Posted on 07/31/2015 10:32:58 PM PDT by WilliamIII
U.S. drivers can look forward to $2 gas later this year, thanks in part to the Iran nuclear deal announced Tuesday. Gas may only dip a few cents when the Iranian oil first starts to flow again, but by September drivers could see big savings. "Once we get past Labor Day, we should see gas falling by 10 to 15 cents a month," said Tom Kloza, chief oil analyst with the Oil Price Information Service. "By December a lot of places are going to see gasoline at $2 or less." Iran hasn't been able to sell oil to the United States since 1995. Most major Western countries imposed sanctions within the last five years aimed at curbing Iran's nuclear program. Instead it's been selling to China, India, Turkey and other developing markets.
(Excerpt) Read more at money.cnn.com ...
Gas at the corner station at the top of my street in Cleveland is at $2.10 right now. We have several stations that have been around $2 to $250 for the last several weeks. So yes, we should be at $2 nation wide this year. That is regardless of the Iran deal. Iran already sells its’ oil on the World market. It will have little additional benefit beyond 10% at best.
Iran has little to do with it. It has to do with the catastrophe in China economy that we have not been told about and the massive increase in recoverable oil reserves NOT in the middle east.
Why dont oil companies just give it away or pay you to use it?
That would be more fair wouldnt it?
For everyone who believes this CNN garbage, I’ve got a bridge for sale in Brooklyn. The Obama “media” are a bunch of lying retards like their boss, Obonzo.
And $2 gas will ensure that no western nation, including the US, will do a damn thing until after Iran has fired off their first nuke.
[For 35 days, then the crap hits the fan. (not 35 literal days)]
Help?
That is bad, but he alternative is worse. I prefer that the Saudis use up all their oil and we are left eight remaining reserves as extraction costs rise, instead of the other way around.
I’d sell tickets to that show
Some ? How bout damn near 50% ?
Saudi gas at the pumps is .25 cents a gallon as we speak.
It’s already $1.99 here.
Just long enough for Graham, McConnell and Reid to push through a gas tax increase before prices go back up.
We pay an average of .49 cents per gallon in tax. That means that the actual cost of the gas would need to drop to $1.51. This implies a cost per barrel price that is significantly lower than the current one. Even at the current price many wells are too expensive to run. So, if oil drops that low many producing wells will be shut down thus tightening the supply until the price goes up again. Also, Iran has been selling all the oil it produces to China. Their logic doesn’t wash.
I love these articles predicting the price of (insert commodity here)
You can bet that either the author or his buddies are (long / short) on whatever they are writing about.
* Get rid of Ethanol nationwide.
* One blend nationwide, not the 80 boutique blends we need something that is fungible.
* Stop "Markey" and his malarkey about not selling our heavy oils abroad etc.
* Build the pipeline to Canada
* When we get rid of Obama, open up our public lands for Fracking...
Good....cuz I like food. Now if only steak went down a few bucks.
There will never again be one dollar gas, because the taxes on each gallon are much more than one dollar. The taxes are not variable, they are set amounts. Even when the Big Oil companies are only getting pennies on each gallon, Big Gov is getting dollars on each gallon.
Obama stated he wants gas prices along the lines of Europe. Why would he go on and on about how good a deal this is?
Odds are that it would have dropped about the same w/o the travesty of a deal.
Don’t care if gas is 29 cents a gallon, this deal sucks.
Obama thinks he can buy everybody because he can buy somebodies.
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