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WildcatMike
Kentucky Fan
Lexington, KY
Member since Dec 2005
28277 posts
 Online 

$200 barrel of oil?
LINK

Could it happen?

And standing in front of half of pipeline is really not helping showing the support of domesticated drilling/production.

Gas prices could stahl the economy...and I am afraid Obama is going to feel the wrath.


Tiger Authority
LSU Fan
Member since Jul 2007
29476 posts

re: $200 barrel of oil?
Damn speculators.


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Bard
LA-Monroe Fan
BR
Member since Oct 2008
26754 posts
 Online 

re: $200 barrel of oil?
Summer driving is coming, but $80 bucks per barrel between now and then might be a stretch. If it did happen though, the Washington switchboards would be shut down due to people calling in to raise hell...



and because the operators couldn't afford the gas to get to work


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trackfan
LSU Fan
Baton Rouge
Member since Sep 2010
19691 posts

re: $200 barrel of oil?
All Obama has to do is announce that the U.S. will not attack Iran and won't support an Israeli attack on Iran and the price of oil would free fall.


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Shananigans
LSU Fan
Red Stick
Member since Sep 2009
350 posts

re: $200 barrel of oil?
I work in the oil and gas industry and while I definetly support the expansion of domestic drilling, hence why I get paid to do what I do, the President or government for that matter has little effect on the price of gas. Government can create a favorable environment but even that wouldn't show positive signs at the pump for years. It boils down to supply and demand its really not rocket science.

So when you hear a President or Presidential canidate telling you he can lower gas prices he is just blowing smoke up your ass.


WildcatMike
Kentucky Fan
Lexington, KY
Member since Dec 2005
28277 posts
 Online 

re: $200 barrel of oil?
quote:

So when you hear a President or Presidential canidate telling you he can lower gas prices he is just blowing smoke up your ass.


Oh, I know...but that was part of his platform in 08. Anyway, people paying at the pump and not the extra...stahling the economy. This can not be good for Obama.


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Big12fan
Texas Fan
Dallas
Member since Nov 2011
4532 posts

re: $200 barrel of oil?
quote:

So when you hear a President or Presidential canidate telling you he can lower gas prices he is just blowing smoke up your ass.


And the flip side of that are candidates who proclaim that "drill baby drill" is the answer to high gas prices.



wegotdatwood
Member since Aug 2009
17094 posts

re: $200 barrel of oil?
So, just throw a dart as far as putting money in oil stocks? Or would that high cause everything to fall?


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DaphneTigah
USA Fan
Flying under the radar.
Member since Dec 2007
4766 posts

re: $200 barrel of oil?
I would not be shocked to see $5 per gallon on 87 octane this summer. (Based on demand picking back up globally & tensions in the middle east)


CollegeFBRules
LSU Fan
Member since Oct 2008
21066 posts
 Online 

re: $200 barrel of oil?
quote:

I would not be shocked to see $5 per gallon on 87 octane this summer. (Based on demand picking back up globally & tensions in the middle east)


You will not see $5 gas this summer.


DaphneTigah
USA Fan
Flying under the radar.
Member since Dec 2007
4766 posts

re: $200 barrel of oil?
California, New York & Orlando (Disney World) will have very close to 5 dollar gasoline this summer.

LINK


ETA: If Chicago is already paying $4.50 per gallon, I would be shocked if they didn't see $5 gallon at the pump this summer. Hope not!
This post was edited on 3/22 at 5:02 pm


CollegeFBRules
LSU Fan
Member since Oct 2008
21066 posts
 Online 

re: $200 barrel of oil?
California and New York are not examples that help your point thanks to state and county taxes. Orlando as the travel capital of the US, likewise, isn't a good example as demand in that area is skewed vastly from the mean.

Trust me, barring a war in the Middle East, you won't see $5 gas.
This post was edited on 3/22 at 5:02 pm


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Bard
LA-Monroe Fan
BR
Member since Oct 2008
26754 posts
 Online 

re: $200 barrel of oil?
quote:

California, New York & Orlando (Disney World) will have very close to 5 dollar gasoline this summer.


When people ask "will we see $5/gallon gas this summer," they usually mean the national average (or at the very least "where I live").


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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
31967 posts

re: $200 barrel of oil?
quote:

$200 barrel of oil?
Bush's fault.


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C
Atlanta Falcons Fan
Port Moresby
Member since Dec 2007
25202 posts

re: $200 barrel of oil?
quote:

So when you hear a President or Presidential canidate telling you he can lower gas prices he is just blowing smoke up your ass.


true but producing here creates high paying job (see north dakota) and will help lift the economy. It certainly won't hurt prices.


GumboPot
USA Fan
Member since Mar 2009
54565 posts
 Online 

re: $200 barrel of oil?
quote:

I work in the oil and gas industry and while I definetly support the expansion of domestic drilling, hence why I get paid to do what I do, the President or government for that matter has little effect on the price of gas. Government can create a favorable environment but even that wouldn't show positive signs at the pump for years. It boils down to supply and demand its really not rocket science.


Right. But don't forget about monetary policy. When the federal government deficit spends they are forced to borrow. At the rate the treasury borrows they force the Federal Reserve to implement poplicies like QE 1, QE 2, Twist 2, and ZIRP. These policies weaken the dollar relative to crude oil.

There are many reasons for the high prices at the pump but currently monetary policy is the main driver.


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Big12fan
Texas Fan
Dallas
Member since Nov 2011
4532 posts

re: $200 barrel of oil?
Anybody want to guess what the true price of gasoline would be if you got rid of the tax breaks, subsidies & credits? If you are for smaller govt, would you want to transfer these expenses (about $4 billion per year) to the individual? We have had it good here in the US with artificially low prices.
This post was edited on 3/22 at 6:20 pm


CarrolltonTiger
LSU Fan
New Orleans
Member since Aug 2005
47793 posts

re: $200 barrel of oil?
quote:

Anybody want to guess what the true price of gasoline would be if you got rid of the tax breaks, subsidies & credits?


$6.86 a gallon?

quote:

We have had it good here in the US with artificially low prices.


Our gas is only cheaper becasue we have fewer taxes on the fuel than places with higher gasoline prices.



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C
Atlanta Falcons Fan
Port Moresby
Member since Dec 2007
25202 posts

re: $200 barrel of oil?
quote:

Anybody want to guess what the true price of gasoline would be if you got rid of the tax breaks, subsidies & credits? If you are for smaller govt, would you want to transfer these expenses (about $4 billion per year) to the individual? We have had it good here in the US with artificially low prices.




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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
31967 posts

re: $200 barrel of oil?
quote:

Anybody want to guess what the true price of gasoline would be if you got rid of the tax breaks, subsidies & credits? If you are for smaller govt, would you want
How much would it be if you knocked off the federal and state gasoline taxes?


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