OT...1.32 gas at Sams Club on Mingo in Tulsa...

[phillinois]

While this is fun to fill up the pig for 32 bucks, when oil recovers and adjust to the low demand world wide, I'm afraid the pound of flesh they'll be seeking will be total overkill in recouping their real or imagined losses.

Yikes!

 

[a. climacus]

I sure hope so. Lol. I'm on the oil field business.

 

[phillinois]

I sure hope so. Lol. I'm on the oil field business.

See, that was a considerable part of my point.
People are suffering, literally.

I'm much rather pay a static amount, say 2 bucks or whatever and see y'all prosper, or at least break even.
New exploration isn't going to happen when everyone is pawning microwaves and guitars to pay the bills.
I get that.

 

[glevans22]

Screw the oil companies, we were screwed over long enough. I hope it gets down to $1.00

 

[Tennessee66]

Screw the oil companies, we were screwed over long enough. I hope it gets down to $1.00

There are a lot of people affected who don't work for the oil companies. A lot of people not paying into the tax base, buying at stores (hint: your local Walmart that is shutting down), etc. Like it or not, this country needs a strong energy sector. America is in the oil and gas business.

 

[glevans22]

I realize that, however I'll take my chances paying a little higher at the stores over paying ridiculous gas prices.

 

[NoleGa_rivals170091]

That's why no one takes you seriously Yankee: It's called politics and affects everything. Everyone wanting their slice for free when the fact is you have to pay to play. Unfortunately we're right back in the bad old 70's again and after we ditch the amateur, hopefully we find a true leader to once again dig us out of a tremendous hole. It's sink or swim all over again.

 

[glevans22]

No one takes me serious because I have a different outlook than yours? Or someone else? Sorry but that made me giggle. I'm not saying I want gas for 50 cents or free, I'm stating I don't feel sry for the oil industry or oil field guys during this time. Perhaps there needs to be a good medium. Not too high or too low, something that works for everyone. I enjoy this break for a while, I'm not saying its good for our country in the long run

 

[Tennessee66]

Actually, I don't think there is a connection politically to the gas prices right now. It was hard working people like OUFB90 and myself who over the past ten years, have been helping the USA become energy independent, and starting just days ago, to become an oil exporter. Translated: Kicking the Saudi's asses. The Saudis and the rest of OPEC don't like it. So they continued to ramp up and hold production levels to add to the glut we already have here in places like Cushing. But they are hurting too. Hurting badly (the A-rabs). I guess if there is anything political about it, is that now Iran will be adding to the glut. But the USA becoming energy independent happened not because of the Obama administration, but happened in spite of the Obama administration. In the long haul, this is a very good thing that happened to the USA.

 

[phillinois]

Actually, I don't think there is a connection politically to the gas prices right now. It was hard working people like OUFB90 and myself who over the past ten years, have been helping the USA become energy independent, and starting just days ago, to become an oil exporter. Translated: Kicking the Saudi's asses. The Saudis and the rest of OPEC don't like it. So they continued to ramp up and hold production levels to add to the glut we already have here in places like Cushing. But they are hurting too. Hurting badly (the A-rabs). I guess if there is anything political about it, is that now Iran will be adding to the glut. But the USA becoming energy independent happened not because of the Obama administration, but happened in spite of the Obama administration. In the long haul, this is a very good thing that happened to the USA.

That's right.
The only way out is for the US to become a player. (this, in spite of all the machinations of any particular administration)

Shale oil tech, whatever.
I'd like to think that OPEC and their little minions might have had their day in the sun.

 

[nptb]

Screw the oil companies, we were screwed over long enough. I hope it gets down to $1.00

I second that!

 

[octerp]

1.32 per gallon is pretty amazing. Consider gasoline was about 1.00 per gallon when I was a freshman at OU in 1977. Assume 4% inflation per year, that 1.00 per gallon becomes roughly 4.61 in 2016.

So you take the current 1.32 and put it in terms of 1977 dollars and it's equivalent to 27 cents per gallon. Crazy.

But before the 1973 oil crisis, the gasoline price was at about that 27 cent level... It's funny how the free market (and technological advances) tend to equalize everything out over time...

 

[phillinois]

1.32 per gallon is pretty amazing. Consider gasoline was about 1.00 per gallon when I was a freshman at OU in 1977. Assume 4% inflation per year, that 1.00 per gallon becomes roughly 4.61 in 2016.

So you take the current 1.32 and put it in terms of 1977 dollars and it's equivalent to 27 cents per gallon. Crazy.

But before the 1973 oil crisis, the gasoline price was at about that 27 cent level... It's funny how the free market (and technological advances) tend to equalize everything out over time...

You are exactly right Zona.
In fact, in western Europe they don't enjoy these anomalous highs and lows of 'petrol'.
Like uh, Italy for example...gas is so expensive they actually kill the engine at stop lights.

That's just crazy to me, the spoiled American.

 

[a. climacus]

Oklahoma in general needs higher oil prices to survive. It all swings with oil.

 

[csregor]

Yankee, your insight is shorter than a jew's penis. You better hope Saudi Arabia and Iran don't go into armed conflict or you will be paying closer to $5 gallon. Fitty the reason is that oil companies such as Shell, Agip or Total don;t mind low oil prices because they send their African crude into their refineries on the Med and sell the refined products for $2/litre. Low oil = higher profits for companies with refining capabilities.

 

[glevans22]

Scottsdale I don't expect it to last, I'm just stating its nice for a while....especially during holiday season. I realize it's not good for the economy to permanently stay this low

 

[NoleGa_rivals170091]

That's right, the Holiday season... Monday will mark the first time EVER I have gotten off for MLK day, simply because the union workers at John Deere have weak build forecasts for the Big Green machines worldwide as a result of this pathetic non-recovery. Cheers and pass another lump of coal

 

[phillinois]

You are exactly right Zona.
In fact, in western Europe they don't enjoy these anomalous highs and lows of 'petrol'.
Like uh, Italy for example...gas is so expensive they actually kill the engine at stop lights.

That's just crazy to me, the spoiled American.

OMG!
I just checked current gas prices in Rome.

They use the Euro of course but it's equivalent to 9.17 a gallon US.
That's just insane.
Especially when you consider 54% is federal tax.

 

[phillinois]

That's right, the Holiday season... Monday will mark the first time EVER I have gotten off for MLK day, simply because the union workers at John Deere have weak build forecasts for the Big Green machines worldwide as a result of this pathetic non-recovery. Cheers and pass another lump of coal

Guess that would be the essence of 'conflicted congratulations'. Eh?

 

[NoleGa_rivals170091]

Pretty much considering I have to burn a paid personal day or a shiny new 2016 vacay day...