Enough is enough - gas prices are scary low

[Quiet_Hollow]

Electronic money seems to be on the fast track.

Yes...since 1872.

 

Here's an idea, and I'm just throwing this out there....how about posting solutions to the said problem instead? Figuring out first how to make the situation work for yourself, colleagues, or loved ones, and then post your solution here for the record?

 

...So that others may pick up the baton and run with it.

 

[Bella]

I did. Here's your solution: read the whole thread.

 

But ultimately how the solutions are implemented are dependent on the specific circumstances of the person/family that desires to implement them. Some may see an opportunity to profit handsomely and others may prefer to just survive. Yet others might consider that it is too late for them and that they should focus on making the coming transitions as painless as possible for their posterity. And still others will assume tin foil in the shape of a hat is in play somewhere. 

 

There isn't a single prescription to cure the ills for everyone.

 

The fact that this information is being provided is more than enough for everyone reading it to figure out what is best for them. Think of it as the gift of knowledge and time. Giving detailed instructions on what they should is simply presumptuous. 

Edited February 18, 2016 by Bella

[JJkizak]

Just filled up my tank for $15.65. Price $1.43 per gallon.

JJK

[CECAA850]

Shell is always the most expensive gas around here.  This morning I passed a Shell station showing $1.39/gal.

 

The last time gas was this cheap, the difference between regular to mid and mid to supreme was about .10/gal.  It's closer to .50/gal now.  Seems they've found a way to still gouge customers even with cheap gas.

[Jeff Matthews]

[Audio Flynn]

Yep.  Enjoy, because we will pay for it eventually.  As you say, better to have prices stable and our national supply secure.  Our national supply is now toast.  When they wish, our foreign suppliers can now raise prices to whatever they want as it would take 10 years for domestic exploration and production to recover from the shedding of assets they've had to undertake to survive.  And, many didn't and more won't.  I spent 25 years in that industry and watched this disaster unfold.  It was an energy Pearl Harbor. 

 

Energy independence was something we reached in 2013.  It's gone now.  Enjoy it while you can.

 

Dave

Oil needs to be at 75_95 USD per barrel to warrant reinvestment in petrochemical infrastructure as I have worked in this market for over 20 years.

Saudi led OPEC production output has been very effective at achieving their objective by deteriorating USA energy independence.

[JJkizak]

The Saudi's said many months ago that's what their objective was---to drive the US oil/natural gas companies bankrupt. I thought they were whistling Dixie. (NBR Report on PBS)

JJK

Edited February 18, 2016 by JJKIZAK

[Paducah Home Theater]

Just filled up my tank for $15.65. Price $1.43 per gallon.

JJK

 

I vividly remember traveling to San Diego in March of 1999 and being so shocked at their $1.69 a gallon gas that I called home to tell everybody about it.  Took me about $18 to fill up a rental car, which was the most I had ever spent on gas in a single fill up in my life at that point.  

Edited February 18, 2016 by MetropolisLakeOutfitters

[richieb]

I read that the Ruskies', Saudis, Venezuala, etc. are in talks on production levels remaining at current levels. Of course Russia is withering from current market prices and will side with any producer that will listen to their whimpering. Or they can begin another conflict which is a chippy way of raising prices. You've got to give it to our Saudi "allies" for watching our backs in the petroleum wars. Maybe we should return the favor when they beg, no demand, we protect the very oil field they hold over heads. What nice position to hold.

[Bella]

The world trades using the U.S. $. Crude oil is bought and sold in U.S. $. The volatility displayed in that graph is indicative of the turmoil the world is entering regarding the instability of the currency.

You can't see or perceive it in your day to day lives. The graph helps to illustrate it.

Interestingly enough, things started to get weird after 1972.

Edited February 18, 2016 by Bella

[Paducah Home Theater]

The Saudi's said many months ago that's what their objective was---to drive the US oil/natural gas companies bankrupt. I thought they were whistling Dixie. (NBR Report on PBS)

JJK

 

When this first happened, there were reports saying that Saudi was content going along with OUR low prices for now, as they could ride it out for 10 years.  Personally I think the "blame it on Saudi" thing is nothing short of propaganda.  

[Paducah Home Theater]

It's all about hurting Russia.  

 

 

https://www.rt.com/op-edge/224831-davos-forum-elite-switzerland-business/

 

" I think it’s quite reasonable to expect that the price declines, which we’ve seen over the last few months, were also caused by heavy selling in the American future markets, and you could call that a form of economic warfare – it is an [all]-out economic war between the US and Russia now. If we see who has more problems [caused] by current oil – they are Russia, Iran, Venezuela – these countries can be seen as enemies of the US."

 

 

 

http://www.sott.net/article/287171-Economic-warfare-The-Secret-Deal-between-US-and-Saudi-Arabia-to-manipulate-oil-markets-and-hurt-Russia-and-Iran

 

"Saudi Arabia wants to get Iran to limit its nuclear energy expansion, and to make Russia change its position of support for the Assad Regime in Syria. Both countries depend heavily on petroleum exports for revenue, and a lower oil price means less money coming in, Abanmy pointed out. "

 

 

 

 

http://www.zerohedge.com/news/2014-10-10/oil-weapon-new-way-wage-war

 

"the Obama administration is also wielding the oil weapon against two of the world’s leading producers, Iran and Russia."

 

 

 

 

 

http://www.huffingtonpost.com/ambassador-muhamed-sacirbey/economic-warfare-the-them_b_6414428.html

 

"Is the Russian Ruble becoming financial rubble as consequence of targeting by the U.S. and its allies? The dramatic fall in oil prices and commensurate drop in the Russian currency, is this coincidental to broader global economic trends or an orchestrated assault?"

 

"U.S., EU and Japanese economies will generally benefit while the rapid drop and particularly the painful adjustments will most hurt Russia, Venezuela, Iran and less transparent economies. "

Edited February 18, 2016 by MetropolisLakeOutfitters

[Jim Naseum]

I read that the Ruskies', Saudis, Venezuala, etc. are in talks on production levels remaining at current levels. Of course Russia is withering from current market prices and will side with any producer that will listen to their whimpering. Or they can begin another conflict which is a chippy way of raising prices. You've got to give it to our Saudi "allies" for watching our backs in the petroleum wars. Maybe we should return the favor when they beg, no demand, we protect the very oil field they hold over heads. What nice position to hold.

And yet..... We remain tightest of tight as allies. Not even a crack of light between us. I hope that causes one to wonder about the meaning.

Sent from my SM-T330NU using Tapatalk

[Jim Naseum]

 

I like the chart. I didn't spend the time to go see what inflation index was used, but my comment is that there are MANY available index theories, and depending on which one you select, the chart can look quite a bit different. "Inflation" as it turns out, is another political/economic football, and is grossly manipulated by the government to tell whatever story they find useful at the time.

[oldtimer]

The index used plus it's reference web site is at the bottom right of the chart.

[Jim Naseum]

The index used plus it's reference web site is at the bottom right of the chart.

 

Thanks. Just look at the complexity of choosing this measure: http://www.bls.gov/cpi/