Oil Prices

[cstrunk]

I noticed no one had mentioned anything yet... but oil is down to $33.87 per barrel. Unbelievable.

Also of note, this recent price drop is AFTER OPEC had announced it's biggest production decrease ever (2.2 million barrels). It shows how demand really must be dropping like a rock for oil to continue to slide like this.

Dow Jones, Nasdaq, S&P 500, stock market data - CNNMoney.com

I love cheap gas, for personal reasons. Imagine how much worse things might be with the economy if oil had stayed high instead of letting the market control the price and drop like it has. Everything would be more expensive, in a market with fewer and fewer people being able to afford goods. That wouldn't be pretty.

However, this definitely doesn't bode well for alternative energy projects. I'm guessing funding will be tight until the next fuel price spike. Our only hope is that the last spike opened everyone's eyes, and alternative energy research continues to grow.

 

[Thornhill]

...but gas prices are the same as they were when oil jumped up to $50 last week. I'm sure that doesn't have anything to do with the holiday travel coming up.

 

[dosry5]

I wonder what Coach Chizik is paying for gas in Auburn?

 

[cstrunk]

...but gas prices are the same as they were when oil jumped up to $50 last week. I'm sure that doesn't have anything to do with the holiday travel coming up.

Gas was $1.55 in Ames a week ago, then jumped to $1.60, then $1.70 the day after the first increase. I'm sure it has everything to do with a short-term demand jump for gasoline for the holiday's (and students leaving town, needing to fill up... :skeptical. With the price of oil dropping like this, I foresee gas to drop after New Year's.

 

[Scott34]

Man it would be sweet if we seen gas under a $1.25, hell even $1. I never in my mind thought that we would ever see gas below $!.50 again. But then again I never thought the economy would be at the crappy stage its at now either.

 

[Bubbahotep]

I wonder what Coach Chizik is paying for gas in Auburn?

I'm sure Jacobs pumps his gas, doesn't want his new wonderboy stressed.

 

[brianhos]

You all just wait till carbon taxes make that gas a lot more expensive.

 

[CyCloned]

Gas was $1.55 in Ames a week ago, then jumped to $1.60, then $1.70 the day after the first increase. I'm sure it has everything to do with a short-term demand jump for gasoline for the holiday's (and students leaving town, needing to fill up... :skeptical. With the price of oil dropping like this, I foresee gas to drop after New Year's.

Ya, the price of gas went up 25 cents in Cedar Rapids this week, while oil dropped to a level where gas should be under a buck. I like the low prices, but I still feel like someone is putting it to us.

 

[Scott34]

It's still hard to believe that gas is $2 lower then it was 6-8 months ago.

 

[Shinyhappyclone]

It is hard to not suspect some shenanigans with the timing of the "speculation" that drove prices high and the US Presidential Election. Despite all the posturing over issues and needs, 60% of soccer moms and golfing dads probably vote based upon the warm fuzzy or slight distress they feel at the gas pump. It is bizarre.

 

[cytech]

seeing as I got a silverado in may when gas was almost $4 per gallon. I am loving it. Specially with the big discounts on the vehicle.