Gas Prices

[RWilson2526]

So I've always been fascinated by the fluctuations in gas prices. I know the underlying principal that drives prices is supply and demand but its not always easy to see that when it really seems that it is just the mere THOUGHT of a lack of (or in today's case an abundance) of supply that drives traders to either buy or sell oil which is what moves the price of a barrel of oil.

I read once that trading oil as a commodity was a necessity in that if there was a perception of a shortage looming from war or whatever it would drive the price up, reduce the demand and when the actual shortage did happen the swings wouldn't be so severe. Of course when the shortage doesn't actually happen we just paid 10% more for gas with no real reason. Necessary evil?

So anyway, we the consumers can be nothing but happy paying half as much for gas today then we were mere months ago.....but now of course the talk starts about doing overall damage to the economy by hurting the oil / fracking industry and lessening our chances of oil independence.

Granted if you are an oil driller in North Dakota right now you have to be worried about your job as from what I read they can still make money getting oil out of existing wells for the time being but wont have the money in it to start drilling new wells. Apparently fracking wells also dont have the lifespan of typical wells either.

But at the same time, in 2013 the US consumed just north of 134 billion gallons of gasoline. at $3.50 a gallon thats $469 billion. Now at gas approaching half of that the US consumers are looking to save 200 billion +. That money is not going to disappear from the economy, its going to get spent some where else. It would seem to me the money will just get redistributed from the energy sector to other sectors.

I guess the long and short of what I am asking is what your guys feelings are.

Either

A: F*** the oil industry, I want as much money in my pocket for other stuff.

B: I'd be willing to pay more for gas that allows us to continue domestic production and advance renewable technologies.

I'm thinking A at this point.

[bradford]

F-ing A!

Love the media/news/propaganda machine brainwashing us about how BAD we're hurting the economy with the low gas prices. Douchebags!

[Destroyer]

Well, from where I sit I love the lower priced gas. Went to Costco yesterday and paid $1.69 for regular.

But I know it's not going to last. Long term higher interest rate loans to the drillers will be coming due in the coming years, and without sufficient capital a lot of them will go under. The Arabs are trying with all their might to flood the market to drive them (the fracking drillers) out of business so they can raise their prices again. (At which time they (OPEC) will raise the prices and start squeezing us again like they have been doing for the past 40+ years) Don't forget, that Arab oil comes out of the ground for $40 a barrel....far less than what the same barrel of oil costs from a fracking well.

Also, lets not forget that under the present administration the price rose from about $1.50 a gallon to the $3.75 it was at before this present oil glut. As long as the government (through the EPA) continues to hamper drilling in this Country we're going to eventually go back to those prices.

And lastly, they (Congress and the Senate) are considering a bill to raise the tax on a gallon of gas by $.15 a gallon. The slimeballs think that they should get some additional money because we can afford it cause we're paying less.

So for all the above reasons, and several more that I just don't feel like typing out, I'm inclined to go with the "A" choice. Gimmie as much of that low cost gas as you can...and F**k anyone that says we're hurting the economy. The REAL people that are hurting the economy are the ones that raised the price in the first place.

[smokeonthewater]

I'm an oilfield worker.... Hoping to go to work in a couple weeks... Gonna be grossing 30,000 lbs w truck camper and jeep and going 1000 miles one way..... I don't see gas prices affecting my career yet at least and will welcome saving $400 on the trip to Tx

I DEFINITELY don't say F the oil industry, I say F obummer (blocking the keystone), F OPEC, and F oil speculation.... Also F the EPA for the retarded emission standards that require x gallons of fuel be burned per x amount of emissions.... There are European engines we can't have here because while they put out 10% less emissions they won't pass our standards because they use 50% less fuel!!!!!!

Many of them make much more hp than our versions too!

[ssiredfish]

Well this is the first time in months my truck has seen more than just $30 in gas every fillup. I dont have far to drive ever, thats island life for you....My truck just turned 10yo this year and I havent hit 90K yet....I guess what Im gettin at is that the price went down so Im actually buying more and puttin about $50 in each time I stop and didnt flinch once for those longer huntin destination trips this winter so my fillups have probably stayed close to the same.

I have been spending a little more than usual because of the savings so yea I think it does get redistributed back into my local economy. Doesnt hurt my feelins at all that the oil/gas guys arent makin as much off the consumer right now. Ive had trucks for the last 10 years so theyve made a mint off me and the fact that they might lose billions off of it( which is the equivalent of like $10 to us) doesnt leave me remorseful in the least bit.....

[Kracker Jack]

Dude the heck with vehicle money savings! What about us offshore/deep dropping/ wreck fishing guys!!! Wooo hooo!! Makes for some cheap offshore trips!