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What makes you think that is the case and not the increased production from both domestic and foreign sources?
I suspect it is from the oil that was being horded, to drive up prices, and that it is a bubble that burst. Something similar to this:
The volume of refined fuel stored on ships floating at sea has jumped nearly 71 percent since early April, industry sources said on Thursday.
About 41 million barrels of gas oil and jet fuel were being stored in tankers mostly off Europe's coast, up from around 24 million barrels in April, sources said.
Crude has rallied to a seventh-month high on optimism the economy would soon improve, despite the continued build in storage.
The demand for ships to store fuel has boosted freight rates for the Long Range 2 tankers mostly being used, shipbrokers said. The tankers can hold between 600,000 and 1 million barrels.
http://www.businessinsider.com/oil-s...e-april-2009-6
Supply and demand...
Too much more supply than the demand supports. A lost gamble for investors.
What makes you think that is the case and not the increased production from both domestic and foreign sources?
I don't think it's as much as increased production as it is less demand. You might be right, but seems to me our production is close to the same rate of increase as population.
couldn't be more wrong if he tried
What a got.
7 states now.
2.004 in Virgina or they would make 8
The lowest near me is $2.67
$1.74 this morning.
where?
I haven't seen that since last Jan/Feb. Was still 1.90+ at Costco/UTSA last night.
Walmart/Murphy in North Richland Hills. $1.72 this morning.
For those of you who forget what happens in a democracy:
http://www.haaretz.com/israel-news/....medium=twitter
Making Benji look a fool
Now think about which countries expect this kind of information from government agencies and expect it to be made public... Even if it makes the leading politicians look bad.
41 states now under 2 bucks.
http://www.fuelgaugereport.com/
With Thanksgiving In The Rearview, National Average Eyes $2 Mark.
Lowest Thanksgiving day price since Depression Era Bush in 2008.
Barry continuing to kick ass.
Some stations are selling gas for less than $1.50 a gallon
In some gas stations around the country, the price of a gallon of regular has dropped below $1.47. AAA and GasBuddy, two organizations that follow gas prices, say that gasoline prices below $2 will be routine around the United States. As oil prices fall, and refinery capacity stays strong, the price of gas could reach $1 a gallon, a level last reached in 1999.
http://www.msn.com/en-us/money/marke...cid=spartandhp
Barry would ing love $5 gas.
Why?
Barry would ing love $5 gas.
It's shocking to see regular gas at near $1.70 in some San Antonio area stations.
Because high gas prices supposedly speed up the transition to electric powered vehicles.
That alternative ball is already rolling and nothing is going to stop it.
The fact that all the producers are keeping as many wells running as possible just signals a final push for market share I don't see changing.
it's not "shocking" but disappointing.
carbon taxes are the way to go, on all carbon stuff, including transport fuel.
The switch of non-carbon energy for cars will be massively disruptive as soon as we get further down the development path, and new physics, materials, engineering for energy storage open up. Carbon fuel's future is as dead as Repug and white male Christian demographic hopes.
It's shocking and disappointing that prices are that low. We've been waiting for the battery breakthrough which is the major bottleneck... how much longer are we going to be waiting?
Because low carbon prices make it harder for alternatives to be economically feasible.
lol, you're late
prices of wind energy, solar energy and battery storage keep dropping. investment in the same keeps rising, in no small part because rich countries can afford it and dislike the economic externalities.
alternative energy faces headwinds for sure, but the writing is on the wall: solar, wind and batteries will be more compe ive. they've already come a long way in a short time.
This has little to do with Iran so far. It's mostly Saudi increasing output 9 months ago and continuing. Sure it was probably part in anticipation to the Iran deal but also due to Russia, US drilling, alternative energies, etc. Saudi just trying to keep hold of the market by squeezing everyone out.
Sad thing is Saudi did not expect Russia to bail Assad out and Yemen conflict to get so complicated. Now they face war in multiple fronts, 100 billion deficits and no sign of flinch bye either Iran or Russia. Rookie mistake by rookie imperialists.
Saudi's did not increase production significantly. They simply refused to be the one to unilaterally cut production to support the price of oil like they have historically done.
Last edited by CosmicCowboy; 12-30-2015 at 04:01 PM.
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