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393 Comments
- upick, on 12/28/2008, -7/+292Don't get too happy it's going up again and you know it
- allocate, on 12/28/2008, -7/+203The thing that scares me about this is that I've heard comments lately such as, "I think they're sitting on enough oil to have cheap gas for a lifetime now." Obviously this is only temporary and we need to start seriously considering renewable energy sources.
- inactive, on 12/29/2008, -2/+153Naturally, we will forget about conservation and alternative sources until the price goes back up again.
- greeniemeani, on 12/29/2008, -5/+123That's what she said.
- pathouston22, on 12/29/2008, -7/+94Its called "national average"
- ConceptsX, on 12/29/2008, -3/+86Enjoy it while it lasts....
- inactive, on 12/29/2008, -9/+91Bush is only responsible for bad things, not good things. All good things come from Obama. Bush will be to blame for every bad thing that happens for the next 200 years.
- Harboggles, on 12/29/2008, -5/+84They already cut production. Within the next 6 months prices will gradually start rising...and we will do the whole thing all over again.
- inactive, on 12/29/2008, -4/+78The only reason gas is cheap is because the global economy is *****.
- Solkre, on 12/29/2008, -5/+76I don't care how low gas gets. I'm going to keep using as little as possible, and getting as high a MPG as I can.
- pathouston22, on 12/29/2008, -25/+93BLAME BUSH!
Right? I mean it was his fault when prices went up??? - VyPR, on 12/29/2008, -11/+77. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . _______________
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: : : : : : :¯’’~~~~~~’’’ : : : : : : : : : : : : : : : : : : | : : : : : : : : : - CNAIF, on 12/29/2008, -2/+52shouldn't be long before oil companies ask for a bail out
- lendrick, on 12/29/2008, -0/+48Bill Clinton signed the law in 2000 that allowed rampant oil speculation to take place, which drove prices way up. You can read about the "Enron Loophole" here:
http://www.jimhightower.com/node/6514
http://en.wikipedia.org/wiki/Enron_loophole
Congress passed a law earlier this year to close the loophole. It was vetoed by George Bush, but the veto was overridden and the law was passed as of June 18th, and took effect on September 30th. You can check out the graph of gas prices here:
http://www.gasbuddy.com/gb_retail_price_chart.aspx
If you look at the graph for the last year, notice the steady rise, which halts around mid June, and then dives precipitously near the end of September. This is just an effect of gas prices correcting themselves after speculation was properly regulated.
So if you want to blame someone, blame the following people:
* The speculators and their lobbyists who wrote this law in the first place
* The idiots in congress who voted for it initially
* The idiot who signed it into law
* The idiot who vetoed the repeal
I'm a strong Democrat and a proud liberal, but if you take a look at the facts, you'll see that the blame here rests solidly with both parties. There are a lot of links in this chain, and rather than trying to point at one link or another, we probably ought to be blaming them all, as any single one of them could have put a stop to it. We also ought to be giving Congress credit for the bipartisan effort to finally close this thing (the Dems don't have enough votes on their own to override a veto) and get gas prices back to a reasonable level. - OutpostNetwork, on 12/29/2008, -0/+39So all those companies that raised their prices because of the high price of gas are going to now start lowering their costs? That's great!!!
- ousthouse, on 12/29/2008, -2/+41Crap. I was planning on using the equity from the gas I bought a few months ago to fund my retirement.
- inactive, on 12/29/2008, -0/+28OPEC never actually cuts production, they just say they do in an attempt to drive up prices. If you show up at their dock with your oil tanker and say, "fill it up" they will never turn you away because they have already sold their quota for the month.
- DougieD, on 12/29/2008, -12/+38Shame on you and everyone who dugg you. Your line of thinking is completely wrong. Yeah, corn and solar panels might not come to our rescue, but how dare you write off everything but oil, and brush the issue under the rug! That’s ridiculous. We need to dramatically promote sustainability in energy production, energy distribution, and energy consumption using every option available (at least untill something economical sticks, or until fission reaches net gain). Solar, geothermal, algae, recycling, downsizing, upgrading; every imaginable buzzword you can think of etc. This problem will not go away, and oil has so obviously become an environmental and political liability to our future in the strongest and most immediate sense of the word. You cannot wait for your kids to fix our problem.
- korvan504521, on 12/29/2008, -7/+31*****. You.
A big part of the reason our economy is where its at right now is that gas went too high too fast, and the consumers ran out of money to spend on the useless ***** that keeps our economy moving. - holyskeleton, on 12/29/2008, -9/+33*insert "it's a trap" acsii art here*
- yngtimmy, on 12/29/2008, -1/+25got gas here in FL over Christmas. Paid 19.99 for a full tank. 3 months ago it was almost $60.00. That being said, Ill take my hydrogen fuel cell conversion now plz.
- timusca, on 12/29/2008, -15/+37Does your high horse even take gas though?
- inactive, on 12/29/2008, -0/+22you get the garbage cans, and i'll get a rapist van and go door to door selling them.
- brownsound00, on 12/29/2008, -0/+22+100 to SUV sales.
- Solkre, on 12/29/2008, -2/+24I don't have to be on a high horse to not drive like a jackass, not take unnecessary trips and plan ones I do take better. I got new sparkplugs and a gas filter, and those simple changes aren't less effective with $1.49/gal gas than they were with $4.55/gal.
Explain to me why I wouldn't want to keep doing what I can to use less gas?
I suppose you'd also be sad to learn I installed window coverings for the winter, got a digital thermostat, and stopped setting a barrel of oil on fire nightly for lighting. - feliks2, on 12/29/2008, -1/+21Yes, lets just not go anywhere once they rise again...
- Cerialthriller, on 12/29/2008, -1/+20how does mass transit work in rural areas? are they going to pick me up in east ***** and take me to work 20 miles away in north ***** where they will have about 5 passengers each way?
- castletech, on 12/29/2008, -0/+18That's no moon. It's a gas station.
- Manther, on 12/29/2008, -1/+18is it the "national average" that sucks, or your location?? Think about it.
- Smokeydabear, on 12/29/2008, -0/+17I'm glad gas prices are falling. My main car broke down and I was forced to start driving my old Ford F100. The thing has a straight six engine – which is better on gas than a V8 – but it still loves its gasoline.
- Silvertower, on 12/29/2008, -2/+19I had to register just to digg you down. Your comment seriously has to either be some attempt at sarcasm (I hope this is the case) or you are just morbidly ignorant; either way, it was completely retarded.
Petroleum requires millions of years to form from biomass and pressure and to pool together in the quantities that we find in the deposits we drill. It is not made from "the core of the earth burning the rock and drying the rock hot cold day after day after day." It does not "reproduce(s) itself" either.
I've got an idea. Why don't you microwave some gravel and put that in your gas tank. You might get favorable results. I'll invest in your energy company too.
And your comment on generators made me die a little inside.
Please go to school and nurture those dying brain cells... - SirvenomItsac, on 12/29/2008, -0/+17not in my country, in Argentina, gas prices are still climbing thanks to the government's crazy taxes
- duggdowncatisad, on 12/29/2008, -2/+18Crime? WTF? Go back to the USSR comrade.
- tidu, on 12/29/2008, -0/+14But this time it'll go to $3.50 and we'll be content because hey, at least it's not $4.50!
:| - pilotlicense, on 12/29/2008, -5/+19Lowest in the nation is $1.44? Funny, it's $1.39 down the street from my house.
- Jonjonr6, on 12/29/2008, -4/+18That's like saying "no one have sex, cause you might spread diseases. If we all don't have sex for like a century, we'll get rid of all the STDs."
Sure, it could work, but its nearly impossible to get people on board with that idea. - neutronphaser, on 12/29/2008, -1/+15Only $8/gallon in the UK!
- SteaminTmann, on 12/29/2008, -0/+13More people travel during holidays means more gas is being used, meaning demand is higher, that is most likely why the prices jumped like that, same reasons why gas prices tend to get higher during weekends, and bottom out in the middle of the week.
- ousthouse, on 12/29/2008, -2/+14The drop in price isn't because it's the only price people can afford. People were still buying gas when it was $4 a gallon. The price dropped because the supply increased and the oil companies competed to offer prices as low as they could to get as many customers they could from buying from the other guy. That's a sign of a healthy economy. Overall, yeah, our economy is in the crapper, but not because of this.
- Manther, on 12/29/2008, -0/+12While I agree it'll go up again, where I am it was $1.78 a week ago, and is now down to $1.70... So try to keep in mind that it's all relative too.
- RetepNamenots, on 12/29/2008, -2/+14It's called "national average".
- ousthouse, on 12/29/2008, -1/+13Where should gas prices be in a good economy?
- mehan, on 12/29/2008, -8/+18Americans: please don't start driving more just because it's cheaper now. It will go back up if you do.
- Necoras, on 12/29/2008, -2/+12Higher gas taxes aren't a bad idea, but the middle of a recession is the worst possible time to artificially inflate energy costs.
- inactive, on 12/29/2008, -0/+10I believe I ended up paying about $4.90 a gallon once (here in So Cal). We changed our driving behavior and I plan to continue with that practice. I still drive a big SUV (it's cheaper to keep it over buying a brand new vehicle that isn't paid for), but I don't make all the little trips I used to.
- Crucible1001, on 12/29/2008, -2/+12Renewable energy is trickling in at least. I think we are weening ourselves off just fine at this rate.
- chaon93, on 12/29/2008, -0/+10Fun Fact: 1 Imperial gallon = 1.20095042 US gallons
- theculchie1, on 12/30/2008, -0/+9Before I begin, I'm not saying oil will not become more scarce or more not become more expensive. Rather the extent to which the market overreacted to this drip feed of bullish oil stories is the key point.
Firstly OPEC haven't successfully controlled the price of oil since 1973.
They claimed right up to $135/bbl that pure speculation was driving the market. When it hit $140/bbl they changed their mind and claimed $200 within months because of excess demand. They truly are as clueless as the commentators.
The barrel of oil crashed and its since been revealed that the bulk of oil speculative trading was done by several large hedge funds.
Once the illusion of imminent oil shock rumors and the sure thing bet of oil was gone the hedge funds lost interest.
Hence a return to more market driven oil price. - inactive, on 12/29/2008, -3/+12Yeah what a ***** prick, Solkre is on a high horse because he says that he plans on not driving wastefully. What a ***** elitist, how dare he not drive excessively?
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