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What's the long term prospectus for diving gas prices?

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what will be the price of gas for next 5 years?

  • below $2/gal

  • between $2-3/gal

  • above $4/gal

Results are only viewable after voting.
john-maynard-keynes-economist-quote-long-run-is-a-misleading-guide-to.jpg
 
Flash in the pan. I wouldn't be shocked if prices go back up to where they were by the summer. Either that or cash strapped governments are going to slap carbon taxes on fuel to make up for lost revenue. Whichever comes first. Truth is, we've probably been paying too much for oil over the last five years.

It's bad for the Canadian economy for sure. Low energy prices drive the dollar down. Which in theory should boost manufacturing. Except, a lot of manufacturing has left. A weakening Chinese economy is pushing down demand for other natural resources as well. So all it really does is make everything more expensive for consumers. Going to be tough on people working out in the oil sands as well.
 
Much of this oil price change is the result of Iraq finally getting its shit together and pumping oil. Sure, mostly because they need money to fight ISIS, but so what?
 
It's just temporary, but it might be awhile unless the Saudis do cut production.

Kind of interesting, didn't know that the US currently has a ban on exporting most oil. Opening up exports would help out the frackers although I am not sure who they would sell it to. It would lead to a small price increase in the US if they do it.
 
OILFIELDTRASH said:
Energy pays the bills for me. I'd like oil and natural gas to be reasonable for people to buy it and reasonable enough where we continue drilling for it.
There are a lot of people employed by the energy industry especially in Texas. Losing all those jobs and tax revenue definitely isn't a good thing.
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Changes in the economy hurt certain people, but ultimately energy is like medicine: if it were free the economy would be better; in turn if people never got sick and every nurse and doctor on the planet had no job we'd all be better for it as well. They'd simply do something else.
Already around $1.50 by Opryland.

Already shutting down hundreds of wells in the U.S. and laying off workers.

Price of oil and gas will shoot through the roof before you know it and will be importing the shit from the sand thug people in mass as normal.
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You seem to complain about gas prices when they are low, or when they are high. What exactly about gas would make you happy?
The idea is to lower the price to the point where the cost to produce fuel from fracking and oil shale exceeds the price it can be sold for -- they are at that point now.
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For some. Depending on source, $40-55 is the range of a barrel of oil which about half of US producers will stop pulling it out to break even. Some need it higher to break even, some lower.
 
jpiniero said:
Kind of interesting, didn't know that the US currently has a ban on exporting most oil. Opening up exports would help out the frackers although I am not sure who they would sell it to. It would lead to a small price increase in the US if they do it.
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Unless the price of oil IN the us is significantly lower than the GLOBAL price, the ban accomplishes almost nothing (right now there's a ~$4 spread). And we're more than capable of buying enough SUVs to burn every drop of oil that we produce.
 
Blanky said:
Changes in the economy hurt certain people, but ultimately energy is like medicine: if it were free the economy would be better; in turn if people never got sick and every nurse and doctor on the planet had no job we'd all be better for it as well. They'd simply do something else.You seem to complain about gas prices when they are low, or when they are high. What exactly about gas would make you happy?For some. Depending on source, $40-55 is the range of a barrel of oil which about half of US producers will stop pulling it out to break even. Some need it higher to break even, some lower.
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If energy was free everyone would be driving hummers and full size trucks. We'd quickly deplete reserves and likely completely ruin the environment in our lifetime.
 
i bought 500 gallons and filled up half of the tank on my property. if it goes another 20 or 30 cents cheaper, i will buy another 500.
 
ImpulsE69 said:
That's not what the 'news' is saying. Hybrids dropped last month/this month and SUV's went up. Of course I didn't go out and do my own in depth investigation. Did you? 😛
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Most SUVs and trucks have hybrid options and are a lot more fuel efficient now. Even if there is a spike in SUV sales, they're as fuel efficient as large cars were 10 years ago.
 
brianmanahan said:
i bought 500 gallons and filled up half of the tank on my property. if it goes another 20 or 30 cents cheaper, i will buy another 500.
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I'd love to do that, but alas, no room for tanks. I may stock up my gas cans for mowing season next year, but it may still be cheap at summer, and that's a lot of hassle for a couple bucks.
 
Fritzo said:
Most SUVs and trucks have hybrid options and are a lot more fuel efficient now. Even if there is a spike in SUV sales, they're as fuel efficient as large cars were 10 years ago.
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It helps that most of the SUVs have moved away from truck-based platforms and are now more like tall cars.
 
dmcowen674 said:
Already around $1.50 by Opryland.

Already shutting down hundreds of wells in the U.S. and laying off workers.

Price of oil and gas will shoot through the roof before you know it and will be importing the shit from the sand thug people in mass as normal.
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Where? I'll be in the area later and want $1.50 gas that isn't due to using Kroger gas points.
 
I think it'll last a while still but don't know how long. The real reason for the gas prices is that it's another way of sanctioning Russia who is so dependent on its energy reserves for their economy. Would be interesting to check for sure, but since Russia has started acting up, we've seen the US move to spur its natural gas and oil production big time.
 
OILFIELDTRASH said:
If energy was free everyone would be driving hummers and full size trucks. We'd quickly deplete reserves and likely completely ruin the environment in our lifetime.
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No they wouldn't because any energy that would be "free" would be utilizing something very different from fossil fuels which by their very nature are a scarcity.
 
dullard said:
Short term, gas prices will keep falling to below $2/gallon in the US (possibly down to $1.50 or so) due to massive amount of fracking oil produced here and Canada. But fracking is only a short term event. Fracked wells don't last very long before they dry up, so you have to keep finding new places to frack.
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That's what I've heard. Something about fracking peaking in production very early relative to regular wells and then dropping pretty quickly. This requires constant exploration and new drilling.

mmntech said:
It's bad for the Canadian economy for sure. Low energy prices drive the dollar down. Which in theory should boost manufacturing. Except, a lot of manufacturing has left. A weakening Chinese economy is pushing down demand for other natural resources as well. So all it really does is make everything more expensive for consumers. Going to be tough on people working out in the oil sands as well.
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Seriously. I keep hearing people on TV talk about how this is great for manufacturing in central/eastern Canada. Ummm... a lot of factories closed and moved to the US of A in "right-to-work" states or China. What's left to ramp up?

My money is on this being a blip because of greed. If OPEC can legally jack prices up at some point after this "experiment," why not?
 
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