but... but... peak oil...we’re going to run out any day... we’re all dooooooomed.
Remember those peak oil idiots from the late 2000’s
last time gas was this cheap was GWB’s 1st term.
That is $.99 per gallon territory.
“Gas is never going under $2 again! Those days are gone.” - Barack Hussein Obama, mmm mmm mmm
Saudi Arabia? Did Russia quit flooding the market too?
Me: Hows the awl bidness out there.
Him: Hear all that noise in the background?
Me: No,can't hear a thing.
Him: Exactly.
Last week, my daughter and I drove her car from the east coast back to Colorado as her classes are all online for now. On one of our gas breaks in Kansas, I was getting something to eat and mentioned to the lady how nice it was to see low gas prices. She made mention that this was not good for her brother as he is in the oil business here and that they were laying people off left and right as it wasn’t profitable for them to produce at the moment. Didn’t know what to say after that.
How can I lock in a lifetime supply at this price?
A lot unemployed oil workers now it seems
Here’s a little trick I’ve employed for DECADES. It’s called ‘Dollar Cost Averaging’ and it applies to stock market investing and ‘investing’ in gasoline purchases.
I always fill up on a Thursday. (Pick any day of the week and stick with it!) And use the same gas station each week. If I don’t need gas on a particular Thursday, I won’t fill up again until the following Thursday.
By ALWAYS buying gasoline on the same day of the week, I am ‘averaging’ the cost per gallon over time.
So, I never worry about the price, and I know I’m always getting the best deal in the long run.
YMMV. This works best if you commute the same distance every week for a job. It probably wouldn’t make any sense for a long-haul trucker, etc.
And now, since we’re all stuck at home, the gasoline in our cars will probably be unusable before we’re released from our cages! ;)
(2020: In with a virus, out with our Constitutional rights!)
The Saudis know how to deal with the Russians.
There was never a reason for oil to be priced at $60+ a barrel except OPEC control and greed.
When Russia got in the game, and the USA became energy independent, the game changed and the ragheads are going to have to start learning to drink oil.
If you think it's bad now, the chi-coms have just hit the mother lode in the South China Sea and when they become proficient at oil production and refinement, they will bury the sand dwellers.
The mid-east will become the burial ground for allah followers, but it is easy to dig graves in the sand.
Oh look.... It is time to raise state taxes, right Northam voters?
Idiots.
Remember Jimmuh Cahtah’s gas lines, and $5.00 a gallon gas (with purchase restrictions)?
Adjusted for inflation, that is 13.91 in 2002 dollars.
The problem with the virus is it is keeping people from driving, so the gas station tanks are full of expensive gas from two or three weeks ago. The pump prices can’t drop until the new cheap gas is delivered and pulling down the local prices.
Low oil prices are great for consumers.
Low oil prices lead to layoffs in the oil business.
Seen it over and over since the mid 70’s.
In the oil fields of N.W. N.M., oil is down from $80 to $20 a barrel and gas prices are down .20 a gallon to $2.25.