Looks to me like domestic oil has gotten a little lean and mean and is starting to go blow for blow with foreign oil and guys like the Saudis are stuck because they don't want to raise prices because that would help out countries like Iran that the Saudis don't like. So this might not be an awful thing after all.

I filled up for 1.65 yesterday.  Thats the cheapest I've seen in awhile.

Prices continue to hover around $2.30/gal in my area.  Been that way since summer.

Prices continue to hover around $2.30/gal in my area. Been that way since summer.

$1.80 around here.

$1.67 today

1.85!? Wow, I might never see that number. Good ole Cali!!!

This truly is a slippery slope. People tend to think that we are in the import business when it comes to oil. However we export more oil that any other country. I have friends whose sons just graduated from one of the most prestigious petroleum engineering schools in the country at the top of their class and they can't find jobs.

 

I was an oil and gas attorney and saw the writing on the wall 4 years ago and got out of it. Many of my buddies gave up lucrative private practices to go to work for the oil industry. They are now regretting their decisions.

More downward pressure:  http://www.bloomberg.com/news/articles/2015-12-10/opec-says-crude-production-rose-to-three-year-high-in-november

 

WTI  $36.12

New low...$35.35

 

Local prices for unleaded regular are stuck at $1.67.

This truly is a slippery slope. People tend to think that we are in the import business when it comes to oil. However we export more oil that any other country. I have friends whose sons just graduated from one of the most prestigious petroleum engineering schools in the country at the top of their class and they can't find jobs.

 

I was an oil and gas attorney and saw the writing on the wall 4 years ago and got out of it. Many of my buddies gave up lucrative private practices to go to work for the oil industry. They are now regretting their decisions.

 

 

This was my point earlier, there are winners and losers.  On macro level we are still seeing if positive for economy, but gas savings are being eaten up by higher rents, food prices, taxes, obamacare costs etc.......

 

The story is far from over.

$20 a barrel?

 

http://www.foxbusiness.com/markets/2015/12/11/crude-oil-holds-at-7-yr-lows-on-global-glut/?intcmp=bigtopmarketfeatures

New low:  $34.67

This truly is a slippery slope. People tend to think that we are in the import business when it comes to oil. However we export more oil that any other country. I have friends whose sons just graduated from one of the most prestigious petroleum engineering schools in the country at the top of their class and they can't find jobs.

 

I was an oil and gas attorney and saw the writing on the wall 4 years ago and got out of it. Many of my buddies gave up lucrative private practices to go to work for the oil industry. They are now regretting their decisions.

I don't know where you're getting your information from but the U.S. certainly isn't among the top exporters of crude. Not only that we have been under an oil export ban since the 70's. I'm not an expert on the matter. But I believe you are giving false information.http://m.washingtontimes.com/news/2015/oct/11/obama-stands-firm-against-lifting-us-oil-export-ba/?page=all

I don't know where you're getting your information from but the U.S. certainly isn't among the top exporters of crude. Not only that we have been under an oil export ban since the 70's. I'm not an expert on the matter. But I believe you are giving false information.http://m.washingtontimes.com/news/2015/oct/11/obama-stands-firm-against-lifting-us-oil-export-ba/?page=all

Your correct..I think the ban is ending literally as we speak.

Your correct..I think the ban is ending literally as we speak.

It should be. We'll see what happens when it gets to the OO.

WTI  $35.71 this morning.

 

http://www.foxbusiness.com/markets/2015/12/16/oil-falls-on-us-supply-build/?intcmp=fnhpfbc

 

 

$34.41 this morning

http://www.bloomberg.com/news/articles/2015-12-17/oil-set-for-third-weekly-loss-as-supply-glut-seen-relentless

WTI $33.98

Locally we are still sitting at $1.65 for regular unleaded.

http://www.foxbusiness.com/personal-finance/2015/12/21/nationwide-gas-prices-drop-below-2-gallon-milestone/?intcmp=fnhpfbc

 

 

Same here.

I wish gas was $12 a gallon..............at least from May-Sept. Might keep the wake boarders and jet ski idiots at bay.

14 hours ago, ww2farmer said:

I wish gas was $12 a gallon..............at least from May-Sept. Might keep the wake boarders and jet ski idiots at bay.

Most of them around here have more money than sense anyways. I doubt it would slow down the stupidity much if it all. 

Gas jumped 30 cents a gallon here. Assuming its due to Christmas travel.

Just filled up @ .. 1.95

In town, it's about .20 a gallon cheaper. Safe travels everyone..

The rout resumes: WTI $33.93

Filled my tank for $1.68/gal. Cost me less than 20 bones to fill the tank