Oh my, another gas thread!!!

From the local paper....

http://www.star-telegram.com/news/story/785552.html

 

It's not enough for my liking, however every bit helps!!!!!!!!!

 

Gas in Houston $3.65

 

It need to fall $2.50.

 

It needs to be half that... Like 1.25

Gas is taxed 50 cents per gallon, and our Dumbass government has allowed too many restrictions on drilling. I have seen no one discuss OSHA, and the EPA... Which is a huge part of the problem.

 

it's already fallin 26 cents here in the past 2 weeks

 

Only fell a dime here!

 

The cracks in the price of oil have been forming for the last two months. I'd expect gas prices to fall more than the .25 they're saying. I'd expect by Christmas, barring anything catastrophic, for gas to be below $3.00 and a lot closer to $2.50 and maybe even less. Once the price starts to slide- look out! Here's a Bloomberg article on it:

OPEC's oil supply will probably increase in July by 200,000 barrels a day, or 0.6 percent, as Saudi Arabia fulfills its pledge to boost production, according to preliminary estimates from PetroLogistics Ltd.

The 13 members of the Organization of Petroleum Exporting Countries will provide 32.9 million barrels daily this month, compared with 32.7 million a day in June, PetroLogistics founder Conrad Gerber said in an e-mail from Geneva. OPEC contributes more than 40 percent of the world's oil.

Saudi Arabia, the world's largest oil exporter, pledged on June 22 to increase output by 200,000 barrels a day in July, on top of a previous 300,000-barrel-a-day boost scheduled for June.

``The Saudis can produce more but they can't sell it,'' Gerber said in a telephone interview. ``The demand's not there.''

The Saudi kingdom increased supplies to world markets to 9.45 million barrels a day this month, from 9.32 million a day in June, according to PetroLogistics.

Still, Saudi Arabian supplies to customers in July are well short of the 9.65 million a day produced in June as the Gulf kingdom is unable to find buyers for its sulfur-heavy crude types, Gerber added. Low-sulfur varieties are preferred by refiners during summer months because of their suitability for making gasoline.

Angola and Iraq also contributed to the extra volumes in July, PetroLogistics said. Angola raised supplies by 100,000 barrels a day to 2.015 million a day, and Iraq by 120,000 a day to 2.45 million barrels a day.

Iranian output dropped to 4.05 million barrels a day in July from 4.14 million the previous month after OPEC's second- largest member suspended the release of inventories held in storage, Gerber added.

 

That would be nice.

 

Now for the people that bought stock in this hype.
When you sell off, guess who's got cha money now.

 

$2 a gallon would be great for me!

 

the more oil they use per day to drop prices is how much less that we have, correct?


with all the drilling restrictions I'd say we would be running out a little faster? i hope not.


Gas at anything under 2.75 would be amazing. lower would be a sign from God

 

It's dropped $0.30 here in the last four days.

 

$3.55 at some stations here inCleveland.

TSC

 

$2.00 a gallon would be great...back to 40-50 buck fill ups, not this 80-95 dollar BS.