Political Forums - Gasoline.

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Paid $2.96 a gallon Sunday. A quick look show none below $2.91 hereabouts - yet.

Pete

I paid $3.63 per gallon (8 cents+ for using CC) but prices here like Chicago tends to be one of the nation's highest. Watch out, Hummers may make a comeback.

Saw $2.90 yesterday. Recent demand below expectations. Production cuts will soon drive prices up.

Heard on the commie NPR today that OPEC says no way, they will not cut production.

They also said fracking in the US is largely behind world oversupply.

What do I know :shrug: I hope it hits a buck.

Pete

Strike while the iron is hot and bump the fuel tax rate by bringing it inline with inflation.

Quote:

Originally Posted by nailer (Post 244721)

Saw $2.90 yesterday. Recent demand below expectations. Production cuts will soon drive prices up

No

this is the new economy with shale oil and fracking.
Saudi Arabia is planning to cut prices as a matter of fact.
Think about it...ISIS destabilizing the Middle East and prices are still dropping.
That would not have happened even 5 years ago.

Quote:

Originally Posted by bobabode (Post 244729)

Strike while the iron is hot and bump the fuel tax rate by bringing it inline with inflation.

I absolutely agree.

We should jack up the gas tax to where it is in western Europe.

That's what I would do if I were dictator.

Jack, jack, jack, jack, jack, jack, jack.

Our gas tax goes nowhere near paying for the negative impacts of the American love affair with Land Yachts.

I'd make these big ass 4X4 pickem up truck and SUV drivers feel some serious pain.

The same goes for Truckers.

It's about time they started paying their own way.

Sales tax is regressive, it affects the poor the worst.

Pete

This should also be an lesson to lefties about what the actual drivers are of oil prices. Has nothing to do with who is in the White House or which president has friends at "big oil." It always has been, and always will be, about supply and demand. Period. End of story.

http://www.cnbc.com/id/102084062

The abrupt acceleration of an over 26 percent slide in prices since June was triggered by three news items that epitomized the market's turn: a downgrade in global oil consumption forecasts; projections for another big boost in shale oil; and reluctance by OPEC members to cut output.

Oil is struggling to find a floor after Saudi Arabia made clear that it was focused on maintaining market share, not supporting prices with unilateral production cuts.

Other members appear to be taking a similar tack. A source familiar with oil policy in Iran, normally one of the first in OPEC to call for production cuts, followed Kuwait in saying there was no need to rein in supplies.

"I think it's just continued the rationalization that all signs continue to suggest that OPEC is not going to do much," said Dominick Chirichella, senior partner at the Energy Management Institute, New York.

...and its that part that I bolded above as one significant reason why OPEC doesn't want to cut production and the Saudis are saying they want to "maintain market share."

Quote:

Originally Posted by Tom Joad (Post 244731)

That's what I would do if I were dictator.

Frack, frack, frack, frack, frack, frack, frack.

Fixed it for you...

Quote:

Originally Posted by whell (Post 244734)

Are you ignoring the significant work that has been done on the demand side of the equation?

http://www.nytimes.com/2012/08/29/bu...ards.html?_r=0

http://www.caranddriver.com/features...cafe-standards