According to Steve Forbes the gas bubble will soon burst and we will be seeing 30 to 32 dollar a barrel oil. We'll see....
Sure it is. We all proved to the oil companies we'd pay whatever price they want. Supply and demand.
The Hampton Roads area of Virginia already has several stations back below $3, with two at $2.75
$2.99 a gallon.
If $3 a gallon of gas is here to stay, next elections some elected officials aren't.
NO! It was going down all day yesterday. I suppose CNN, Chris Isidore didn't notice.
http://money.cnn.com/2001/08/31/companies/column_sportsbiz/isidore_columnist.jpg
Here in Bradenton, FL, I filled up for 2.65 at Sam's CLub yesterday. They are normally ~ .06 cents below street prices, but street prices remain around $2.99.
Yes, but don't worry, the price of everything else will also go up so you won't notice it.
September 8, 2005
The Wrong Answer for High Gas Prices
By Steve Chapman
http://www.realclearpolitics.com/Commentary/com-9_8_05_SC.html
-snip-
It's hard to see why oil companies shouldn't make a lot of money when the commodity they provide is suddenly in short supply. After all, they are vulnerable to weak profits or even losses during times of glut. Back when Americans were enjoying abundant cheap gasoline, the joke was that the surest way to make a small fortune in the oil industry was to start with a large fortune.
Oil companies are also subject to the whims of nature. No one is holding a charity fund-raiser for the businesspeople whose rigs and refineries were smashed by Katrina. No one will come to their aid if prices drop by half.
Besides, high prices serve two essential functions: encouraging production and fostering conservation. Spurred by the lure of windfall profits, oil companies will move heaven and earth to get more gasoline to consumers. Shocked by the tab when they fill up a 5,600-pound SUV, motorists will look for opportunities to leave the Suburban at home. They may even commit a sin not covered by the Ten Commandments: coveting their neighbor's Prius.
When do I get my $1.19 a gallon gas back??? Should I sell my SUV once and for all?
Already down from $3.19 to $2.99 here.... and will continue to fall.. that jack up of .75 a gallon in a day was just gouging, at least in this area... those who remained calm will buy it cheaper... those that ran around like idiots will be burning their $3.19 gas that they put into every container they could find for the next few weeks cursing themselves and gas prices continue to fall.
Is that LESS than $3?
Here to stay?
Of course not.
It'll eventually get to $4.
Nope, saw 2.99 for unleaded in Holly Springs this AM.
We're already back down to $2.899 in NE OK.
Well, maybe $3 gas now and then during a price war.
What a depressing thought.
