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NJHalo

Gas Prices

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Just wait till the North Atlantic gets their Frack on.  

 

Anyone think it would be quite hilarious if the prices continue to go down, and the oil companies start hemoragging money and ask for a bailout?  

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The Saudis announced that they weren't going to cut production a couple days ago. Prices aren't going up anytime soon. I think there is a bit of a Saudi power play here. They can pull oil out of the ground cheaper than anyone on the planet. So they get to squeeze Iran, Russia and the US fracking boom at the same time.

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The Saudis announced that they weren't going to cut production a couple days ago. Prices aren't going up anytime soon. I think there is a bit of a Saudi power play here. They can pull oil out of the ground cheaper than anyone on the planet. So they get to squeeze Iran, Russia and the US fracking boom at the same time.

 

Playing the conspiracy card here.  But could this Saudi move be aimed at hurting ISIS?  ISIS gets most of their money from blackmarket oil.  If oil is so cheap that it makes the blackmarket not worth it, wouldn't it help the fight against them?  

 

But more in line with probably reality.  US is about to start exporting oil.  The three largest consumers of oil are China, Japan and the United States.  83%ish of oil imported into Japan comes from the middle east, 33% from Saudi Arabia.  Saudi Arabia might be feeling the heat from the US and is trying to protect their export market.  Remember that Russia is also a player with their pipeline to the East.  

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Gas prices are purely the product of gouging. Taking supply and demand into account, price gases should be about 2 dollars a gallon in California. 

 

Impossible with all the damn taxes that CA puts on gas.  Something like 71 cents per gallon.  National average is 50 cents.  In Texas it's 38 cents.  

Edited by gotbeer

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Gas prices are purely the product of gouging. Taking supply and demand into account, price gases should be about 2 dollars a gallon in California. 

 

Ha ha, you have absolutely zero idea what you are talking about. 

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Ha ha, you have absolutely zero idea what you are talking about. 

Gas prices are arbitrary as oil companies can construct whatever pricing schemes they want. Despite claims to the contrary, oil is ubiquitous and essentially limitless. 

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