Gulf Oil CEO says gas could hit $1 next year

[Kapt Z]

Originally Posted by bookworm_020

I think that there will be a slump in prices in the near to mid future as the world economy slows and people reduce costs. The fact that there has been a move to more fuel efficient cars and everyone driving less will mean that demand will keep falling untill the world economy starts to pick up.

Agreed. The bonus will be less financial power to the big oil producing guys-Russia, Iran etc.

[subchaser12]

I think it's funny how big oil stopped raping us only after it was clear Obama was going to win and he was talking about "windfall taxes" for big oil.

[August]

Originally Posted by subchaser12

I think it's funny how big oil stopped raping us only after it was clear Obama was going to win and he was talking about "windfall taxes" for big oil.

You do realize that any such scheme would just be passed on to the consumer right?

[subchaser12]

Originally Posted by August

You do realize that any such scheme would just be passed on to the consumer right?

Not for long. The bottom line is the government still holds all the cards in this country. They obviously didn't want to test Obama. They will have to be careful now that Bush made America a socialist state.

[August]

Originally Posted by subchaser12

Not for long.

Any increase in the bottom line, which taxes are a part of, is passed onto the consumer in the form of higher prices at the pump. There is no avoiding it.

[subchaser12]

Originally Posted by August

Any increase in the bottom line, which taxes are a part of, is passed onto the consumer in the form of higher prices at the pump. There is no avoiding it.

Obama isn't going to let corporate America dump all over us like Bush. Under Bush I paid 60$ to fill my tank on a car. Now I pay 27$ and Obama isn't even farting in the oval office yet.

I'm glad you enjoyed paying double at the pumps, I sure didn't.

[August]

Originally Posted by subchaser12

Obama isn't going to let corporate America dump all over us like Bush. Under Bush I paid 60$ to fill my tank on a car. Now I pay 27$ and Obama isn't even farting in the oval office yet.

I'm glad you enjoyed paying double at the pumps, I sure didn't.

You might as well credit Obama with making the sun rise in the morning and be just as accurate in your assessment of the situation.

1. Gas prices are down now because demand is down.
2. Demand is down because the economy is down.

Simple economics.

Trying to blame your troubles on the Corporate boogy man (who probably provided the majority of the stuff around you at the moment) is to ignore reality.