DiD I HEAR THIS RIGHT?????!!!! GAS TO GO DOWN TO LESS THAN A BUCK A GALLON???

Bro, can you speak up, please? Can't hear you.

I remember gas being less that 50 cent a gallon but that was before Jimmy Carter set up OPEC to fund through the Arams the Mujaheeden to oppose the soviets in afghanistan. oh yeah, good old jimmy carter. they tried that crap with nixon and he opposed it and almost got killed because of it.

The Deflation stage before the great shitstorm of the century!!!!!

Everything you need to know!!!

Thread: The Grand Finale Pt. III: Janet Does Davos (latest update p. 195)

As a retail price that will be hard to do as in most states there are about 50 cent a gallon in Federal, state and local taxes included in each gallon pumped.Then Obama wants to add about another 20 cents a gallon in taxes to that.

So at less than 50 cents a gallon retail, for just the gasoline itself,, that would be at a price below their production and operational costs.

very scary stuff. I wonder if the announcement is just to add to hype. would they collapse before the elections?

You probably heard the RBOB wholesale price.

Currently $0.95/gallon on the Futures market

[link to www.cmegroup.com]

Get ready for a tax hike.

Gas was already above $.50 in the early 70s during the first oil embargo when Nixon was president; I'm fairly sure it was already above $.70, at least where I lived.

Cheapest I ever paid for gas was .87 cents a gallon when I first started driving in the late 90's. Scary shit, you know things are bad when the oil man could be reaming us with $4,5 dollar a gallon prices but the bad thing is that then cracks would start to show because people can't afford that every day and things would kick off a lot quicker so they're keeping prices low to try to put lipstick on the pig and keep folks from freaking out.

Can someone explain why cheap gas is bad?

In Case You Missed It: Obama Just Proposed Raising the Federal Gas Tax 136%:

It's all happening so fast, it's hard to keep up with all the b.s. coming out of the president and his White House in his last year.

In case you missed it, Obama just proposed raising the gas tax to what would amount to 136%.

By proposing a $10 per barrel tax on every barrel of oil produced in the U.S., Obama wants to add a 25 cent gas tax on every gallon of gas you purchase at the pump. He wants to use it to pay for his green transportation initiatives.

Considering federal gas tax is 18.4 cents a gallon currently, this would mean a whopping 136% increase. When state taxes are considered, we will be paying 70 cents in tax on every gallon of gas.

While a 25 cent increase per gallon may not seem like a lot considering how low gas prices are at the moment, just consider how much we would all feel it if/when prices go back up to what they were a few years ago. The cost of everything will go up even more in this country, especially food.

Obama knows this fact. He's the one who pointed it out actually.

As Daily Caller reported, Obama was just telling us all a few years back how much gas prices have the ability to harm everyone in the country, and especially people who are poor and just trying to make ends meet:

Obama told Georgetown University students in a 2011 speech that "rising prices at the pump affect everybody - workers, farmers, truck drivers, restaurant owners, students who are lucky enough to have a car."
cont

[link to www.freerepublic.com]

Just proves they were raping consumers for years.

.50

And for that matter why isn't the price of groceries going down???

Not necessarily bad, merely an indicator of the state of the economy, a leading indicator.


Deflation wrecks economies, look it up.

California will still be paying $2.25/gal. while the rest of the US pays .98 Thanks libs!

It was 88.3 here tonight.

I haven't seen in that low in years.

Should be, it's lower than it was years ago when it was that price. Our greedy ass gas station owner keeps his 15-20 cents higher than all surrounding station.

Obama isn't an oil rig owner, therefore.... (yea, dude sucks ass)

Soon

THEY WILL BE PAYING *YOU* TO FILL UP YOUR TANK!

(storage is THAT tight!)

I think what you heard is bullsh!t. Obama is planing to push a $10.00 per barrel tax on gasoline imported into the country and I'm sure the companies will just pass on that expense to the consumers.

Winn-Dixie just lowered their prices.
Whether to compete with Walmart or to pass on the lower cost to produce and deliver or a combo of both.
Like others have said, first deflation followed by hold onto your hats, hyperstagflation.

I think as soon as Iraq fixes the Mosul problem, gas will go back up quickly. ...so stock up if you can. Probably go back up in a few weeks.

I read today that Iran's goal is to get oil to 8 dollars a barrel.

thats a good target and where it should have been all along
crude is useless mud till its refined, would you pay anything for mud?

Its a sign of overall lack of demand at the international level and a weak worldwide economy that's slowing even more. Its probably going to get ugly later this year.