Posted by LAA on January 20, 2015 at 09:04:30 from (217.175.64.196):
In Reply to: $5 gas by end of 2016 posted by GeneMO on January 20, 2015 at 08:18:48:
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.
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