Fuel Price report...

[Frank G]

Cheap energy overall HURTS the US economy. The US is one of the largest energy producers in the world. Combined with our neighbors Canada and Mexico, larger than OPEC.

Whatever damage its doing to the US economy, its doing far worse to Russia. If the tide does not turn in the next year, there will be political unrest that will directly effect US.

The lower price of energy will curtail capitol investment across the energy spectrum, not just oil. The resultant loss of jobs is more than the few gained by higher consumption of other items energy costs influence.

Loss of energy jobs will effect most other industries in the long run as demand drops with the reduction of high paying professional positions.

As I said, enjoy your few dollars savings at the pump. Think what would happen to your job if the product your company derives revenue from were price cut in half tomorrow.

I respectfully disagree with you. Apparently these High paying jobs you speak about are not necessary as we are getting product at a reasonable cost without them. "Hay" I pumped more diesel at $.249 at a truck stop along I-80 90 in the 60's than I care to remember. Yep, after school, 3 shift, dead of winter, paying for my education.

I have had to reinvent myself 3 times in the last 40 years as manufacturing headed south and then to China. Yep, lost many of jobs to out sourcing. The last one came in 2008 when my wife and I expanded our business and then gas exploded into the $3.50 range. This took away the disposable income the local economy was spending with us (and others). WE ALLMOST WENT UNDER. It took 6 years to recover. So...quit your crying take a wage cut, and go back to work. Just don't tell me how bad you have it at my expense!

 

[wyliec]

jcthorne,

I think you're much better with coffee beans.

 

[PCBeachBum]

I saw $2.57 at a gas station near me.
It was $3.05 less than a month ago.
It's true that some people may lose their jobs due to the low cost of gas, but I think the overall benefit outweighs their hardship.
Remember, it was the high cost of fuel that drove people out of their houses in 2008. Yes, I know these people were also primarily sub-prime mortgage clients.
We always say that the consumer drives the economy. When the consumer has more money to spend, then there is more economic activity in other areas.
Instead of an economic pendulum, this price decline is driven by far more oil produced in this country (despite the governments best efforts to the contrary).
I am not convinced we will see high gas prices again. Now that the infrastructure for fracking has been built, the producers will be able to weather lower costs.

That's my opinion. I could be wrong, and I'm sure there will be many here to tell me so.

ThreeWheels, How much is that cost is going to state in taxes? It seemed every time I filled up when I lived in CT, the cost went up $0.03 cents for road repair, while the potholes got bigger. It was around $0.38 per gallon when I lived there and seemed every time the price of gas went down, the state found a way to raise the tax on a gallon of gas.

So glad I moved and won't tell you how much it cost me to register my truck, spyder, boat and trailer for 2015, it would blow your mind. Gas here now is $2.33 a gallon and living on the beach is higher than Panama City.

 

[jcthorne]

I am used to this type of comments. Having worked in the energy industry for over 25 years, you learn there are two types of persons in the US. Those that work in the energy and related petrochemical fields and those that THINK they deserve the fruits of that industry's efforts at far below its actual cost to produce. The big bad oil companies make money for shareholders. Those are folks like you and me and your parents. If you own any mutual funds, likely you own energy stock. They have not been the most profitable shares in many years. Its a tough industry. PROFIT is not a bad thing.

And just FYI, I am not crying. I currently have a very good position in a large engineering company that services 3 of the big 4 energy companies and several of the green infrastructure developers. This oil price dip has hurt the alternative energy industry far worse than the 7 sisters.


Energy is much like infrastructure and health care, most folks in the US feel entitled to it, not a product they need to buy or support. Thats ok. I have made a pretty good living and learned much from this industry. If it did come to it, my skills would move to other less technical industries very easily.

 

[ThreeWheels]

Cheap energy overall HURTS the US economy. The US is one of the largest energy producers in the world. Combined with our neighbors Canada and Mexico, larger than OPEC.

Whatever damage its doing to the US economy, its doing far worse to Russia. If the tide does not turn in the next year, there will be political unrest that will directly effect US.

The lower price of energy will curtail capitol investment across the energy spectrum, not just oil. The resultant loss of jobs is more than the few gained by higher consumption of other items energy costs influence.

Loss of energy jobs will effect most other industries in the long run as demand drops with the reduction of high paying professional positions.

As I said, enjoy your few dollars savings at the pump. Think what would happen to your job if the product your company derives revenue from were price cut in half tomorrow.

Sorry, but I'm not sure I agree.
The driving force behind the decrease in the cost of gasoline is the lowered cost of oil. It still takes the same amount of people to distill, store and distribute the oil.
With the lowered cost of fuel, EVERYTHING that is shipped will also go down in cost. Milk will cost less, TV's will cost less.
And of course, it will cost less to produce goods.
I just can't see how that's a bad thing.

Just my opinion, I could be right you know, even if it's an accident.

 

[Dan McNally]

I refuse to be made to feel guilty about being able to buy gas for less than what I paid for it last year . . . I am not putting anyone out of work by doing so . . . I am paying the market price . . . just like I did when it was over a dollar a gallon more than it is, now. nojoke

 

[Yazz]

Second time round y'all...

Hubby got into the oil business in '81. Oil was selling for $40 per barrel. The Alaska oil pipeline came into service in the late 70's and deep water offshore drilling was profitable.

The Saudi's started losing market share during the mid 80's and they decided (...just like now...) not to back off oil production and drove the price down to $10 per barrel.

Hard times in Houston then. We know because we lived through it. The price of gasoline went down. It took 20 years (mid 2000's) for the price of oil to recover back to $40 per barrel.

All of this is happening because shale oil drilling. All good, right? We're becoming self-sufficient and the Saudi's don't like it.

Here's the good news. The price of gasoline at the pump is going to be in the range it is now for a long time. Good news for the U.S. economy. Bad news for Russia for a long time also.

 

[napper39]

1.86 here in kansas still droping ever day.:yikes: and cold as hell

 

[mtbear]

$2.33 here in Walsenburg.
mtbear