HOME/ABOUT  Prayer  SCOTUS  ProLife  BangList  Aliens  StatesRights  ConventionOfStates  WOT  HomosexualAgenda  GlobalWarming  Corruption  Taxes  Congress  Fraud  MediaBias  GovtAbuse  Tyranny  Obama  ObamaCare  Elections  Polls  Debates  Trump  Carson  Cruz  Bush  OPSEC  Benghazi  InfoSec  BigBrother  IRS  Scandals  TalkRadio  TeaParty  FreeperBookClub  HTMLSandbox  FReeperEd  FReepathon  CopyrightList  Copyright/DMCA Notice 

Please keep those donations coming in, folks. Our 1st quarter FReepathon is off to a great start and we have a chance of getting 'er done early! Thank you all very much!!

Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Free Republic 1st Quarter Fundraising Target: $88,000 Receipts & Pledges to-date: $42,555
48%  
Woo hoo!! And the first 48% is in!! Thank you all very much!! God bless.

Keyword: gasprices

Brevity: Headers | « Text »
  • Low gas prices signal economic downturn elsewhere

    02/08/2016 10:41:41 PM PST · by george76 · 63 replies
    WLS-TV ^ | February 08, 2016 | Laura Thoren
    Gas prices in Chicago are still falling, but the price at the pump is having a negative impact on the economy. ... as the cost to fill up your tank goes down, could this also be a sign -- the economy is tanking? Commodities trader Scott Shellady thinks so. "It's bad for everybody. We are going to lose one-fifth of the jobs we created in 2008," said Shellady. And he doesn't expect a market rebound anytime soon. So if you were hoping to cash in your 401K or IRA and retire in the next year, Shellady says, rethink your plans....
  • Oil Sold for -$0.50 per Barrel. A Negative Price!

    01/18/2016 3:54:46 PM PST · by bananaman22 · 18 replies
    Oilprice.com ^ | 18-01-2016 | northdakoterrrr
    The oil markets are on edge with oil sinking into the $20s per barrel. And last week we reported on one place where oil is already trading in the single-digits. Canada’s bitumen is selling for just $8 per barrel. But even that rock bottom price is higher than what one oil seller earned for a shipment recently. In a bizarre turn of events, Bloomberg reported that Flint Hill Resources, a refining unit owned by the Koch brothers, said that they would purchase sour crude from North Dakota for $-0.50 per barrel. That’s right: a negative price. Oil has become so...
  • Gas Wars: A Gallon Is Just 46 Cents Here

    01/18/2016 10:50:44 AM PST · by blam · 39 replies
    CNBC - REUTERS ^ | 1-18-2016 | Katie Little | Steve Kopack
    CNBCJanuary 18, 2016 While gas prices are low nationwide, some stations are slashing the fuel's price to rock-bottom levels to the tune of less than 50 cents a gallon. The drastic price cuts are part of a gas price war at three Houghton Lake, Mich., stations. During the last three days, the prices dropped below a buck per gallon, falling as low as 46 cents at Sunrise Marathon. Meanwhile, the Beacon & Bridge gas station was as low as 47 cents, said employees of each station in interviews with CNBC.(snip)
  • Negative Oil Prices Arrive: Koch Brothers' Refinery "Pays" -$0.50 For North Dakota Crude

    01/18/2016 10:55:19 AM PST · by Freelance Warrior · 34 replies
    ZeroHedge ^ | 01/18/2016 | Tyler Durden
    The Koch brothers are actually charging $0.50/bbl to take low grade oil at their Flint Hills Resources refining arm./ North Dakota Sour is a high-sulfur grade of crude and "is a small portion of the state's production, with less than 15,000 barrels a day coming out of the ground," Bloomberg notes, citing John Auers, executive vice president at Turner Mason & Co. in Dallas.
  • Gas Price Hits 47 Cents a Gallon in Michigan After Price War

    01/18/2016 11:00:03 AM PST · by Citizen Zed · 24 replies
    abc news ^ | 1-18-2016 | EMILY SHAPIRO
    The price of gas hit a stunning low -- just 47 cents per gallon -- in Michigan on Sunday. Michigan was the first state to have gas under $1 in likely over a decade, Patrick DeHaan, senior petroleum analyst at GasBuddy.com, told ABC News today. A gas station in Houghton Lake, Michigan, hit the 47 cents mark after a price war between three stations in the town, DeHaan said.
  • Gas at 85 cents a gallon in Houghton Lake MI...

    01/17/2016 2:39:03 PM PST · by Jhadur · 63 replies
    I live a half hour away and it's $1.77. Just got word from a friend. Check it with Gas Buddy.
  • Obamacare Is Sucking Up To 10% Of Americans' Incomes

    12/28/2015 8:12:15 AM PST · by Lorianne · 29 replies
    Zero Hedge ^ | 28 December 2015 | Tyler Durden
    The latest dilemma facing economists is why "unequivocally good" low oil prices haven't sparked excuberant consumer spending across America. We have discussed the simple (though awkward for the establishment) answer many times - soaring costs for 'shelter' and healthcare have hoovered up every penny saved (and more); and now, a new study proves it- exposing the reality that many Obamacare customers pay more than 10 percent of their incomes toward coverage (and some paying considerably more). The shocking findings show that, as CNBC summarizes, One in 10 Obamacare customers who earn between just two and five times the federal poverty...
  • LNG Glut Worse Than Oil

    12/14/2015 1:55:02 PM PST · by bananaman22 · 1 replies
    Oilprice.com ^ | 14-12-2015 | LNG
    The glut in oil is expected to continue for the next year or so before balancing in late 2016, but the pain for liquefied natural gas (LNG) could be just beginning. Building LNG export terminals is a long-term proposition. It can take years to develop a greenfield project, bringing a lump of new capacity online long after the project was initially planned, exposing developers to the possibility that market conditions could change in the interim. It is not unlike a conventional oil project, such as an offshore well, which also can take years (as opposed to a much shorter lead...
  • Gas prices down for 25 straight days

    12/01/2015 9:37:21 AM PST · by Responsibility2nd · 21 replies
    UPI ^ | 12/01/2015 | By Daniel J. Graeber
    WASHINGTON, Dec. 1 (UPI) -- For 25 days in a row, U.S. drivers have seen the retail price for gasoline fall and that should be the prevailing trend through year's end, AAA reports. The motor club reports a national average retail price for a gallon of regular unleaded gasoline at $2.04, a fraction of a cent less than Monday and 15 cents, or 6.7 percent, less than one month ago. In a weekly report on the retail sector, AAA said the end to an unusually busy season of refinery maintenance, largely in the Great Lakes states, and slumping demand are...
  • I'm Thankful for Fracking

    11/25/2015 4:08:17 PM PST · by Kaslin · 15 replies
    Townhall.com ^ | November 25, 2015 | Isaac Orr
    Thanksgiving is nearly upon us, and many of us will spend time with our families eating too much food and strategically waiting for couch spots to open up so we can sneak in a quick catnap when our unsuspecting relatives abandon their posts for another slice of pie. It's a time when we are thankful for the friends, family, and food. We should also be thankful for fracking. Although many people may not know it, fracking has lowered the cost of energy and other goods and services, makes America more energy-independent, and it is done in an environmentally responsible way....
  • The Surprising Disappearance of Inflation

    10/22/2015 8:43:19 AM PDT · by Kaslin · 99 replies
    Townhall.com ^ | October 22, 2015 | Steve Chapman
    In a world in which the Cold War is a fading memory, North Korea and Cuba endure as museums of communism, so no one will forget how criminally insane it always was. In a world haunted by the specter of persistently falling prices, some countries are creating severe inflation, so we can be grateful for its virtual disappearance. One of the governments providing this public service is that of Venezuela, where the currency has lost so much value that even robbers reject it. A recent carjacking victim told The New York Times his armed captors had no interest in his...
  • Crude oil is getting smoked (WTI bouncing below $43!)

    08/11/2015 10:30:17 AM PDT · by tcrlaf · 42 replies
    Business Insider ^ | 8-11-2015 | Akin Oyedele
    There goes crude oil again. On Tuesday morning, West Texas Intermediate crude futures in New York fell 4% to as low as $43.03 per barrel. Brent crude, the international benchmark, was also lower, near $50 per barrel, after on Monday having its biggest one-day jump in a month. We got OPEC's latest monthly production numbers Tuesday morning, and they showed that production surged to a three-year high in July. The 12-member oil cartel has overshot its production target for at least a year in a bid to maintain its market share. After what seemed like a recovery in prices around...
  • $2 gas will be back after Iran nuclear deal

    07/31/2015 10:32:58 PM PDT · by WilliamIII · 52 replies
    CNN Money ^ | July 14 2015 | Chris Isidore
    U.S. drivers can look forward to $2 gas later this year, thanks in part to the Iran nuclear deal announced Tuesday. Gas may only dip a few cents when the Iranian oil first starts to flow again, but by September drivers could see big savings. "Once we get past Labor Day, we should see gas falling by 10 to 15 cents a month," said Tom Kloza, chief oil analyst with the Oil Price Information Service. "By December a lot of places are going to see gasoline at $2 or less." Iran hasn't been able to sell oil to the United...
  • Rejoice! Your gas will get a little cheaper once Obama lets Iran build a bomb

    07/13/2015 12:21:46 PM PDT · by Sean_Anthony · 4 replies
    Canada Free Press ^ | 07/13/15 | Dan Calabrese
    It's the little things that matter. What can you do to top a deal in which socialists bail out even worse socialists, which we got this morning from the Greeks and the masters of the Eurozone? How about a deal in which a group of Islamic fanatics get the go-ahead to build a bomb from a guy who is either the most naive fool ever to grace the world stage or a complete Muslim sympathizer? HTML5 video is not supported! Maybe you can be both, come to think of it. But dont despair! While the Iranians are building their bomb,...
  • SoCal Gas Prices Rise Sharply

    07/11/2015 7:50:01 AM PDT · by Signalman · 6 replies
    nbclosangeles ^ | 7/11/2015 | staff
    The average price of a gallon of self-serve regular gasoline in Los Angeles County recorded its largest daily increase since May 1 Friday, rising 11.1 cents to $3.656. The Orange County average price recorded its largest daily increase since Feb. 27, rising 12.8 cents to $3.625, according to figures from the AAA and Oil Price Information Service. The average price in Los Angeles County had dropped 48 of the previous 52 days. It is 10.3 cents more than one week ago but 6.5 cents less than a month ago and 50.8 cents lower than one year ago. The Orange County...
  • U.S. Rep. Jim Bridenstine and Sen. Ted Cruz: Unleash the American energy renaissance now

    06/14/2015 9:03:55 AM PDT · by Isara · 90 replies
    Tulsa World ^ | Saturday, June 13, 2015 | U.S. REP. JIM BRIDENSTINE & SEN. TED CRUZ
    For decades, entrepreneurs in Oklahoma and Texas have looked to the immense natural resources found beneath our states soil, convinced that with a dream and a little hard work they could revolutionize an industry. These entrepreneurs have characterized the innovative spirit that has made the sister states places of promise for countless Americans. We are proud to represent Oklahoma and Texas, respectively, and together we believe we can unleash the American energy renaissance that is already underway. To do so, we need to scale back the government, restore state and local control, and welcome technological advancement to tap into the...
  • EPA pushes forward with biofuels

    05/31/2015 12:22:28 PM PDT · by Signalman · 14 replies
    WUWT ^ | 5/31/2015 | Eric Worral
    US investment in biofuels are to be expanded under proposals advanced by the US EPA. Under the proposed rule announced Friday, the amount of ethanol in the gasoline supply would increase in coming years, just not as much as set out under federal law. That approach drew criticism from ethanol and farm groups that have pushed to keep high volumes of ethanol in gasoline. Democratic presidential candidate Hillary Rodham Clinton has called for a robust renewable fuels standard while campaigning in Iowa, host of the leadoff presidential caucuses next year. In a bid to ethanol producers, the administration also...
  • Cheaper oil isn't such a benefit for US economy anymore as pullbacks in drilling cause damage

    05/22/2015 10:10:17 AM PDT · by thackney · 84 replies
    AP via Calgary Herald ^ | 05.19.2015 | CHRISTOPHER S. RUGABER
    Full Title: Cheaper oil isn't such a benefit for US economy anymore as pullbacks in drilling cause damage If there was one thing most economists agreed on at the start of the year, it was this: Plunging oil prices would boost the U.S. economy. It hasn't worked out that way. The economy is thought to have shrunk in the January-March quarter and may barely grow for the first half of 2015 thanks in part to sharp cuts in energy drilling. And despite their savings at the gas pump, consumers have slowed rather than increased their spending.... So what did...
  • Summer gasoline prices to be down more than $1 from last summer

    04/08/2015 6:55:11 AM PDT · by thackney · 19 replies
    Energy Information Administration ^ | APRIL 8, 2015 | Energy Information Administration
    U.S. drivers are projected to pay an average of $2.45/gallon (gal) for regular grade gasoline this summer (April through September), according to EIA's Short-Term Energy and Summer Fuels Outlook released yesterday. This year's projected average summer price is down from a $3.59/gal average during summer 2014. The lower retail price this summer reflects a significant drop in world crude oil prices from last summer. As the main input cost in the refining process, crude oil is the major driver of retail gasoline prices, and U.S. gasoline prices tend to follow prices of the international benchmark Brent crude. For summer 2015,...
  • The U.S. oil boom is moving to a level not seen in 45 years

    04/04/2015 3:25:06 PM PDT · by thackney · 23 replies
    Market Watch ^ | Apr 3, 2015 | Myra P. Saefong
    U.S. oil production is on track to reach an annual all-time high by September of this year, according to Rystad Energy. If production does indeed top out, then supply levels may soon hit a peak as well. That, in turn, could lead to shrinking supplies. The oil-and-gas consulting-services firm estimates an average 2015 output of 9.65 million barrels a day will be reached in five months topping the previous peak annual reading of 9.64 million barrels a day in 1970. Coincidentally, the nations crude inventories stand at a record 471.4 million barrels, based on data from U.S. Energy Information...
  • Don't expect oil prices to rebound anytime soon

    04/02/2015 12:15:57 PM PDT · by Perkinsbob54 · 12 replies
    High Country News ^ | 3/8/15 | Jonathan Thompson |
    Its not even 8 a.m. and rush hour is on in northwestern New Mexico. Dozens of big white trucks and water tankers, neon flags flying, head north to the gas patch. Im driving south, through Aztec, and as I pass the retro-orange A&W on the edge of town, I pull up alongside a drilling rig. The things huge, too huge, it seems, to be rolling along the same road as my little Nissan. Yet the strange, rolling infrastructure has been a familiar site around here for decades back in 1948, when a UFO purportedly crashed out on a nearby...
  • Crude falls as Iran deal to include lifting of all oil sanctions

    04/02/2015 11:01:06 AM PDT · by jimbo123 · 5 replies
    Forex Live ^ | 4/2/15 | Adam Button
    WTI crude fell below the earlier lows near $48.50 and down to $48.23 as reports reveal that once the deal is completed (presumably on June 30) all oil and banking sanctions against Iran will be lifted.
  • Gasoline use at lowest rate in three decades

    03/27/2015 8:05:48 AM PDT · by fruser1 · 19 replies
    Average fuel consumption by American drivers is at its lowest level in at least 30 years, says a University of Michigan researcher... "Despite population growth of 8 percent, the absolute amount of fuel consumed by light-duty vehicles decreased by 11 percent during the period 2004the year of maximum consumptionthrough 2013," said Sivak, a research professor at UMTRI and director of the Sustainable Worldwide Transportation research consortium... Sivak said that although economic factors likely contributed to declining rates of vehicle ownership and distance driven, other societal changes such as increased telecommuting, use of public transportation and urbanization of the population, along...
  • Why California? Someone Has to Clean Up the Mess

    03/15/2015 6:16:20 AM PDT · by Kaslin · 2 replies
    Townhall.com ^ | March 15, 2015 | John Ransom
    Brian Smith wrote: Since Ransom was kind enough to respond to me I will respond to him. The support that Obama has given for rebels Libya, Egypt, and Iran was necessary and wise because the conclusion is inevitable (the dictators are falling) and the sad fact is we (The United States and our policies) are largely resposible for putting them there. As far as Iraq as concerned we were also responsible for propping up Saddam Hussien. As the Russians learned in Afghanistan a military victory in the region is meaningless. - Kerry, Obama Seek Regime Change for Syria, Egypt...But Not...
  • Crony Biofuel Politics Wag the Dog

    03/14/2015 9:47:48 AM PDT · by Kaslin · 24 replies
    Townhall.com ^ | March 14, 2015 | Paul Driessen
    Talk about the Norfolk terrier tail wagging the Great Dane. If they are to have any hope of winning their party’s nomination, Republican presidential hopefuls better support ethanol mandates, Hawkeye State politicos told potential candidates at the recent Iowa Agricultural Summit in Des Moines. “Don’t mess with the RFS,” Republican Governor Terry Branstad warned, referring to Renewable Fuel Standards that require refiners to blend increasing amounts of ethanol into gasoline. “It is the Holy Grail, and I will defend it,” said Rep. Steve King, another Iowa Republican. It is vital for reducing carbon dioxide emissions and preventing dangerous climate change...
  • Low Oil Price May Stifle Deepwater Drilling And Oil Sands But Not Fracking

    03/01/2015 8:53:15 AM PST · by thackney · 27 replies
    Forbes ^ | 3/01/2015
    Saudi Arabia and OPEC may have dropped oil prices to stifle production in the U.S. and other competing nations, but they didnt drop it enough to stifle the U.S. oil and gas boom from fracking, a senior expert with McKinsey and Company said in Chicago. If the Saudis think theyre going to put U.S. shale players out of business, theyre probably not, although there will be less drilling, Joe Quoyeser told about 125 people, mostly graduate students, at Northwestern Universitys Kellogg Energy Conference on Wednesday. But there are other elements of oil supply that are needed to balance the market...
  • Even Amidst Low Oil Prices, Staying the Course Will Ultimately Benefit Consumers, Producers

    02/11/2015 5:24:48 PM PST · by Kaslin · 1 replies
    Townhall.com ^ | February 11, 2015 | David Holt
    In less than a decade, the one-time feeble U.S. energy sector has accomplished a record-breaking 180-degree turnaround thanks to advancements in new technologies. In fact, at the current rate, the nation is likely to hit production marks not seen since the 1970s. As such, we now live in a more energy self-sufficient nation, one that is inching closer every day to energy independence. While we utilize roughly 25 percent of the worlds oil on a daily basis, about 40 percent of the petroleum we consume is imported, down from 60 percent not too long ago. Consumer Energy Alliance (CEA) has...
  • Obama on Low Gas Prices: "You're Welcome" (with video!)

    02/06/2015 12:05:19 PM PST · by i88schwartz · 54 replies
    RealClearPolitics ^ | February 6, 2015 | RealClearPolitics
    "We're as free of foreign oil as we've been in 30 years," Obama said. "We've doubled the amount of clean energy that we're producing. A lot of families are saving a lot of money at the gas pump, which is putting some smiles on folks' faces." "You're welcome," Obama said to tepid applause.
  • Defense Against Demagogues

    01/28/2015 1:10:59 PM PST · by Kaslin
    Townhall.com ^ | January 28, 2015 | Walter E. Williams
    When gasoline sold at record prices, Sen. Bernie Sanders, I-Vt., said, "I think it's time to say to these people, 'Stop ripping off the American people.'" When the average price of regular gas was close to $4 a gallon, Sen. Chuck Schumer, D-N.Y., called for Congress to look into breaking up giant oil companies. The claim was that "Wall Street greed (was) fueling high gas prices." Today in some places, gasoline is selling for less than $2 a gallon, less than half of its peak price in 2008. The idiotic explanation that attributed high oil prices to greed might now...
  • World price of oil -- where is OPEC now?

    01/27/2015 7:04:25 AM PST · by rktman · 53 replies
    americanthinker.com ^ | 1/27/2015 | Fred Singer
    The world price of crude oil, which has been around 100 dollars a barrel for the past 6 years, has suddenly collapsed and is now tending below 50 dollars. Many are trying to understand this rapid decrease and have proposed various explanations. Of course, the ready explanation is simply in terms of supply and demand; but this just begs the question. The supply of oil has increased sharply in recent months mainly because of the prolific production of shale oil in the United States, thanks to the technologies of fracking and horizontal drilling. In fact, the US is now...
  • Low Oil Price Brings Layoffs at Energy Firm Baker Hughes (BHI)

    01/21/2015 2:45:39 PM PST · by SeekAndFind
    ABC News ^ | 01/21/2015 | Richard Davies
    Falling gasoline prices may be great for consumers, but theyre tough on energy firms and their workers. The latest layoffs announcement comes from the oilfield services firm Baker Hughes, which plans to cut 7,000 employees 11 percent of its workforce. Global oil prices have plunged 60 percent since last June, making some drilling operations unprofitable. While market demand ended up being more resilient in the fourth quarter than many had predicted, the recent declines seen in rig counts will clearly affect results in 2015, said company CEO Martin Craighead. Speaking to analysts about the layoffs, he said, This is...
  • Congress Should Pump the Brakes on Gas Tax Hike

    01/16/2015 8:40:50 AM PST · by Kaslin · 6 replies
    Townhall.com ^ | January 16, 2015 | Eric Peterson
    While few Americans were fortunate enough to see a holiday bonus this year, there is one gift that American motorists have been enjoying of late; lower gas prices. Currently sitting at more than a dollar below the average price last year, U.S. drivers are projected to save somewhere between $380 and $750 dollars during 2015 if the prices hold. While wages have remained stubbornly flat for most workers, gas prices have provided a rare glimmer of hope for American workers, who have been struggling with an anemic job market, labor participation rates not seen since the 1970s, and median family...
  • Where will the next price implosion be? Oil has fallen off a cliff, What industry is next?

    01/14/2015 6:37:10 AM PST · by SeekAndFind · 21 replies
    American Thinker ^ | 01/14/2015 | James Longstreet
    We have witnessed the price implosion of oil, and the subsequent decline in gasoline prices. Is this the beginning of a trend, and what industry will admit and be subject to an inability to control its pricing structure? Cable television? The cost of cable television is a broken promise. Originally, for those old enough to remember, the promise of cable television was that though it may involve a charge, something new for television, there would be no commercials. Anyone remember? Now, the cable providers have it both ways. There are commercials, and infomercials, on which they receive money from not...
  • Where to Find the Cheapest Gas in the Country

    01/13/2015 5:34:59 AM PST · by thackney · 51 replies
    ABC News ^ | Jan 13, 2015 | GOOD MORNING AMERICA
    The cheapest gas in the country costs less than a bottle of soda or cup of coffee. A gas station in Tomball, Texas -- Stripes -- is selling a gallon of regular unleaded gas for $1.42 this morning. The price is 62 cents below the national average of $2.14 a gallon, which is among the countrys lowest levels for gas prices in five years. Stations in 45 states are selling gas for under $2 a gallon, according to Gasbuddy.com.
  • Can a rebrand make Republicans raise the gas tax?

    01/13/2015 2:11:14 AM PST · by Tolerance Sucks Rocks · 42 replies
    PRI.org ^ | January 12, 2015 | PRI
    Gas prices are the lowest they've been in five years a welcome relief for many drivers. But now that fuel prices are falling, some lawmakers are talking in a serious way about raising the gas tax Republican lawmakers. The debate is at an early stage, and its fair to say House conservatives will hate the idea. But a few powerful GOP senators are signaling they're open to the idea. Even House Speaker John Boehner, who personally opposes raising the gas tax, hasn't ruled it out. Some Republicans in the Senate are speaking up, says Todd Zwillich, The Takeaway's...
  • Average Gas Prices Drop Below $2.00 per Gallon in Two States

    01/05/2015 6:31:56 AM PST · by Enlightened1 · 41 replies
    (WASHINGTON, December 29, 2014) Average gas prices in two states Missouri ($1.93) and Oklahoma ($1.98) have dropped below $2.00 per gallon for the first time since 2009. The national average has fallen 95 days in a row for a total of $1.06, and prices have plummeted $1.38 (nearly 40 percent) since the start of June. The national average price for regular unleaded gasoline is $2.29 per gallon, and motorists are saving 11 cents per gallon compared to one week ago, 49 cents compared to one month ago and $1.02 per gallon compared to this same date last year....
  • The Ironies of Oil

    01/01/2015 7:50:34 AM PST · by Kaslin · 22 replies
    Townhall.com ^ | December 31, 2014 | Victor Davis Hanson
    Gasoline prices are on the verge of crashing down to below $2 a gallon. The price of oil may dip below $50 a barrel. Even with renewed demand from a global economic resurgence, energy prices continue to fall. The U.S. has suddenly become the world's largest combined producer of oil and natural gas. That fact -- along with a desire to weaken hostile Iran and Russia -- has prompted the oil-rich Gulf sheikdoms to keep pumping oil even as the price falls. In their game of petro-chicken, the desperate sheiks hope that either their poorer enemies will run out of...
  • The reason for lower gas prices: Saudi Arabia and fracking

    12/22/2014 7:21:19 AM PST · by shepardspie33 · 18 replies
    Red Dirt Report ^ | December 22, 2014 | Brian Woodward
    ... While the U.S. does not export crude oil, its increased production has curbed imports, resulting in excess supply. Although the fracking boom has helped to increase supply and steal market share from the Middle East, it is the Saudi response to the increased production from North American shale that has sent the price of oil tumbling. In September 2014, in the face of falling oil prices, Saudi Arabia chose to increase oil production by half a percent. Days later on Oct. 1, they discounted oil exports to leading Asian customers. These actions set off a rapid decline in international...
  • Guess What Happened The Last Time The Price Of Oil Crashed Like This?

    12/20/2014 8:06:02 PM PST · by NKP_Vet · 85 replies
    http://www.prophecynewswatch.com ^ | December 6, 2014 | Michael Snyder
    There has only been one other time in history when the price of oil has crashed by more than 40 dollars in less than 6 months. The last time this happened was during the second half of 2008, and the beginning of that oil price crash preceded the great financial collapse that happened later that year by several months. Well, now it is happening again, but this time the stakes are even higher. When the price of oil falls dramatically, that is a sign that economic activity is slowing down. It can also have a tremendously destabilizing affect on financial...
  • Rapid fall in oil prices may portend global recession

    12/16/2014 4:56:58 AM PST · by thackney · 47 replies
    NY Post ^ | December 14, 2014 | Jonathon M. Trugman
    Cratering crude-oil prices may be a blessing to cash-strapped American consumers, but its a double-edged sword when it comes to the overall economy. The problem for the overall economy is not so much the drop in oil prices as it is the velocity at which oil prices have fallen. The plunge from a peak of just over $100 per barrel in the early summer to todays $58 a massive 42 percent drop in just a few short months, most of which has come in the last 90 days could make anyones head spin. The rapid fall in crude...
  • In These 13 States, Gas Is Selling for Below $2 a Gallon

    12/15/2014 7:56:37 PM PST · by 2ndDivisionVet · 28 replies
    The Daily Signal ^ | December 15, 2014 | Natalie Johnson
    Just two weeks ago a sole gas station in Oklahoma swept headlines for dropping gas prices below $2 a gallon. Today, 13 states have joined that list and the trend is expanding. Gas for less than $1.90 a gallon can be found in at least one station in Oklahoma, Louisiana and Ohio, according to CNN. CNN cites ten additional states Alabama, Arizona, Colorado, Indiana, Mississippi, Missouri, Nebraska, New Mexico, Texas and Virginia that now have gas below $2 a gallon. What were seeing is markets at work, Heritage Foundation economist Nick Loris said. Significant increases in supply and a relatively...
  • Remember When MSM Mocked Michele Bachmann for $2 Gas Pledge?

    12/13/2014 6:01:14 AM PST · by governsleastgovernsbest · 30 replies
    NewsBusters ^ | Mark Finkelstein
    So who's crazy now? In 2011, the MSM mercilessly mocked Michele Bachmann for saying that if she became president, gas prices would fall to under $2/gallon. Typical was Time magazine, which called her prediction "fantasy." Time mocked Bachmann's drill, baby, drill policy, sniffing that if implemented, "prices at the pump might drop a whole 3 cents a gallon." But on CBS This Morning, there was top oil analyst Tom Kloza, saying that by Christmas, gas prices would be in the range of . . . $1.99-2.29 [I saw $2.18 here in Texas yesterday]. So who's crazy now, and where does...
  • Saudi Oil Minister Naimi: Why Should We Cut Production?

    12/10/2014 2:39:09 PM PST · by thackney · 24 replies
    Reuters via Rig Zone ^ | December 10, 2014 | Mitra Taj & Valerie Volcovici
    Saudi Oil Minister Ali al-Naimi on Wednesday shrugged off suggestions that the world's biggest crude exporter might cut production to reverse the deepest price slump in years, saying the kingdom's output had remained steady through last month. Naimi's comments on the sidelines of an annual U.N. climate change conference in Lima, Peru, stuck to the message he laid out at OPEC's meeting two weeks ago: The market would be left to balance itself without the kingdom's intervention. That stance was seen as a shift from longstanding Saudi policy to act as a swing supplier. Oil prices have dropped $13 a...
  • Why Gasoline Prices Are Down -- And How to Keep It That Way

    12/06/2014 12:16:40 PM PST · by Kaslin · 32 replies
    Townhall.com ^ | December 6, 2014 | Ed Feulner
    If youre like most Americans, you havent been questioning the welcome drop in gasoline prices. You just fill er up and feel grateful that youre spending less.But why has this remarkable drop come about? And what can we do to help keep prices lower?Some of it, unfortunately, is beyond our control. Worldwide demand for oil is down now. That always causes the cost of gasoline to drop.But the other side of the equation -- the part that is under our control -- has gone largely unheralded in many media accounts: the boom in U.S. energy production. Simply put, were producing...
  • Gas Tax Campaign Gets Ugly Fast (also Ben Carson and guns)

    12/06/2014 12:35:02 AM PST · by iowamark · 16 replies
    The Iowa Republican ^ | 12/6/2014 | Craig Robinson
    Its pretty clear, there is going to be a major push to raise the states gas tax during the upcoming legislative session. While that should surprise no one, I was shocked to see the over-the-top TV ad that the pro-gas tax crowd is currently using to advance the issue. Thats right, school children are going to die if we dont raise the gas tax. This outrageous ad makes all those negative ads in the U.S. Senate race look like childs play. Talk about jumping the shark. The ad begins with the claim that there are currently 5,000 deficient bridges in...
  • First U.S. gas station drops below $2 a gallon (OKC)

    12/03/2014 6:51:05 PM PST · by DaveMSmith · 47 replies
    An Oncue Express station in Oklahoma City was selling the motor fuel for $1.99 a gallon Wednesday, becoming the first one to drop below $2 in the U.S. since July 30, 2010, Patrick DeHaan, a senior petroleum analyst at GasBuddy Organization Inc., said by email from Chicago. "We knew when we saw crude oil prices drop last week that we'd break the $2 threshold pretty soon, but we didn't know if it would happen in South Carolina, Texas, Missouri or Oklahoma," said DeHaan, senior petroleum analyst for Gasbuddy. "Today's national average, $2.74, now makes the current price we pay a...
  • Putin's Kremlin Losing the Oil Price War -- And That's Good

    12/03/2014 2:03:49 PM PST · by Kaslin · 12 replies
    Townhall.com ^ | December 3, 2014 | Austin Bay
    Free enterprise is proving to be Russian dictator Vladimir Putin's most potent foe. Moscow's February 2014 invasion of Ukraine's Crimean peninsula and its immediate annexation drastically altered international diplomatic calculations. In a year marked by the homicidal rise of the Islamic State and Chinese probes of East Asian maritime borders, Putin's destruction of post-Cold War security arrangements is the most dangerous challenge to global peace. Yet U.S. and Western European attempts to penalize the Kremlin its Crimean theft and blunt its relentless "slow war of moral attrition" in Eastern Ukraine have been erratic. Though France's decision to halt its sale...
  • Newt Gingrich's Lower Gas Price Promise

    February 28, 2012 Newt Gingrich's lower gas price promise 2012 candidate guarantees he can lower gas to $2.50 a gallon and explains how he will do this
  • GOP oil titan: Keystones irrelevant (Harold Hamm)

    11/15/2014 4:11:28 PM PST · by Olog-hai · 40 replies
    Politico ^ | 11/14/14 2:26 PM EST | Updated 11/14/14 8:42 PM EST | Darren Goode
    Republican oil mogul Harold Hamm says Congress is wasting its time debating the Keystone XL pipeline. Its not relevant at all, in my opinion. And here we are making it relevant now? Forget it, the billionaire CEO of Oklahoma-based Continental Resources told Politoco in an interview Friday, just before the House passed a bill aimed at approving the pipeline. [] Hamm said his company, which had planned to use Keystone to ship some of its North Dakota crude, is already using other pipelines for half of its oil. And the percentage is growing. Were supporting other pipelines out there; were...
  • Fill 'Er Up: U.S. Says Gas Prices to Average Below $3 a Gallon in 2015

    11/13/2014 1:36:05 PM PST · by SeekAndFind
    NBC News ^ | 11/13/2014
    Despite losing at least eight seats, and probably nine before all the votes are counted by 2015, Senate Majority Leader Harry Reid (D-NV) has not faced much in the way of a public pushback from his fellow Democrats… until today. Purple state Democrat Sen. Claire McCaskill (D-MO) revealed on Thursday that she will not back Reid in his role as minority leader in the next Congress.The revelation came as a surprise when she was asked by reporters if she would stand by Reid. “I will not,” McCaskill replied.“Yesterday, I met with Harry Reid and told him I would not...