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post #1 of 33 (permalink) Old 11-20-2008, 08:54 AM Thread Starter
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Oil in the 40's

How low do you think it will go? I expected it to stop in the mid-to-upper 50's.

How low do you think gas will get? I think we can expect tp see 1.50 gas before it levels off and starts rising again.
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post #2 of 33 (permalink) Old 11-20-2008, 08:56 AM
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I hope we see double digit gas prices.

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post #3 of 33 (permalink) Old 11-20-2008, 08:57 AM
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I hope we see double digit gas prices.

$0.99 Gal Would be fantastic!

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post #4 of 33 (permalink) Old 11-20-2008, 08:59 AM Thread Starter
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$0.99 Gal Would be fantastic!
That would be nice.

I almost shouted for joy when i kept having to squeeze the handle to fit 40 dollars in my truck. Gas light was on too. It used to cost me over 80 to fill up with the same amount of gas.
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post #5 of 33 (permalink) Old 11-20-2008, 09:04 AM
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Quote:
Originally Posted by mustangguy289
How low do you think it will go? I expected it to stop in the mid-to-upper 50's.

How low do you think gas will get? I think we can expect tp see 1.50 gas before it levels off and starts rising again.
It's already $1.57 in the communities south of Houston and $1.59 in Denison and Sherman.

I just wish they'd quit boning us on diesel. No reason for it to be over a $1 more per gallon still.

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post #6 of 33 (permalink) Old 11-20-2008, 09:09 AM
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Originally Posted by mustangguy289
That would be nice.

I almost shouted for joy when i kept having to squeeze the handle to fit 40 dollars in my truck. Gas light was on too. It used to cost me over 80 to fill up with the same amount of gas.

LOL.... I did the same shit.....

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post #7 of 33 (permalink) Old 11-20-2008, 09:17 AM
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It needs to get stable here pretty soon, and hold for a while. I don't think it dropping this rapidly is good for us.

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post #8 of 33 (permalink) Old 11-20-2008, 09:25 AM
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I think that $60 oil is good for the economy. It's enough that the oil producers see a return, but not so much as to be a drag on the economy. The fact that it is dropping into the 40s is very, very worrisome. I look for wells to start getting capped very soon if they haven't already started doing so. Natural gas is having the same problem; the gas company is basically turning off wells at the moment to dry up supply. Exploration has stopped.

We'll pay dearly for this price downturn in the future.
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post #9 of 33 (permalink) Old 11-20-2008, 09:27 AM
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Ya'll might not want to wish for $0.99 gas so quickly.

One of the bigger reasons the Texas economy has done so well in this recession is because of oil.

However I think $40 is a fair price and will still keep bringing money into the Texas economy..

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post #10 of 33 (permalink) Old 11-20-2008, 09:36 AM
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Quote:
Originally Posted by Sgt Beavis
Ya'll might not want to wish for $0.99 gas so quickly.

One of the bigger reasons the Texas economy has done so well in this recession is because of oil.

However I think $40 is a fair price and will still keep bringing money into the Texas economy..
like stated above, I think the 50-60 dollar range is better for the economy as a whole, but hey what do we know, we're just a mustang site.

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post #11 of 33 (permalink) Old 11-20-2008, 09:36 AM Thread Starter
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Originally Posted by mikeb
I think that $60 oil is good for the economy. It's enough that the oil producers see a return, but not so much as to be a drag on the economy. The fact that it is dropping into the 40s is very, very worrisome. I look for wells to start getting capped very soon if they haven't already started doing so. Natural gas is having the same problem; the gas company is basically turning off wells at the moment to dry up supply. Exploration has stopped.

We'll pay dearly for this price downturn in the future.
Well you saw how good $140 oil was for the economy. They way it drove prices for EVERYTHING up and made it to were the average person had to stop buying luxuries just to get to work and put food on the table. Being able to keep a little extra money in our pockets will allow the average worker to begin buying other items again.
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post #12 of 33 (permalink) Old 11-20-2008, 09:42 AM
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Quote:
Originally Posted by mustangguy289
Well you saw how good $140 oil was for the economy. They way it drove prices for EVERYTHING up and made it to were the average person had to stop buying luxuries just to get to work and put food on the table. Being able to keep a little extra money in our pockets will allow the average worker to begin buying other items again.
Well, cheap oil is probably one of the major things that is helping to prop up the economy right now. Could you imagine the current economic situation AND $4 gas? Ouch.
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post #13 of 33 (permalink) Old 11-20-2008, 09:48 AM
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Quote:
Originally Posted by Sgt Beavis
Ya'll might not want to wish for $0.99 gas so quickly.

One of the bigger reasons the Texas economy has done so well in this recession is because of oil.

However I think $40 is a fair price and will still keep bringing money into the Texas economy..
Yeah I was offered $3000 an acre for a gas lease last week, a far cry from the $30k the guys 1 block away got in August. I'm not signing anything for under $25k.

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post #14 of 33 (permalink) Old 11-20-2008, 09:51 AM
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Hope it goes close to a dollar. Everybody better stock up, its going to go back up soon.
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post #15 of 33 (permalink) Old 11-20-2008, 09:51 AM Thread Starter
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Yeah I was offered $3000 an acre for a gas lease last week, a far cry from the $30k the guys 1 block away got in August. I'm not signing anything for under $25k.
What was the first price offered to the guys who finally took the 30k offer?
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post #16 of 33 (permalink) Old 11-20-2008, 10:04 AM
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Everybody better stock up, its going to go back up soon.
Just out of curiosity... where do some of you come up with these predictions? And how, exactly, do you propose we "stock up" on gasoline




BTW, there's going to be a run on Cheez-its later this month. Get 'em while you can


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post #17 of 33 (permalink) Old 11-20-2008, 10:08 AM
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Originally Posted by Strychnine
Just out of curiosity... where do some of you come up with these predictions? And how, exactly, do you propose we "stock up" on gasoline




BTW, there's going to be a run on Cheez-its later this month. Get 'em while you can
Stock pile full cans of Gasoline in your garage.

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post #18 of 33 (permalink) Old 11-20-2008, 10:15 AM
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55gal drums full of gasoline!

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post #19 of 33 (permalink) Old 11-20-2008, 10:21 AM
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Werd around the office is expect it to go back up soon.

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post #20 of 33 (permalink) Old 11-20-2008, 10:56 AM
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Quote:
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What was the first price offered to the guys who finally took the 30k offer?
$20kish. Right now the major players are holding back and my offer was from a smaller company that would resell once the market comes back.

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post #21 of 33 (permalink) Old 11-20-2008, 11:11 AM
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Just out of curiosity... where do some of you come up with these predictions?
Word on the hill is that since we've demonstrated the ability to pay $3/gallon without a change in consumption, and only after hitting $4 did it affect consumption, there's plenty of room on the table for increased gasoline tax.

That's why we'll see the price of gas go up.

Opec will also cut production, Somali's will hijack super tankers with oil (I keed), Venezuela, Cuba & Iran will be in bed with Russia & somehow, the US will take it in the ass.

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post #22 of 33 (permalink) Old 11-20-2008, 11:21 AM
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$20kish. Right now the major players are holding back and my offer was from a smaller company that would resell once the market comes back.
Lease brokers. I used to be one. In the 80's I battled Dubya for leases in West Texas. Course my dad wasn't...

In Arlington I signed last winter at $18.5K.

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post #23 of 33 (permalink) Old 11-20-2008, 11:26 AM
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Word on the hill is that since we've demonstrated the ability to pay $3/gallon without a change in consumption, and only after hitting $4 did it affect consumption, there's plenty of room on the table for increased gasoline tax.

That's why we'll see the price of gas go up.

Opec will also cut production, Somali's will hijack super tankers with oil (I keed), Venezuela, Cuba & Iran will be in bed with Russia & somehow, the US will take it in the ass.
They're already talking about a $1 per gallon tax.

What's with these fucking Somali pirates. Highjacking hundreds of millions of dollars payloads with speedboats?

Talk is cheap because supply exceeds demand!
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post #24 of 33 (permalink) Old 11-20-2008, 11:33 AM
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I've been laughing at OPEC's attempt to lower the production and inability to affect the market. They only control about 40% of production, and it's dropped so much that they don't have enough control to really make a dent. Iran is getting bankrupted, suck it bitch, those sanctions really burn now don't they?
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post #25 of 33 (permalink) Old 11-20-2008, 12:37 PM
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you sir need to get back to work!!!

Quote:
Originally Posted by mustangguy289
How low do you think it will go? I expected it to stop in the mid-to-upper 50's.

How low do you think gas will get? I think we can expect tp see 1.50 gas before it levels off and starts rising again.

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post #26 of 33 (permalink) Old 11-20-2008, 12:47 PM
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I've been laughing at OPEC's attempt to lower the production and inability to affect the market. They only control about 40% of production, and it's dropped so much that they don't have enough control to really make a dent. Iran is getting bankrupted, suck it bitch, those sanctions really burn now don't they?
Hugo Chavez is sucking wind as well with his programs to redistribute the oil wealth. Now that oil is down the funds have dried up LOL......
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post #27 of 33 (permalink) Old 11-20-2008, 01:01 PM Thread Starter
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you sir need to get back to work!!!
Watch it!
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post #28 of 33 (permalink) Old 11-20-2008, 01:13 PM
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Watch it!

you better watch it....or Jeff is gonna get ya!

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post #29 of 33 (permalink) Old 11-20-2008, 01:33 PM
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post #30 of 33 (permalink) Old 11-20-2008, 01:44 PM
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Hugo Chavez is sucking wind as well with his programs to redistribute the oil wealth. Now that oil is down the funds have dried up LOL......
Chavez was sucking wind even before the price of oil started dropping. He nationalized oil production and put his personal cronies in charge of it. However, none of them are "oil guys" and production has been dropping ever since. They have run it into the ground pretty quickly down there. Pretty much like Mexico has with their nationalized oil company.

If you're going to have a national oil company, your people should know WTF they are doing. Other countries, like Saudi, have national oil companies but they are run by oil guys...

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post #31 of 33 (permalink) Old 11-20-2008, 01:50 PM
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And how, exactly, do you propose we "stock up" on gasoline



Time to restock the tanker in the group purchase forum.

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post #32 of 33 (permalink) Old 11-20-2008, 02:02 PM
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Originally Posted by Sgt Beavis
Chavez was sucking wind even before the price of oil started dropping. He nationalized oil production and put his personal cronies in charge of it. However, none of them are "oil guys" and production has been dropping ever since. They have run it into the ground pretty quickly down there. Pretty much like Mexico has with their nationalized oil company.
From what I understand, Mexico has taken steps to reverse that by trying to privatize sections of Pemex. There was a huge uproar when it was first suggested. Also another major difference between Mexico and Venezuela is Mexico doesn't have/want a Hugo Chavez-esque person in office. Their fate is too closely linked to the US. That's one of the reasons why Lopez-Obrador didn't win the last election. He was WAY too radical and was seen as too big of a liability for US-Mexico relations.

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post #33 of 33 (permalink) Old 11-20-2008, 03:01 PM
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Time to restock the tanker in the group purchase forum.

im stocking up on oil instead.
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