$1.99 GAS!!!!! I NEVER THOUGHT I'D SEE THIS AGAIN!!!! RECESSION FTW???

Originally Posted by icqboy51

lol @ peeps still in the dark.... they aint know that the whole world is in a financial tsunami? and is damn well near a recession?

the gas has been going down for a whole... it will continue to go down unless OPEC disrupt supply in a big way.

yea gas is/ will be cheaper... but there are many other negative things that are coming, which will easily wash away the 'good feeling of cheap gas'. one simple example would be losing your job or not have $$ for X-mas.
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Go make a thread about it son. Don't try to rain on my parade when I'm all happy at the gas pumps.
 
Originally Posted by Living Fresh

You boys enjoy this cheap gas....cause it's going right back up in a few weeks after the election. I'm about to bring the gas cans out and put some on reserve
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Exactly. It's going to go back up, but not as drastic as we're thinking. That's just my 2 cents.
 
I know when I saw it at 2.79 I couldn't believe figured it must have been some one day thing to drive up the gas stations sales. I pulled in there quickfilled it up drove by the next day and was down another 11 cents. Dang it!!!

From what I understand though it's being said that the east and west coast got hit harder by the recession than the mid west did.
 
Originally Posted by lawinnn

Sorry, maybe I've been under a rock or something these past few weeks but, why are gas prices becoming cheaper?
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See, there's thing thing called economy...........


Regular gas here is at like $2.60.
 
Originally Posted by DeeNyce

Originally Posted by TD The God

these oil companies aren't making any profit right now.....you'll see
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stop posting.
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Your Granny!!!


Anyhow, troll....Like I said - this is great now, but once these oil companies start feeling the "squeeze" (theyare already cutting manufacturing down, jobs being lost, etc) of selling gas so low there is going to be a massive increase in gas again,unfortunately
 
Originally Posted by icqboy51

lol @ peeps still in the dark.... they aint know that the whole world is in a financial tsunami? and is damn well near a recession?

the gas has been going down for a whole... it will continue to go down unless OPEC disrupt supply in a big way.

yea gas is/ will be cheaper... but there are many other negative things that are coming, which will easily wash away the 'good feeling of cheap gas'. one simple example would be losing your job or not have $$ for X-mas.
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Working as a cs rep taking complaint for a company that will always have great business and will always have complaints and unlimited overtimeFTW!!!!!!!!!!!!!!
 
The amazing thing is, OPEC did cut supply, and for the first time that I can remember, the supply shock had NO EFFECT. The worldwide negative demand overcameit. Amazing! This really is a historic time. Slowing economies of the world all say "SCREW YOU"! I can't believe OPEC is now trying to"recruit" others to cut supply as well, such as Russia. They won't stop at anything to get prices back up in the market. It will be an amazingday when the dependence on oil is just not really there. I won't be around, but I can just imagine.
 
dmxfury wrote:
The amazing thing is, OPEC did cut supply, and for the first time that I can remember, the supply shock had NO EFFECT. The worldwide negative demand overcame it. Amazing! This really is a historic time. Slowing economies of the world all say "SCREW YOU"! I can't believe OPEC is now trying to "recruit" others to cut supply as well, such as Russia. They won't stop at anything to get prices back up in the market. It will be an amazing day when the dependence on oil is just not really there. I won't be around, but I can just imagine.


Do you think it will last? I mean cutting 1.5 million barrels a day is going to catch up sooner or later.

Who exactly makes up OPEC?
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Originally Posted by TD The God

Originally Posted by DeeNyce

Originally Posted by TD The God

these oil companies aren't making any profit right now.....you'll see
Click to expand...


stop posting.
Click to expand...
Your Granny!!!


Anyhow, troll....Like I said - this is great now, but once these oil companies start feeling the "squeeze" (they are already cutting manufacturing down, jobs being lost, etc) of selling gas so low there is going to be a massive increase in gas again, unfortunately
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http://online.wsj.com/public/quotes/main.html?type=djn&symbol=xom
[h1]Exxon Posts $14.83 Billion Profit[/h1]
Exxon Mobil Corp. reported a 58% increase in third-quarter net income, smashing its own record for quarterly profits, amid a $1.62 billion gain and high oil prices.

The world's biggest nongovernmental oil company had net income of $14.83 billion, or $2.86 a share, up from $9.41 billion, or $1.70 a share, a year earlier.

Excluding the gain from selling natural-gas operations in Germany and a charge relating to Valdez oil-spill damages, earnings came to $2.59 a share. Analysts polled by Thomson Reuters expected $2.38.

Revenue jumped 35% to $137.74 billion amid the price surge, but the figure fell just short of the second quarter's record $138.07 billion.

Crude hit all-time record highs above $145 a barrel in July, but have tumbled more than 50% since then. The price decline is expected to bring an end to a string of blockbuster quarters for the world's oil companies, analysts said.

Earnings at Exxon's U.S. oil-and-gas production unit -- the so-called upstream side of its business -- grew 74% despite a production drop of 8%.

Profits in the refining segment -- the downstream business -- rose 51%, with margins rebounding as crude-oil prices fell as the quarter progressed. Chemicals earnings fell 9.6% on lower volumes.

Exxon, which is based in Irving, Texas, said Hurricanes Gustav and Ike cut into production, but said the majority of its U.S. Gulf Coast operations are "are back on-line or are completing the final stages of start-up."

The company said damage repairs and lower volumes at operations affected by the hurricanes are expected to reduce fourth-quarter earnings by about $500 million.

Exxon continued its ambitious stock repurchasing plan, spending $8.7 billion to reduce outstanding shares by 2.1% during the quarter.

Capital spending has also been surging, rising 26% during the quarter to $6.9 billion. The total for this year is projected to be $25 billion, and the company said Thursday it is holding to that number despite the turmoil in world financial markets.

William Featherston, equity analyst at UBS, said in a note to clients that Exxon Mobil could have flat production over the 2007-2012 period, below the 3% per annual growth the company has said previously it could achieve. "We also expect the pace of share repurchases to fall sharply in 2009 given lower oil prices," he said.

Write to Shirleen Dorman at [email protected]
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$2.99 by my house. Cheapest is Costco for $2.50, but I don't get gas there, lines are too long just to save a couple bucks.
 
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