U.S. gas prices 'crash'

I got gas this morning at $2.84 a gallon. :)
 
TXgolfer said:
Cool, but make sure you consider all results.

Not interested in going into it. I am more than happy to allow everyone to believe as they wish.
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Pretty much another "no response." Enjoy your view from above the rest of us. :sadwave:
 
Of course, the demand for fuel decreases with decreased travel miles by the trucking industry and those who transport natural resources and deliver our consumer products. Lower demand that isn't matched by lower supply should result in lower prices.

Has anyone used the word "speculators" in this thread? Petroleum, crude and refined, is sold on the futures market. Anyone with enough money can buy for some future delivery and then offer that for sale to some buyer, before delivery has to be arranged. That is where speculators play a role.

The oil industry makes up 16.5% of the Texas gross state product and 3.5% of the state’s nonfarm employment. (link) Some sources say that it is nearly 25% of both the Texas & Wyoming economies and Alberta, North Dakota and some other places probably fit in there somewhere. We can be sure that lower price isn't likely to benefit the industry in those states & provinces.

By the way, you might ask yourself: Why doesn't 16.5% of the gross domestic product contribute to more than just 3.5% of the employment? That, I suspect, relates to who it is who makes the most money off of petroleum.
 
VacationGuy234 said:
Excuse me if I don't die right here from sheer joy, has it escaped anyone that gas prices have not fallen below $3.00 a gallon and that people are still paying over $40 a week for gas?
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I just got some gas today and it was $3.55 for gallon. That is still too high for me but I really doubt it will get below $3.00 again.
 
TXgolfer said:
I was pretty clear in post 12.
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If you say so.

I have asked for clarification on how you arrived at that opinion several times. I was polite. I did not resort to namecalling and insults. The answers I got were basically "I know why, but do not wish to spend the time and effort to explain it." I thought I might be overlooking something obvious, but it is a trade secret, apparently. Enjoy the show. I have better things to do.
 
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