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Oil drops to 11 dollars per barrel!!
Fox TV news | 20 April 20 | hapnHal

Posted on 04/20/2020 6:43:17 AM PDT by hapnHal

Fox morning news is reporting that Oil Prices have dropped to 11 dollars per barrel. What does this mean? Eliminate and/or reduce gas taxes and we may have .33 cents per gallon gas again.


TOPICS: Chit/Chat
KEYWORDS: anotherstupidvanity; cashforclunkers; depression; energy; globalwarminghoax; greennewdeal; hydrocarbons; maga; oil; oilprice; opec
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To: meatloaf

$1.25 in San Antonio today.


21 posted on 04/20/2020 6:51:40 AM PDT by EQAndyBuzz (Operation Chaos is in play. Repeat, Operation Chaos is in play)
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To: hapnHal

Might be a good summer to finally take that RV trip I’ve always wanted to do.


22 posted on 04/20/2020 6:51:49 AM PDT by babble-on
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To: snoringbear

I’ve suffered thru $4 per gallon gas so I’m willing to pay whatever it is now that will keep our drillers employed.......


23 posted on 04/20/2020 6:51:56 AM PDT by Hot Tabasco (How did I survive the Swine flu and the killer flu of 2017-18 without govt. help?)
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To: davetex

It’s a misleading futures market anomaly not the actual spot trading price, correct?


24 posted on 04/20/2020 6:52:41 AM PDT by babble-on
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Buckle up Houston, things are about to get ugly.


25 posted on 04/20/2020 6:53:10 AM PDT by blabs
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To: babble-on

by “it”, I mean the $11 dollar price.


26 posted on 04/20/2020 6:53:25 AM PDT by babble-on
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To: hapnHal

Here in New (Tax Me to Death) Jersey, I paid $1.91 yesterday.

Of course, we’re not going anywhere, so that gas will last a month. By the time I fill up again, it’ll be well into the $2.50 range.

I DESPISE New Jersey. Getting outahere as soon as I can.


27 posted on 04/20/2020 6:53:27 AM PDT by Peter W. Kessler ("NUTS!!!")
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To: hapnHal

It means that after 20 years, the oil and gas industries will no longer be propping up the U S economy. Which industry will take their place?


28 posted on 04/20/2020 6:53:50 AM PDT by txrefugee
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To: Jewbacca

It’s good that Iran is beset by sanctions, COVID-19, low oil prices and now locusts. Maybe with all of the hurdles Iran’s funding of terrorism will decline ... or stop.

I’d like to see Hamas in the market for begging bowls.


29 posted on 04/20/2020 6:54:02 AM PDT by meatloaf
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To: hapnHal
Eliminate and/or reduce gas taxes and we may have .33 cents per gallon gas again.

The temptation will be there to do the opposite and raise gas taxes to $2.00 or more per gallon, and keep fuel prices high.

Were Obama president and democrats were in control of congress and states, gas taxes would have been raised thru the roof.
30 posted on 04/20/2020 6:54:20 AM PDT by adorno
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To: hapnHal

What it means is great losses to our oil producers and mass unemployment.


31 posted on 04/20/2020 6:54:37 AM PDT by Rusty0604 (2020 four more years!)
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To: hapnHal

$2.69 in North Bay of SF


32 posted on 04/20/2020 6:55:07 AM PDT by rey
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To: hapnHal; All

In constant dollars, oil is cheaper than in 1946:

Year 1946

Nominal Price $1.63

Inflation Adjusted Price $21.20


33 posted on 04/20/2020 6:55:15 AM PDT by Bruiser 10 (Will you Boogaloo?)
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To: hapnHal

This is terrible


34 posted on 04/20/2020 6:55:17 AM PDT by youngidiot (The left uses book publishing companies to launder large amounts of cash to other leftist.)
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To: Jewbacca

Ditto that!


35 posted on 04/20/2020 6:55:53 AM PDT by Rusty0604 (2020 four more years!)
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To: blabs

Things already are.
It started a month ago.


36 posted on 04/20/2020 6:55:54 AM PDT by TexasM1A
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To: silverleaf

There is literally nowhere to put any oil in significant amounts.


37 posted on 04/20/2020 6:56:11 AM PDT by Vermont Lt
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To: snoringbear
> While great for those of us not in the oil industry these low prices are killing our domestic oil & gas industry

It’s worse than that, oil is THE strategic commodity, without it we can’t fight a war.

38 posted on 04/20/2020 6:56:27 AM PDT by SecondAmendment (This just proves my latest theory ... LEFTISTS RUIN EVERYTHING)
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To: NohSpinZone

Oil producers... Iran, Russia... however too bad for US states.


39 posted on 04/20/2020 6:56:32 AM PDT by dhs12345
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To: hapnHal

Dayum!!

I remember as a kid I took a gallon plastic jug to get gas for my mini-bike

I asked the attendant (they still had them in those days) to give me 50 cents worth of gas... he looked at the jug and said “I won’t fit 50 cents worth in that”


40 posted on 04/20/2020 6:56:56 AM PDT by Mr. K (No consequence of repealing obamacare is worse than obamacare itself.)
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