Posted on 12/02/2008 11:51:28 AM PST by NormsRevenge
COLUMBUS, Ohio – Oil prices dipped again Tuesday and gas prices hit their lowest levels since January 2005 with the United States officially in a recession.
Analysts say prices at the pump may be bottoming out, though demand could fall even further in January with job losses reducing the number of people who drive to work.
Gas prices fell for the 20th week since the July 4th holiday and hit $1.811 per gallon, according to the government's Energy Information Agency.
Auto club AAA, the Oil Price Information Service and Wright Express said prices fell 0.8 cents overnight to $1.812, down 62.4 cents in the past month and $1.249 in the past year.
(Excerpt) Read more at news.yahoo.com ...
And, all the ‘hoopty’ owners rejoice.....they can now drive their hoopty to the welfare office instead of taking the bus.
GasBuddy.com
http://gasbuddy.com/
I know people to not understand the implications of falling oil prices but this is bad news.
At some point people should start to consider hedging their gas prices. You can put $2,500 into a gas ETF that is tied to prices. If gas prices double then so doesn’t your investment and you can take the profits and pay the difference between the $1.50 of today and the increase that will happen.
$1.61 in Staunton, VA on Sunday
Everything we the "working" people do seems to be "wrong".
We drive less "as told"...they complain the tourist industry and consumer sales are down.
We drive "more" and we're polluting monsters.
We eat on Thanksgiving and we're gonna die of "fat". We eat vegies and we risk "bacteria".
JUST LEAVE US ALONE. WE KNOW YOU!! YOU WANT OUR MONEY VIA TAXES....ANYWAY YOU CAN GET IT.
While I agree with you in principle for the short term this is a very good thing. High gas prices coupled with the recession we’re in would be a double blow that we couldn’t easily absorb.
Of course this does make developing new oil sources much less profitable but we’ll have to cross that bridge when we come to it.
Heh, heh, heh.....$1.49 in Richmond today.
I consider it a bubble bursting. That is always good news. It may be followed by pain, but that will pass.
How about this?
http://cc.pubco.net/www.valcent.net/i/misc/Vertigro/index.html
I mean, he IS wearing a white lab coat and everything!
Low oil prices are a result of a world economic downturn and low oil prices mean that there will not be an expansion of domestic E&P.
Drill Here, Drill Now is Dead.
What to do, what to do, cut back on private Micheal Jackson shows in the palace I suppose...
And what about poor little Chavez? Isn't $45 a barrel somewhere near the point where it becomes cheaper to leave that glue he calls oil in the ground? What's a greedy little commie dictator to do...
Ditto Mr. Putine and his greedy Russian mafia pals...
Bush’s fault!
I hear ya,, CATCH-22 deja vu, etc.
What’s the old saying ‘a decent wage for a day’s work?’.
Wait until gas taxes are hiked because the fuel cost is now so low, and then watch what happens when the fuel costs head up again.
Low oil prices are a result of a world economic downturn and low oil prices mean that there will not be an expansion of domestic E&P.
Drill Here, Drill Now is Dead.
I am sure that is in the Dem PlayBook.
>>Drill Here, Drill Now is Dead.<<
I disagree. It should be modified to “Drill here, Drill now so we aren’t caught with our pants down next time.”
>>Drill Here, Drill Now is Dead.<<
On the other hand, “Drill here, Drill now” may be partly (or largely) responsible for this.
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