Holy fuck, it feels like 2003 or some shit. It is weird to even see that price on the signs.
Announcement
Collapse
Gas is $1.97 a gal here!
Collapse
X
-
It's that whole thing about us being forced to be more conservative with our travels. Reports done off of consumer gas credit card purchases have show that despite the lowering gas prices people are still traveling significantly less than last year.
Comment
-
Its not going to stay down, the cartel that is OPEC will do anything to pump up price again. They are cutting production. What those idiots don't understand is that demand is falling off the ledge like they have no idea due to the recession that we have been in for more than 2 quarters that people are just starting to admit is happening. Don't get used to this in the long run, but enjoy it for the next year or so.
Comment
-
That same report did talk about a poll, how people don't trust the gas prices to stay down if they started to use a little more. As in it wouldn't just jump a little it would jump a lot. I think most people realize that we do have some control over it if we all just make more conscious decisions. The amount of time that will last is probably small.
Comment
-
Boy, I'm not trying to flame you or anything, but do you have a positive outlook about anything? Do you do your research? If you did, you would know that most of OUR gas comes from CANADA.Originally posted by NewbieChris View PostIts not going to stay down, the cartel that is OPEC will do anything to pump up price again. They are cutting production. What those idiots don't understand is that demand is falling off the ledge like they have no idea due to the recession that we have been in for more than 2 quarters that people are just starting to admit is happening. Don't get used to this in the long run, but enjoy it for the next year or so.
Yes, certain members of OPEC (Chavez & Ahmedinejhad) are lobbying for other countries to join in halting their consumption as well to drive up the price worldwide. Quite frankly- it matters very little what they try and do. People's mind frame has already changed. Even if gas goes up another $15 per barrel, it's not going to increase the price at the pump that much because guess what again- CONSUMPTION IS DOWN WORLDWIDE. This recession is a worldwide problem. Therefore, OPEC isn't going to be able to convince other oil exporters to drive prices up because it has the potential to hurt their own economies as well.
The reason gas prices go up or down is based on FUTURES, and FUTURES alone. Investors buy or sell oil based on how much will be consumed in the future. Right now, there is no end in sight for this recessions. So, gas prices will continue to stay low. While this may not last forever, the habits of Americans are forever changed; which should negate any major spike like we saw this past summer.Last edited by redsquirrel; 11-12-08, 05:15 PM.
Comment
-
that pretty much sums it up :)Originally posted by redsquirrel View PostBoy, I'm not trying to flame you or anything, but do you have a positive outlook about anything? Do you do your research? If you did, you would know that most of OUR gas comes from CANADA.
Yes, certain members of OPEC (Chavez & Ahmedinejhad) are lobbying for other countries to join in halting their consumption as well to drive up the price worldwide. Quite frankly- it matters very little what they try and do. People's mind frame has already changed. Even if gas goes up another $15 per barrel, it's not going to increase the price at the pump that much because guess what again- CONSUMPTION IS DOWN WORLDWIDE. This recession is a worldwide problem. Therefore, OPEC isn't going to be able to convince other oil exporters to drive prices up because it has the potential to hurt their own economies as well.
The reason gas prices go up or down is based on FUTURES, and FUTURES alone. Investors buy or sell oil based on how much will be consumed in the future. Right now, there is no end in sight for this recessions. So, gas prices will continue to stay low. While this may not last forever, the habits of Americans are forever changed; which should negate any major spike like we saw this past summer.
Comment

Comment