Paid $1.99 a gallon for gas today .

[Deleted member 53821]

Thanks obama !

Oh wait , he only gets credit for bad things . Like when fuel is high !

One day you will come to the conclusion that OBama is not your master.

 

[longknife]

$1.83 to $1.93 here in Vegas yesterday

 

[IsaacNewton]

Highest gas price with G W Bush in office, $4.21/gallon.

It is $1.89/gallon here in California where the highest gas prices can be found. In some cities it is under $1.00/gallon.

Wasn't Bush the 'oil' president? And didn't the Republicans predict $6.00/gallon of gas if Obama was elected?

Trust another Republican to pick a Supreme Court justice? I don't think so. (Brought to you by the all new Conservative Red Herring factory in Cut and Shoot, Texas.)

YES, its a real city in Texas --
According to one local legend, Cut and Shoot was named after a 1912 community confrontation that almost led to violence. According to differing versions of the story, the dispute was either over:

• The design of a new steeple for the town's only church,
• The issue of who should be allowed to preach there, or
• The conflicting land claims among church members.

Whatever the circumstances were, a small boy at the scene reportedly declared "I'm going to cut around the corner and shoot through the bushes in a minute!" This statement apparently stayed in the residents' minds and was eventually adopted as the town's name.

'Visit Cut and Shoot and get your shiny new Ben Carson stabbing knife and your steady Dick Cheney face shootin' shotgun.'

Funny, last time I was through Cut and Shoot there wasn't even a traffic light, much less a factory.

Did someone try to run around the bushes and cut and shoot?

 

[Katzndogz]

Yesterday at Olympic and Beverlywil, gas was $4.39!

 

[HereWeGoAgain]

Yesterday at Olympic and Beverlywil, gas was $4.39!

Holy shit!! Where do you live?
I saw regular unleaded near Cleveland Texas the other day for a $1.39

 

[BluesLegend]

Thanks obama !

Oh wait , he only gets credit for bad things . Like when fuel is high !

An asteroid did not hit the earth today, praise Obama. /eyeroll

 

[SassyIrishLass]

Thanks obama !

Oh wait , he only gets credit for bad things . Like when fuel is high !

You should be thanking the Saudis, Obungles had zilch in it. But you're an Obama lemming and wouldn't grasp it if it was explained to you

 

[BluesLegend]

Its pathetic that Obama has so few actual accomplishments that liberals have to start threads based on blatant lies to credit him with something.

 

[g5000]

In some places, gas is now under a dollar.

 

[g5000]

Michigan becomes first state to welcome back gas under $1

Gas wars: A gallon is just 46 cents here

Gas temporarily dips below $1 at Youngstown station

 

[Siete]

1.55 @ Shell

 

[g5000]

So what fun is a gas topic without something to make you shit your pants?

In that spirit, you want to hear a number that is mind boggling?

According to the CIA World Factbook, there are 1.656 trillion barrels of proved oil reserves.

That's not the mind boggling part. Hold on.

But first, I must specify what "proved oil reserves" means:

"Proved reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with a high degree of confidence to be commercially recoverable from a given date forward, from known reservoirs and under current economic conditions."

Okay. That's oil we know is there. It's money just sitting in the ground, waiting to be taken out and put in the bank.

Here's comes the mind blower.

The price of crude oil on January 31, 2014 was $102.10. The price of crude oil on January 31, 2016 was $29.78.

So, let's do the math and see how much wealth has gone up in smoke. Ready?

102.10 - 29.78 = 72.32.

So in the past two years, every proven reserve barrel of oil has lost $72.32 in value.

Multiply that by the 1.656 trillion barrels of proven reserves, and in the past two years $119,761,920,000,000 of wealth has vaporized.

$120 TRILLION!!! POOF! Gone!

So what's the big deal, you may be wondering. It's not like the oil in the ground is actually someone's bank account and they have lost money.

Oh, but it actually is someone's bank account. You see, those people who own those reserves have gotten loans and issued high interest bonds, using those reserves as collateral.

What happens to a debtor when their collateral loses value? What do you think all those creditors holding those high interest bonds and the paper on all those loans are thinking as they ponder the fact the collateral backing all those bonds has lost $120 trillion in value?

What do you think the investors who bought tranches of derivatives build on all those loans and bonds are thinking?

Yeah.

Let the fun times begin.

 

[Siete]

 

[konradv]

$1.579 down the street. Thanks to Obamagas you can go somewhere and actually have money to spend when you arrive!

 

[Timmy]

Thanks obama !

Oh wait , he only gets credit for bad things . Like when fuel is high !

You should be thanking the Saudis, Obungles had zilch in it. But you're an Obama lemming and wouldn't grasp it if it was explained to you

We're you born yesterday ? Do you not remember the last elections
? "Drill baby drill" ring a bell?

If gas was $5 , you'd never stop blaming Obama about it.

 

[OKTexas]

Highest gas price with G W Bush in office, $4.21/gallon.

It is $1.89/gallon here in California where the highest gas prices can be found. In some cities it is under $1.00/gallon.

Wasn't Bush the 'oil' president? And didn't the Republicans predict $6.00/gallon of gas if Obama was elected?

Trust another Republican to pick a Supreme Court justice? I don't think so. (Brought to you by the all new Conservative Red Herring factory in Cut and Shoot, Texas.)

YES, its a real city in Texas --
According to one local legend, Cut and Shoot was named after a 1912 community confrontation that almost led to violence. According to differing versions of the story, the dispute was either over:

• The design of a new steeple for the town's only church,
• The issue of who should be allowed to preach there, or
• The conflicting land claims among church members.

Whatever the circumstances were, a small boy at the scene reportedly declared "I'm going to cut around the corner and shoot through the bushes in a minute!" This statement apparently stayed in the residents' minds and was eventually adopted as the town's name.

'Visit Cut and Shoot and get your shiny new Ben Carson stabbing knife and your steady Dick Cheney face shootin' shotgun.'

Funny, last time I was through Cut and Shoot there wasn't even a traffic light, much less a factory.

Did someone try to run around the bushes and cut and shoot?

Not that I saw, Cut and Shoot doesn't even qualify as a wide spot in the road. You wouldn't even know you were there if it weren't for the signs, it just blends in with the east side of Conroe.

 

[g5000]

Thanks obama !

Oh wait , he only gets credit for bad things . Like when fuel is high !

You should be thanking the Saudis, Obungles had zilch in it. But you're an Obama lemming and wouldn't grasp it if it was explained to you

Who do you think talked the Saudis into keeping production high?

Kerry Announces Unplanned Visit to Saudi Arabia

 

[g5000]

Why Oil Is Plunging: The Other Part Of The "Secret Deal" Between The US And Saudi Arabia | Zero Hedge

 

[SassyIrishLass]

Thanks obama !

Oh wait , he only gets credit for bad things . Like when fuel is high !

You should be thanking the Saudis, Obungles had zilch in it. But you're an Obama lemming and wouldn't grasp it if it was explained to you

We're you born yesterday ? Do you not remember the last elections
? "Drill baby drill" ring a bell?

If gas was $5 , you'd never stop blaming Obama about it.

Incapable of refuting it's the Saudis? I know it, you should learn it.

 

[g5000]

March 2014. Putin invades the Crimea. Putin's entire economy rests on oil.

The US enters negotiations with Iran, a client state of Russia and an enemy of Saudi Arabia.

Kerry visits Saudi Arabia, a long standing friend of the US.

The price of oil plunges.

Russia plunges into a deep recession. Iran signs agreement to deconstruct their nuclear weapons program.