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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: Mr. K

My word, reading that and thinking I remember those prices ... I’m actually getting OLD!


61 posted on 04/20/2020 7:08:26 AM PDT by Spacetrucker (George Washington didn't use his freedom of speech to defeat the British - HE SHOT THEM .. WITH GUNS)
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To: Jewbacca

But we are or were diversified. Is the price of nat gas affected too?


62 posted on 04/20/2020 7:11:51 AM PDT by dhs12345
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To: hapnHal

Year and years ago while riding in the car with my dad he suddenly stopped. “Look son’ he said, “you will never see gas cheaper in your life”. “NEVER FORGET THIS SIGHT”..It was .19 cents a gallon. However think what 2 Mercury dimes might be worth today. Silver money. That puts things in perspective.


63 posted on 04/20/2020 7:12:19 AM PDT by Howe_D_Dewty
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To: Texas resident

Western Canadian crude is bringing $.86/bbl.


64 posted on 04/20/2020 7:12:41 AM PDT by Eric in the Ozarks (Baseball players, gangsters and musicians are remembered. But journalists are forgotten.)
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To: Howe_D_Dewty

I remember driving all over town to save 2 cents. We ended up pay 43 cents per gallon.


65 posted on 04/20/2020 7:14:24 AM PDT by dhs12345
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To: Jewbacca

Stop producing until the price rebounds.

I would not worry about the oil ‘spoiling’ if it is left in the ground a bit longer.

;-)


66 posted on 04/20/2020 7:15:04 AM PDT by BwanaNdege ( Experience is the best teacher, but if you can accept it 2nd hand, the tuition is less!)
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To: hapnHal

.95 gallon here in Wisconsin two days ago.

Premium no ethanol gas was at 1.74 gallon


67 posted on 04/20/2020 7:19:57 AM PDT by BigpapaBo (If it don't kill you it'll make you _________!)
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To: BwanaNdege

At some point they’ll have to slow production or stop as
there will be no storage facilities for the liquid.


68 posted on 04/20/2020 7:20:12 AM PDT by deport
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To: dhs12345

Your comment doesn’t make sense. What does diversification have to do with the net loss?

The USA is the largest producer of oil. It is a net exporter. From a pure economic basis alone, cheap oil is a net loss to the USA.

This, of course, ignores the strategic importance of the USA being energy independent—Trump can ignore the mullahs or bomb them, and they don’t have the weapon of an oil embargo. They have no power.

Much the same with Russia.

China, the largest importer of oil, however can fuel its economy cheaply. It even imports natural gas (which yes is almost free).

The end result of letting this go on will be dependence on the mullahs. Jimmy Carter malaise times.


69 posted on 04/20/2020 7:20:16 AM PDT by Jewbacca (The residents of Iroquois territory may not determine whether Jews may live in Jerusalem)
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To: davetex

I suspect your looking at Brent.

Brent is 26.75

WTI is 11.22


70 posted on 04/20/2020 7:20:30 AM PDT by Dusty Road (")
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To: dynoman
NJ used to have among the cheapest gas in the USA. We are among the most expensive in almost everything else (thanks democrats) but at least we had cheap gas. Then RINO Governor Chris Christie put a massive gas tax in place as his going away gift to us. So now we don'e eve have that.

I really, really dislike Chris Christie for many reasons. But this is one that will stick with me for ... well for as long as I live in NJ. Which, if my wife has anything to say about it will be forever :-(

71 posted on 04/20/2020 7:20:57 AM PDT by pepsi_junkie (Often wrong, but never in doubt!)
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To: BwanaNdege

Difficult to do. The Texas government is considering proration orders, which are partial shut downs.

The big oil, which is largely not domestic, opposes this.


72 posted on 04/20/2020 7:22:29 AM PDT by Jewbacca (The residents of Iroquois territory may not determine whether Jews may live in Jerusalem)
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To: Jewbacca
Which is why we need an emergency temporary $25.00/bbl tariff on IMPORTED crude oil now!!!
73 posted on 04/20/2020 7:23:04 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: woodbutcher1963

We have 39 oil producing states.


74 posted on 04/20/2020 7:23:12 AM PDT by Dusty Road (")
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To: Texas resident

We need an import tariff on crude oil now to protect those jobs!!!


75 posted on 04/20/2020 7:24:09 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: Jewbacca

WE NEED A TARIFF ON IMPORTED OIL NOW!!!!


76 posted on 04/20/2020 7:24:59 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: hapnHal
Eliminate and/or reduce gas taxes and we may have .33 cents per gallon gas again.

If we eliminated the high gas taxes Dem Governors would no longer be able to raid highway funds and divert them to social programs and then borrow/tax again with bond issues to fund highway bonds.

77 posted on 04/20/2020 7:25:19 AM PDT by 1Old Pro (#openupstateny)
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To: hapnHal

Left to their own devices, the power brokers will start a shooting war.


78 posted on 04/20/2020 7:25:23 AM PDT by SERE_DOC ( The beauty of the Second Amendment is that it will not be needed until they try to take it. TJ)
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To: cuban leaf

Agreed. Most people don’t realize how much of the world’s economy is funded by the evil banks. They will soon become insolvent.


79 posted on 04/20/2020 7:25:34 AM PDT by crusty old prospector
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To: txrefugee

TARIFF!!!!


80 posted on 04/20/2020 7:25:53 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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