The Liberal Gun Club Forum

Earlier this year, we've had at least one thread dedicated to the rising gas prices. I was firmly in the "OMG! Prices will never fall again!" camp. I was wrong:

http://news.slashdot.org/story/12/06/24 ... ue-to-fall

Experts have now flipped their projections, and believe prices will continue to tumble through the fall.

Yes, I've noticed prices dropping for a while but waited until now to post. GasBuddy is a pretty neat site and app if you want to keep track of prices in your area:

http://gasbuddy.com/

yay for lower gas prices, but WTF?

SSSHHH.last time this was talked about they went back up

The trend is still up, as it has been since fuel has been sold.

Its all Obama's fault! Oh wait, that only applies when the prices are going up. Must be election year politics, he's making the prices go down to get reelected then he'll raise them once he gets elected.

In all seriousness, you've got a storm in the Gulf and its still early on into hurricane season so there's plenty of time for them to go back up.

gendoikari87 wrote:yay for lower gas prices, but WTF?

At the moment, a globally soft economy and a lack of demand.

GlockLobster wrote:

gendoikari87 wrote:yay for lower gas prices, but WTF?

At the moment, a globally soft economy and a lack of demand.

don't they normally cut back on supply to increase price when demand drops?

I have a receipt for gas from Clinton's last year.

$1.39 per gallon.

Let's not elect a guy who's in the water business.

We'll die of thirst.

Low gas prices are a bid to get romney into the white house.

On one hand, with low per gallon at the pump, you have the loss of high gas profits for a temporary amount of time.

On the other hand, with high per gallon at the pump, you have anger over oil speculation and harder push for renewables and higher anger over the rich bastard oil CEOs yelling for higher marginal tax rates.

Low gas prices are a bid to get romney into the white house.

Gas prices are an emotional roller coaster like the stock market and equally subject to manipulation. Gas consumption is down, our cars are more efficient but gas prices still go up. A few decades from now when gasoline consumption drops even further, I hope happenings in the Middle East shrink in political size as oil wealth in that region drops. And the best part will be the shrinking influence of oil companies and their political clout in Washington. I agree electing Georgie and Dickie in 2000 didn't bring down prices, just the reverse.

You have the refinery fire two years ago on this side of the Rockies to thank for our prices going up. It's now at full production again and we're finally starting to get back to the same numbers that the rest of the country enjoys.

I remember last time, when gas was artificially inflated to $5+/gal,then dropped precipitously to $2/gal all my Republican acquaintances were crying about how this was going to bankrupt the oil industry... and would thus plummet the economy further down the tube...

Now that the US is officially a gas/oil exporter, and the main pipeline in the Midwest has literally reversed its flow, the speculators and industry moguls can no longer falsely prop up their profits on our backs. Well, not as much anyway, for now.

gendoikari87 wrote:

GlockLobster wrote:

gendoikari87 wrote:yay for lower gas prices, but WTF?

At the moment, a globally soft economy and a lack of demand.

don't they normally cut back on supply to increase price when demand drops?

Nope, it's global and not everyone heeds OPEC, and they want to see $125/barrel. If you believe in any peak resources thinking, this is a temporary issue.

AmirMortal wrote: ...the main pipeline in the Midwest has literally reversed its flow, the speculators and industry moguls can no longer falsely prop up their profits on our backs. Well, not as much anyway, for now.

I disagree. In Maine, we also have a pipeline that's in the process of being reversed. The oil in that (or Maine's) pipeline isn't light, sweet crude. It's tar sands oil...very thick, very viscous and very acidic. That means increased leaks AND increased wear and tear on our pipelines A lot of industry people believe that it won't be able to pipe that oil for long, further increasing price when it's brought down for repeated maintenance.

AmirMortal wrote:I remember last time, when gas was artificially inflated to $5+/gal,then dropped precipitously to $2/gal all my Republican acquaintances were crying about how this was going to bankrupt the oil industry... and would thus plummet the economy further down the tube...

That is a big enough load of horse shit to fuel the planet ten times over for the lifespan of the human race.