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Gas is cheap again! I can buy super!!

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Old 10-25-2008, 06:21 PM   #1
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Gas is cheap again! I can buy super!!

Gas regular today is $2.39 and super it was $2.79, i filled it up with super!!! Awesome!!! But opec wants to cut production again to bring the price up!!! Wtf man!!
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Old 10-25-2008, 06:29 PM   #2
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They cut production by 1.5 million barrels yesterday but oil still went down $3.69/barrel. OPEC can KMA!

Gas is $2.15 in Georgetown SC right now. We will see gas below $1.99, just like I've predicted all year. I'm just curious as to where all the naysayers are now, the ones who kept saying we'd never see $3.00/gallon again. Come out, come out of hiding, I know you're out there!

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Old 10-25-2008, 06:32 PM   #3
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OPEC would have to STOP production to get a rise outta prices.
Simple economics says that the demands has decreased, so to maintain prices supply must be controlled. Cut production and prices go up again.

HOWEVER- The decrease in demand is based in a contracting economy. People have less to spend and therefore go out less and plan trip better. (It's a bit of hold out from gas being so high too...I still find myself mapping out all the errands I have to do to try and be efficient about it) So there is less to go around...Eventually it'll get to a point that will hold static cause no one will have the money to go out-
but for now...Prices might stabilize....but my guess is they'll continue to drop.
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Old 10-25-2008, 06:34 PM   #4
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^Well that's exactly it and that's what I've been saying all along. Prices rise, demand decreases, supply increases, and prices drop. As you say, simple economics. I'm just curious as to why so many folks were out there screaming about the end of the world, the sky falling, place additional analogies here: ____________.
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Old 10-25-2008, 06:39 PM   #6
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Quote:
Originally Posted by WilsonTheDog View Post
^Well that's exactly it and that's what I've been saying all along. Prices rise, demand decreases, supply increases, and prices drop. As you say, simple economics. I'm just curious as to why so many folks were out there screaming about the end of the world, the sky falling, place additional analogies here: ____________.
hell freezing over....donkeys doin the backstroke, hillary becoming president!!!
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Old 10-25-2008, 06:41 PM   #7
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True, but anyone paying attention could see a long way off the economy would go into the crapper. The housing bubble was no different than the dot.com bubble or any other.

I agree, though, because gas prices affect everyone immediately. I mean, I won't need my 401k for many years but I have to buy gas tomorrow.
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Old 10-25-2008, 06:42 PM   #8
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Quote:
Originally Posted by tacomaman06 View Post
hell freezing over....donkeys doin the backstroke, hillary becoming president!!!
LOL! I heard a good, unrelated, one today: Your gene pool needs some chlorine.
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Old 10-25-2008, 07:18 PM   #9
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LOL! I heard a good, unrelated, one today: Your gene pool needs some chlorine.
haha....awesome!!
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Old 10-25-2008, 08:15 PM   #10
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$2.15 in south carlina??? WTF!! i need to leave NJ, but where am I going to find jobs down in the deep south?!
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Old 10-25-2008, 09:19 PM   #11
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I was one who thought high gas prices would be around for awhile. I think the prices will come down a little more, then start their climb back up. If Mr Obama gets elected and does indeed tax the crap the oil companies as he said, they will surely pass those increases on to us customers.
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Old 10-25-2008, 09:20 PM   #12
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Originally Posted by linkfeeney View Post
$2.15 in south carlina??? WTF!! i need to leave NJ, but where am I going to find jobs down in the deep south?!
I hear ya. As you know, I lived the first 29 years of my life in NJ and I found a good job here doing exactly what I did in NJ, working in the insurance industry except this time for a government contractor. Of course, that means I'm screwed twice: once because wages are lower here and another because govt. contractors don't pay well. But, I do OK. There are jobs but the better ones are in the larger cities like Charleston, of course.
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Old 10-25-2008, 09:22 PM   #13
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Originally Posted by steviestyles View Post
I was one who thought high gas prices would be around for awhile. I think the prices will come down a little more, then start their climb back up. If Mr Obama gets elected and does indeed tax the crap the oil companies as he said, they will surely pass those increases on to us customers.
That is a very true statement. I think they'll sink more but then creep up slightly, I agree. It depends on how quickly the economy recovers. Unfortunately, when the economy is good it typically means prices will go up.
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Old 10-25-2008, 09:28 PM   #14
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Well the prices were low under Clinton and the economy was decent at the time. The world demand for oil is a lot higher these days. I think another reason gas shot through the roof in the Summer was definitely China hording oil for the Olympics, plus the greedy speculators anticipating a shortage when we are starting to hear there was no true shortage. I think any politician should notice the downturn of the economy was truly noticeable when the prices sharply inclined...we truly need to focus on energy dependence. Also with prices going dwon I'm afraid more people will go back to their old ways (not worrying about taking trips, buying gas guzzlers again) and prices will go up accordingly. Penalizing the oile companies on their profits will not help....
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Old 10-25-2008, 09:34 PM   #15
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No, it won't, but too many people have this "evil rich" mentality and don't realize that those "evil rich" folks are the ones providing the jobs, plus the fact that businesses do not pay taxes because they pass it on to the consumer. They also don't realize that 40% of oil company stock is owned by middle class folks like me via pension plans and the like. China hording oil was one of the things I harped on all summer but when people are paying out their butts for gas, it falls on deaf ears so they naturally blame the guy in the White House which is easy because most people don't understand basic business principles such as supply and demand or how a free market economy works.
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Old 10-25-2008, 10:16 PM   #16
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1.99 here in SD
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Old 10-25-2008, 10:41 PM   #17
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1.99 here in SD
I read that for a sec... and almost fell over, yelling in my head "WHERE?!".

Then I looked at your location, and saw that you meant South Dakota, and not San Diego. Then I cried.
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Old 10-25-2008, 11:26 PM   #18
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finally getting as low as 2.83 here in oregon
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Old 10-25-2008, 11:52 PM   #19
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Well....If this while economic meltdown hadn't happened gas would still be high...but that what if is like a fart in a hurricane.
True, but if gas hadn't gotten so high, the economic meltdown might not be happening (or at least not so bad) in the first place.
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Old 10-26-2008, 05:35 AM   #20
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The economic meltdown was going to happen. Mr Bernake predicted it the beginning of the year that the US was headed for a recession. The high oil prices this summer was just a catalyst to get the ball rolling. If the prices didn't rise, the housing market collapse would of eventually triggered the economic crisis we are experiencing right now.
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