Oil and Gasoline futures are testing some lower limits

[thevoiceofreason]

WTI (next month) is trading at $86.58, the lowest since December 2012.

RBOB Gasoline futures are trading at $2.3038 per gallon, the lowest since November 2010.

There is not a lot of room left between these trading prices and the levels needed to maintain the economics on new drilling.

This could prove interesting.

[ffr]

1. All the more reason to conserve fuel and buy hybrids and electric cars

Make them feel the burn they've been putting us through all our lives!

[thelordofhell]

2. Looks like it's time for some refineries to "accidentally" blow up

Gotta get that price back up..........

[white cloud]

3. Perry does not care about supply, demand and price at the pump.

Perry seeks unlimited natural gas and oil exports

http://fuelfix.com/blog/2014/10/08/perry-seeks-unlimited-natural-gas-and-oil-exports/

[DhhD]

4. Our residential Natural Gas average billing (averaged out over the 12 month period) has already

doubled since last year. Perry is not working for Texans. He is working for Oil and Gas Profiteers instead of We The People. Working Americans have returned to the days of the Robber Barons. I believe that Rick Perry has promised them our blood, as we are already paying their taxes and giving them a tax return for paying no taxes, in this country. Rick Perry, another sorry excuse for a politician, thinks he has the integrity to be a leader of Working Americans.

[thevoiceofreason]

5. Residential Gas prices

Are regulated. They are set by agreement by your local municipality (if it is large enough). Absent such agreement (e.g., the Houston City Council routinely says no to Centerpoint rate increase requests), the matter goes to the Texas Railroad Commission, which has the final say. Guess who some of the biggest contributors are to Texas Railroad Commissioners? You got it - the local distribution companies seeking such rate increases. That's why we need to elect Steve Brown.

[DhhD]

6. Democrat Steve Brown Running for TX Railroad Commissioner

We need Steve Brown to help get the 100% increase in cost back down in Northeast Tarrant county and everywhere else too. Is there a State rate map? There is proabably a correlation between Red Counties and Blue Counties. Every voter should be told on the bill how the rate increase or decrease came about every time there is a change. Calling the Atmos does no good.

http://geology.com/articles/natural-gas-prices/
There is a map of Texas via link found on left side of web page.

http://www.texastribune.org/2013/11/08/steve-brown-run-railroad-commissioner/
The 2014 race for the Texas Railroad Commission now includes a Democrat.

[thevoiceofreason]

7. Tuesday, October 14 - Gasoline futures at $2.20/gal

At these prices, consumers really get a boost. If WTI, now in the $84 and change range, drops much more, we may see some effects on next year's drilling schedules.