Cheaper gasoline is bad?
 

I just heard one of the "analysts" on the vulpine network say that gasoline is at a low point in several years and that is not a good thing. He stated that lower gas prices will interfere with more exploration, drilling, fracking, oil shale and sand discoveries, jobs will be lost with a chain effect, and that the saving of $1500 per family in gas prices will in turn make for a major downturn in the economy. Amazing how some people see things!

HA! High gas prices are one of the most unfair "taxes" of all. The working poor, who often cannot afford the newer, fuel efficient cars, have to pay out the nose just to get to work or take their kids places. I can afford the higher prices, but even so I give a lot more thought to getting into the car and going somewhere when prices are near $4 a gallon.

mobil exxon makes billons and billons every year plus all the tax breaks,ya I feel sorry for the ceo.................not

what they probably meant was that the Saudis are still producing oil at high levels even though the prices have come way down in hopes that with the prices per barrel being low it is not cost effective for the deep drilling in the shale and fracking.....then when that stops the Saudis will AGAIN be in charge, it's a never ending cycle

Big $$$$
 

That sounds like a lot of money, but do you know what the percent of return on their investment is? What would you do if they closed up & invested their money elsewhere for a better return? If you think they make a lot of money, buy their stock.

Another example of political doublespeak. What's good for General Bullmoose is good for the USA?

It will cost less for me to drive down to TV this year.
:pepper2::pepper2:

I'm sure we have a big highway repair/improvement jobs bill coming. Gas taxes should be raised now instead of letting our grandchildren pay for it.

Guess what - we are the children paying for what are parents were fearful of. It's a cycle that will continue until we implode.

in the days gone by .....late 80's early 90's we used to pay 69 cents a gallon for gasoline and I think oil was bouncing around $40 a barrel.

Soehow, someway the low prices did not interfere with the subsequent evolution in the oil industry.

The oil industry took on a life of it's own....oil stock speculators....ever rising $$$ per barrel....ever rising prices of gasoline.

The American public, as it does with most major issues, ADJUSTS AND CONFORMS!!!!!

So now that we are beginning to see what the effect of energy indepence (to an early degree) can provide......we are going to start believing the low prices will hurt the future.

Most likely not. Enjoy it while it lasts and by all means support and promote American energy independence.

Ditto that... low income people really get screwed. Do you remember what the price of gas was back in Jan 2008!

I remember when gasoline first JUMPED to 69cents and I was panicked. I had a Buick Electra 225 that got about 13 mpg and I was a teacher /coach making poverty wages. When I started driving in the early sixties gasoline in our area (KC Mo ) was between 18.9 and 21.9 per gallon or less than $1.50 in today's dollars.

.
My favorite time was Fall of 2008.
Gas was over $4 per gallon.

Dealers were selling Pickups at 40% off sticker price.
With ZERO Percent financing for 60 months.

The above incentives were coupled with the IRS Section 179's that
were boosted to $ 250,000.with a $ 800,000 phase out.......
...AND...
for 2008 tax year we also were blessed with the BONUS 50% depreciation.

Office Equipment and Software were at fire sale pricing.

EACH Full "C" portion of your businesses got the ENTIRE 179 benefits.
You could actually MAKE money by spending money for you businesses.

Plus in 2009 I was thankful to get the FREE Electric Golf Cars.

Thank You taxpayers. Always loved to get the freebies.

All legal and much appreciated.

Guess somebody will eventually have to pay for all those "freebies".

My Kids and Grandkids are all into Tree Farming.
That means somebody else will pay for all my free stuff.
Thanks again.



.

Actually gas prices in the fall of 2008 were in the low $2.00 range going down to $1.80 in December. Of course, we were plummeting into a worldwide recession. A lot of incentives were tried with varying results. Banking and the auto industry needed to be saved. A stimulus package was needed. Where would we be now if no one acted? One should be appreciative.

2008 was the last year that my wife and I worked. We each had to commute to work, and our gas cost was around $600 per month.

According to analysts, gas prices are supposed to be in the $2.20 to $2.30 range by Christmas this year. They are already at $1.99 per gallon in OK.

The Dow is expected to break 18,000 today for the first time ever. The November jobs numbers came in today at over 320,000.

Low gas prices, high stock market, lower unemployment...USA, USA, USA.:pepper2:

all good news except the unemployment number which we all know has turned into a political marker that does not reflect the truly unemployed and does not reflect that the increase in part timers for the holiday are nothing more than temporary.

The REAL unemployment number remains double digit.

It's about time the "middle class" in this country got a real break for a change. I'm talking about the working middle class who commute to there jobs each day. We all probably have children, relatives or grandchildren who are struggling financially because wages have not kept up with costs in recent years.

Of course, lower gas prices are a nice break for those on fixed income too. Retirees.

A tightening job market should translate into higher wages. And that's what we have right now.

I don't think the job market is really tightening when the true unemployment rate is at least 12%, and a large number of newly legalized individuals are about to hit the job market.

Yes, people do often cherry pick the phrases and assertions they use to post here and point the finger at the partisan opposition for being oh, so dumb.

This is an objective report on both pros and cons, for people interested in being able to afford fuel beyond next week or next month.

"Depressed crude oil prices, down 25 percent since June are contributing to a growing discussion on what they could mean for domestic oil production moving forward, particularly for shale-related plays like those found in North Dakota and Texas where production levels continue to climb. At least in the short-term, lower oil prices haven't resulted in a slowdown of drilling activity in either geography, but the long-term outlook is more questionable.

The cause for downward trending crude oil prices - surging production levels in the U.S. largely attributable to advances in horizontal drilling technology in combination with a weaker global economy. While lower oil prices are good news for U.S. consumers, currently benefiting from the lowest prices at the pump since 2011, they're potential cause for concern to drillers, especially if oil prices slide further….."

Navigating declining crude oil prices : Energy News

Well, let's see, lower oil prices are good for consumers which number in the tens of millions, but not so good for the drillers in ND. They have had a pretty good run and will again. So let's enjoy this break while we can.

Yes, let's definitely enjoy the lower gas prices. And let's not encourage unaware people into driving bigger, more gas guzzling vehicles as I see being driven a lot by "the working poor" AND well-off people here who are NOT using their dual-cab Ford F150 or F250 for self-employed construction or landscaping work.

If domestic drillers in ND, Texas, Pennsylvania, and many other places face imported crude prices lower than their costs of drilling, they will not be able to continue toward our national energy independence.

On other states' drillers being affected:

"One looming threat due to low prices and reduced oil drilling involves refineries, specifically those that refine PennGrade crude oil. The two leading buyers of crude from Pennsylvania oil wells are American Refining Group (ARG) of Bradford and Ergon Oil Purchasing of Newell, W.Va.

If low prices sap production, that will impact refinery operations that rely on millions of barrels of crude oil from PennGrade producers in Ohio, Pennsylvania, New York and West Virginia.

Two years ago, when strict regulations aimed at deep Marcellus gas and Utica oil operations threatened to derail the smaller producers who were cutting back their operations, the refiners reported they were operating below capacity because of a drop in PennGrade supplies. Low oil prices will further depress production, said D'Amico.

In addition to low prices whipsawing the shallow oil industry, the lack of available acreage for more drilling is cutting into production, said D'Amico…."

Crashing oil prices hurting Pennsylvania drillers - SFGate

I can see how some workers can be adversely affected, of course. However, the US is producing more gas and oil than ever before. What is good for the greater number outweighs the least in some aspects?

That seems like a very illogical comment. I can assure our grandparents did not know they were passing their debt to us, we know we are burying our young. Big difference.

With the glut of US produced oil and gas, is the Keystone XL pipeline necessary? The purpose is to transport oil tar sands from Canada to refiners in Louisiana and Texas. The break-even point for the refiners to make a profit has been passed. Will the refiners be willing to refine the tar sands into gasoline on such a shoestring?

IMO, no it is not necessary and never was. The president was correct to delay this as long as he did. Nor is it necessary to drill for oil on public lands.

Correct and correct. Yes he was. No it isn't

Just amazing ............. some real jaw-dropping logic here .

Mobil makes a lot of money because they have enormous revenues but their gross margins are pretty slim; a small gross margin on a large amount of revenue can still be a pretty big number. Apple makes much higher gross margins on their products. Mobil gets the same tax breaks for R&D as other companies. Mobil has large exploration costs with no guarantee of making money.

Well, if you think in a longer term strategic sense, of course it's necessary. Agree we should all enjoy lower gas prices while they last, but one way to do that is increase the supply which is what Keystone does. In other words, Econ 101.

Besides, if the breakeven point has truly been passed then the investors won't pony up the capital to construct it. I would say let them worry about that and it becomes a self-correcting issue.

We will have to agree to disagree on this topic. I can't speak for anyone elses children or grandchildren but mine have not had everything handed to them. Collectively as a society we have become numb to the concept of paying for services we use, doesn't even come to mind anymore. That is the entitlement
we should be concerned with.