Author Topic: Low gas prices  (Read 4643 times)

Magnum

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Low gas prices
« on: April 01, 2020, 07:55:02 AM »
I am sure enjoying the dropping gas prices.

Some places have regular gas at 99 cents a gallon.

Is gas dropping in other non-US countries?

Andy
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caballero

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Re: Low gas prices
« Reply #1 on: April 01, 2020, 11:14:55 PM »
I fill my car's engine very few times, so I couldn't tell you. What does happen is that when oil rises, the price of fuel automatically rises; however, when the price of oil falls, it has very little impact on the price of fuel.

On the other hand, the problem of low oil prices is that for fracking in the USA to be profitable, a certain value per barrel of oil is needed and now we are below it, which makes it unprofitable and, therefore, loans from banks to this industry is ruinous.

There is not much to be happy about. It is best not to use the car much.  :thumbsup:
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Magnum

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Re: Low gas prices
« Reply #2 on: April 02, 2020, 12:50:20 AM »
I think you are thinking on the negative side.

If you look for the good, you will find it.
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jj2007

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Re: Low gas prices
« Reply #3 on: April 02, 2020, 01:39:41 AM »
I think you are thinking on the negative side.

If you look for the good, you will find it.

Right :thumbsup:
Lower gas prices will lead to more consumption, which will accelerate climate change and hopefully put some of the worst deniers under water, which is a good thing :badgrin:

hutch--

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Re: Low gas prices
« Reply #4 on: April 02, 2020, 09:57:33 AM »
The oil price stoush between the Saudis and the Russians is having knock on effects to both of their economies and that of many other oil producing nations. It is sending the US fracking industry into bankruptsy and doing big damage to economies that depend on oil. Nigeria, Venezuela and others. There is also the possibility that both the Saudis and the Russians are using the oil price war to retaliate against the endless sanctions imposed by the US administration by deliberately trashing the fracking industry in the US that has higher production costs than either the Saudis or the Russians.

Maybe its time to get a wind/solar generator and an electric car and let them all sink in their own chyte.
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Mikl__

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Re: Low gas prices
« Reply #5 on: April 02, 2020, 10:30:30 AM »
Quote from: Greta Tunberg said to the UN summit on climate change
Lower gas prices will lead to more consumption, which will accelerate climate change and hopefully put some of the worst deniers under water, which is a good thing

Greta Thunberg è una piccola Adolfa Hitlerini

jj2007

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Re: Low gas prices
« Reply #6 on: April 02, 2020, 11:56:51 AM »
Yeah, Greta can be a bit harsh :greenclp:

Magnum

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Re: Low gas prices
« Reply #7 on: April 02, 2020, 11:30:47 PM »
The oil price stoush between the Saudis and the Russians is having knock on effects to both of their economies and that of many other oil producing nations. It is sending the US fracking industry into bankruptsy and doing big damage to economies that depend on oil. Nigeria, Venezuela and others. There is also the possibility that both the Saudis and the Russians are using the oil price war to retaliate against the endless sanctions imposed by the US administration by deliberately trashing the fracking industry in the US that has higher production costs than either the Saudis or the Russians.

Maybe its time to get a wind/solar generator and an electric car and let them all sink in their own chyte.

Oil will eventually go back up and then the frackers will come back.

Russia's flooding the market with oil is like the guy who took poison and then expected the other guy to die.

They are literally putting extra money in gas consumers pockets. :-)
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caballero

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Re: Low gas prices
« Reply #8 on: April 03, 2020, 12:14:29 AM »
I think you have misunderstood it. Russia can profit from these prices, you cannot. One of the US economy dangers is its liquidity, to which the Federal Reserve continually puts in huge amounts of money. With the little push that Russia has given you, it is very likely that you will hit a good blow, even before we met the covid. It is elegant, without raising noise, a chess movement raising the little finger.  :azn:
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Mikl__

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Re: Low gas prices
« Reply #9 on: April 03, 2020, 12:24:11 AM »
Oil began to fall in price in January (from 63$ to 56$ per barrel) after the outbreak of coronavirus and the ensuing decline in fuel demand. The failure of negotiations on the extension of the OPEC+ agreement on March 6 provoked a new round of price reductions. If on March 4, the Brent barrel was at 51$, then in five days - a little more than 34$. in response to the decision of Saudi Arabia to increase oil production and provide discounts to customers. Saudi Arabia and Israel are the best friends of the USA. Whatever the Saudi princes would do or decide, they will always explain to you that this is for the good of the USA.
But from the US point of view (Magnum), Russia will be to blame for all sins.

HSE

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Re: Low gas prices
« Reply #10 on: April 03, 2020, 01:44:31 AM »
Saudi Arabia ... Russia
To gift petroleum is a very expensive strategy. Only have sense (or half sense) because coronavirus drop oil demand (low volumes make that strategy not so expensive). But it's just a delay for new fracking projects (Vaca muerta),  perhaps more important for deep sea projects (in Brazil), I think. 
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aw27

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Re: Low gas prices
« Reply #11 on: April 03, 2020, 02:17:22 AM »

mineiro

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Re: Low gas prices
« Reply #12 on: April 03, 2020, 03:10:58 AM »
Saudi Arabia continue selling oil in american dollars, others don't.
I read news that the Russian currency lost 20% in value against the pound due to the low price of oil. I particularly like free competition, if the Russians are selling oil at a lower price it is up to others to do it too or they will lose market share. I don't like Putin but I like russians. I don't like Xi but I like chineses.

Prices in Brazil have decreased but have not yet reached retailers, gas stations will probably never lower prices. When the price of oil decreases, all production of consumer goods decreases, but that is not what I see in this phase of the corona. The Brazilian oil company decreased production.
Until the sale price is low, feasible, but the governors of each state stipulate the final price and with this the price is inaccessible, despite following the foreign market.

During the military period in Brazil, they created ethanol, a biofuel (98% alcohol) made from sugar cane. Every time we were going to improve then the price of oil went up and we were stagnant. Car manufacturers at the time were remnants of World War II such as Italy (Fiat, Iveco), Germany (Volks), USA (Ford, Chevrolet), UK (Volvo). Mercedes Benz, Audi, Pegeout, Alfa Romeu were rare, only for the rich. In the 90's there was a revolution and Japanese, Russians, South Koreans entered the market.
Chilean wines, Argentine meats, fruits and vegetables from Latin America began to appear in supermarkets. The problem with Brazil is that it is a country that still prefers vicious trade over virtuous trade, very closed to new products, the intention is to benefit and protect local producers even if you have to pay more.
Brazilian gasoline usually has 27% alcohol, that is, it becomes less energetic. At least we don't stop when a new oil crisis occurs in the foreign market.
I'd rather be this ambulant metamorphosis than to have that old opinion about everything

Mikl__

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Re: Low gas prices
« Reply #13 on: April 03, 2020, 03:20:02 AM »
Quote
and all Putin wants is destroy the US shale oil industry
hi, AW!
That's right, and Putin, and Andrés Manuel López Obrador, and Emmanuel Jean-Michel Frédéric Macron, and  Felipe VI de Borbón y Grecia also want to return:
  • to Russia -- Alaska and Hawaii
  • to Mexico -- Texas, California, New Mexico, Arizona, Nevada and Utah
  • to France -- Montana, Dakota, Nebraska, Iowa, Missouri, Kansas, Arkansas, Oklahoma, Colorado, Wyoming and Louisiana
  • to Spain -- Florida
And also we will help you choose Trump for the second time. This is the most truthful truth . . .

caballero

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Re: Low gas prices
« Reply #14 on: April 03, 2020, 04:03:24 AM »
> And also we will help you choose Trump for the second time. This is the most truthful truth. . .
 :biggrin: Yes, lately Russia has been blamed for almost everything.

Particularly I like Russians and Putin too, I have no data to think otherwise. I do not know if the issue we are dealing with has been a strategic choice by Putin, if it had been he has not done anything different from what others do.
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