UKC Forums - Gas Coming down

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Posted by Stephen Chamblee on 10-09-2008 09:53 PM:

I am starting to think that G W Bush is the creator.... after all he can single handindly bring down the twin towers, direct a hurracane toward New Orleans, and now can get oil prices to come down before an election. I will be attending the Modern Day Church of G.W. Bush this Sunday.

Posted by liberalcreek on 10-09-2008 10:24 PM:

quote:
Originally posted by GA DAWG
Son of guns will do that..I bet the week after the election it will go up 50 cents or more..

Especially if the Democrats impose their promised federal tax hike of 47 cents on the gallon.

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Posted by Knox on 10-10-2008 12:08 AM:

Gas

Its down to $2.99 here in Peru, Indiana at 7:00 pm................Tim

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Posted by Merritt Rice on 10-10-2008 01:53 AM:

Exactly Right!

quote:
Originally posted by Jacob Garrett
Don't worry OPEC will cut down production to drive the price back up before it gets any where near the price it was 5 yr ago.

OPEC held an emergency meeting today Jacob to do just what said, cut production. They like that $100 plus per barrell. By the way gas here in NC. $3.89-$3.99.

Posted by Jacob Garrett on 10-10-2008 01:57 AM:

The days of $1.00-$1.50 a gallon gas is gone forever.

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Posted by Richard Nethery on 10-10-2008 02:11 AM:

I know the gas prices are going down, so is everyones 401K, any stocks you may have, your home, and a lot of people are loosing their jobs.
We are at the Threshold of the next great depression, with a huge deficate, and we didnt even get to vote on the Bail out.
I think that was the single biggest mistake, ever made.
That increased the already huge dificate, and put every tax payer further in debt.
Its Criminal.
SEVEN HUNDRED BILLION DOLLARS!!! Is anyone else outraged by this?

Question, whats nine trillian dollars, plus seven hundred billion?
Anyhow, thats what we owe, every single employed American citizen is going to have to pay that back to our Greedy, Bi Partison, Corrupt Government.
IT AINT THE DEMOCRATS AND REPUBLICANS, ITS US AND THEM!!!

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Posted by englishpride on 10-10-2008 02:17 AM:

HORSE AND BUGGY ARE THE WAY TO GO JUST GOT TO START BAILING HAY WITHOUT USIN A TRACTOR LOL!!!!!!!!!!!!!!!!

Posted by burdette on 10-10-2008 02:26 AM:

i seen where opec wanted to keep it at around 100 bucks a barrell too. these high prices is what helped destroy the economy. its just too bad that greed is so bad in this country that they would let hundreds of thousands of people suffer to make a hand full of people richer. america needs to WAKE UP and open their doors back up and let GOD back in our FREE country before its too late. GOD BLESS EVERYONE

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Posted by lightning1 on 10-10-2008 04:08 AM:

quote:
Originally posted by Jacob Garrett
Don't worry OPEC will cut down production to drive the price back up before it gets any where near the price it was 5 yr ago.

YEP. 2.84 in Iowa

Posted by Derek Chapman on 10-10-2008 04:18 AM:

quote:
Originally posted by burdette
i seen where opec wanted to keep it at around 100 bucks a barrell too. these high prices is what helped destroy the economy. its just too bad that greed is so bad in this country that they would let hundreds of thousands of people suffer to make a hand full of people richer. america needs to WAKE UP and open their doors back up and let GOD back in our FREE country before its too late. GOD BLESS EVERYONE

I COULDNT AGREE MORE WITH YOU BURDETTE

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Posted by GA DAWG on 10-10-2008 05:46 AM:

quote:
Originally posted by Sincere
GA DAWG

How much you willing to put on the line---up 50 cents in a week after the election?

Knox

Were you one who said gas prices before the last election would go down to get Republicans reelected? Many did and it DIDN'T happen.

I bet you never would have thought some places in north ga would have went to 6+ a gallon weeks after the last hurricane either did ya! Its freaking crazy with these gas prices..Still average around 3.69 a gallon today.. If Osoma wins the election its going up.

Posted by bonehead on 10-10-2008 09:01 AM:

paid $3.79 for diesel today

Posted by Susie on 10-10-2008 11:32 AM:

Gas this am in NW MN is $2.88 What a nice change!! Dropped from $3.09 to $2.88 over night.

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Posted by Brenden on 10-10-2008 01:20 PM:

Gas in Louisiana is $3.24

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Posted by Travis Eastman on 10-10-2008 04:54 PM:

3.33 in kalkaska mi

Posted by Oak Ridge on 10-10-2008 05:28 PM:

I got news for you folks that think that the republican party can "drive down" the price of gasoline....or for that matter, the democrats....NO POLITICAL PARTY CAN AFFECT THE PRICE OF GASOLINE.

First off, oil is a globally traded commidity. In the past couple of weeks, oil futures have dropped by nearly 40% in price....why? Because people quit buying it....why? Because we quit driving. Economic fear, and or reallity left us with less money to spend at the pump.....we quit buying as much gasoline, and the supply of oil reserves went up.

Secondly, a lot of speculators sold off oil, to buy gold....gold prices rose while oil prices were dropping...that's what they do...look for investments that will return them the most money.

Next, all but two of the refineries that were shut down by damage/power outages from the two recent hurricanes are back on line now. That means that they are refining more of that cheaper oil....and we are using less of the cheaper gasoline, thereby driving up the supply in a decreasing demand.

I'm sure you guys think that the president seeded the clouds that caused the hurricane, caused it to line up with coastal Texas and take out 45% of our refining capacity.....Oh...and he twisted the arms of the speculators to sell off those lucritive oil futrues, in order to buy gold....

GEEZ......

Oh, and OPEC has already voted to decrease production to "stabilize" oil prices....it's already happened.....

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Posted by Ray&Luie on 10-10-2008 08:41 PM:

Oil

quote:
Originally posted by Oak Ridge
I got news for you folks that think that the republican party can "drive down" the price of gasoline....or for that matter, the democrats....NO POLITICAL PARTY CAN AFFECT THE PRICE OF GASOLINE.

First off, oil is a globally traded commidity. In the past couple of weeks, oil futures have dropped by nearly 40% in price....why? Because people quit buying it....why? Because we quit driving. Economic fear, and or reallity left us with less money to spend at the pump.....we quit buying as much gasoline, and the supply of oil reserves went up.

Secondly, a lot of speculators sold off oil, to buy gold....gold prices rose while oil prices were dropping...that's what they do...look for investments that will return them the most money.

Next, all but two of the refineries that were shut down by damage/power outages from the two recent hurricanes are back on line now. That means that they are refining more of that cheaper oil....and we are using less of the cheaper gasoline, thereby driving up the supply in a decreasing demand.

I'm sure you guys think that the president seeded the clouds that caused the hurricane, caused it to line up with coastal Texas and take out 45% of our refining capacity.....Oh...and he twisted the arms of the speculators to sell off those lucritive oil futrues, in order to buy gold....

GEEZ......

Oh, and OPEC has already voted to decrease production to "stabilize" oil prices....it's already happened.....

And who said old Joe never made any Scence

jking

im impressed Joe keep up the good work

Posted by GA DAWG on 10-10-2008 09:04 PM:

quote:
Originally posted by Oak Ridge
I got news for you folks that think that the republican party can "drive down" the price of gasoline....or for that matter, the democrats....NO POLITICAL PARTY CAN AFFECT THE PRICE OF GASOLINE.

First off, oil is a globally traded commidity. In the past couple of weeks, oil futures have dropped by nearly 40% in price....why? Because people quit buying it....why? Because we quit driving. Economic fear, and or reallity left us with less money to spend at the pump.....we quit buying as much gasoline, and the supply of oil reserves went up.

Secondly, a lot of speculators sold off oil, to buy gold....gold prices rose while oil prices were dropping...that's what they do...look for investments that will return them the most money.

Next, all but two of the refineries that were shut down by damage/power outages from the two recent hurricanes are back on line now. That means that they are refining more of that cheaper oil....and we are using less of the cheaper gasoline, thereby driving up the supply in a decreasing demand.

I'm sure you guys think that the president seeded the clouds that caused the hurricane, caused it to line up with coastal Texas and take out 45% of our refining capacity.....Oh...and he twisted the arms of the speculators to sell off those lucritive oil futrues, in order to buy gold....

GEEZ......

Oh, and OPEC has already voted to decrease production to "stabilize" oil prices....it's already happened.....

REALLY???? You mean to tell me taxing the gas prices want effect the prices any!!

Posted by Cynthia on 10-10-2008 09:11 PM:

I'm back in Fayettevile today and its dropped 21 cents in a week. however at home its still in the high 380's. i think we are getting reamed.

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Posted by LMBEDDINGFIELD on 10-10-2008 09:12 PM:

$3.25 in my hometown - dropped $.25 overnight.

I am happy -

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Posted by Oak Ridge on 10-10-2008 09:16 PM:

quote:
Originally posted by GA DAWG
REALLY???? You mean to tell me taxing the gas prices want effect the prices any!!

In fact it "might"....

If you add the .40 cents a gallon tax on gasoline that is currently on the books, it will certainly affect the price of gasoline.

The theory is that if your budget only allows you to spend say $50.00 a week on gas, then you will drive less using the higher priced gasoline....which will lead to a decrease in usage, or demand, and an increase in supply.....which in theory, drives down the price.....

Of course if we don't decrease our usage, then all it does is cause further hardship for the American consumer. The problem with taxation to decrease usage, is that oil and gasoline are global economies now. Taxing US citizens will not decrease usage in China....

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Posted by GA DAWG on 10-10-2008 09:25 PM:

It will decrease usage for me lol....Heck can they not figure that when gas prices go up.EVERYTHING else goes up.. I'm gonna have to stock up on deer meat..That way I can keep the internet lol.....

Posted by MikeO on 10-10-2008 11:18 PM:

aint that the truth!!!!!!!!!!!!!!!!!!!!!!!!

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Posted by bandithunter on 10-10-2008 11:25 PM:

It's 2.79 this morning, I blame Bush.

Posted by 1939 on 10-10-2008 11:42 PM:

All I know about the gas prices is, every time I fill my pickup the next day it drops 10cents. LOL!

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