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St. Louis, MO and I paid 3.05 for premium.
Not looking forward to returning to California’s good deals
 
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West Des Moines IA, all grades

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I imagine here in CA I'll be pushing $4 a gallon by July 4th. And if it stays there, the local economy will tank about 180 days later - just like last time.
 
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Discussion Starter · #25 ·
You need to keep inflation in mind. So more like 240 days. :wink
According to the FED, we haven't hardly had any inflation in years....they must not buy any groceries, gas, or do any home improvements, etc. like the rest of us....of course, all the FED Governors are stupid rich so they don't care anyway....ah well, so it goes.
 

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Discussion Starter · #26 ·
I imagine here in CA I'll be pushing $4 a gallon by July 4th. And if it stays there, the local economy will tank about 180 days later - just like last time.
I sure hope not. No economies tanking for you young man.
 

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Might sound like the odd man out here... The higher the fuel prices got in OK the better my paycheck looked... We are in a way rural agri/petrochemical driven economy here. When segments of Trans/Canada pipeline came through, it was total manna from the heavens.. Every morning when I arrived at work, lines of oil field guys were waiting to leave all the stuff they had totally ripped the front ends out from under. Even though I am a GM guy we were doing tons of Fords and Dodges... In our little area I am more blessed with shop size than the other guys and we got to be known as the spot that could get those oilfield folks back on the road soonest... Highest price I ever witnessed on regular fuel in my area was 3.99. Funny thing is, none of the techs where belly-aching over it. I know I am in the small percent, but dang!!! Kinda miss that 4 dollar gas.
 

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Saw a good Yahoo comment the other day about how Obama flooded the market with oil and crashed the price to keep Big Oil in check and that prices are up again because they're not afraid of a Republican President. Good stuff. At least they understand supply and demand even if they are clueless about everything else.

I could read those comments all day long for entertainment purposes.
 

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Discussion Starter · #30 · (Edited)
^^^Talk about messed up news. President Obama had nothing to do with flooding the market with oil or manipulating the price. It was nothing more than the big oil producing Countries pumping oil like mad in an attempt to gain market share. The more product, the lower the price. Its supply and demand 101. That said, I was going through past weekly EIA petroleum status reports to see where we're at compared to 12 and 24 months ago. And the current supply, excluding the Strategic Oil Reserve, is in fact lower than it was a year ago by about 90 million barrels give or take. The bizarre part is that everyone seems to be pumping roughly the same amount. So that tells me the demand is way up; probably because the Unemployment rate has come down so much and many more people are working. Plus, once oil gets over $50.00/brl, the Shale Producers come back online and start adding to the supply. Then throw in the Investors placing a bid under the price of oil and here we are. But rest assured, President Obama had nothing to do with the price of oil. And just so you know, I'm about as anti-Obama as they get. But the facts are the facts regardless of who is President. What we need now is for Saudi Arabia and Russia to get mad at each other and start pumping like lunatics again to bring on more supply and drive the price down again. But fat chance of that happening anytime soon. Plus if the President takes a hard line on Iran tomorrow, look for a spike in the price of oil. Even though Iran's output isn't anywhere near what the other twos is/are (whatever, you get the point), it'll be an excuse to run the price up even more. We'll see.
 

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Discussion Starter · #32 ·
Right, it wasn't news at all. It was a moron commenting on a Yahoo article. It never ceases to amaze me how little people know about where the energy that drives their entire way of life even comes from.
Ah. Yes, whoever said that is definitely a dope....
 

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I have worked oil field related jobs for years and I do like to see us oil companies make a profit but 4 dollar gas is extreme and it puts a burden on other businesses,Obama did tax the us oil companies when a barrel of oil was $25 i could say a lot more but I'm not going to
 

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Obama didn't do a **** thing to flood the market with oil though. That was the Saudis and US shale producers. The SPR is insignificant and barely even moves the needle from a global supply perspective. Any release into the market would be quickly balanced and absorbed. That was my point.

There is no doubt that Obama wasn't friends with the industry, but his influence on the commodity markets was minimal at best.

Also, I agree that $4 gas is bad for both the industry and the economy. At that price you see demand destruction which is obviously bad long term unless you're an environmentalist. $2.50ish is ideal with oil in the $60-$70 range.
 

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$25 dollar oil and he taxed us oil companies enough said
 

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I have worked oil field related jobs for years and I do like to see us oil companies make a profit but 4 dollar gas is extreme and it puts a burden on other businesses,Obama did tax the us oil companies when a barrel of oil was $25 i could say a lot more but I'm not going to
Didn't mean to sound trite. I realize that high fuel prices are way painful for lots of our members, especially burning the high test stuff.. Fuel prices low?? My service traffic wanes terribly. East and west coasts have a different reality. When they are "low" (Mom lives in OC, CA and seems like she is always paying a dollar more for reg than I pay for premiu), We "petro" states suffer. Sooo its all subjective. Its a where-you-are question. Largely, I think most of the nation benefits by lower fuel prices. Food prices and on-and-on. Just am starting to see sooo many people back in the work force in my area.. 70 bucks a barrel really has really got some people back on the job. My family is a definitely dependent on this industry.. Were it up to me, there would be a Cruze SS available with an LS3...Wait!! Is that what we were duped into...???
 
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There's a balance where the price is good for the industry and the overall economy. Unfortunately, that's not how the market works. It's boom and bust over and over and over. Always has been, always will be.

Oil price high? Producers drill and pump full tilt until the price crashes...cut production because of low prices...price corrects itself and slowly creeps back up as supply dwindles.

Gasoline price high? Refiners run full tilt until the price crashes....cut production because of low prices...price corrects itself and slowly creeps back up as supply dwindles.

And round and round we go.
 
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