Going down down down down Crude Oil 38.59 -1.47

Kitco ^ | Dec 18 2008 | Kitco

[Grampa Dave]

Up in the wino counties, the price regular popped up 1 to 3 cents per gallon.

My wife commented that it looked like some panic filling up.

Could have been the shoppers running low on gas and refilling for the next round of depression shopping.

[xcamel]

(laughing) - I bet a “Five Star Lunch” on $36/bbl avg by dec 31st

The bet was made Oct 1st.

[mel]

I thougt we were at peak oil :)

[TexConfederate1861]

and my Dodge Ram 1500 gets 21 on the Hwy and 18 in the City.
What is your point? :)

[Aquinasfan]

You have a situation where where each OPEC member has to pump and sell much much more to pay for their hare brained schemes.

I'll cut production. You can trust me. I'm not like the others.

Couldn't happen to a nicer bunch. Now let's go nuclear and finish the job.

[dennisw]

Those Napa exploiters! BTW very lovely there when I visited for a while circa 1984. I remember filling up with Calistoga water right at the source

[Dixie Yooper]

Our oil industry will not invest in drilling when the price is this low. That’s the trouble with a free market, it’s all profit driven.

[Polynikes]

I basically agree with you but expect the bottom in the 20-25 range. Either way the price drop is turning the economic screws on Iran/Venezuela/Russia. Once the bottom comes in I would be looking for mischief on their part to ratchet up the tension and drive price up. Probably will be the contrived test for O that Biden talked about.

[Grampa Dave]

“When one had to think about every little trip costing $5 to $10 in fuel, many of us cut down our trips.”

You are right on target. My wife is conservative but has inherited a high level OCD. When she thinks of something to buy or do, it should be done then or soon.

$50 fill ups on her Lexus changed that behavior.

[unkus]

“What is your point?”

---

I was just commenting. But now that you bring it up, I guess I get better mileage than you. And, the car is paid off.

[Scotswife]

“$50 fill ups on her Lexus changed that behavior.”

That must have been painful therapy.

Here’s hoping the lower prices won’t trigger a relapse.

[TommyDale]

We should sell them bottled water for $10 per gallon.

[Grampa Dave]

I don’t think that you can fill up at the source any more.

At the height of the gas priceds, a gallon of Calistoga water in the local discount liqour store cost less.

Our DIL and older son live in E CC, and she said there was a bump up per gallon this past weekend. Our son deals with many of the gas refineries told her not to fill up.

[bankwalker]

The difference is I’m looking at Feb and you’re looking at Jan. - no delay, real time from my broker’s platform.

[iopscusa]

That’s the trouble with a free market, it’s all profit driven. So what’s the answer, have the gubmint put a big tax on gas consumption? If only we had a Free Market in the oil business then we would have plenty of product at the correct price. Otherwise what we get is distortion by Gubermints and the amoral consequences of gubermint getting it’s hands on more of our $$ to waste or worse.

[RightWhale]

I thougt we were at peak oil :)

Past since 2005.

[dennisw]

You definitely see the crude price better than me
Sinking energy prices are the only positive factor in our economy right now so lets be happy with that. It might even goose the economy a bit

[Grampa Dave]

“Que the AP stories on how low gas prices are bad for America.”

Heck, we have Freepers up to their hips in the oil industry, who will be saying the same thing.

Re your possible AP headlines, you should contact AP and tell them to fire all of their so called reporters and editors because you have the mantra down and will work at a reasonable price.

[varmintman]

If we started drilling right now we could collapse it to ten or twenty bucks a barrel.

[Red_Devil 232]

Explain OCD for me. Thanks.