Posted on 12/30/2014 2:18:11 PM PST by RC one
Sheeesh, I was paying 27 cents going to the beach!
Wow for thou :-)
I filled up for less than $40 today. What a feeling.
That’s hard core...
“It feels good now but this is going to kill the US oil resurgence.”
Not quite. This isn’t 1982 all over again.
“In my little way, I have praying to God to keep and help the US shale oil boom to survive.
Been praying for a “ Eureka “ moment , a real game changer to were Saudi’s are in total free fall and the US shale industry keeps humming and moving along.”
The Sauds are struggling to keep market share right now. They can’t just cut production and raise the price as in the past. This isn’t good for OPEC or the Russians
Could be a 'loss leader', where they'll lose a little on one item to get you in where you spend money on products they will make money on.
Pretty common sales tactic, and few people will only buy the loss leader item. Any more, loss leaders are usually tied to spending a certain amount in the store which pretty much guarantees a profit.
That’s a bit overboard.
The world now knows we can turn that spigot on and off at will.
The US meets OPEC. Phase II
That’s one way of looking at it. Of course, there are other ways of looking at it. For example, one other way of looking at it is that Saudi Arabia and OPEC have a much lower break even point than the US shale industry and can live with $40-$60/barrel prices far longer than we can. Saudi Arabia denies any involvement in this of course but they aren’t doing anything to reduce the supply. Another way of looking at it is that they’re trying to find out what the real break even points are for our various shale oil mining deposits. You know they’re watching closely for signs of pressure. Honestly, OPEC and Russia would love for us to turn off our spigots either by choice or as a result of induced unprofitability.
Well, didn’t Dear Leader tell his massess that “the sea would stop rising, the planet would heal”?
Don’t they have icon devotionals of Dear Leader walking on water and glowing with golden light?
I’m not in the oil industry but have been breathing air for some time. This is the first time in my life that I can see that the US is no longer dependent on foreign oil.
This will shock communism worldwide to its knees IMHO.
It is. Lets just see if it reflects on wholesale prices.
It has been years since many Americans have seen a raise in wages. Obama with his statement on gas NEEDING to be 4 dollars is odd to me. I don’t mean to ramble but as gas prices go down, so goes this trillion dollar economy moving fast.
I paid 1.93 in Newport, TN on my way across I-40.
I haven’t seen that price in some time.
Wow!
I can’t see it getting this low as an average anywhere, though.
In 1974 I had my first car, a 1967 Volkswagen Beetle. Gas cost 50 cents a gallon. With a 10 gallon tank it took $6 to fill ‘er up. I got it right after the first oil embargo so had it roughly Jan-April of 1974.
Me and my buddies could drive for miles in that thing. However, the heat didn’t work, and I was missing a passenger front seat, so I nailed a milk crate there. If I had me, a guy on the milk crate, and two in the back we could get it warm enough for cruising as long as we were constantly wiping the steamed up windows.
Traded it in for a 1967 GTO a guy didn’t want because he couldn’t afford the “high” price of gas anymore!
Whoa! 50 cents time 10 equals $5 bucks, not 6!
I did most of my Christmas shopping with gift cards purchased from Giant Eagle (Western PA) and gained what they call fuel perks. Filled up my sons and my car for $1.85 total (30 gallons of 87 octane). I have projects coming up where I will be purchasing gift cards for Lowes and will get a couple free tanks of gas again.
Kudo’s to you for utilizing the gift card “thing”
and to think in 1974 gas had already shot up 33%.
that is unbelievable. But I believe it.
I was renovating my house a bit this summer and was making a lot of purchases from Lowes and Home Depot and I did most of that with gift cards at 2-4x the normal rate. I was also buying a lot of stuff from Cabelas and Bass Pro so, once again, I purchased most of it with gift cards. It was pretty normal for me to get a dollar off per gallon all summer long. This most recent business of $.85-$1.05 per gallon was pretty incredible though. I had been talking about doing this with some people at work and told them if I managed to get it below a buck a gallon, I would have to take a picture for posterity and share it with the internets because I seriously doubt I will ever see gas prices that low again. That was like a flashback to the days of long ago.
I hope you still have the goat. I have a corvette that I won’t part with but I want a GTO bad. A GTO with a blower is about as cool as it gets.
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