Oil falls as gas prices hit 3-year low (elderly, children, foreign despots most affected)

AP on Yahoo ^ | 12/2/08 | Mark Williams - ap

[Gaffer]

And, all the ‘hoopty’ owners rejoice.....they can now drive their hoopty to the welfare office instead of taking the bus.

[NormsRevenge]

GasBuddy.com
http://gasbuddy.com/

[trumandogz]

I know people to not understand the implications of falling oil prices but this is bad news.

[misterrob]

At some point people should start to consider hedging their gas prices. You can put $2,500 into a gas ETF that is tied to prices. If gas prices double then so doesn’t your investment and you can take the profits and pay the difference between the $1.50 of today and the increase that will happen.

[GreyFriar]

$1.61 in Staunton, VA on Sunday

[KarlInOhio]

After a Thanksgiving weekend jump to $1.799, many prices are back down to $1.659 on my drive to work. A few stations are down to $1.399 according to a daytongasprices.com, but I need to fill up some cans and they are too far away to drive with cans in the trunk.

[Sacajaweau]

Is this supposed to be a disaster or something? It means I can spend more on food and "stuff"...GOOD for the economy, yes??

Everything we the "working" people do seems to be "wrong".

We drive less "as told"...they complain the tourist industry and consumer sales are down.

We drive "more" and we're polluting monsters.

We eat on Thanksgiving and we're gonna die of "fat". We eat vegies and we risk "bacteria".

JUST LEAVE US ALONE. WE KNOW YOU!! YOU WANT OUR MONEY VIA TAXES....ANYWAY YOU CAN GET IT.

[utherdoul]

While I agree with you in principle for the short term this is a very good thing. High gas prices coupled with the recession we’re in would be a double blow that we couldn’t easily absorb.

Of course this does make developing new oil sources much less profitable but we’ll have to cross that bridge when we come to it.

[P8riot]

Heh, heh, heh.....$1.49 in Richmond today.

[RobRoy]

I consider it a bubble bursting. That is always good news. It may be followed by pain, but that will pass.

[RobRoy]

How about this?
http://cc.pubco.net/www.valcent.net/i/misc/Vertigro/index.html

I mean, he IS wearing a white lab coat and everything!

[trumandogz]

Low oil prices are a result of a world economic downturn and low oil prices mean that there will not be an expansion of domestic E&P.

Drill Here, Drill Now is Dead.

[Nathan Zachary]

Oh no! Doom! This means of course that there will be yet another meeting of greedy OPEC rag heads to discuss how they can raise the price of oil, Allah permitting... Except, some smaller producers can't cut oil production any further...

What to do, what to do, cut back on private Micheal Jackson shows in the palace I suppose...

And what about poor little Chavez? Isn't $45 a barrel somewhere near the point where it becomes cheaper to leave that glue he calls oil in the ground? What's a greedy little commie dictator to do...

Ditto Mr. Putine and his greedy Russian mafia pals...

[Revolting cat!]

Bush’s fault!

[NormsRevenge]

I hear ya,, CATCH-22 deja vu, etc.

What’s the old saying ‘a decent wage for a day’s work?’.

Wait until gas taxes are hiked because the fuel cost is now so low, and then watch what happens when the fuel costs head up again.

[trumandogz]

Low oil prices are a result of a world economic downturn and low oil prices mean that there will not be an expansion of domestic E&P.

Drill Here, Drill Now is Dead.

[trumandogz]

Wait until gas taxes are hiked because the fuel cost is now so low, and then watch what happens when the fuel costs head up again.

I am sure that is in the Dem PlayBook.

[RobRoy]

>>Drill Here, Drill Now is Dead.<<

I disagree. It should be modified to “Drill here, Drill now so we aren’t caught with our pants down next time.”

[RobRoy]

>>Drill Here, Drill Now is Dead.<<

On the other hand, “Drill here, Drill now” may be partly (or largely) responsible for this.