OK gas hit $1.99 a gallon in NJ today

[DainBramaged]

http://www.newjerseygasprices.com/

And it was $2.199 when I filled up last night ($19.50) three months ago it would have cost $50. Oh yeah for disposable income.

Crude is $63.95 so oil is well today.

[HysteryDiagnosis]

1. Only thing missing is a photo of McCain twisting some Saudi

billionaire's arm.

[DainBramaged]

2. Drill baby drill

www.palinaspresident.us

[geckosfeet]

3. Personally, I think O's talk about alternative energy development,

along with dropping demand because of collapsing economies worldwide is causing OPEC to cut back on production and price.

I also think that hedge fund managers who bought credit default swaps pushed the price of oil up by relentlessly bidding on futures. They did this in order to push sub-prime mortgage homeowners over the edge so that they could cash in on the default swap policies..
:tinfoilhat:

[DainBramaged]

5. I agree, buy up the defaulted properties and wait

The uber-rich have the money to wait out the financial crisis.

[jeff30997]

4. I don't have a car but...

Gas price as gone down here too.I don't believe in coincidences.

[TahitiNut]

6. It's $2.15 in my neighborhood, but as low as $1.97 in the Detroit area.

http://www.detroitgasprices.com/index.aspx?s=Y&fuel=A&area=Madison%20Hts&area=Royal%20Oak&station=All%20Stations&tme_limit=24

[Edweird]

7. So what happened to "peak oil"? There was much screaching

coming from some of the same people that are now asserting that 'meat causes global warming'.
What is their position on the new low prices?
What is their position on the decision by OPEC to decrease production because prices are getting TOO LOW?

[DainBramaged]

9. We will probably find out what happened after Obama takes over in January

1-20-09 end of an error.

[Edweird]

11. I am reasonably confident that the high gas prices were nothing more

than profiteering by WH cronies. I find it too much of a coincidence that right after a bunch of "oil people" enter the WH gas prices are suddenly "artificially low". They were screwing us, and many here were cheering it on while attempting to further their own agenda. Now it's gone from "peak oil" to "peak beef" :eyes:
Too much unnecessary drama, IMHO.

[DainBramaged]

12. I wonder when it goes to peak beer?

[Edweird]

15. Eventually, I'm sure. "Beer drinkers generate more methane......"

"Do you know how much grain is used in the production....."
"Beer production uses 'X' amount of water....."
"It's for your own good...."
"I stopped drinking beer 'X' number of years ago and never looked back...."
"You'll live longer...." (Like that's any kind of motivation!)

On and on and on, whining shrilly like a chorus of 747's.....

But, interestingly enough, bring up *smoking* and people that are *so* concerned about your health and your 'selfish choices' that somehow eventually affect them and 'the world' suddenly become very self righteous about their own 'personal choices'. How dare YOU suggest THAT!

[DainBramaged]

16. I just hide the threads, I am tired of people trying to make us feel guilty

[Edweird]

17. While the zealotry and hypocrisy can be maddening, I feel it's important

to stand up and not them bully everybody into conformity. I am a solid Dem. Unshakably. I am also a gun, pit bull and 4X4 Suburban owning, red meat eating, Florida residing, 'wild man'.

I enjoy giving the finger to those that feel that hating guns, trucks, pit bulls, Florida, red meat, etc. makes them morally or otherwise superior. Or that it is a requirement for admission to the Left, or to post here.

[DainBramaged]

25. You are speaking to the original oscillating spiked flaming dildo of DU, what requirements?

:hi:

[SlicerDicer-]

21. Peak Oil is still there

Just keep in mind the usage of oil is way down right now from what it was. EIA should be able to give figures if you go there. Thus leading to less demand and less need for oil at the moment.

We still are producing oil faster than finding. Army Corps has a decent paper on this.

http://stinet.dtic.mil/cgi-bin/GetTRDoc?AD=A440265&Location

Enjoy :)

[Edweird]

24. "usage of oil is way down right now from what it was" Really?

How's that? I changed jobs, so my commute (on my motorcycle!) is now 20 miles each way instead of 25. Big whoop. Plus I've been dating manically, and that uses up lots of gas (and sucks the cash out of my bank account). Did everybody else suddenly move that much closer to their jobs? So much so that it affected WORLDWIDE usage the the degree that it would have such an effect on prices? I think not. We were screwed by chimpy and crew, and now they are trying to pull a 'Hail Mary' to save their pathetic party. I believe they hope that normal gas prices right before the election would somehow gloss over everything else, including getting raped at the pump.....

[Strelnikov_]

27. Agreed. I also feel we may well start to see shortages early next year

Not from geologic peak, which has already occurred, but from a breakdown of the global financial system.

We are a nation that imports ~67% of our petroleum which represents 30% of the worlds petroleum export market. We are a nation that is running a $1T current accounts deficit. We are a nation that depends on a worldwide financial system anchored on the petrodollar to keep the imports coming.

The crash in prices is due to a fire sale to raise cash. I fully expect one of the effects of this fire sale to be rapidly rising prices/shortages at some point.

If the stories I am seeing about the worldwide tanker/shipping fleet and effects on new resource development are even half true, we are in for a hard landing.

[Edweird]

28. Um, I thought we were a NET EXPORTER......

[depakid]

30. The peak oil models predict major volatility

With large and rapid swings between peaks and troughs.

The key is to follow the moving average over time. If you do, you'll see the trend towrd every hogher prices is inexorable, and will worsen as oil exporting countries move down their depletion curves and hold back remaining supplies for domestic use.

[kestrel91316]

8. $2.71 in Tarzana (Los Angeles), CA yesterday.

[lelgt60]

10. This is only another temporary speculative change...

Speculators routinely push prices +- 50% around "true value". Happens to all the other commodities as well.

I figure long term "true value" of oil is around $100 right now, and will go on up as we come out of the recession.

But fear not, the introduction of the Chevy Volt is less than 2 years away. Obama will finally implement a bunch of real renewable energy programs.

By 2015 I predict $40 oil, if not lower.

[DainBramaged]

14. Hydrogen technology coming on line soon too.

[SlicerDicer-]

22. how do you figure?

It takes more energy to create 1 btu of Hydrogen than it does to produce 1 btu of Oil... Thus there is a energy loss when creating hydrogen. Explain how this solves anything please...

Hydrogen would be great if it actually was not so damn energy intensive to create it.

[depakid]

31. "By 2015 I predict $40 oil, if not lower."

And where's that $40 oil coming from?

[Cessna Invesco Palin]

13. I blame Bush.

Haven't you heard? Bush and the oil companies control everything! There's no such thing as economics! IT'S THE SHOCK DOCTRINE, MWAAAAAAAAGH! (Except when it's not obviously.)

[Lifetimedem]

18. In Western NY

it is still $2.99

[MANative]

19. We're at about $2.45 here in northern Fairfield Cty, CT

I'm breathing deep sighs of relief - at least for now - because my hubby was recently transferred to a new job location that doesn't allow him to take mass transit as his previous location did. Our peak price was $4.49.

[old mark]

20. It will go up again after the election, not as high as it was, but

up a bit.

If we keep using less, it will stay between $2 and $3 for a long time.
Better than $4, anyway.
mark

[JesterCS]

23. $1.85 SW ohio n/t

[shanti]

26. interesting...

how gas is so much lower in your part of the country....in a state that's up for grabs, while here in cali, it's still barely under $3 a gallon. :eyes:

[JesterCS]

29. Yeah

ive been wondering that myself. I figure after tuesday its going to skyrocket.