Yahoo !!! Gas crisis Over

[scott_vt]

One thing about that, Mike. Just because we find oil in the U.S. does not mean it will be sold here. If private companies drill for private oil on private property they can sell it to the highest bidder.

Good Evenin Moss,
Bingo !!!

 

[RonMar]

Regardless of where it is sold, more oil on themarket means lower prices, untill OPEC cuts back production to boost the price. With transportation in the equation, domestic oil should be cheaper to buy domestically if available...

Boy I wish I had $3.50 a gallon gas available. I Just payed $3.99 a gallon today...

 

[Bird]

I wish I had $3.50 a gallon gas available. I Just payed $3.99 a gallon today...

In Denton, TX, Race Trac and Murphy USA (Walmart) were $3.449 today and Quick Trip was $3.459.

 

[EddieWalker]

$3.49 is the price all over Tyler today. Walmart, Super One and the regular gas stations all seem to be at this amount, which is odd. Usually Super One is the cheapest by a few cents.

Eddie

 

[MossRoad]

Regardless of where it is sold, more oil on themarket means lower price

If that is true why has oil production increased over the years yet prices have outpaced those increases.

Check out this chart.

The Oil Drum | Peak Oil Update - December 2007: Production Forecasts and EIA Oil Production Numbers

 

[riptides]

If that is true why has oil production increased over the years yet prices have outpaced those increases.

Check out this chart.

The Oil Drum | Peak Oil Update - December 2007: Production Forecasts and EIA Oil Production Numbers

Because the oil companies tell us, it is harder to find, harder to get at, requires more infrastructure to support increased demand and what not.

It is that replacement cost mythology again, don't you know.

And if you listen to the Saudis, they say we are not very good at figuring out we need more refining.

And if you listen to our Canadian friends, they say just keep your demand up and we can supply you better than anyone else.

 

[jinman]

In Denton, TX, Race Trac and Murphy USA (Walmart) were $3.449 today and Quick Trip was $3.459.

I think gas is actually much cheaper in Oklahoma, but maybe those TBNers are keeping quiet so nobody finds out.

I saw diesel for $4.09 yesterday in Decatur, TX. It occured to me that diesel could dip below $4.00 per gallon soon. Look out! The roads will be full of 18-wheelers again soon.

I'm kidding of course. I'd love for truckers to get a break because the cost of transportation effects everything we buy. When diesel goes under $4, I'll be saying, "Yahoo!" too.

 

[tallyho8]

When diesel goes under $4, I'll be saying, "Yahoo!" too.

Diesel is going to have to go under $2 a gallon before I say Yahoo!

It is $4.09 here in Louisiana right now but it doesn't have much longer to come down because it traditionally goes up in price in autumn when the refineries start producing more heating oil and less diesel.

 

[pennwalk]

Remember when diesel was cheaper than regular? Remember when Fuel oil was cheaper then diesel?(no road tax) Remember when it was cheaper to buy 1000 gallons than 5? My fuel oil supplier called a month ago and wanted me to lock in at $5. Everything seems messed up. Either that or there are a lot of crooks out there. OK 1000 divided by 5 is how many trips to the gas station...

Chris

 

[jinman]

Diesel is going to have to go under $2 a gallon before I say Yahoo!

Dudley, you sure are right. It's easy to look at a $0.50 or $0.75 reduction and celebrate prematurely. Even if diesel goes to $3.50 a gallon, it's still liquid gold.

I quit driving my pickup truck when diesel got way too expensive. I think the last tank I pumped was $3.89. I started the truck last week and noticed the gage said 1/2 tank. I have not bought any fuel for my truck over $4.00 per gallon. However, I'm not willing to let my tractor sit around unused. I've probably burned 50 gallons of $4+ diesel in it. I'd love for diesel to go below $4 so I can fill my drum. I know it won't be long until the price starts to rise again.