Oil Prices

Discussion in 'Off-Topic' started by cstrunk, Dec 19, 2008.

  1. cstrunk

    cstrunk Well-Known Member

    Mar 21, 2006
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    Tyler, TX
    I noticed no one had mentioned anything yet... but oil is down to $33.87 per barrel. Unbelievable.

    Also of note, this recent price drop is AFTER OPEC had announced it's biggest production decrease ever (2.2 million barrels). It shows how demand really must be dropping like a rock for oil to continue to slide like this.

    Dow Jones, Nasdaq, S&P 500, stock market data - CNNMoney.com

    I love cheap gas, for personal reasons. Imagine how much worse things might be with the economy if oil had stayed high instead of letting the market control the price and drop like it has. Everything would be more expensive, in a market with fewer and fewer people being able to afford goods. That wouldn't be pretty.

    However, this definitely doesn't bode well for alternative energy projects. I'm guessing funding will be tight until the next fuel price spike. Our only hope is that the last spike opened everyone's eyes, and alternative energy research continues to grow.
     
  2. Thornhill

    Thornhill Member

    Mar 14, 2008
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    ...but gas prices are the same as they were when oil jumped up to $50 last week. I'm sure that doesn't have anything to do with the holiday travel coming up.
     
  3. dosry5

    dosry5 Well-Known Member

    Nov 28, 2006
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    I wonder what Coach Chizik is paying for gas in Auburn?
     
  4. cstrunk

    cstrunk Well-Known Member

    Mar 21, 2006
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    Tyler, TX
    Gas was $1.55 in Ames a week ago, then jumped to $1.60, then $1.70 the day after the first increase. I'm sure it has everything to do with a short-term demand jump for gasoline for the holiday's (and students leaving town, needing to fill up... :skeptical:). With the price of oil dropping like this, I foresee gas to drop after New Year's.
     
  5. Scott34

    Scott34 Well-Known Member

    Mar 16, 2007
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    Man it would be sweet if we seen gas under a $1.25, hell even $1. I never in my mind thought that we would ever see gas below $!.50 again. But then again I never thought the economy would be at the crappy stage its at now either.
     
  6. Bubbahotep

    Bubbahotep Well-Known Member

    Jul 23, 2008
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    Des Moines
    I'm sure Jacobs pumps his gas, doesn't want his new wonderboy stressed.
     
  7. brianhos

    brianhos Moderator
    Staff Member Bookie

    Jun 1, 2006
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    You all just wait till carbon taxes make that gas a lot more expensive.
     
  8. CyCloned

    CyCloned Well-Known Member

    Oct 18, 2006
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    Ya, the price of gas went up 25 cents in Cedar Rapids this week, while oil dropped to a level where gas should be under a buck. I like the low prices, but I still feel like someone is putting it to us.
     
  9. Scott34

    Scott34 Well-Known Member

    Mar 16, 2007
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    It's still hard to believe that gas is $2 lower then it was 6-8 months ago.
     
  10. Shinyhappyclone

    Shinyhappyclone Active Member

    Aug 25, 2007
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    It is hard to not suspect some shenanigans with the timing of the "speculation" that drove prices high and the US Presidential Election. Despite all the posturing over issues and needs, 60% of soccer moms and golfing dads probably vote based upon the warm fuzzy or slight distress they feel at the gas pump. It is bizarre.
     
  11. cytech

    cytech Well-Known Member

    Apr 10, 2006
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    seeing as I got a silverado in may when gas was almost $4 per gallon. I am loving it. Specially with the big discounts on the vehicle.
     

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