Bear Down Wildcats

the real dill wrote:

Longhorned wrote:What we really should do is put the oil market in the hands of the government and run it with taxpayer money. Every driver could fuel up once per week without paying, and each additional time pay a supplement determined by the formula of average gallons per vehicle X current production and transport cost X the current Federal Fund Rate + 8.

Why not just have the government control all money and hand out a weekly petty cash allowance along with whatever additional resources they deem appropriate for that week?

Why not laugh at the joke? Maybe we need a Comedy czar.

gumby wrote:

the real dill wrote:

Longhorned wrote:What we really should do is put the oil market in the hands of the government and run it with taxpayer money. Every driver could fuel up once per week without paying, and each additional time pay a supplement determined by the formula of average gallons per vehicle X current production and transport cost X the current Federal Fund Rate + 8.

Why not just have the government control all money and hand out a weekly petty cash allowance along with whatever additional resources they deem appropriate for that week?

Why not laugh at the joke? Maybe we need a Comedy czar.

Or maybe the original poster hasn't successfully broken the economics/mathematical formula joke barrier.

I blame leaded gas.

$2 a gallon coming soon?

http://time.com/money/3611655/cheap-gas ... er-gallon/

Thanks, um, Obama. Make that, um, lame duck Congress. Or, um, maybe one of those investigations into gas prices finally unearthed something!

Or, this has always been out of the hands of U.S. politics. But that's no fun.

Just filled up for $2.51 at qt. Come down a good 60 cents in just over a month

only cost me $40 to fill up yesterday. 16 gallon tank. sweet.

I know this should be in the energy thread. I have seen many people question what effect low gas prices will have on the industry. Now we know:

US oil and gas well permits plunge 37 per cent in November

Sinking oil prices caused a nearly 40 per cent drop in the number of new well permits issued across the United States in November, pointing to a sudden pause in the growth of the US shale oil and gas boom that started around 2007.

Data provided exclusively to Reuters on Tuesday by industry data firm Drilling Info showed 4,520 permits for new oil and gas wells were approved in November, down 37 per cent from 7,227 in October.

New permits, which indicate what drilling rigs will ..

Read more at:
http://economictimes.indiatimes.com/art ... aign=cppst

This is great for me. My truck gets 11 MPG.

Gas was cheaper in Phoenix than in Tucson last week. I've seen it as low as $2.42 at Arco and $2.54 at Chevron (Indian School Road).

Salty wrote:This is great for me. My truck gets 11 MPG.

Get a better car then

wish taht was near me

Yeah, but they jacked up the price of jerky.

Chicat wrote:

THANKS OBAMA

What is E10? 10% Ethanol?

Merkin wrote:What is E10? 10% Ethanol?

yep

Oil down another 3+% this morning. Below $56 as of right now. Places in SE Houston have $1.99 gas. $2.35 as the place I frequent.

down to 2.28 at the Sam's Club by me

Just don't buy your gas with Rubles.

The Ruble vs our $ is is down 15% today, following 15% last week, and down 40% since the first of the year.

Saudis and Opecker bros deciding not to cut production whack both Russia and the US by pressuring high cost producers.

Big news story today at a gas station I pass every day going to the gym.

http://www.azfamily.com/home/Cheap-gas- ... 28601.html

Waiting an hour.. To save 6 or 7 bucks?

Opportunity costs people!

I filled up my Jeep yesterday (17 gallons almost on the nose) for $40. Happy days are here again!

Put 15 gallons in my car today for $35. Was nice. Still yearning for the 2000-2001 days when I could fill up an entire tank for $20.

ASUHATER! wrote:Put 15 gallons in my car today for $35. Was nice. Still yearning for the 2000-2001 days when I could fill up an entire tank for $20.

$20 in 2000 was worth about $28 in today's dollars. So we are pretty damn close to that already.

I don't bitch anymore when people ask for rides. At one point to fill up my car it would take close to $50, now it's in the low 30s. Now that I think about it I can't even tell you what gas prices are, I use to have it down to a science.

Thanks Obama!

catgrad97 wrote:Thanks Obama!

you mean OPEC? or am I missing some kind of muslim joke?

Republicans blame everything bad in the world in the last 5 years on Obama. So we can pin everything good on him as well.

Yes we can.

ASUHATER! wrote:Republicans blame everything bad in the world in the last 5 years on Obama. So we can pin everything good on him as well.

this is what you're pinning on him?

In Houston, Texas, the first oil industry layoffs have been announced, with realtors there predicting a sharp decline, up to 12 percent, in home sales next year.

Alaska's 2015 fiscal year budget revenue forecast will have to be lowered by almost $2 billion, according to Fitch Ratings, because of the sharp drop in the state's forecast crude prices. That will widen Alaska's budget gap to almost $3.4 billion, Fitch said in a Dec. 11 report.

States such as Texas, North Dakota, Alaska, Oklahoma and New Mexico are all likely to feel strains next year, Wells Fargo Securities municipal analyst Roy Eappen said in a recent report.

Meanwhile, household sentiment in Texas, Louisiana, Oklahoma and Arkansas where memories of the catastrophic 1980s oil crash are still fresh, weakened in October more than any other region, according to a report by Decision Analyst Inc. The Texas-based research company surveys monthly thousands of homeowners in the Census Bureau's nine regional divisions.

The West South Central division, comprising those four states, had seen the strongest growth for four years, but in October survey lagged the rest of the nation, with economic gauges improving in six regions and two recording no change.

"The fact that the economic index is in decline in this region signals that the economy in these oil states is heading for an economic slowdown," said Jerry Thomas, president of Decision Analyst.

Responding to a more than 40 percent drop in crude prices since June, at least a dozen U.S. energy companies have cut spending plans for next year - bad news for states that rely on jobs, wealth and tax income they provide.

As a result, while most states expect a tailwind from cheaper oil and its boost to consumption, it is the oil states' turn to act as a drag on the nation's overall economic growth.



Read more: http://www.businessinsider.com/r-early- ... z3M5BT8OVd

You're blaming Obama for other states' reliance on oil, dill? As its primary economy? Even now?

the real dill wrote:

catgrad97 wrote:Thanks Obama!

you mean OPEC? or am I missing some kind of muslim joke?

where have you been? the "thanks obama" meme is one that's been around for a long time now.


http://imgur.com/gallery/y2NFt

catgrad97 wrote:You're blaming Obama for other states' reliance on oil, dill? As its primary economy? Even now?

I am not blaming him for anything. He literally has zero impact on the situation, aside from bombing Saudi. OPEC is very deliberately trying to crush US shale production. This is being done to us not for us.

His changes to energy policies have had zero impact?

I disagree, at least in the abstract. If he did what Carter did, I would've been as p*ssed at him as my parents were at Carter.

catgrad97 wrote:His changes to energy policies have had zero impact?

I disagree, at least in the abstract. If he did what Carter did, I would've been as p*ssed at him as my parents were at Carter.

We are net importers. We don't really impact the price of oil. OPEC is saying they can take the price down to $40 per bbl. US shale producers lose their margin at $80 per bbl.

The ruble lost almost 20% of its value today and has lost almost half its value since August. Take oil down another $5+ dollars and somebody will have a credit bust.

There is a good chance that bust (even though abroad) would trigger a mini-crash in the US market of say 15%.

There is no evidence the drop in oil prices will effect the US economy as a whole, but that doesn't mean we won't see some serious issues come up. Yes, of course, some state are much more vulnerable.

Most of the US fracking operations are financed with debt. At under $75 bucks a bbl, that debt is no longer solvent.



Interesting read here:

Even the banking industry is starting to smart from some Energy loans done at the peak. Will banks be able to absorb what they have underwritten? This will be another headwind for bank/financial stocks and their ETFs in addition to the flattening yield curve…
Now banks are also being affected, with Barclays and Wells said to face potential losses on an energy-related loan. Earlier this year, the two banks led an $850m “bridge loan” to help fund the merger of Sabine Oil & Gas and Forest Oil, U.S.-based oil companies. Investors, however, balked at buying the loan when it was first offered in June and slumping oil prices combined with volatile credit markets in the months since have scuppered further attempts to sell, or syndicate, the loan, according to market participants. Barclays and Wells declined to comment. With underwriting banks unable to offload the loan to investors, they are now facing losses on the deal as the value of the two oil companies’ debt erodes. Sabine’s bonds were trading above their face value at around $105.25 in June, but have since fallen to $94.25 – firmly in “distressed” territory. Their yield – which moves inversely to price – has jumped from around 7.05 per cent to 13.4 per cent. Rival bankers estimate that if Barclays and Wells attempted to syndicate the $850m loan now, it could go for as little as 60 cents on the dollar.

http://www.361capital.com/weekly-briefi ... -expected/

Why do you think the Republicans were so eager to allow derivatives to be backed by the fdic? A lot of that money is in oil. The small guy is going to go out of business and take many of those funds down with him.

You guys are missing the real important questions here:

If oil and gas continue to be this low, what does this mean for RR and CSM's oil bonus retention slush funds?

CalStateTempe wrote:You guys are missing the real important questions here:

If oil and gas continue to be this low, what does this mean for RR and CSM's oil bonus retention slush funds?

Good catch CST....but don't forget GB........... Do we need to move this to the Football Forum?

Filling up right now for $2.09. Merry Christmas to me.

Filled up today at $0.60 a gallon. Unfortunately, I am filling up in Saudi Arabia.

$2.09 by my house in Gilbert this morning, got to work and the QT clerk said they just went down to $1.99.

I have oil heat at home...I'm loving life this winter.

BMalo wrote:$2.09 by my house in Gilbert this morning, got to work and the QT clerk said they just went down to $1.99.

gas still 2.19 anywhere near me in tucson. sucks.

$1.93 by my house. Too bad we don't need gas!!!

1.99 here in the basin of the sun.

Most of the cheaper places in Tucson are down to 2.06 or 2.07

azgreg wrote:1.99 here in the basin of the sun.

I've seen it at $1.97

Catintheheat wrote:

azgreg wrote:1.99 here in the basin of the sun.

I've seen it at $1.97

Even better.

2.15 at the gas station I drove by today. boooooo