Gas prices

[beardown28]

Yeah, I was at 1.85 last Tuesday or so, and yesterday I paid 2.29. Takes 6 months to go down 10 cents, rises 45 in a week.

Same here in Lexington. Got down to 1.73, I waited a day to get gas, went back up to 2.30... Not that I'm complaining about 2.30 haha.

 

[Run the ball]

Actually they may stay there for awhile.

I have relatives in North Dakota who have lived in the Williston area for years and the thing about the oil from there is that although it's plentiful, it's expensive to extract. So unless the market hits a certain price point it's unprofitable.

OPEC understands this and so they are setting their prices this low with an eye towards bankrupting the Bakken oil fields.

The problem OPEC now faces is that if at any point, should they again raise their prices high enough, the Bakken will again be profitable and the whole cycle would start over again.

Same thing up here in Canada, aside from the oil sands most of the oil production now is via fracking. All the easy stuff has mostly all been pumped out of the ground.

Personnaly, I say go OPEC and screw the Wall Street types(nothing against you DaaBears) that are a major reason for the prices going up with their little market games.

 

[R_Mac_1]

IL is talking about adding 13 cents per gallon to the gas tax. Iowa is considering adding 10. I live right on the border and they were talking about it on the news the other night.