Gas Prices dropping? Not In Utah... - Page 11

Hemidakota · #**101** (**permalink**) 10-16-2008, 02:17 PM

Oil settles $4.69 lower to $69.85 a barrel - lowest price in more than 13 months - as economic slowdown spooks traders.

JohnBirchSociety · #**102** (**permalink**) 10-16-2008, 03:27 PM

Quote:

Originally Posted by Hemidakota

Oil settles $4.69 lower to $69.85 a barrel - lowest price in more than 13 months - as economic slowdown spooks traders.

With prices this low it is not economically viable to drill in new areas. That, of course, will mean that Government will have to foot the bill, because we must drill for more oil or we won't get out of our foreign dependence rut.

How ironic.

There is a nearly immediate (3-5 years) solution to this nonsense. Construct a ton of Nuclear Power Plants so that all the electrical needs of the United States are met by Nuclear Power. Nuclear Power in the United States has proven itself to be the safest form of energy ever devised by mankind. In going Nuclear for ALL of our electricity we would eliminate our dependence on unsavory nations for oil.

30% of our oil consumption is Transportation based. We could eliminate most of that with Nuclear Electrical generation. The electricity could power our vehicles. There'd be no "gas" stations. You'd "fill-up" at home, and pay just an electric bill. This would be much cheaper, and much more environmentally friendly than any other solution. It is available to us right now!

I'm not T. Boone Pickens, so I didn't finance this message, and there won't be any commercials about it (because it would actually solve the problem)...

Hemidakota · #**103** (**permalink**) 10-16-2008, 03:44 PM

I don't think that is a correct statement overnight in replacing gasoline.

Our country uses about 21.5 million barrels of oil per day. Our net drill is less than 6-million barrels per day. What is a true viable option John to make up the differences?

Right now, the refineries are running at 73-percent and along with oil output has been reduced to keep this artificial pricing. This data can be analyzed on the EIA website when you review past history and comparing to the number of tapped wells and refineries production. OPEC will need to make another attempt to again cut back on world-wide delivery of crude to keep up the artificial pricing level. However, at this point, the consumer had enough and thus will be done in vain when the market is clearly learned to move to other energy resources.

My concern is not seeing the price of retail gasoline falling fast along side with the drop of crude future spots to a normal wholesale gap pricing. Incredibly, when you see the wholesale gasoline going for 1.81 a gallon, what is the normal profit for any given retailer to make from this deal? The past reveals differently….

As our Asian partners crying out in today’s media, this global recession was caused by GREED.

Moksha · #**104** (**permalink**) 10-16-2008, 03:55 PM

Quote:

Originally Posted by pam

Which station Moksha...Cuz my station is really close to the freeway in Draper. As of last night, we were 3.25 a gallon.

May have went down. Anyway its the one on about 300 East. Might be a Holiday Oil. Hope Utah's prices go down to what the rest of the country is paying.

Palerider · #**105** (**permalink**) 10-16-2008, 08:12 PM

today its.....2.68

pam · #**106** (**permalink**) 10-17-2008, 08:01 PM

Well Moksha you went to the wrong Holiday Oil. You need to come to mine. You get Chevron gas for the same price as their Sinclair. Same company. hahahaha Anyway...we went from 3.25 Wednesday down to 3.13 today. We're getting there.