1$/gal. gasoline? Maybe, but what does it mean really?

[newbury]

People with low or no skills will never be employed again. They have to rely on the social safety net, because all the jobs for dummies have been automated. Jobs for the strong back and weak mind are extinct. We'll legalize pot and make TV programming really cheap and easy to get. They collect their food stamps and live in subsidized housing. That's the "bread and circuses" solution to excess population that the Romans implemented 2000 years ago. It's true that there are lots of jobs going begging, but most of the unemployed can't pass a drug test. Getting stoned and watching TV is their life. A booming economy isn't going to change that.

Yes, they made a movie about it, Idiocracy.
Wait until the use of robots really kicks in. Like driverless cars and fully automated warehouses.
The

record number of people out of the work force who have flat given up on finding work

are those who have no gumption.

Sort of like me. I quit working when I was only clearing about $2/hour OVER WHAT I WOULD GET PAID AS A RETIREE. I retired after about 45 years in the workforce. I know of several people that won't put in that initial effort to get a career going so they can reap the benefits of bigger bucks. Instead they just float along at the bottom of the food chain.

 

[Fossil Farm]

Back in the 1960's, some "forecasters" predicted that we would have used up all the earth's oil reserves by now (2016) or close to it. I guess they were a bit off target. Many of the drillers of the Utica shales around here are cutting back, but the gas and oil will still be there to tap into in later years. There are always new and innovative ways to extract resources if the price is right. Ores of aluminum, copper, gold, silver, etc. that are now mined would not have been cost effective years ago without the latest innovations.

And why is gasoline and diesel still sold using tenths of a cent ?? Canada gets rid of the penny, but prices are still marketed by tenths of a penny. Always seemed so goofy a system.

 

[newbury]

<snip>
And why is gasoline and diesel still sold using tenths of a cent ?? Canada gets rid of the penny, but prices are still marketed by tenths of a penny. Always seemed so goofy a system.

Because the average mentality only remembers the whole number. The same reason so many items are priced at $X.99 or $x.97 in the grocery store.

 

[davesl708]

Because the average mentality only remembers the whole number. The same reason so many items are priced at $X.99 or $x.97 in the grocery store.

Salespeople get annoyed with me when they tell me their price (say $100) and I say so it will cost me $110. I add the tax since that is what I have to pay.

 

[oldpilgrim]

I think it ought to be illegal to sell gas at $x.xx 9/10 cents per gallon.

If I want one gallon of gas, I can't buy one.

 

[oldpilgrim]

I think it ought to be illegal to sell gas at $x.xx 9/10 cents per gallon.

If I want one gallon of gas, I can't buy one.

 

[davesl708]

I think it ought to be illegal to sell gas at $x.xx 9/10 cents per gallon.

If I want one gallon of gas, I can't buy one.

I saw a station a few years ago that had "XX8/10. Wow big savings over the station across the street.

 

[super55]

I personally would like to see oil prices creep up a little to about 2.75 a gallon. That's a price I can live with filling up my tank and still keeps the price of a barrel of oil high enough for people in the energy sector employed. I read somewhere recently that a ridiculous number like 250,000 jobs were lost due to low oil prices. As much as l love filling my tank up for cheap I'd much rather pay a little more to keep fellow Americans and Canadians employed.

Plus these low prices are creating havoc on peoples 401k accounts. Since the beginning of this year my retirement account has lost almost 10% and that's even with medium risk funds.

 

[MinnesotaEric]

I personally would like to see oil prices creep up a little to about 2.75 a gallon. That's a price I can live with filling up my tank and still keeps the price of a barrel of oil high enough for people in the energy sector employed. I read somewhere recently that a ridiculous number like 250,000 jobs were lost due to low oil prices. As much as l love filling my tank up for cheap I'd much rather pay a little more to keep fellow Americans and Canadians employed.

Plus these low prices are creating havoc on peoples 401k accounts. Since the beginning of this year my retirement account has lost almost 10% and that's even with medium risk funds.

Energy sector is less than 3% of jobs. Was just in Fargo and the place is still booming.

 

[oldpilgrim]

Plus these low prices are creating havoc on peoples 401k accounts. Since the beginning of this year my retirement account has lost almost 10% and that's even with medium risk funds.

I'm sure there are lots of people who love contributing to your retirement.