Gas Prices

[gotbeer]

11 minutes ago, fan_since79 said:

Oil is trading now at MINUS $1.43 a barrel.

How is that possible?!

Obviously I don't understand what the hell is going on.

Hopefully it means that gas stations will pay me to take their gas.

Oh, and in before the oil companies say they need a bailout.

[fan_since79]

West Texas Intermediate, latest quote

Crude Oil May 20 (CL=F)

NY Mercantile - NY Mercantile Delayed Price. Currency in USD

-28.0000-46.2700 (-253.26%)

As of 2:35PM EDT. Market open.

[Lhalo]

Mind blowing.

[Redondo]

It's bizarre

[Brandon]

Probably still $4 at the pump. Like how the Fed cut the rate, but banks still held their margins.

[fan_since79]

1 hour ago, Lhalo said:

Mind blowing.

This is a snapshot of the state of the economy. Growth has stopped dead in its tracks. We may see a negative 30% GDP and historic unemployment. Great Depression 2.0. 

Fauci and others are talking about the need to mitigate until the entire country is tested and/or a vaccine is developed. So, unless our leaders get control of this shutdown madness, we're talking Dow at 5,000, unemployment at 30-40%, and general misery for years to come. Sure, gas will be very cheap but there will be no place to drive to, no job to go to, not even a church to attend as they continue to ban gatherings of more than 5 people. 

End the madness as soon as possible, for the survival of our nation.

[Vegas Halo Fan]

Just paid $2.20 for unleaded at the 7 Eleven near the house (Sinclair gasoline). Lowest I have seen it in a very long time.

[Tank]

6 hours ago, Lhalo said:

WOW

 

all that aside, why is oil described as "sweet"? who was tasked with finding that out?

[St1ck]

4 minutes ago, Tank said:

all that aside, why is oil described as "sweet"? who was tasked with finding that out?

This guy.

[Lhalo]

4 hours ago, st1ckboy said:

This guy.

That sweater is pimp AF. I’m mesmerized by it every time I watch that flick. That and Johnny Greenwood’s score. 

[fan_since79]

At some stations in Wisconsin gas in under a dollar now.

We'll never get that low in California with all the exorbitant taxes the Dems in Sacramento have burdened us with. We'll be lucky to get under $2.

[Redondo]

$1.69 here today

[Angel Oracle]

21 hours ago, Brandon said:

Probably still $4 at the pump. Like how the Fed cut the rate, but banks still held their margins.

Even Huntington Beach had a couple of Mobil stations selling at around $2.50-$2.60.  

[Angel Oracle]

21 hours ago, fan_since79 said:

This is a snapshot of the state of the economy. Growth has stopped dead in its tracks. We may see a negative 30% GDP and historic unemployment. Great Depression 2.0. 

Fauci and others are talking about the need to mitigate until the entire country is tested and/or a vaccine is developed. So, unless our leaders get control of this shutdown madness, we're talking Dow at 5,000, unemployment at 30-40%, and general misery for years to come. Sure, gas will be very cheap but there will be no place to drive to, no job to go to, not even a church to attend as they continue to ban gatherings of more than 5 people. 

End the madness as soon as possible, for the survival of our nation.

A question I have been asking people is:

Which is the worst scenario?    Gradually opening things up come May 1 (like having every other table occupied in restaurants), and see what happens with the weather warming up?   Or stay mainly shut down for a year, and have a Great Depression of our minds/health and money wise, which in turn could lead to a lot of deaths in its' own right?     Problem is, both sides only see it their way, and no fair compromise seems possible.

Does Dr. Fauci really think the ENTIRE country needs to be tested?    He is well respected, but can't we get a good feel for things if even 1/4 of the country (throughout the 50 states) is tested?

Edited April 21, 2020 by Angel Oracle

[Tank]

27 minutes ago, Angel Oracle said:

A question I have been asking people is:

Which is the worst scenario?    Gradually opening things up come May 1 (like having every other table occupied in restaurants), and see what happens with the weather warming up?   Or stay mainly shut down for a year, and have a Great Depression of our minds/health and money wise, which in turn could lead to a lot of deaths in its' own right?     Problem is, both sides only see it their way, and no fair compromise seems possible.

Does Dr. Fauci really think the ENTIRE country needs to be tested?    He is well respected, but can't we get a good feel for things if even 1/4 of the country (throughout the 50 states) is tested?

open up gradually. continue to practice necessary precautions. plenty of spacing in public places still.

if you suddenly opened up disneyland tomorrow it'd either have 1000 people or a million. not sure either one would be good.

i'm hopeful that because of going through this that business will start making things more sanitary for us (doorknobs, handrails, disposable menus, etc) and that each of us will be more observant about practicing good public hygiene.

[Tank]

gas at my local ARCO was at 2.99 sunday.

[fan_since79]

As we gradually open up and have people coming a little closer to each other, we could get some "herd immunity" going where some people will actually get sick, then recover. The USC study they're talking about in the news says that as many as 400,000 residents of L.A. County probably already had the virus in the late Fall and first couple months of 2020. If that's true then the fatality rate for this thing is very, very small.

The more that all of us are shut up in our houses, the less chance we have for herd immunity from widespread exposure.

Yes, some people mostly with pre-existing serious conditions will die, but isn't that the case with the flu and with bacterial and viral infections of all sorts? My aunt died of the flu at the age of 49 with very serious diabetes underlying before she got sick. Many elderly people who are already health-compromised get infections which end up weakening them and later contributing to their deaths. They may have multiple bouts with these infections over a course of time before they finally pass on. UTI's, MRSA, bacterial pneumonia, etc...and COVID-19 is just one of them.

We don't shut the entire country down forever because of these infections that have been with us for many decades. We don't shut down when 60,000 people die of the flu each year.

Open up in gradual stages, and don't rush it. Test, test, test as many people as possible and keep track of the new cases. If we get a spike. shut down again for a time and reevaluate. But please, don't keep us holed up at home and out of work completely for 12 months, 18 months, 2 years, 3 years, or whatever time before every single American is tested and an effective vaccine is administered to all. We won't have a country or economy to return to if we let this go on forever.

[yk9001]

22 hours ago, Tank said:

gas at my local ARCO was at 2.99 sunday.

I saw an arco in Long Beach at $2.36 yesterday

 

$2.23 at costco this morning

 

[Taylor]

With gas prices declining, I wonder if the price of electric cars will also decline. Might be a good time to trade in my remaining man card and get a Fiat 500e.

[gotbeer]

Lol.

Is It Worth It to Buy a Used Tanker and Fill It With Cheap Oil? An Investigation

[gotbeer]

9 minutes ago, Taylor said:

With gas prices declining, I wonder if the price of electric cars will also decline. Might be a good time to trade in my remaining man card and get a Fiat 500e.

I don't think it's a question of gas prices.  But more of a no one is driving, so no one is buying.  So yes, probably means that car prices are going down.  Because most dealerships don't own cars.  They finance those cars, and the longer it sits on the lot, the more they have to pay in interest.  

Coincidentally, I hear that used car prices are plummeting, so that may or may not have a relation to new cars.

[Redondo]

$1.63 here today

[gotbeer]

Filled up for $2.19 at the Costco in Azusa on Friday.  I feel ripped off because it's $2.09 there now.

[Redondo]

$1.61 here today

[Redondo]

$1.59 here today