Gas Prices!

[landman873]

Well if you are a landman, you are probably dealing with folks who are vested in oil and gas. That was a banner year for them.

I have a customer in that situation, he and his wife bought each other $70,000 vehicles that year. They were all smiles every time they came. The higher the gas prices, the bigger the smiles. If you are convinced gas is going that high, it might be a good strategy to invest in exxon right now.

I'm not a landman i am a landscape contractor.

 

[farmerbyron]

This is such BS. Oil is a commodity and is traded on a global marketplace. Most of the world's oil is controlled by non-western state owned entities. The western oil companies have no more control of the price of oil than a farmer has on the price of wheat.

Do you know what it takes to get a gallon of gas in your tank. Companies must first spend billions of dollars on research and exploration to find the oil. It then has to be drilled out of the earth, often miles and miles below the surface. Most often in God-forsaken corners of the earth. It must be transported at great cost (big ships and pipeline systems are not cheap) thousands of miles to a refinery - again not cheap to build and operate. Once it has been refined it must be again transported to the consumer, on nearly every street corner for your convenience. All of this, and it is still cheaper than bottled tap water.

This is true but keep in mind that you might drink a half gallon of bottled water a day but you use several gallons of gas each day. It's a matter of consumption.

Commodities, crude included, are determined by speculators in New York but one difference between crude and other commodities is that crude has relatively few players involved in production and they have the cash to buy up futures to move the market one way or the other. So they can move the market in the direction of their own self interest rather than leave it up to the whims individual investors.

 

[j-dubb]

When the price of Oil goes up per barrel, so does what it takes to operate and produce that barrel. Everyone and their dog raise prices on everything. When Oil goes up so does Drilling costs, Pulling Units, Pipe, Services, Tanks, gun barrels, knock outs, fittings, etc, etc. Everyone was making good money with Oil around the $75-$80 range. It has no business going up around $100range and in my opinion it scares me knowing if it goes up that high then the bottom with fall out of it again and there will be alot of people without jobs and alot of people hurting real bad.

 

[1911Sooner]

Its happening.

 

[dennishoddy]

Its happening.View attachment 157514

Holy crap. It's still $1.99 in Ponca unless you go out to the casino and it's $1.70.
I need to build a rolling fuel tank and make a road trip.

 

[ignerntbend]

I told you we needed to drill in the ANWR!

 

[dennishoddy]

I told you we needed to drill in the ANWR!

No reason not to. Have you been there? I have and there is nothing there but frozen ground with some lichens scattered about, none endangered.
The big problem with this cheap oil is that the Saudi's and the Ruski's are having a bidding war, and the crown prince of Saudi decided he wants to ruin the ruski's and as a side note take out the shale drillers and frackers in the US that had made the US a net exporter of energy. The Saudi's still pretty much control OPEC that controls world wide pricing.
Just about every driller is laying down the rigs and the producers are pulling the heads off the pump jacks so they don't have to pay the well head tax until this crap gets settled and comes back where they can make some money to keep their employees paid.
The oil patch is in trouble right now in the US.

 

[SlugSlinger]

Gasoline futures hit .38 per gallon yesterday. Close to the lowest price ever.

Gasoline is sitting at .48 per gallon currently.

Add 18.4 federal tax and 20.0 state tax and we are paying more in tax than the cost of fuel. At least when the price is less than 38.4 .

 

[Judi]

....guess now is a good time to fill a few gas cans and the truck, car, mower, ATV. Never thought I would see gas (again) under a dollar...let under .80 gal.


http://www.oklahomagasprices.com/

 

[SoonerP226]

....guess now is a good time to fill a few gas cans and the truck, car, mower, ATV. Never thought I would see gas (again) under a dollar...let under .80 gal.

It'd be hard to see $0.80/gal at the pump, given delivery fees and $0.384/gal in state ($0.20/gal) and federal ($0.184/gal) taxes. The refiners would almost have to be giving it away to get it that low.

Not that I'd complain about it, mind you.