(800) 853-2651
SHOP NOW

$5 gas by end of 2016

G

GeneMO

Well-known Member
Location
Pilot Grove, Mo.
That is what those in the know are predicting. Something like 75 rigs shut down this year, and it is going to head up the other way.

Might be glad we bought that little Hyundai. It has been getting 41mpg on interstate.

Gene
 
Thats 75 rigs shut down this week, 650 so far since october, not counting offshore, gas won't be $5.00 anytime soon but at some future time demand will pick up. Long term, if the US poulace wants cheaper fuel they are going to have to shut down the governement interference, roughly 30% of the total cost to get a gallon of gas in your tank is due to various regulations, from lease to filling station, that is before federal and state tax. The so called ''greedy'' oil companies make substantially less money profit per gallon of fuel than the government takes in tax, but hey, all the oil companies do is directly and indirectly employ or provide employment to millions of people and generate untold billions of dollars in economic activity and growth.
 
Not expecting any significant change in the foreseeable future unless the economy explodes, and I'm certainly not expecting that.

Dean
 
"f the US poulace wants cheaper fuel they are going to have to shut down the governement interference...."

Bingo!

Dean
 
I read the article too and it stated no actual facts and the guy that is predicting it also predicted that it would happen in 2012 and it never did. Screw him it's all BS. Didn't you catch the part that he is retired oil and now trying to push his natural gas investments by scaring people into thinking that oil is going to go crazy high so they had better switch to Nat. Gas now so they can start lining his pockets immediately!
 
Others "in the know" say we'll never see oil over 80 bucks a barrel again in our lifetimes. Kind of like the prognostications you see for gold and silver prices- they're all over the board, so pick one you like, and go with it.
 
allegedly ISIS is selling oil for $25 a barrel. if thats true oil will stay low. they would be able to destabilize govs dependent on oil money.
 
I took my largest solar panel, put it on the hood of the tractor and hooked the wires up to the injector pump. It wouldn't even grunt.

Guess I'll have to try a windmill next.

Those claiming we need to convert to solar and wind left out the part on how to get the tractor to go on the stuff. :cry:

Gene
 
What model Hyundai do you have ?
My Daughter bought an Elantra last summer and I think she really likes it. Claims it does about that good MPG too. But I doubt she pencils it out.
 

Why don't we wait until 2016 to see what the gas price will be. There's no sense getting exited about it now. There's nothing we can do to change the future.
 
(quoted from post at 12:18:48 01/20/15) That is what those in the know are predicting. Something like 75 rigs shut down this year, and it is going to head up the other way.

Might be glad we bought that little Hyundai. It has been getting 41mpg on interstate.

Gene
Click to expand...

They may be right but if they are it was just a lucky guess. A couple of years ago someone in the know predicted that gas would be $5 by Memorial day. In NEAR it never got to $4 and was lower by the 4th of July. I changed my driving habits 5 years ago and don't drive any more than necessary and fill up when I need it. I no longer look at the price. At the highest, it took $107 to fill my daily driver truck and now I can fill up for less than $50 but I don't know the price per gallon.
 
Yes, the rigs are shut down, but... THEY CAN BE RESTARTED AT ANY TIME.

That's what these fearmongers and doomsayers never mention. If oil starts going up again, some speculator will cough up the money to put these rigs back in operation.

Anybody can say whatever they think is going to happen, but they stand at best a 50/50 chance of being right.
 
I was just reading an article in the WSJ about the biggest oil trading firms in the world. None is sure about the direction of oil prices.
Number of oil rigs drilling in the USA is public information and released every Friday.
 
The gubberment says gas will average 2.33 for 2015 and 2.74 in 2016. No one knows for sure but these are more realistic numbers than 5.00 in 2016. Oil companies are pulling back production rapidly but they can quickly re-activate wells & pumps, drill rigs that are shutdown. Supply & demand economics are at work 24/7.
 
Yea I don't remember anyone predicting $2 gal gas and $45 a barrel oil a year ago.Sort of like the weather keep calling for rain,snow,clear take your pick sooner or later you'll be right.
 
Might be $.20 a gallon by next year...Who knows. Do not trust anyone who says they KNOW the future. A good friend is the CEO of a large local gas station chain. His family has made millions upon millions in the business. He tells me there is no way of knowing for certain what gas prices will be more that 6 to 8 weeks out. May go UP, may go down. No evidence that indicates either to be more likely.

Just be thankful it's down now. No one saw this coming.
 
I hope you are almost right. If oil
gets any cheaper, will shut this
down. Bad for my economy! Vic
a179916.jpg
 
I think our government is doing this deliberately. They want the price of gas low so they can shove a gas tax increase up our noses. My state government has already started to discuss an increase in the gas tax because the price is so low right now.
 
Tennessee doesn't have a state income tax, didn't have a lottery either. To
get the lottery required a constitutional convention. I've heard some one
at the constitutional convention said the words "State Income Tax", from
what I hear in a matter of hours recall petitions were being filed and
protests starting at the state capital. Tennesseans got their lottery and
didn't get an income tax, amazing how that works. If your state decides to
try to raise the gas tax follow Tennessee's lead and inform your state
legislature they'll be out of work if it happens
 
This might upset that $5 pot

https://chiefio.wordpress.com/2014/12/16/gas-to-gasoline-at-1gallon-call-it-25-cents-liter/
 

You guys must have missed the real reason crude oil prices have dropped so dramatically. What I read a week ago is that Saudi Arabia is pumping oil like mad to drive down the price of crude. The increase in oil production in the U.S from fracking and oil production in other country's has reduced their market share. They flooded the market to run other country's out of the oil business, for now that is. The big guess is how long Saudi Arabia can keep this up. What will hurt U.S companies, and the other countries mentioned above, is that they will still have to service their debt. And they can't do that on oil that is priced below their profit margin. They will have to go out of business and file for bankruptcy. Just hope that they, the U.S oil companies don't come crying for a bailout.
 
Well, while traveling home from work tonight, I did hear on the radio news the name of an American oil company that did just announce today that they were laying off a certain percentage of their employees that comes out to be something like 7,000 because of the low oil prices. It happens. We get sick of high oil prices from allied middle east OPEC countries that are not our allies and actually hate us, and the prices dip to low enough levels that we give up, beg "Uncle, uncle, uncle. Please raise the prices and give the money to terrorists to use against us...", and then 30 or 40 years later we go through it all over again.

OOOOPS!!! I just did an internet search for "American oil company announces layoffs" to see which company it was, and lost count. Seems all oil related companies operating in America are laying off. Sun Oil, BP, and the list and layoffs are plenty. Unfriendly OPEC countries win again.

Mark
 
None of us have any idea, the best hedge against price increases is for US to build oil infrastructure, increase conservation and find alternate energy sources.
 
(quoted from post at 02:44:56 01/21/15) None of us have any idea, the best hedge against price increases is for US to build oil infrastructure, increase conservation and find alternate energy sources.
Click to expand...

That's what the U.S has been doing, and that's why Saudi Arabia started pumping. The other countries that are part of OPEC are really crying. Most of their GDP is dependent on their oil sales. Now these countries are going broke. There's going to be hell to pay when the people in these countries start to go hungry. Invest in canned goods and shotgun shells. :(
 
Interesting.....
I heard on the news earlier today the nationwide average has dropped below $2.00, and expected to stay there all year.
 
You heard wrong, Saudi Arabia is only producing around 9.5 million BPD equivalent, about 10% less than there 15 year average and roughly 75% of available capacity. Saudi Arabia still has the lowest lift cost in the world, they don't have any ''debt'' to service and they can maintain their welfare state on $20 oil. The real reason crude prices have dropped is because th US oil industry is the most efficient and productive in the world and demand has dropped because the world economy is basically in shambles, the US economy has been artificially propped up by QE and the results of the discontinuation of same is soon coming home to roost.
 
You are correct, oils are taxed per gallon, so price makes no difference on taxes collected, but conservation reduces taxes collected.
 
I work for a small company(less than 50 drivers)
hauling frac sand. Work for a large drilling/
completion company. We just took a 20% rate cut.
The drilling company is slashing their operations.
Because they like us(We kiss their donkey) we will still have work enough to be busy. There are many
gas wells left to frac. It would not take long for
the drilling/completion companies to resume their
operations back to 100% once this turns around.
Best guess I have heard is $85/barrel by fall.
 
(quoted from post at 14:04:30 01/20/15) Thats 75 rigs shut down this week, 650 so far since october, not counting offshore, gas won't be $5.00 anytime soon but at some future time demand will pick up. Long term, if the US poulace wants cheaper fuel they are going to have to shut down the governement interference, roughly 30% of the total cost to get a gallon of gas in your tank is due to various regulations, from lease to filling station, that is before federal and state tax. The so called ''greedy'' oil companies make substantially less money profit per gallon of fuel than the government takes in tax, but hey, all the oil companies do is directly and indirectly employ or provide employment to millions of people and generate untold billions of dollars in economic activity and growth.
Click to expand...

Excellent point. The oil companies are supposed to be greedy bad actors making their 9 to 13 cents a gallon profit off their multi-billion dollar investments. Meanwhile, in NYS the gov't, State, Co and Feds) make 70 cents on every gallon with ZERO investment.

When did we change the definition of "greedy"???
 
(quoted from post at 11:22:44 01/20/15)
Why don't we wait until 2016 to see what the gas price will be. There's no sense getting exited about it now. There's nothing we can do to change the future.
Click to expand...

That is as defeatist as you can get. "Wait and see" is the single biggest destroyer of societies.
 
Last year it was costing me $20.oo a day to go to work at 33 miles each way. NOW I can drive amost four days on the same money! Gotta love it.
 

Where did you get your information? You may have misunderstood my posting. I stated that U.S oil companies, and other countries have debt to service. Not Saudi Arabia. What is your idea of why the crude oil price has dropped so dramatically?
 
(quoted from post at 14:14:57 01/21/15)
(quoted from post at 11:22:44 01/20/15)
Why don't we wait until 2016 to see what the gas price will be. There's no sense getting exited about it now. There's nothing we can do to change the future.
Click to expand...

That is as defeatist as you can get. "Wait and see" is the single biggest destroyer of societies.
Click to expand...

Okay.what do you propose this nation should do about it. Don't criticize unless you have an alternative idea.
 
That equates to 6 gals per day, at 11 mpg. Why didn't you get a commuter car that gets 30mpg and spend 28 a week on gas instead of $80? Easy way to give yourself a 200 a month raise.
Park that gas guzzler.
 
(quoted from post at 10:14:30 01/21/15)
(quoted from post at 14:14:57 01/21/15)
(quoted from post at 11:22:44 01/20/15)
Why don't we wait until 2016 to see what the gas price will be. There's no sense getting exited about it now. There's nothing we can do to change the future.
Click to expand...

That is as defeatist as you can get. "Wait and see" is the single biggest destroyer of societies.
Click to expand...

Okay.what do you propose this nation should do about it. Don't criticize unless you have an alternative idea.
Click to expand...

Dude, this is the internet. You don't have to have ideas. Just a keyboard and a willingness to rant, usually about "the good old days" Ya know, back when everything was run by old white protestant guys. Women were barefoot and pregnant, and everybody walked to school, uphill both ways. Slaves were nice too, I guess. The only change most of these guys can accept is when they assume room temperature.
 
You must log in or register to reply here.

Similar threads

super99
Disappointing afternoon
Replies
10
Views
2K
Tgrasher
Tgrasher
S
1100 MF Engine Knock
Replies
6
Views
357
Southman
S
G
IH 560 that locks in gear when front end loader full
Replies
8
Views
277
Jim in LA
J
stevieb49829
Update on a couple of related things
Replies
0
Views
524
stevieb49829
stevieb49829
N
2016 825i Starting sequence issues
Replies
2
Views
419
nonprod
N
Tractor Parts Tractor Manuals

We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today.

Copyright © 1997-2024 Yesterday's Tractor Co.

All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.

Yesterday's Tractors - Antique Tractor Headquarters
Website Accessibility Policy

Back
Top