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Gas Prices!!!

I paid $1.99 for 93oct at Costco yesterday. I almost wanted to fall out of rocker!!!! I honestly can't remember when the last time was that I actually saw that low of price!
 


Drove past $1.79 for 87, so this weekend drive down to Virginia Beach means I'll be putting in Premium for under $2. Woohoo!
 




yea it is funny how this thread started out with everyone yelling and screaming about the prices skyrocketing now we're celebrating about them just nosediving. and i just saw 1.79 for 87
 


I find it ironic that with plummeting gas prices our economy is tanking and making the whole thing almost mute. I am sure if the economy was in better shape, we would not be seeing these low low gas prices we have now. But I am sure the Big Oil barons are still making their millions even in these hard times.

Don't get me wrong. I am quite happy to see gas prices plunge, but at what cost? And where does it end is my next question......

Just something to ponder....
 
Well the two go hand in had to some extent. With a booming economy, there is more demand as goods are shipped to and fro and people commute further and further to work better paying jobs and with that comes more disposable cash to do weekend things like traveling, outdoor activities like boating and such. As well, with a booming economy, we might gripe about it but the market will support higher prices so that the oil companies can rake in historically record profits. We actually, also, reached a point at its peak in which demand was seriously out pacing supply, on the order of some 10 - 20,000 barrels a day or something along there.

Now, with the economic situation as it is and everyone scaling back demand has absolutely plummeted and is nearing historic lows, so oil prices and as a result gas prices are going to follow.

We have, for many decades now, historically pushed demand higher and higher. As long as we were the only major country doing so prices stayed somewhat stable. When economies like China's and Japans started booming that demand came on line and coupled with our own out of control demand things just went crazy.

Countries like China, Japan, etc were putting price pressures on oil before even Katrina, but when that storm hit and so severely disrupted the supplies it just sent things skyward. THEN the oil companies figured out that while we would gripe and complain about it, we still bought gas and still pushed demand higher and still bought gas guzzlin' SUV's meant to haul 6 - 7 people around and used them for just one person. So the oil companies had no reason to suspect that behavior would change.

Now with the situation as it is, I suspect we are going to see them start crying about oil being so cheap. They got addicted to the profits from such high oil prices and now with it at a third of the cost I bet we see them start complaining that they are suffering and need the government to intervene with policy changes or something like that. They wont ask for a bail out 'cause they know they would bet chastised, tarred and feathered, but they'll ask for something.

However, the good news is that Americans have seen the light and actively seeking ways to not have to use so much gas, even with prices lower which is a really good things as that will at least, in part, keep some focus and R&D in the renewable sector (good for me too since Im trying to move into that industry).

They were afraid to continue showing images of 9/11 for fear of 'offending' someone, but they need to keep plastered on the screens of TV's and the airwaves of radio's the reminders of where I gas prices reached to remind everyone we need to continue this path.
 
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