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2013-06-05 Economy
OPEC Sweats: How Low Can Oil Prices Go?
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Posted by g(r)omgoru 2013-06-05 03:22|| E-Mail|| Front Page|| [6472 views ]  Top

#1 I don't see any sign of "low" oil prices at the pump. I paid $4.059/gal at Costco yesterday.
Posted by Spot 2013-06-05 07:42||   2013-06-05 07:42|| Front Page Top

#2 That's QE taking effect.
Posted by Procopius2k 2013-06-05 08:26||   2013-06-05 08:26|| Front Page Top

#3 I don't either, it's $3.20 here.
Posted by Redneck Jim 2013-06-05 08:42||   2013-06-05 08:42|| Front Page Top

#4 Michigan gas prices highest in continental U.S. One of the usual suspects is blamed.
Posted by Anguper Hupomosing9418 2013-06-05 08:56||   2013-06-05 08:56|| Front Page Top

#5 Don't forget all the taxes levied on the stuff. Not just at the pump, but through the whole process of extracting, transporting, cracking, distributing. A pound of flesh at every turn.
Posted by Procopius2k 2013-06-05 09:00||   2013-06-05 09:00|| Front Page Top

#6 The oil industry is absolutely the MOST heavily taxed industry in the country, and it is all passed along to the consumer.
Posted by Besoeker 2013-06-05 09:13||   2013-06-05 09:13|| Front Page Top

#7 Taxes are ALWAYS passed along to the consumer. Anyone who tells you anything else is a lying sack of crap.
Posted by Rob Crawford 2013-06-05 09:20||   2013-06-05 09:20|| Front Page Top

#8 One of the usual suspects is blamed.

I didn't read the article yet - would it be George W. Bush or Global Warming?
Posted by Raj 2013-06-05 09:21||   2013-06-05 09:21|| Front Page Top

#9 > Taxes are ALWAYS passed along to the consumer.

Actually if you tax the rental/unimproved value of land then the tax cannot be passed on.

It's Ricardo's law of rent (the rent will be set at the maximum the market can stand and taxing it will not reduce that figure).
Posted by Bright Pebbles 2013-06-05 09:26||   2013-06-05 09:26|| Front Page Top

#10 A company WILL somehow charge enough for it's product/service to pay expenses in order to stay alive as an entity. Make expenses or die.
Posted by tipover 2013-06-05 10:34||   2013-06-05 10:34|| Front Page Top

#11 Watch for the bottom to drop out of oil once the EVs (electric vehicles) hit the road.
Posted by Spaimp Turkeyneck3830 2013-06-05 10:58||   2013-06-05 10:58|| Front Page Top

#12 They hit the road several years ago. Many more on the road just this year in CA.
Govt's reaction was to raise the gas tax cause we aren't buying enough.
Posted by Sum Dum Guy 2013-06-05 11:36||   2013-06-05 11:36|| Front Page Top

#13 They were warned to find new ways to support themselves.
Posted by Newc 2013-06-05 12:59||   2013-06-05 12:59|| Front Page Top

#14 
Watch for the bottom to drop out of oil once the EVs (electric vehicles) hit the road.


Meh. They still need lube, power, and plastics.
Posted by Rob Crawford 2013-06-05 13:17||   2013-06-05 13:17|| Front Page Top

#15 Let's find out how stable these OPEC countries are without a continuous infusion of megabucks. I'm betting on "not very".
Posted by Muggsey Mussolini 2013-06-05 13:42||   2013-06-05 13:42|| Front Page Top

#16 $90+ a barrel is low? I remember during the late 1990s Asian Financial Crisis when oil hit about $10 a barrel. 15 years later $90 is the new $10.
Posted by dk70 the scantily clad 2013-06-05 16:32||   2013-06-05 16:32|| Front Page Top

#17 Many years ago, but at $10. per barrel nearly all the wells stopped pumping as I recall.
Posted by Besoeker 2013-06-05 16:41||   2013-06-05 16:41|| Front Page Top

#18 #14
Watch for the bottom to drop out of oil once the EVs (electric vehicles) hit the road.

Recently on a trip through the Bay Area and saw that the dozen charging stations in front of Solyndra had no waiting line... And they really have reduced traffic on the highway because the parking lots were completely empty... Guess they all rode their unicorns to work.
Posted by Capsu78 2013-06-05 18:59||   2013-06-05 18:59|| Front Page Top

#19 Regular gas this afternoon rose to a price 10 cents/gal over diesel. First time this has happened in a great many years.
Posted by Anguper Hupomosing9418 2013-06-05 19:09||   2013-06-05 19:09|| Front Page Top

#20 $4.05 in the Cinncinnati area today...was $3.65 two days ago. Wait until the word on the XL pipeline comes out this month...oy vey they say.
Posted by Mugsy Glink 2013-06-05 19:29||   2013-06-05 19:29|| Front Page Top

#21 "How Low Can Oil Prices Go?"

Not low enough ....
Posted by Barbara 2013-06-05 19:40||   2013-06-05 19:40|| Front Page Top

#22 Southwest of chicago gas is 440.9. Up ,40 cents a gallon, just today!!? Prices down??? WTF
Posted by illeagle  2013-06-05 22:24||   2013-06-05 22:24|| Front Page Top

#23 We have anywhere from $3.57 to $3.99 in the Pac NW north of Seattlestan; and about 4 miles from the Anacortes refinery. The one that is getting 6-100+car unit trains of Bakken Shale crude weekly. These prices were @ 2 stations about 4 miles apart ( the low one is on the Indian Reservation, heve had a sweetheart deal w/ the Donk govner that cuts their taxes. many (including me) fill up there in protest to the high taxes for worthless public art and other feel good crap. ( including non-standing bridges). does this make me a bad person?
Posted by USN,Ret. 2013-06-05 23:28||   2013-06-05 23:28|| Front Page Top

23:44 Skidmark
23:28 USN,Ret.
22:53 JohnQC
22:50 Otto Flenter6546
22:38 Otto Flenter6546
22:36 Otto Flenter6546
22:24 illeagle
21:45 SteveS
21:30 KBK
20:51 BA
20:45 SteveS
20:34 Airandee
19:59 abu do you love
19:46 JosephMendiola
19:43 JosephMendiola
19:42 Barbara
19:40 Barbara
19:32 Barbara
19:30 BA
19:29 Mugsy Glink
19:29 M. Murcek
19:09 Anguper Hupomosing9418
18:59 Capsu78
18:53 Ebbang Uluque6305
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