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CNN: Gas For Less Than $2 Is Now Widespread

Van Basten

Van Basten

Black Is Smart
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Gas for less than $2 might not be good news
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It was a good weekend for drivers to fill up. Cheap gas spread across the nation faster than holiday cheer.

After a weekend of price cutting at stations, gas for less than $2 can be found in 13 states across the country. Two weeks ago there was only one gas station in the country selling gas that cheap.

Data from price tracker GasBuddy.com shows that three states -- Oklahoma, Louisiana and Ohio -- have at least one station each selling regular gas for less than $1.90 a gallon. Cheap gas is most frequently found at stations in Oklahoma, which was the first state to break the $2 a gallon mark on Dec. 3.

Another ten states -- Alabama, Arizona, Colorado, Indiana, Mississippi, Missouri, Nebraska, New Mexico, Texas and Virginia -- also have gas for less than $2.
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Falling demand for oil due to economic slowdowns in Europe and Asia, as well as more fuel efficient vehicles, are major reasons for the fall in oil prices. But increased U.S. oil production, which took the nation past Saudi Arabia as the world's largest source of crude earlier this summer, is another major factor, as is a strong dollar.

With OPEC so far unwilling to cut production in order to prop up prices, some forecast that oil could fall to near $40 a barrel at some point in 2015. That would drive gas prices down even more and make gas for under $2 a gallon common at stations across the country.
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[SOURCE]

Won't last long, but still mildly interesting.
 
I am going on a cross country road trip thanks to lower gas prices. Seems to me it could promote travel and spending.
 
Thanks Obama.

This Nation is light years ahead of where it was six years ago economically .
 
Thanks, OBAMA.
 
Not to mention increased Christmas spending due to low gas prices .
 
NIMBY said:
Thanks Obama.

This Nation is light years ahead of where it was six years ago economically .
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Because Obama is pumping all that oil in the Dakotas. :roll:

We currently have a oil price war going on Between the US, Russia and the Saudis. The Saudis are trying to drive oil prices bellow a level that Fracking and Russian oil can make a profit. It's great in the short run, but I wouldn't be cheering the robustness of an economy that depends on such a price war to look healthy.
 
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Well, it's nice to see that the "Thanks Obama" meme can be used semi-seriously by those that support the POTUS in as stupid of instances as those who oppose him use it.

:roll:

Love to see the gas prices falling, and I'm not really too worried about the stock market reacting badly too it at the moment. Ultimately, lower prices will have a net positive impact on our economy I think. More money in peoples pockets in a general sense is going to be a good thing.

Investiment in new fracking endevours will probably slow as the profits won't be as high, but hopefully that investment will just transition into other realms of the energy sector. And those setups that are already working wll continue to work.

Even if the price stabelizes, just having more and more of our oil potentially coming from ourselves as opposed to overseas...specifically from the middle east...will definitely be a beneficial thing in terms of our national stability.
 
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Someone told me they saw $0.84 per litre at Cost Co the other day... amazing.
 
Van Basten said:
Jobs are threatened at that.

You don't want gas prices too low, it's all about balance.
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The whole story is that while a couple thousand jobs are being lost, far more are being created. Lowered cost to transport goods lowers prices, which increases sales, which creates jobs. Don't get sucked into the "bad news is our business" media hype.
 
Amadeus said:
Thanks, OBAMA.
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Private leases and increased drilling on existing leases are what created this glut. VERY few new fed. leases were issued in the last 6 years as compared to previous years. This happened in spite of the President, not because of him.
 
Van Basten said:
[SOURCE]

Won't last long, but still mildly interesting.
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Actually, cheap gas will be with us for at least a couple of years.

1) The US is now the world's biggest oil producer, after Saudi Arabia.

2) China is in a bad recession, and is importing less oil because of it.
 
danarhea said:
Actually, cheap gas will be with us for at least a couple of years.

1) The US is now the world's biggest oil producer, after Saudi Arabia.

2) China is in a bad recession, and is importing less oil because of it.
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Sans America, the global economy looks like ****.
 
Van Basten said:
[SOURCE]

Won't last long, but still mildly interesting.
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I think it's great and will help the retailers in this Christmas season, as well as the economy in general.

Yeah, I know that it's not going to last. But makes we want to buy a 1/2 dozen 55 gallon drums and fill them up as an emergency supply. Could treat it with Stabil from the get go for keeping it fresh.

Next time gas goes over $4 / gallon, I could sell it for slightly less, or use it myself.
 
faithful_servant said:
The whole story is that while a couple thousand jobs are being lost, far more are being created. Lowered cost to transport goods lowers prices, which increases sales, which creates jobs. Don't get sucked into the "bad news is our business" media hype.
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What they are really saying is that lower prices leads to less taxes which means less money to fund the socialist agenda. Has nothing to actually do with business which will still be taxed at an exorbitant percentage rate, that percentage while the same will be a lesser dollar amount.
 
DVSentinel said:
What they are really saying is that lower prices leads to less taxes which means less money to fund the socialist agenda. Has nothing to actually do with business which will still be taxed at an exorbitant percentage rate, that percentage while the same will be a lesser dollar amount.
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Even that's off base, since gas taxes are based on $/gallon. Lower gas prices = more driving = more gas consumed = more gas taxes collected.
 
NIMBY said:
Thanks Obama.

This Nation is light years ahead of where it was six years ago economically .
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Yes blacks on food stamps have doubled.
Murder is up.
Drug use is up.
Poverty is up
Wall street is alive and well despite Obama's claim to bring it down and let Main street take over...........where the hell is Main street?
 
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