Why is gas so low!?

Okay, so we were all freaking out about the high gas prices this past summer (and even before), but how the heck are the prices now so low? I am starting to think that these prices are completely arbitrarily made up . Has there been a new bill passed, are we winning the war, what's really going on? I can't think of another reason about the low prices, can you? Here in my area (Yonkers, NY), gas is about $2.79 per gallon (in the summer it over $4.00 per gallon, right?). This is crazy (and great!).

Here's your answer. Feel free to do your own research on Lindsey Williams.

www.youtube.com...

i had heard that there had been large reserves found in some northern states, in Indonesia, also in upper regions of Russia, not to mention south american countries.

so peak oil was a scam, but now the big corps are attempting to bankrupt the middle east, because we know they are running low, and they tricked them into this scam of credit and finance so now these middle east countries have investments and with the incredible drop in oil prices they wont have the money they need to continue to live the way there were any longer.

also demand has droped in the U.S. but in china it will only go up up up

at least that is my impression

We've had $2.29 in some places here in Iowa, and getting lower.
For a start: Supply and demand. Demand goes down, supply goes up and prices go down.
Or perhaps Bush has actually gotten this right BEFORE everyone who wanted to go green? (Okay, so it's probably a little early for that to be said) We certainly have dropped from our reliance on foreign energy in the past year, even a little you must admit.

Alex Jones and all those so-called Bilderberg insiders said that at the '06 meeting I believe it was, they declared a plan for $200 a barrel oil. Well that obviously ain't happening, so how many other things are the Bilderberg insiders wrong about?

too funny guys in oklahoma it is at the most i mean at the most 1.99 a gallon.

wonder why the price is so different?

Okey, here's my take on it. Now follow my train of thought here. Before the elections went into high gear gas was high and everyone was calling for "Drill here, drill now." Right? That scared opec, that was the start in the drop on oil prices. Everyone who has half a brain knows that through back door means BO isn't getting all his money from here in the US, (If you believe he is, I've got a bridge to sell you) it's in opecs best intrest to get someone in who is strongly against drilling (obama) sure he's "said" he's for drilling now(lip service), but it won't ever happen, not as long as he's in. Since BO's been in the lead for this election oils been going down and the demand to "Drill here" has all but stopped. If (god help us) BO gets in I'll be willing to bet oil'll shoot straight back up. BO has already said that he has no problem with the American people paying over $5.00 a gallon for gas. Slam all you want, but when/if BO get's into office an oil starts going up, I'll be sitting here saying I told you so.

Gas is down because the Market Crashed and people are calling to bring the regulators back, so the speculators got out of dodge. It all goes back to Phil Gramm(McCains economic advisor) and a few other people essentially deregulating the Energy Futures market. It's what allowed Enron to buy up energy, diverty it, and make it look like there was huge demand. The speculators also drove up the price of oil.
If you look deeper you can find the connections, empower yourself and use your search engine.

reply to post by they see ALL


don't get too comfortable, opec doesn't like the low prices, they are wanting to cut production in order to raise prices again

Opec’s mettle will be tested next week when the cartel assembles in Vienna at a hastily convened meeting to discuss the economic crisis and whether the exporters’ club should take action to arrest the fall in the price of crude oil. Mounting alarm over the dwindling rent from oil sales prompted Opec yesterday to bring forward an emergency meeting scheduled for mid-November to next Friday.

Together the cartel members have lost about a billion dollars of revenue a day since crude price peaked in July. The benchmark US Light crude price fell $5 per barrel on the New York Nymex exchange yesterday to $69.15 (£40.05), less than half the value at oil’s peak, while London’s Brent crude futures contract fell to $65.70.

Evidence of rising oil stocks in America and weakening demand for energy in China’s mills and workshops has speeded up oil’s decline, but there is no agreement within the cartel over price strategy. Opec hawks, such as Iran and Venezuela, want to shore up the price by turning off the taps, but neither country can afford to cut output and forgo revenues. Both are failing even to produce at their agreed quotas because of weak investment in their oil industries, so the burden of any cut will fall on Kuwait and Saudi Arabia.

The Saudis would not like to see the price falling below $60 per barrel, a level at which most economists reckon the kingdom can support its profligate princes, the social security bills and invest in the oil industry. However, the Saudis will be listening to the grinding cogs of the slowing Asian industrial juggernaut with mounting concern. A deep recession might precipitate an oil price collapse

Source

I'm kind of surprised though about saudi arabia, they threatened to leave OPEC due to the fact that they didn't want to cut back production ....

so basically what i'm trying to say is the prices will sadly be going up again, i mean we don't want the oil exec's to lose some money....

btw i personally don't mind the $1.95/ gallon gas out by me definitely a relief from the $4+/ gallon prices, but i'm just being realistic

[edit on 3-11-2008 by baseball101]

I am starting to think that these prices are completely arbitrarily made up . Has there been a new bill passed, are we winning the war, what's really going on? I can't think of another reason about the low prices, can you?

reply to post by they see ALL


Hi All,

I don't think it is brain science. Nothing has happened other than 1) The world is in fanancial collapse and is still in free fall. How far this will go is anyones guess. Mine is short term, Feb. of '09, with a final turn around about 2012! (ever heard that date mentioned before?) People are scared and are conserving fuel. Less of that "consumin goin on out there" as they say.

And 2) People are driving less. If you haven't noticed this then you haven't been out on I80 or I5 (west coast). I have and can say that driving is down. Less driving means less petroleum consumption which causes prices to decrease. Or in this case drop drastically!

Petroleum prices may have been artificially high this summer due to market forces such as futures buying but that is over now and prices are responding correctly to fear and decreased demand.

A third factor that shouldn't be overlooked is that 2.8 trillion dollars disappeared in the recent market contracture or capitulation or collapse or whatever. That money just vanished, went away, gone! The result is deflation not inflation, and all comodity prices will fall including gold and silver.

So don't look for high gas prices for a long time in the future, IMHO!

And politicians (like Obama and the democrats) that thrive on high fuel prices are likely to be disappointed! Darn!

Maybe....

Obama is going to win, so the oil companys might want to start getting back in favor of the American Public now that all thier sugar daddy's are gonna be running for the deepest holes and biggest rocks they can hide under!

gas is only 1.99 a gallon in most places in Oklahoma. as far as OPEC goes guess what they have been cutting production with limited to no avail. last production cut was 1.5 mil. barrels a day and still the price dropped. the problem is recession. yes i said it, the "R" word. Think about how many industries are reliant on crude oil, then understand that MOST major manufacting companies are laying off and cutting production. the price of oil should stay for a bit or at least till the recession starts to ease up.

want to start getting back in favor of the American Public

reply to post by Kaiser Sohse


Nice thought but if he actually wins then the oil company's need to start cozying up to Obama and his Chicago buds that see things from the do it or die traditional Chicago way of doing things! It's well understood how Obama and his pals get things done! Nothing new about their mentality.

But it is "Change You Can Believe In" as we have not seen anything like it since prohibition! So cross your fingers and just HOPE!

$1.99!!!! Damn, I'm still paying $2.65 here in Central new york.


reply to post by LeaderOfProgress

I think all the speculators who thought market would keep going up,their futures came to past and had to unload them,but yes nice,I was in the High Desert yesterday saw 87 reg for 2.55 a gallon,I'm starting to drive my tank more

reply to post by they see ALL


It was a price rigging program, thats why it went from 55 dollars, to 140 a barrel in about 10 months, and back down in thirdy days or so gas went from 1.75 to 4.10 in 13 months more in some areas, i Posted on this subject early this year before gas started to raise to 2.95

reply to post by they see ALL
It is down to $1.85.9 here in Texas was at $1.82.9 week ago, I know I have cut way back on fuel over the last year or so, more than most, but most people I know even in this small town are cutting back, and there is now a boom in golfcart sales, thaye have been declared legale to drive on city streets here.

In response to the original question:

The prices are falling trough the floor simply because oil is in fact plentiful above and below ground with private, industrial and government stockpiles at two decade highs. The only thing that kept oil prices at levels above fifty dollars per barrel is massive speculation against it's price as well as continued stockpiling by private industry that figured out that the speculators can't be stopped. Now that the financial markets have gone to pieces these speculators have shifted their capitol to protect themselves thus giving us fifty dollars a barrel again. If OPEC and other oil producing nations produced to their current capacities without terrorist or environmental damage oil prices should fall to below thirty dollars a barrel and if the US either withdrew from Iraq or otherwise organized 'peace' there ( thus leading to capacity expansion) oil prices can temporarily fall to the ten - twenty dollar range before speculators and oil producing nations can again force prices up in their various ways.

Oil is going to be with us for at least a century to come and i would as always advise for better regulation of emissions rather than harping on the fact that solar and other renew ables just make far more economic and ecological sense.

Stellar

I love when the gas pices is down and you do not have to pay that much for just gas are people carzy to pay that much money for gas i would go off if i have a car i would buy a bike and ride all day long and unite it get late