Oil Prices down again

Oil hit 36.27 a barrel today. What does this mean to the future of gas prices?

Not liking that at all, went down 100.00 + since July.

Oil is directly linked to the economy - we'll still likely be in a recession for most if not all of 2009, possibly extending into 2010; so I don't expect oil to increase much out of the $30 -$50 range for the next year or so. Once the economy (i.e.; industrial demand) kicks back in, however, all bets are off. We got a taste of it this past summer when oil hit $147/barrel; in a strong, expanding economy that might be the new floor.

I personally dont mind the price, makes it a lot easier on me to fill up the truck. I do realize that there are a lot of jobs here in Tulsa and Oklahoma that are oil driven. I would rather it just stay stable and constant than fluctuate up and down.

The biggest problem is that when the price per barrel is this low the oil producers slow down production and reduce man power because they are not making "Enough" money. They are not losing money they just are not making as much as they want so they slow production and wait for the price to go back up. There is no sense in selling the oil off cheap when they can wait and sell it for more when it goes back up so this in turn causes slow downs all over. Its kind of a self filling prophecy. Here at Linde we are in the Gas processing business on the Air Gas side of things and we are at a stand still right now because one of our biggest contracts is with Sinclair and they pretty much halted things on the job that was in the contract phase. Most of our current plants that we are building are still in the works..

as already stated, low oil prices are a sign of a very sick economy....

I like the low gas prices, but dont like the economy where its always a win lose structure. SUCKS!

With the lower gas prices, energy independence is no longer an issue and we will fall back into the same old mindset that got us in trouble in the first place. This is very dangerous. The time to fix problems is before they become acute. They have already gotten bad and now we have a second chance. Notice how our wonderful elected officials are now whistling past the graveyard?

What Blair said. Most people have short memories and unfortunately even more so are short sighted. Their decision tree looks like this...

-Is it a problem?
-Not today. It will be in the future though.
-We'll worry about it then.
-But it will require more money, time and effort in the future to fix the problem.
-We'll worry about it then...

Also... keep in mind that oil prices were way over inflated. (The joy of a speculative market). Just like the housing bubble, it's was a bubble too.

"POP!"

Not only that, but the value of the dollar over the summer fell to. So it took more dollars to buy the same amount of oil. But looks like it was a false alarm, Oil is back up to 41 right now.

If only the whole world would buy Mustangs. Then everyone could see the light.

It's like the old commercial "You can pay me now.... or you can pay me later...."

Yes, and the rise in the value of the dollar has also dropped the price of crude.

Still, we need to do something now, and unfortunately we are.... Just saw some washed up actor whining about drilling in BumF nowhere Utah on TV the other night. Stupidity never ends....

DRILL NOW DRILL NOW DRILL NOW DRILL NOW!!!!!!!!

Grabber07' wrote:DRILL NOW DRILL NOW DRILL NOW DRILL NOW!!!!!!!!

Yes, and develop solar, wind, nuclear, coal, flatulence and anything else we can come up with.....

i'm telling you... whoever can patent the first tool to turn grass clippings into mass energy will be a god......

if only we could all use the rubber we scrap off our rear quarters from the track to fuel something something. even better we could use it to fill the heads of the people that think they are important in DC. at least then their heads would be full of something other than air.