaranteed that it will be back at $100 a barrel in the next 12 months.



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    Re: Oil and Gas

    WHOA!!!! Hey, Jon....I hope you paid top dollar for that 7 legged spider.



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    Re: Oil and Gas

    Quote Originally Posted by candg4ever View Post
    Enjoy it while you can. I saw Buffett on some finance show last week, and he guaranteed that it will be back at $100 a barrel in the next 12 months.
    Yes, because they will cut oil production down so much that it drives prices back up.



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    Re: Oil and Gas

    Yeah ... the people ******** are the ones that live in two of the cheapest counties in the state !!

    Iowa Gas Prices



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    Re: Oil and Gas

    Soon, your tax money will be bailing out struggling oil companies.


    Oh, the irony......haha


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    Re: Oil and Gas

    Paid $27 to fill up the truck last night; I'm not going to complain at all...



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    Re: Oil and Gas

    Quote Originally Posted by JonDMiller View Post
    Oil companies are already canceling drilling plans, R&D plans, etc, in lieu of decreased revenues...nevermind the checks they cashed the last four years. Stuff like that ticks me off, especially when these companies get fat off breaks from Uncle Sam.

    But I am shocked its under 50. I honestly never thought we'd see that again.
    This has been my gripe of oil companies all along. And still the main reason we need to rid our world of them (eventually). When prices are high, they claim to always work under the same margins, so, their huge profits really don't mean that much and they gloatingly reap the rewards. Then, when prices are low, they always claim to not have the money to expand and beef up their infrastructure because of course, they work on tight margins. I understand that 8% of $1 is a heck of a lot less than 8% of $4. But, they never seem to be able to do the right thing and build what they need to when they are raking in the profits. What happened to all that money they made over the summer? I know we all thought we'd never see oil this low again, but I have a strong feeling this drop in price is going to end up hitting us harder in the *** than the last 10 years of low gas prices did.



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