Is $1.99 gallon gas good for the USA?

[mirage62 0]

Couple years ago, I'm pretty sure Bill told me we would never see gas at $1.99 a gallon. Bill is pretty on top of things IMO although we disagree often.

Got me thinking, is this GOOD for the USA?

Wind and other power sources were taking off IMO but with oil coming down I'm afraid that these alternative sources will fall aside.

I wasn't a fan of Obama's alternate power (wind, solar ect) but they aren't going to run out like oil will ONE day.

Kevin Keenan is my hero, a double FUP, he does so much with so little

[richravizza 25]

The problem I have with the "Peak Oil" mentality is technology.

but Yes,
Now, the Fed,State can Raise Tax to $1.00 a gallon and
increase, "FOOD FOR FUEL" Program by 100%.

[Anvilbrother 0]

I think it's going to be great. Afaik oils(or liquid gas) isn't often used as fuel for electrical generation. Coal, and natural gas are the main players, and the U.S. already has and had huge resources of natural gas, so why would it really affect alternative energies?

I think the best thing is the lowering of anything made with plastics, the cost of transportation going down which should reduce the cost of goods, put more money back into the pocket of Americans to save, educate, invest, and spend in the economy. I hope it lasts long enough to see what the possibilities are after the markets and speculation settle on the whole situation.

Postes r made from an iPad or iPhone. Spelling and gramhair mistakes guaranteed move along,

[quade 3]

There will be winners AND losers due to the price point of gasoline.

In the minds of the general population which tends toward the philosophy of, "I've got mine. Fuck you!" it will generally be seen as a net positive allowing people to spend more money on other things as opposed to just getting from point A to B.

If fossil fuel consumption goes up, it will not be a positive thing for the US ecology. THE reason costs are coming down is fracking which is almost certainly not a good thing for the US and global ecology.

There is more to life than simply what the price of gas is.

quade -
The World's Most Boring Skydiver

[richravizza 25]

Anvilbrother

I think it's going to be great. Afaik oils(or liquid gas) isn't often used as fuel for electrical generation. Coal, and natural gas are the main players, and the U.S. already has and had huge resources of natural gas, so why would it really affect alternative energies?

I think the best thing is the lowering of anything made with plastics, the cost of transportation going down which should reduce the cost of goods, put more money back into the pocket of Americans to save, educate, invest, and spend in the economy. I hope it lasts long enough to see what the possibilities are after the markets and speculation settle on the whole situation.

Right to the bottom line..
I Apologize, for the negative vibes.. needed to eat.
May I add,
Small businesses are the majority of employers in the U.S., they will benefit, i'm sure wage growth, and real employment growth could be in our future.From a Supply and Demand stand point, looks like oil could be low for years,and the bottom may not be in yet.

[billvon 2,426]

>Got me thinking, is this GOOD for the USA?

Good and bad. Good for car companies, bad for oil companies. (A lot of companies dependent on tight oil are going to go belly-up, which of course is why OPEC did it.)

[lawrocket 3]

People think that an extra few hundred dollars a year in people's pockets are bad bad things. Not me. This is the sort of thing that, on a macro scale, pumps up an economy.

In effect, an American family just got a raise. What? $500 a year? $1k per year? More? Anyone who thinks that the minimum wage should be increased should laud this. They won't because this isn't taking a cent from anyone. The pie just grew. More for everyone.

The kinda thing that spurs an economy. This is good. (Note to those making the "environment" argument. The price is low, in big part, because China's economy is tanking. As well as an increased supply, but less oil is being used. Less demand equals less use equals good for the environment. It's when prices go UP that one should examine whether it's a symptom of environmental carnage.)

My wife is hotter than your wife.

[stayhigh 2]

It's horrible.

Bernie Sanders for President 2016

[gunsmokex 1]

I just paid $1.68 yesterday for gas. I don't think I've seen that since I graduated high school 20yrs ago.

Sure this might hurt Wall St but in the end they are the ones that were partly responsible for creating this whole mess in first place. The OPEC nations might be screwed but they still have China to export to. Hell eventually maybe the US will export, who knows!

For the American middle class this is better than any "stimulus package" or "cash for clunkers" those two programs were a joke.

I just hope it stays this way for a while, an RV, my Jeep and maybe my boat in tandem and I'm set. Travel nursing for 4-6 wk contracts, park the RV at the DZ, drive the Jeep to work and on days off JUMP, windy days fish.

So yeah how in heck could this not be good? Tourism will be up. Sure big Oil might lose but those cats have been getting fat for a long time.

I honestly do not see any way oil will back up to where it was. In the upper midwest the Keystone pipeline looks like it will go through bringing Candaian oil to the Texas refineries and there is another one that is proposed from North Dakota to Indiana. Not to mention that they tried to go through with a new refinery up here, it failed but there will be other refineries coming. Hell why not Detroit? Maybe that would save them up and bring them back to the greatness they once were.

I don't exactly know what will happen to the US economy but I know mine is doing well and I'm very close to being able to buy my 1st rig with the money I'm saving on gas :)

[DanG 1]

Quote

Hell eventually maybe the US will export, who knows!

Looks like it's in the pipeline {cough}.

http://www.reuters.com/article/2014/12/31/us-usa-crude-exports-analysis-idUSKBN0K908M20141231

- Dan G

[wmw999 2,146]

The worst thing that will come from a short term decrease in gasoline prices is the number of people who will now buy a bigger more gas-guzzling vehicle. Because then they'll be the ones in trouble when gas goes back up again.

Some analyst predicted that oil won't go back to $100 a barrel again. Maybe, maybe not. But in the face of the past of a consumable that we consume willy-nilly, it seems like a rather extravagant prediction

Wendy P.

There is nothing more dangerous than breaking a basic safety rule and getting away with it. It removes fear of the consequences and builds false confidence. (tbrown)

[rehmwa 2]

lawrocket

People think that an extra few hundred dollars a year in people's pockets are bad bad things. Not me. This is the sort of thing that, on a macro scale, pumps up an economy.

and we are seeing it right now, it's an amazing boost

Our state has and URGENT gas tax increase on the table right now.
Clearly they consider this boon to be the sole property of government and this improved outlook and the ability of gas users to keep more money in their pockets is abhorrent to government.

We need to nip any economic improvements in the bud or the populace might go get 'uppity'.

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[rehmwa 2]

wmw999

The worst thing that will come from a short term decrease in gasoline prices is the number of people who will now buy a bigger more gas-guzzling vehicle.

I suspect that those that are really positively impacted by this change aren't in the market for new cars. They need the money for buying food and clothes.

those that buy those new cars likely could do it before

My concern is knee jerk tax increases that won't go away once the price of gas goes up. And the fact that so many will self-righteously applaud it.

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[SkyDekker 1,141]

rehmwa

***The worst thing that will come from a short term decrease in gasoline prices is the number of people who will now buy a bigger more gas-guzzling vehicle.

I suspect that those that are really positively impacted by this change aren't in the market for new cars. They need the money for buying food and clothes.

those that buy those new cars likely could do it before

My concern is knee jerk tax increases that won't go away once the price of gas goes up. And the fact that so many will self-righteously applaud it.

Obviously the thouands employed in the oil industry (and secondary industries) who are about to lose their jobs may have a different view on this.

[CanuckInUSA 0]

Some win, some lose. It all sort of evens itself out. Individuals will obviously benefit with lower fuel costs and they will have more money to either spend it or pay down existing debts. Some businesses will also benefit with lower transportation fuel costs, but I highly doubt they will pass this savings on to the consumer (sorry can't see DZOs dropping the jump ticket prices, They will come up with some excuse to keep them where they are). Other businesses that rely on resource exploration, extraction and businesses that rely on building the equipment to extract the resources will lose. And the big losers will be the various governments who have become reliant on resource taxes to fund their government spending which in turn will hurt many people (some of course who hate oil and gas) who rely on government programs. I always have to laugh at people who do not understand that resource taxation helps fund the big government programs these people cherish

Expect oil to be low for the next few years. Saudi Arabia and the US government are working in collusion here with each other to harm the Russian, Iranian, Venezuelan and to some extent Canadian economies (though I don't think Canada is in the cross hairs of the Saudis and Americans). But if anyone thinks oil will stay low forever, perhaps I could interest them in a nice Spring/Summertime time share property off the coast of Bangladesh. What goes up, must come down and over course it will go up again, and it will come down as it always has. This idea that the world would be running out of oil in the next decade or two is complete and utter bullshit. There are still several centuries left of the dino juice at today's production levels. The important thing is to watch what governments do. Will they be raising taxes now to make up for the pending resource taxation short fall? My guess is yes there is no government out there that does not love to raise taxes even though some say they don't like to do it. What happens when the price of these resources rebound? Will the taxes be lowered? LOL ... if you think they will, remember that Bangladeshi time share opportunity I told you about.

Some will win here, some won't win with these prices. But we better get ready to adjust to the changing economic climate. Historically manufacturing benefited and was able to pick up the slack when resource commodities were low. But big manufacturing has left and I highly doubt we will ever see it return. Oh and I don't see any harm in trying to ramp up solar technologies. But wind is not the answer to all our problems. One only needs to look at the Province of Ontario and how the ruling Liberals have messed that place up with the massive wind initiatives. Funny the media goes ape shit when a few birds die in an oil tailings pond but the same media totally ignores big wind when wind turbines kill thousands and thousands of birds every year. But you didn't think the media was honest did you? Remember that time share in Bangladesh if you do. LOL

Try not to worry about the things you have no control over

[SkyDekker 1,141]

In the mean time you can get ready to pay sales taxes like the rest of the provinces

[CanuckInUSA 0]

SkyDekker

In the mean time you can get ready to pay sales taxes like the rest of the provinces

Perhaps ... or perhaps we will finally find out if Jim Prentice and the rest of this clan are Conservatives (IE: willing to control their spending) or if they really are the Progressive Party as I have claimed that they are. If a sales tax is introduced, perhaps the death and demise of the Wildrose Party was a tad too soon? Time will tell.

Try not to worry about the things you have no control over

[normiss 622]

Personally, I'd LOVE to upgrade to a big diesel pickup.
I need/want more towing power and efficiency.

[rehmwa 2]

SkyDekker

******The worst thing that will come from a short term decrease in gasoline prices is the number of people who will now buy a bigger more gas-guzzling vehicle.

I suspect that those that are really positively impacted by this change aren't in the market for new cars. They need the money for buying food and clothes.

those that buy those new cars likely could do it before

My concern is knee jerk tax increases that won't go away once the price of gas goes up. And the fact that so many will self-righteously applaud it.

Obviously the thouands employed in the oil industry (and secondary industries) who are about to lose their jobs may have a different view on this.

Can you elaborate?

How does higher taxes affect these employees? (other than they have to buy gas too and will have to pay more......and they also have to buy food and clothes whether they keep or lose their jobs)

Or do you mean that lower prices will temporarily discourage new drilling? I see that (though it's not lower prices, but lower profits - and extra taxing doesn't affect that at all = it's a government grab from gas consumers. Those employees are out of it regardless. In fact, more taxes discourage gas sales, so it's even worse for those employees.

And Even if the money did go to big oil, the money freed up in the free market will also encourage other businesses to move up. That'll create replacement jobs. Why do you want to keep people in other industries unemployed? ; ) the economy is a self balancing type of system. Do you want to arbitrarily try to force it static so things don't change?

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[CanuckInUSA 0]

Quote

How does higher taxes affect these employees? (other than they have to buy gas too and will have to pay more......and they also have to buy food and clothes whether they keep or lose their jobs)

I don't think he was talking about higher taxes. I believe he was talking about people losing their jobs when the resource commodity prices drop. It is kind of a domino effect too as many support industries will be effected when jobs that rely on resource exploration and extraction are terminated.

I am the one who is claiming governments will raise taxes to make up for their lost revenues and well I don't see any benefit here. Some will win, some will lose with lower commodity prices. But we all get screwed when governments raise taxes to make up for their lost revenues.

Try not to worry about the things you have no control over

[rehmwa 2]

CanuckInUSA

I am the one who is claiming governments will raise taxes to make up for their lost revenues and well I don't see any benefit here. Some will win, some will lose with lower commodity prices. But we all get screwed when governments raise taxes to make up for their lost revenues.

that's my point - taxing it will make it worse for those industries and their employees. Not better.

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[Rstanley0312 0]

It is a good thing overall. It is temporary but good. It has been a long time since oil has been dictated by supply & demand. We are the closest to getting back to that model that we have been in 20-30 years. This is not "hurting" wall street. Since that is the world I work in I will just tell you that the impact on the market is a result of the volatility in oil. Once is stabilizes everything will be fine. This also pushed the market to pull back which is a very good thing. I will tell you that the "fix" for cheap oil is cheap oil. Consumption will increase which will result in pricing bumps. I do think that "low" prices will be around for a few years at least. This is still temporary though.

Despite other opinions... I think fracking is a great thing. OPEC wants you to think otherwise which is why they pump so much money in to environmental campaigns and groups telling us it is bad.

Life is all about ass....either you're kicking it, kissing it, working it off, or trying to get a piece of it.
Muff Brother #4382 Dudeist Skydiver #000
www.fundraiseadventure.com

[SkyDekker 1,141]

rehmwa

***I am the one who is claiming governments will raise taxes to make up for their lost revenues and well I don't see any benefit here. Some will win, some will lose with lower commodity prices. But we all get screwed when governments raise taxes to make up for their lost revenues.

that's my point - taxing it will make it worse for those industries and their employees. Not better.

I responded to the wrong post rehmwa...apologies.

Taxes will go up in some locales, specially when their revenue was mostly based on the oil industry.

Many people in that sector will lose their jobs....other sectors will see growth though. Overall I don't think it is as bad a thing for the US economy as it is for the Canadian economy, which is far more resource heavy.

[rehmwa 2]

SkyDekker

I responded to the wrong post rehmwa...apologies.

well crap......that's not as fun when we all are arguing similar positions......


we need gun powered gas pumps - ones that you shoot to start the flow, and then shoot again when finished. Paid for by taxing the 1%.

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[CanuckInUSA 0]

Quote

Despite other opinions... I think fracking is a great thing. OPEC wants you to think otherwise which is why they pump so much money in to environmental campaigns and groups telling us it is bad.

Most fracking is done for Natural Gas and yes I am in complete agreement that Fracking is good. The USA is one of the few countries who have been able to reduce their Green House Gas emissions and they were able to do this thanks to Fracking. By extracting more Natural Gas through Fracking, the USA has been able to close down many Coal fired power plants and replace them with Natural Gas plants. Plus all this nonsense about Fracking is polluting the ground water is complete bullshit. Fracking occurs a couple of miles deep into the earth, nowhere close to the water tables. But don't expect the Media, Hollywood or their Big Green partners to acknowledge this.

Try not to worry about the things you have no control over