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Author Topic: Gas Prices Falling in the US  (Read 4943 times)
sethsethseth
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July 06, 2012, 06:07:07 AM
 #21

Gasoline prices will continue to fall.  The trucking industry, which accounts for 1/3 of all US oil consumption, can be converted to run on natural gas, and Obama has signed legislation to support this.  Natural gas can also be converted into oil very profitably at the current price ratio with GTL technology, and Shell and SASOL competing to build these facilities in the US.  Additionally, the price of solar panels has dropped by 75% in the last three years.  Solar is now competitive with daytime electricity rates, and it will continue to get cheaper.  But putting solar panels on roofs is just the tip of the iceberg.  By mid-century, most of our power will come from space.  Space-based solar panels are much more efficient as the sunlight is 5.5 times stronger in space, and the panels always operate at 100% with no night.  The power will get beamed to earth in the form of microwaves.  Private enterprise will lower the cost of space launch enough to undercut other methods of power generation.  Much to the environmentalist's delight, oil is on its way out.

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July 06, 2012, 01:09:32 PM
 #22

Gasoline prices will continue to fall.  The trucking industry, which accounts for 1/3 of all US oil consumption, can be converted to run on natural gas, and Obama has signed legislation to support this.  Natural gas can also be converted into oil very profitably at the current price ratio with GTL technology, and Shell and SASOL competing to build these facilities in the US.  Additionally, the price of solar panels has dropped by 75% in the last three years.  Solar is now competitive with daytime electricity rates, and it will continue to get cheaper.  But putting solar panels on roofs is just the tip of the iceberg.  By mid-century, most of our power will come from space.  Space-based solar panels are much more efficient as the sunlight is 5.5 times stronger in space, and the panels always operate at 100% with no night.  The power will get beamed to earth in the form of microwaves.  Private enterprise will lower the cost of space launch enough to undercut other methods of power generation.  Much to the environmentalist's delight, oil is on its way out.

I recently read "Private Empire" ( http://www.amazon.co.uk/Private-Empire-ExxonMobil-American-Power/dp/1846146593/ref=sr_1_1?ie=UTF8&qid=1341579850&sr=8-1 ), which despite the name turned out to be a rather level-headed read. Among other interesting tidbits, it outlines Exxon's recent studies into the future of energy, namely, whether they should be looking at alternative energy sources seriously or not. Their conclusion was that everything that could threaten the status quo of fossil fuels as the main source of energy (overwhelmingly by the way, check out some stats for global energy production...) requires several near-miraculous discoveries in the near term.

Now, Exxon isn't exactly unbiased, but still, solar is so small now that even assuming yearly growth rates in the double digits, the industry will be hard pressed to gain more than a few percent of total global energy production within the next few decades, as energy consumption is projected to grow as well...

As for gas prices currently, the news outlets here say it's simply because of the global economic fubar. Consumption is down.

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July 07, 2012, 01:36:50 AM
 #23

There is a difference between profitable to the individual and profitable to a large multi-national organization. I know personally that my energy usage could go way down without significantly affecting my quality of life... and I don't really use that much (relative to the stats I've seen from others). If people were generating their own electricity, and budgeting their activities accordingly, it is possible that "global energy usage" would drop dramatically.

Also, my understanding is that: global economics fubar = consumption down = USD deflation
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July 07, 2012, 06:40:29 PM
 #24

Its complex and its not always easy to value the dollar, but my opinion is that its mostly reduced demand causing the gas prices to fall at the moment...

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July 07, 2012, 08:05:25 PM
 #25

Deflation?  You mean deflation of the money supply?  Sounds unlikely, at least it sure would be unlikely if I had the keys to the printing presses Wink  OK perhaps deflation of that money supply which is drawn on by to the primary purchasers of gasoline, but even that I find difficult to believe. 

Much more likely in my opinion:  price fixing and backroom decisions based on political and generally boring goals (making some extremely rich people even richer).  The major public players in this market are the Pentagon, OPEC, Rockefellers.  Most likely there are some other major players I don't know about. 

If free market microeconomics dominate control of the price of gasoline, can you explain to me the price discrepancy between different European nations (E.g. Germany and Switzerland), between different American nations (e.g. between Venezuela and USA), or between different middle eastern or Asian gas stations?     
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July 09, 2012, 09:42:31 PM
 #26

That's because the oil prices are falling, due to lower demand.

Hey there!
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July 12, 2012, 10:59:16 AM
 #27

Deflation?  You mean deflation of the money supply?  Sounds unlikely, at least it sure would be unlikely if I had the keys to the printing presses Wink  OK perhaps deflation of that money supply which is drawn on by to the primary purchasers of gasoline, but even that I find difficult to believe.  

Much more likely in my opinion:  price fixing and backroom decisions based on political and generally boring goals (making some extremely rich people even richer).  The major public players in this market are the Pentagon, OPEC, Rockefellers.  Most likely there are some other major players I don't know about.  

If free market microeconomics dominate control of the price of gasoline, can you explain to me the price discrepancy between different European nations (E.g. Germany and Switzerland), between different American nations (e.g. between Venezuela and USA), or between different middle eastern or Asian gas stations?      

Looks like the difference is 90% due to taxes and subsides... do you have a good dataset containing historical gas prices for multiple countries? Also in terms of macroeconimics: Why do all of these lines look so similar?





Perhaps rising gas cost increases commodity shipping and mining costs?
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July 15, 2012, 11:12:23 AM
 #28

Gas is RISING again!

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July 15, 2012, 11:23:04 AM
 #29

I love these gas prices!  its time to start drivin the v8 again  Cheesy
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July 15, 2012, 12:37:07 PM
 #30

I love these gas prices!  its time to start drivin the v8 again  Cheesy

You are showing your age. I remember when gas was under $2 a gallon!

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July 15, 2012, 01:24:43 PM
 #31

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Does anyone have an explanation for this? Don't say Obama...

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July 15, 2012, 04:52:31 PM
 #32

I love these gas prices!  its time to start drivin the v8 again  Cheesy

You are showing your age. I remember when gas was under $2 a gallon!

You're making me feel old because I do too.

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July 15, 2012, 05:05:31 PM
 #33

I love these gas prices!  its time to start drivin the v8 again  Cheesy

You are showing your age. I remember when gas was under $2 a gallon!
Lol??
I stopped driving it when it was close to $4
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July 15, 2012, 07:40:48 PM
 #34

I love these gas prices!  its time to start drivin the v8 again  Cheesy

You are showing your age. I remember when gas was under $2 a gallon!

Let me show my age.  I remember when gas was less than $1/gallon.

I also remember when gas first went over $1/gallon:  People were totally freaked out and thought the world was ending.

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July 16, 2012, 03:34:31 AM
 #35

I love these gas prices!  its time to start drivin the v8 again  Cheesy

You are showing your age. I remember when gas was under $2 a gallon!

Let me show my age.  I remember when gas was less than $1/gallon.

I also remember when gas first went over $1/gallon:  People were totally freaked out and thought the world was ending.

My hats off to you sir!

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July 21, 2012, 11:23:32 PM
 #36

I remember when I bought a bike and stopped driving almost anywhere besides work. Best expenditure ever.

Extremely on topic side-note; Gas is back up again, and it's ridiculous.

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July 25, 2012, 06:26:46 PM
 #37

Gas prices are completely accountable for.  I mean look, if you look at it, oil prices are extremely low compared to 40+ years ago.

Just 10 years ago, 1 oz of gold could pay for ~250 gallons, while 1 oz of gold can now pay for upwards of 500 gallons.

Also as we all know, gold is what truly sets the price.

The reason we have rising gas prices is due to a inflationary US dollar from overprinting and nothing truly backing it up, such as gold.

In fact, if you base oil on gold completely as the trading currency, gas prices would have to be above $6.50 a gallon to truly justify the inflation of the US dollar.

We're quite lucky for having the prices this low at the moment.
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July 26, 2012, 01:12:37 AM
 #38

Does anyone have an explanation for this? Don't say Obama...

This happens every time a presidential election is coming up.
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July 26, 2012, 04:24:28 PM
 #39

Seems to me the price of gas has been going down for years...but that's because I price things in silver.  Wink
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July 27, 2012, 02:28:08 AM
 #40

Seems to me the price of gas has been going down for years...but that's because I price things in silver.  Wink

Exactly my point  Wink

Not to mention oil and natural gas probably doesn't come from 100 million year old dinosaurs.  That's a little far fetched since they would decompose to nothing.

http://www.sciencedaily.com/releases/2009/11/091104123032.htm

Also there's a crapload of natural gas in OCEANS on Titan, a moon of Saturn, due to the low temperatures allowing the gas to liquify. There was no life there, was there?

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