Oil prices could sink to 1999 levels!

[JimH52]

Why oil prices could sink to 15 a barrel - Aug. 18 2015

WOW! If the Iranian deal goes through, that would certainly bring oil prices to this level.

 

[Pete7469]

Bullshit.

 

[Dont Taz Me Bro]

Oil is pretty low right now. The current price per barrel is $42.45, yet I paid $3.32 to fill my gas tank yesterday.

 

[Care4all]

Will we see 97 cents a gallon gas though?

 

[SassyIrishLass]

If Israel tries to take out Iran's ambitions you'll cringe at what a barrel of oil costs

 

[JimH52]

Bullshit.

We paid $1.85 at Krogers in Virginia before the grocery allowance.

 

[Pete7469]

Oil is pretty low right now. The current price per barrel is $42.45, yet I paid $3.32 to fill my gas tank yesterday.

Here in TX it was about $4 when prices were the highest over $100/barrel.

The price has been cut beyond half and we're still paying about $2.50.

So even if, and I highly doubt it will, hit $15/barrel it still won't go down to $1/gal. I seriously doubt the Saudis won't shut their pumps off rather than give the shit away for a price close to that.

 

[there4eyeM]

What is unfortunate is that when these prices drop, buyers go back to oversized, ridiculous vehicle purchases.

 

[Pete7469]

If Israel tries to take out Iran's ambitions you'll cringe at what a barrel of oil costs

Maybe, but US production will ramp back up. I'm not sure why the price would go up anyway, every other Mid East oil country wants Iran's nuke plants bombed.

 

[SassyIrishLass]

If Israel tries to take out Iran's ambitions you'll cringe at what a barrel of oil costs

Maybe, but US production will ramp back up. I'm not sure why the price would go up anyway, every other Mid East oil country wants Iran's nuke plants bombed.

If Israel strikes the entire ME will blow. Obungle's "legacy"

 

[Pogo]

Oil is pretty low right now. The current price per barrel is $42.45, yet I paid $3.32 to fill my gas tank yesterday.

Damn. It still costs me twenty-thirty bucks.

You can get gas in Lost Wages for as low as $2.95, and it's going down, so you must have done some searching to find a place to pay $3.32.

 

[Pete7469]

If Israel strikes the entire ME will blow. Obungle's "legacy"

I dunno...

I have read that the Saudis would open their airspace to Israeli planes.

 

[longknife]

Politicians at all levels are whining about how lower prices means less tax income. Many, like here in Nevada, are pushing for an addition levy for miles driven in the vehicle.

 

[Dont Taz Me Bro]

Politicians at all levels are whining about how lower prices means less tax income. Many, like here in Nevada, are pushing for an addition levy for miles driven in the vehicle.

I haven't heard of that here. I know they're running an experimental program in Oregon.

 

[Dont Taz Me Bro]

Oil is pretty low right now. The current price per barrel is $42.45, yet I paid $3.32 to fill my gas tank yesterday.

Damn. It still costs me twenty-thirty bucks.

I would love to pay that. It cost me $46

 

[Pogo]

Politicians at all levels are whining about how lower prices means less tax income. Many, like here in Nevada, are pushing for an addition levy for miles driven in the vehicle.

That idea's been floating around for ten years. Congress even commissioned the University of Iowa to do an experiment in several locations around the country. It would (have to) involve existing cars being fitted with GPS devices to track everywhere you go, so it hasn't gained much traction.

I haven't heard of that here. I know they're running an experimental program in Oregon.

That would be it. Oregon was one of the areas they experimented.

The study concluded five years ago. Their analysis page is here.

 

[Mr. H.]

Oil is pretty low right now. The current price per barrel is $42.45, yet I paid $3.32 to fill my gas tank yesterday.

$42.45 is not what domestic producers are paid. In the Illinois Basin, for example, just over $8/barrel is deducted for various reasons such as regional market differentials and transportation.

So if it did hit $15 as someone postulated, the producers' price would be more like $8/barrel.