How low can it go

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Yep they are bankrupting the American oil industry and in return, drive the price back up just enough to make it not fees able for us to produce and at the same time them profit the most possible.

I would gladly pay 2.50 a gallon. Who can actually say they have saved the few extra bucks from every fill up with prices being lower??
And is that few dollars savings worth the other industries that will start to decline such as construction, auto industry, totesome stores, private mechanic shops, town cafes, etc??
The longer oils stays down the more businesses will decline..

Money velocity is always higher when oil is higher.

Diesel was at it's highest I was filling up twice a week, 2 trucks, to the tune of 155 bucks a fill up, today I fill up for 55 so we are talking more than a few dollars. 100 bucks is 100 bucks.
The oil industry put itself where it is largely with the help and influence in the political world so to say politics is not involved, well I just don't buy it and by March of 2017 things will be back to normal or maybe not time will tell.

Don't get me wrong Rees, politics is deeply involved in the oil and gas industry. The billionaire conglomerate owners put themselves where they are are with political involvement. The industry put itself where it is at to meet our demand, on the backs of hardworking men and women.

I'm just saying what is happening right now is not a national political ruse to buy votes. It's and international economic war.

The fact that diesel is so much higher in price than gas is political greed. They drove it up because it's the one fuel that we NEED to function. We can drive our cars more or less depending on our own finances but trucks and trains and ships have to move everyday. Topped of the tanks on this ship last night to the tune of $46,000. Personally, I'll take even a penny saved so that I can spend it on jigs and crank baits!

What ticks me off is that back in the early 70's we were told that the oil and gas was just about gone. We were only allowed to buy like 5 gallons of gas at a gas station at a time. Now they are flooding the market with oil and gas. Wonder what lie they will tell next to cause gas to go back to $5.00 a gallon.

No lies, just evolving technology and global politics. It's somewhat complicated how it all works. I know because it's my business to know, how I make a living. Saw this coming over a year ago and attempted to warn folks to no avail.

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Originally Posted by Tracker123

No lies, just evolving technology and global politics. It's somewhat complicated how it all works. I know because it's my business to know, how I make a living. Saw this coming over a year ago and attempted to warn folks to no avail.

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Wait until Iran oil hits the market in the near future. Could be buck a gallon by summer barring major geo political event. Sucks for the North American oil producers.

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Originally Posted by downsouth

Wait until Iran oil hits the market in the near future. Could be buck a gallon by summer barring major geo political event. Sucks for the North American oil producers.

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Evidently you have not read about the big oil strike up in the Dakotas.....we shouldnt ever have to buy foreign oil.

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Originally Posted by "G"

Evidently you have not read about the big oil strike up in the Dakotas.....we shouldnt ever have to buy foreign oil.

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Of course I have. It cost the middle east 12.00 a barrel to pump out their oil. It cost us much more for various reasons, regulation, higher wages, not to mention the added cost of fracking. S Dakota is suffering now as well as Texas and Alaska.

A lot more Americans benefit from lower gas prices then the number of people that get laid off. The money saved by normal Americans is able to be spent on other things and businesses. The number of oil companies and employees laid off is a small percentage compared to the number of Americans that benefit from low prices. Oil company's made Record profits while the rest of us suffered. We ran a trucking company and we had 13 trucks when fuel prices jump so high during the recession we were put out of Business after 23 years because Companies didn't want to pay enough of a freight rate to make a profit. It took 2 to 3 years for companies to get use to higher rates. Thousands of small companies and owner operators went under. It was estimated over 100,000 drivers lost their jobs. But yet The oil companies made all time record profits during this time. why couldn't they suffer a little bit then like everyone else? Just my opinion which don't mean much!t

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Originally Posted by downsouth

Of course I have. It cost the middle east 12.00 a barrel to pump out their oil. It cost us much more for various reasons, regulation, higher wages, not to mention the added cost of fracking. S Dakota is suffering now as well as Texas and Alaska.

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Wrong - I know such things.