How come we haven't talked about gas prices? [Admin Warning: NO POLITICS]

[thekingprawn]

You are thinking real short term here. Don't No be brainwashed into thinking anything under $100 crude is cheap or even acceptable. The richest man in OK is Harold Hamm, owner of Continental Resources. This past year oil companies have quit investing in new infrastruture and drillling. Just sitting there selling what they are pumping and his net worth has doubled. CEO of Devon Energy says their 5-year growth projection is 0-5%. OIl companies don't have confidence that the huge investments to produce more oil will pay off. All due restrictions, not lack of confidence in their abilities. Without more U.S. production gas prices won't ever be down where they were a year ago.

I grew up in Midland, I'm real familiar with the longer term stuff going on. I think most of the gas price hike we see right now is knee jerk fear reaction, so there will be some smoothing of that spike as reality sets in. Good on those who can take advantage of the moment to get some capital to hopefully reinvest for help farther down the line. Longer term I assume gas prices will adjust to a higher baseline like they did about a decade ago when Summer prices over $3/gal became normal in my region.

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[Bronclahoma]

The macro here is that human population has doubled in the past 20 years. It won't take that long to double again. This is the root cause of climate change, available water and energy, all sorts of shortages. It will only get worse. And there isn't even a dialogue about this issue. The price for domestic crude is more influenced by a greater world demand as nations develop than in the past.

I've watched energy for a long time and it seems when either demand or supply goes a bit above the other, the resulting price of crude and of course gasoline over-reacts. There is a real tipping point on crude suppy/demand.

 

[Benanza]

$60 fill-up this morning. ?

 

[SportWest]

Fuel prices get all the attention, but prices of other commodities like fertilizer inputs will cause more pain globally.

Anyone remember the commodity price spike in early 2008 before the crash? It's like that entire period vanished from our collective memory, overshadowed by the financial house of cards that imploded later that year. I remember reading local news articles -- which I can't find online -- about restaurants not serving bread because of prices! There's a school of thought that commodity prices -- by blowing up family budgets -- in fact caused the 08 crash to happen when and how it did, though a correction at some point was inevitable.

 

[Robins21]

$3.95 - $4.14 for regular in southern Va.

 

[Major Kong]

The macro here is that human population has doubled in the past 20 years. It won't take that long to double again. This is the root cause of climate change, available water and energy, all sorts of shortages. It will only get worse. And there isn't even a dialogue about this issue. The price for domestic crude is more influenced by a greater world demand as nations develop than in the past.

I've watched energy for a long time and it seems when either demand or supply goes a bit above the other, the resulting price of crude and of course gasoline over-reacts. There is a real tipping point on crude suppy/demand.

Have you noticed who remains silent through all of the price increases?
The silent ones of the price increase would be those beneficiaries of the fuel surcharges and taxation.
Not to worry though, they'll be applied towards our best interests.

 

[rootdoc]

$3.89 - $4.19 in this part of SC.

 

[Bronclahoma]

The gas taxes are assessed in cents per gallon, so the states and fed will not collect more tax. In fact they will collect less because many people will cut back on their driving. Diesel is another matter, the demand is not nearly as flexible. Freight haulers have fuel adjustment clauses built into their contracts so they don't care how much it costs. Retail profit margins are much higher than on diesel so the truck stops are pretty much OK. The convenience stores and smaller retailers will see their demand go down. The big loser is the consumer. The high gas prices come right out of his pocket and the high diesel prices go into the cost of everything we buy. All these gas hikes and inflation hurt the poorest the worst. I feel for them, there isn't much slack in their budgets.

 

[AndyMac204]

I honestly don't look at gas prices. not much we can do about it anyways. I do know that it took $65.00 Canadian to fill from just under half a tank, which is the highest I've seen yet. shell v-power. gonna be riding bike as soon as the snow melts.

 

[rmreid22]

Here in Western TN, the prices range from $3.99 to $4.29 for top tier regular gas. It is what it is so I just move past the pain and think about when I have to fill up my Mustang GT with premium gas

 

[ESBadlands]

$60 fill-up this morning. ?

Lucky you ?

 

[Major Kong]

"The gas taxes are assessed in cents per gallon"
Thanks for the correction Bronclahoma
Had to look it up just to confirm
per gallon
check

 

[ScareCrow]

$60 fill-up this morning. ?

I keep the tank full, about every 3-4 days I fill up, 3-4 gallons...... So it's not so painful.

 

[Petroph]

Prices are high for sure. But I'm more worried this is going to affect my trade in value by the time I get my BS, as my 2014 fx4 V8 is a gas guzzler.

 

[vxarctic]

Wonder if ford is gonna take the hybrid from the maverick and add it to the bronco sport line up?

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