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Discussion Starter #1 (Edited)
Anyone else notice that the price of oil has dropped below $30 / barrel??? (Actually below $28). We should be in for some significant fuel price reductions before long if this price holds. With Iran's capacity entering the mix, I don't see too much likelihood of it shooting back up real soon (barring political turmoil of course, which comes & goes pretty quickly in some of the oil producing regions).

Anyway.... just thought I'd share for those who might not have noticed. Seems not that long ago it was bouncing between $80 & $100 / barrel.

EDIT: Here's a chart FYI:
 

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Politics is what I'm thinking/hearing.
The middle east and russia want to put oil on the gold standard, much like how gaddafi wanted to put it on the euro, which is why he's no longer around. ;)
The Koch brothers are/were willing to take a loss to keep oil production going to keep them from profiting greatly.
Not to mention it will devalue our dollar Greatly as we have printed more paper money than we have gold to back it.

Yep, politics/political wars would be my guess, but to each their own.
 

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Good news for no one. Politicians/business will gouge the consumer and those companies will some day want to recoup their losses. Oil is a quarter of what it was and half the price to us. Funny math.
 

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Discussion Starter #4
Good news for no one. Politicians/business will gouge the consumer and those companies will some day want to recoup their losses. Oil is a quarter of what it was and half the price to us. Funny math.
Don't forget that that "raw material" (oil) is only one component of cost for producing gasoline.... the rest is transportation (of both oil & the finished product - gasoline), processing (no small feat), and of course the never reducing portion that is taxes. So it (gas price) would never be expected to go down $ for $ (1/2 for 1/2) relative to the price of oil.

With the increasing costs of labor vs. materials over past decades & the ever increasing regulatory demand on transportation & refining activities (plus the unchanged tax portion), I'd say 50% effect might be pretty good to achieve (I wouldn't think we'd enjoy that much off the top of my head... at least not in California where we have a higher tax proportion).
 

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California? Isn't that where the worlds largest gas leak in history is atm?
I don't see/hear much on tv about water conditions from the Fukushima accident either.
Radiation just doesn't disappear overnight, but nobody is talking about damage to the fishing industry.

Refining the oil is the biggest choke point I think.
Cold weather usually shuts down drilling of new well sites around here and many pipeliners are laid off for the winter.
 

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Within CA, Fresno County has one of the highest energy costs against major cities in the US.
I guess we have to be known for something.
 

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Within CA, Fresno County has one of the highest energy costs against major cities in the US.
I guess we have to be known for something.
That would drive me nuts.
In WV, cost of living is low, so with a decent paying job one can live comfortably.

Those gas wars was just on TV. They mentioned something about it being a battle between two particular gas stations.
Lower gas prices would make it even harder for some to consider a smaller mid-size truck, especially since prices are very comparable if you catch them when manufacturers are offering certain incentives.

I can remember when a truck was the cheapest vehicle to purchase, but it only had a bench seat, windows and such were manual.....lol.
Those winged windows doing 55 mph was better than having a/c, nothing beat good ol' fresh air.

It would be nice to see gas go lower or even stay down for a while.
I wonder how that will effect sales of small to midsize vehicles.
 

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California? Isn't that where the worlds largest gas leak in history is atm?
It's a Natural Gas leak, in a 100 year old oil field, the former oil well is close to 60 years old, casing going down to the well, has the leak and the leak is hundreds of feet below the surface. This like all other infrastructure in this country is old, the 2nd largest NG storage facility in the US, is in a 100 year old oil field with $500k to $1 million homes within a mile or two, why were they ever allowed to develop Porter Ranch is beyond me.

Refining the oil is the biggest choke point I think.
Cold weather usually shuts down drilling of new well sites around here and many pipeliners are laid off for the winter.
Refining is an issue along with all the regional blends. Hopefully those pipeliners have been putting money away it will be years before there is work in those oil fields. If they have actual pipeline skills, there are plenty of existing pipelines to be replaced nationwide.
 

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Good news for no one. Politicians/business will gouge the consumer and those companies will some day want to recoup their losses. Oil is a quarter of what it was and half the price to us. Funny math.
I agree with this but for a different reason. If you have a retirement or 401K invested in the stock market, take a look at it now versus 2 months ago. Yes some will blame it on China and that is part of it. Low oil prices are just as big.
 

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Wondering if the ridiculous price for a quart of motor oil has gone down. Very doubtful.
 

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25 Year.. said:
Wondering if the ridiculous price for a quart of motor oil has gone down. Very doubtful.
Picked up almost 100 Quarts of synthetic 0W20, 0W30 and 0W40 Pennzoil, Mobil, Quaker State (and more brands) last month on sale, most of it was $2 / Qt and some of it was $1 / Qt. Was sold in both 5 Qt and 1 Qt containers.
 

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The Oil Crash Of 2016 Has The Big Banks Running Scared....Link.

Just came across this today, for what it's worth.
 

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That would drive me nuts.
In WV, cost of living is low, so with a decent paying job one can live comfortably.

Those gas wars was just on TV. They mentioned something about it being a battle between two particular gas stations.
Lower gas prices would make it even harder for some to consider a smaller mid-size truck, especially since prices are very comparable if you catch them when manufacturers are offering certain incentives.

I can remember when a truck was the cheapest vehicle to purchase, but it only had a bench seat, windows and such were manual.....lol.
Those winged windows doing 55 mph was better than having a/c, nothing beat good ol' fresh air.

It would be nice to see gas go lower or even stay down for a while.
I wonder how that will effect sales of small to midsize vehicles.
Well, fortunately we don't have to fight off tough winters. But the AC takes it's toll in summer. Gasoline prices are about the same as everywhere in CA.
High. Our housing is cheaper than major cities north and south of Fresno. There's always a trade-off I guess.
But after some 12 years I am ready to move out of here. Air quality and some of the worst drivers are wearing me down.
 

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Very bad news for our resource-based Canadian economy.

Hey, would you mind letting us build our pipeline? Please. :act024:
 

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The price of Mobil 1 Synth hasn't gone down any..
 

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I work for one of the largest energy companies in the world at one of their Appalachian business units where we drill for natural gas. It's a VERY tough time for the industry with thousands losing their jobs, small companies going bankrupt, large companies putting major capital projects on hold (or cancelling altogether) and the constant fight to keep the doors open. Oil is the lifeblood of major energy companies and will continue to be for quite a long time. The price of oil is very cyclical. It tends to go up and down in 12-18 year stints. It was extremely low in the late 90's and early 2000's, rose to record levels in the late 2000's and is now back down to record levels again. The economy of the United States follows a similar pattern. As goes oil, so goes the economy. "Experts" are predicting oil to be back up in the $50-55 range by the end of this year and to surpass $60 early in 2017. Nobody knows exactly what's going to happen, but I feel extremely fortunate to work for a large company who has the capital and ability to weather this storm.
 

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Actually, yes it has. As a family, we purchased in 6 states from about 40 different AutoZone stores in December, almost 300 quarts of Mobil 1 Synth in various formulations, paid at most $2 / Qt and in some cases $1 / Qt
I remember when you posted that Henni, I wasn't able to find any at the deal you stated here in So. Cal. I checked the 3 nearest to me?
 
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