2014 Gasoline Price Forecast

[cabri]

Here we go.

I'm sure gas here will rocket up 30 or 40 cents tonight or more.

1-14-2015

For reference, Indy prices are $1.79-$1.83 in all geographical areas around the city per Gas Buddy (which Dave hates due it showing his flaws )

Looks like a drastic price change happened overnight (as Dave predicted )

Gas Buddy seems to show a $0.02 DROP for the Indy area.

 

[OutHouse]

Last night at safeway, $1.68, with my 30 cent discount I paid $1.39.

Chepest i have ever put 15 gallons in my camry and I bought it new on 2004.

 

[MagickMan]

A local station ran a special promotion today, selling gas at the same price they charged back in 1995 ($1.19), the year they opened. There were no long lines, no mad dash to fill up, basically it was like, "Oh, that's neat". Most people didn't seem to care.

 

[dmcowen674]

It's slash and burn for the Oil Industry.

Notice the rise in revenue.

1-15-2015

http://news.yahoo.com/schlumberger-cuts-9-000-jobs-due-low-oil-222259643.html

Schlumberger cuts 9,000 jobs due to low oil prices



Oil services company Schlumberger Thursday said it was firing 9,000 workers due to plunging oil prices that have forced petroleum companies to cut drilling budgets.


"In this uncertain environment, we continue to focus on what we can control," said chief executive Paal Kibsgaard.


"We have already taken a number of actions to restructure and resize our organization that has led us to record a number of charges in the fourth quarter."

Revenues rose 6.2 percent to $12.6 billion.

 

[Zaap]

Gee, more McOwned dishonesty, purposefully cutting out:

Schlumberger disclosed the job cuts as it reported sharply lower fourth-quarter earnings in the wake of a more than 50 percent fall in oil prices since June. The job cuts account for about 7.5 percent of Schlumberger's global workforce.

Schlumberger's fourth-quarter earnings came in at $302 million, down 82 percent from the year-ago level.

 

[Ketchup]

It's slash and burn for the Oil Industry.

Notice the rise in revenue.

1-15-2015

http://news.yahoo.com/schlumberger-cuts-9-000-jobs-due-low-oil-222259643.html

Schlumberger cuts 9,000 jobs due to low oil prices



Oil services company Schlumberger Thursday said it was firing 9,000 workers due to plunging oil prices that have forced petroleum companies to cut drilling budgets.


"In this uncertain environment, we continue to focus on what we can control," said chief executive Paal Kibsgaard.


"We have already taken a number of actions to restructure and resize our organization that has led us to record a number of charges in the fourth quarter."

Revenues rose 6.2 percent to $12.6 billion.

Articles like this always make me say "sure, but how many thousands of jobs did you get to dish out while you were happily letting people pay twice as much (or more) for the same oil? I do feel bad for people losing their jobs, but I do find it interesting they use the term "fired" in the article. I assume that is for effect.

I really just wish the US had taken the opportunity (which is now behind us) to be independent on foreign oil. But we were too busy selling ours for a profit.

 

[Bitek]

I wonder what the bloodbath in TX and ND is going to look like.

I have to think this is a bit of an overcorrection, but who knows where the bottom truely is

 

[dmcowen674]

Right on cue got the proverbial 30 cent jump in gas prices here.

 

[werepossum]

Right on cue got the proverbial 30 cent jump in gas prices here.

Dude, you seriously need to move south. Gas prices in Chattanooga range from $1.73 to $1.86.

 

[MagickMan]

Gee, more McOwned dishonesty, purposefully cutting out:

He's more of a lying scumbag than the oil "thugs" ever were.

 

[MagickMan]

Gas Buddy is showing a .15 hike in Indianapolis, but only in one suburb at a handful of stations. McOwned is a pathological liar, so I guess that means .30 for the whole city? What a pathetic PoS. :\

 

[Londo_Jowo]

Articles like this always make me say "sure, but how many thousands of jobs did you get to dish out while you were happily letting people pay twice as much (or more) for the same oil? I do feel bad for people losing their jobs, but I do find it interesting they use the term "fired" in the article. I assume that is for effect.

I really just wish the US had taken the opportunity (which is now behind us) to be independent on foreign oil. But we were too busy selling ours for a profit.

Schlumberger is in the oil field services business and has nothing to do with oil pricing. I think there's going to be many layoffs due to cut backs in the US oil industries including refineries putting expansion plans on hold.

 

[Blanky]

my neighbor just bought a Volkswagen TDI. When gas was so expensive he wanted to buy a diesel bc of miles he drives. Unfortunately diesel has not dropped in price like gas in my area, he seen all those mileage improvements basically be erased. Doh!

It's funny. Gas for me is about $2.70 and diesel a dollar more expensive. But it's been obvious for years from all but the most hardcore of diesel fanboys that gasoline hybrid cars are the way to go. They summarily trounce diesel in north american offerings. Diesel will never amount to anything in passenger cars in this country. There's a reason why so few options even exist.

 

[Ketchup]

Schlumberger is in the oil field services business and has nothing to do with oil pricing. I think there's going to be many layoffs due to cut backs in the US oil industries including refineries putting expansion plans on hold.

Of course it has to with oil pricing (and yes I know what they do.) Lower price equals less profit equals less money for extra employees. I never said they set the price, just that they enjoyed the ride without complaining while it lasted.

 

[Londo_Jowo]

Of course it has to with oil pricing (and yes I know what they do.) Lower price equals less profit equals less money for extra employees. I never said they set the price, just that they enjoyed the ride without complaining while it lasted.

Of course Schlumberger enjoyed the increased business from oil and gas companies increasing/operating more wells and requiring the services they provide. During that time they hired more people to meet the demands, now that the oil and gas companies are shutting down wells the demand for services has decreased and why the layoffs are occurring. These low gas prices help some parts of the economy while hurting others, the bad part is the section that will be hurt is the section that pays high wages.

 

[IndyColtsFan]

Gee, more McOwned dishonesty, purposefully cutting out:

Bwahahahahaha, typical Dave -- leaving out key details but stupid enough to link the article so we can all see them for ourselves. Holy shit, he is dumb.

 

[IndyColtsFan]

Right on cue got the proverbial 30 cent jump in gas prices here.

Really? Not according to this:

http://www.indygasprices.com/

Here's a clue, dumbshit. If you see prices jump around weekends, holidays, etc, don't you think it might be a good idea to do what the rest of us do and fill up early in the week or before the holidays? Waiting until you "know" (and I use that term very loosely in your case) it will be higher to fill up and then complain just shows you're willing to pay the "stupid tax."

Dude, you seriously need to move south. Gas prices in Chattanooga range from $1.73 to $1.86.

He's lying.

 

[IndyColtsFan]

Gas Buddy is showing a .15 hike in Indianapolis, but only in one suburb at a handful of stations. McOwned is a pathological liar, so I guess that means .30 for the whole city? What a pathetic PoS. :\

As of 8:39 this morning, http://www.indygasprices.com/ shows gas prices ranging from $1.77 to $1.83 in all sections of Indianapolis and all prices updated within the last hour. In particular, there are several in that range on the NW side, where McOWNED allegedly lives. Even if you ignore those and look at the trends, gas is cheaper in Indy than a week ago, signficiantly cheaper than a month ago, and far, far, FAR cheaper than a year ago.

Dave is a lying piece of shit who distorts facts, omits key paragraphs/sentences out of articles (see above), and refuses to answer questions and instead blocks people because he is a cowardly little shithead. For some reason, he thinks gas stations owe him something but I guarantee you he won't work for free or less money. I'm not sure why is allowed to post here, as he adds nothing to the forum, is a proven liar, and just causes trouble.

 

[Ketchup]

Of course Schlumberger enjoyed the increased business from oil and gas companies increasing/operating more wells and requiring the services they provide. During that time they hired more people to meet the demands, now that the oil and gas companies are shutting down wells the demand for services has decreased and why the layoffs are occurring. These low gas prices help some parts of the economy while hurting others, the bad part is the section that will be hurt is the section that pays high wages.

Sure. And I do think the reporting sites are interesting.
1. As has been mentioned, the term "fired" was used, where laid off would be more appropriate.
2. Scale was not mentioned either. This company has 126,000 employees, obviously all over the world. Losing 7% of the people at my company would be noticeable, but we wouldn't expect a local news story over the matter.
http://en.wikipedia.org/wiki/Schlumberger
3. And then the reason they gave for the cuts, which is most-likely before the recent price drops would have had such an effect.

 

[Londo_Jowo]

Sure. And I do think the reporting sites are interesting.
1. As has been mentioned, the term "fired" was used, where laid off would be more appropriate.
2. Scale was not mentioned either. This company has 126,000 employees, obviously all over the world. Losing 7% of the people at my company would be noticeable, but we wouldn't expect a local news story over the matter.
http://en.wikipedia.org/wiki/Schlumberger
3. And then the reason they gave for the cuts, which is most-likely before the recent price drops would have had such an effect.

Not sure why the other news site chose to use firing when all the local reporting is saying these are layoffs. As far as what I've heard in the local news Schlumberger was already loosing profits in the 4th quarter of last year and had already begun laying people off then, this is also reported in this article as well.

http://abc13.com/business/schlumberger-confirms-9000-layoffs-coming/476864/

A large number of layoffs are coming at oilfield services company Schlumberger.

The company tells Eyewitness News they're in the process of reducing their workforce by 9,000 jobs. The reduction represents about 7.3 percent of the Houston-based company's total global workforce.

The layoffs started in the last quarter of last year, and will continue through 2015. No word yet on which specific jobs will be affected.

Schlumberger said Thursday it is making the cuts in response to lower commodity prices and anticipated lower spending on exploration and production in 2015. The company recorded a $296 million charge associated with the move in its fourth-quarter results.

The price of oil has plunged in recent months due in part to a surplus of oil. Prices have improved slightly in recent days, but the price for a barrel of oil remains below $50 after spending most of the last four years near $100.

 

[Ketchup]

Wouldn't you hate being laid off in anticipation of something? I suppose the jobs are pretty good money though, in order to make up for such "anticipations."

 

[Doc Savage Fan]

Right on cue got the proverbial 30 cent jump in gas prices here.

You sir, are a one trick pony! How low do gasoline prices need to go before you can smile again?

 

[Genx87]

Guys guys we are on the drive for 5, 5 cents.

 

[dmcowen674]

The Oil Thugs can resume striking up the band:

1-16-2015

http://finance.yahoo.com/news/oil-prices-edge-technical-price-021651448.html

Oil spikes above $50



Brent crude spiked above $50 on Wednesday


Bob Yawger, director of energy futures at Mizuho Securities USA, partly attributed the gains to rising RBOB gasoline futures, which were up 2 percent. "You see gas leading the crude oil to the upside," he said.

 

[Drako]

The Oil Thugs can resume striking up the band:

1-16-2015

Oil spikes above $50

OMG OMG, a $2 spike. We are DOOMED

Meh, no we're not.