Price of gasoline and other fuel is tumbling

[Old Cardinal]

I went down to the local Conoco three times now and paid $172.9, pump price per gallon. With the 3% Conoco discount Mastercard card, that knocks off 5.2 cents-- that gives a grand total of $1.67 7/10 per gallon! That discount was total $2.60 cents(on 50 gallons) off a fairly cheap fuel price in my opinion......Wonder who is going to get the praise for prices going down; we know who got the blame for prices going up?

What has happened is that good management and skilled workers in the USA refining business and transmission business have done a great job in directly dealing with a short term supply problem. Now if the whole industry will be allowed to develop domestic potentials and known reserves; we can soon not be relient on foreign oil imports. Pseudo-Environmentalist have been killing us but real Environmentalist, keen on developing those God given resourses are the ones-- really in natural resource production that are the better Stewards of the earth. COMMENTS?

[Sans Couth]

Old Card,

I think the short term (next 100 years or so) goal should be to explore the Alaskan Tundra, and the West Coast for more oil. I however think the long term goal should be to spend some of the tax on our energy supplies, in research and development of a positive alternative to oil. ie: nuclear energy.

On a side note: Correct me if I am wrong, but isn't nuclear energy the most efficient energy source that is at this time known to man? With enough R&D my money says we can make it safer. If it is good enough to propell our sailors around the world, it shoud be good enough for the rest of us.

[HighSchool Fan]

Originally posted by Old Cardinal
Pseudo-Environmentalist have been killing us but real Environmentalist, keen on developing those God given resourses are the ones-- really in natural resource production that are the better Stewards of the earth. COMMENTS?

I have to agree, I haven't heard one good reason not to drill for oil in ANWAR. I don't recall hearing how the Alaskan Oil Pipeline has hurt the enviroment.

[KTJ]

yeah, i got a few dollars worth yesterday and it was $1.79 at the HEB off of Parmer and 35.

[Ray_BearKat]

In Kingsville I got gas for 1.75

[Old Cardinal]

I agree on alternative energy! I bought some stock in an efficient solar panel breakthrough company and it is really climbing. I don't think that using government taxes is the answer, except where Companies can deduct some of their cost when they have applied for and received a viable patent.
I got a kick out of a picture that came out about a year after the Great Alaskan pipeline(P. Bay)...Is showed muskoz, raindeer and caribou with their rumps up against the warm pipelines and sheltered behind storage tanks breaking the frigid wind and trying to derive a little warmth from the structures!
If you know of alternative energy breakthroughs please let me know; likewise, I can give you a little info on the Co. that I purchase that has devised a continuous run of silicon film production that is extra cost efficient in making solar energy a cost-efficient reality.

[Pudlugger]

I read an interesting article that discussed the abiogenic theory of oil creation. Traditional thinking has been that ions ago plant and animals (dinosauers and insects, trilobites etc.) were covered by sudden aluvial events and under pressure and heat cooked into oil and gas- the biogenic theory. Now, however recent oil discoveries in Russia have given support to a competing theory that proposes oil and gas are in fact produced deep in the mantle of the earth under the intense conditions of heat, pressure and molten minerals and that it percolates up into basins were we discover it on drilling. This means that oil and gas is much more plentiful than we thought and in fact a replenishable resource. If this theory is correct we may never run out of oil so keep buying those safer SUVs and pickup trucks folks. Hard cheese eh?, Ralph Nader.:D

[slpybear the bullfan]

My philosophy is to buy every ounce we can of foreign oil today... and explore and find as much of our own oil for recovering tomorrow.

Sans,

Nuclear energy is very efficient, but still goes a long way towards being cost effective. The systems required for safely claiming megawatts are still expensive.

As far as electrical power goes... it will be a while before someone finds anything cheaper and cleaner than natural gas... 23 new power plants were started in Texas last year. Every one of them is powered by natural gas. And by the way, Texas produces more than any other state.

[Old Cardinal]

I am somewhat familiar with abiogenic theory.....I read an article in a Chemical Engineering magazine that supports an almost proven theory that Methane is created deep underground by a mode of organic chemistry that is alien to what has traditionally been taught??? That is why the super deep wells of the Gulf of Mexico are hitting mass pockets of Natural Gas. British Petroleum Corp. is digging a series of wells in Wyoming that are going to be the deepest wells ever!

[slpybear the bullfan]

OC,

Check the figures for the Barnett Shale field here in North Texas. I think it moved into first place last year for largest estimated storage in the 48 states...

[Sans Couth]

While I agree that nuclear energy is not at the moment cost effective, I believe that some day it CAN be.

In 1969 the computers that NASA used to put a man on the moon were not as powerfull as the one sitting under my desk right now, and this one can be purchased for less than a thousand dollars. I somehow think it probably cost NASA more than that. Research and Development is a wonderful thing.

[Old Cardinal]

I knew the Barnett Shales was the largest in TX but did not know it was now the largest proven reserve in the USA!
I bought a little stock in Devon Energy about the time Fred Gruendan ask for stock info here on 3 A Down Low.....If you can find out who the Companies are that are doing all the fracing of the wells, I would much appreciate the info....There has got to be some big profits derived for those stockholders in the future. I think that this treatment with Nitrogen and water laden with anatonic surfactants and also the alternate physical sand and highpressure water jetting will bring some great profits over the coming years. The field is vast and there for the taking.

I believe in a just and loving God who will provide all of the resources that we will ever need. Remember in the 60s & 70s we were susposed to run out of every natural resource? Well that just did not happen, everything we need to upgrade civilization is available to us, but sometimes we have to search a little to find it.

[bullfrog_alumni_02]

the oil problem is all bureaucratic(sp). there is nothing from stopping a company, chevron and citgo for example, from getting together and saying hey, why dont we compromise w/ our prices and have it stay at about $2.00. the only thing from stopping this is the gov't, and if the corporations say to whomever, "we'll give you $500,000.00 for your campain." (or however much) then the gov't is pretty much bought and will "overlook" this little incident and let it slide. so this keeps the campaigns funds up, the corporations get their money, and get richer while the average joe, you and me, get hit in the wallet.

[ej2525]

OC,

I filled up in Bridge City today after I left my mother's house for $1.72/gallon. The station on the corner of Kibbie & TX Ave. I saw the price & I pulled in right away and tried to put as much as possible in my tank & wish I has an extra gas can handy to get more. Keep on coming down with those prices.

[Sans Couth]

Originally posted by bullfrog_alumni_02
the oil problem is all bureaucratic(sp). there is nothing from stopping a company, chevron and citgo for example, from getting together and saying hey, why dont we compromise w/ our prices and have it stay at about $2.00. the only thing from stopping this is the gov't, and if the corporations say to whomever, "we'll give you $500,000.00 for your campain." (or however much) then the gov't is pretty much bought and will "overlook" this little incident and let it slide. so this keeps the campaigns funds up, the corporations get their money, and get richer while the average jow, you and me, get hit in the wallet.

Where do you get these ideas?

[bullfrog_alumni_02]

Originally posted by Sans Couth
Where do you get these ideas? to be honest w/ you i spoke to a friend tonight/last night at chow and he explained it too me. if you hear the whole thing it makes a little more sense.

[Old Cardinal]

EJ 2525: Glad you had a chance to visit home. That was the Conoco that I was talking about....This morning I noticed that two other local stations were lower on regular 171.9 and 170.9

Last Poster Your friend at chow has kind of reminded me of what I heard today a lunch at CiCi's Pizza. I ask the manager if his establishment was a publicly held Company or a privately held company and here was his answer...."They decided to stay private-- as I understand it; had they gone public they would have to move these local prices up and down to reflect the changes of our stock on the stock market" Seriously that was the answer-- LOL he he he LOL

[spiveyrat]

We've seen a decrease of $0.27 per gallon here over the last 3 weeks.

[slpybear the bullfan]

OC,

I know that good ol Haliburton is one of the biggies up here... I will find out who all the players are.

My Dad runs an OilField Construction business right now. More work than you can imagine... You know what they say... "When the patch is good, it is REALLY GOOD."


Originally posted by Old Cardinal
I knew the Barnett Shales was the largest in TX but did not know it was now the largest proven reserve in the USA!
I bought a little stock in Devon Energy about the time Fred Gruendan ask for stock info here on 3 A Down Low.....If you can find out who the Companies are that are doing all the fracing of the wells, I would much appreciate the info....There has got to be some big profits derived for those stockholders in the future. I think that this treatment with Nitrogen and water laden with anatonic surfactants and also the alternate physical sand and highpressure water jetting will bring some great profits over the coming years. The field is vast and there for the taking.

I believe in a just and loving God who will provide all of the resources that we will ever need. Remember in the 60s & 70s we were susposed to run out of every natural resource? Well that just did not happen, everything we need to upgrade civilization is available to us, but sometimes we have to search a little to find it.

[Old Cardinal]

Great Information! Please try to find the small frac companies that are making big gains--that are on the stock market.

It is amazing, I reluctantly gave out some info on self-directed investment techniques and now have some good friends that are trying to learn some basic ins & outs. I might develop a series on basic country boy stock research, again.....Someone did ask about alternative energy paradigm shift stocks---and I will give you one-- Evergreen Solar Inc. Symbol ESLR... I believe if I were young and had a few hundred dollars to spare I would look at this one for the longterm investment potential.
You may want to look over Lexington Resourses.... Symbol LXRS They are doing flooding under old coal beds to get the Natural Gas out...Its cheap to do and these wells are a good steady profit potential....Thanks again
P.S. You can take a Symbol and enter it on Google with Quote right behind it and a small amount of info is available....

[spiveyrat]

Originally posted by spiveyrat
We've seen a decrease of $0.27 per gallon here over the last 3 weeks.

Make that $0.34 now.

[BullFrog Dad]

Originally posted by Old Cardinal
EJ 2525: Glad you had a chance to visit home. That was the Conoco that I was talking about....This morning I noticed that two other local stations were lower on regular 171.9 and 170.9

Last Poster Your friend at chow has kind of reminded me of what I heard today a lunch at CiCi's Pizza. I ask the manager if his establishment was a publicly held Company or a privately held company and here was his answer...."They decided to stay private-- as I understand it; had they gone public they would have to move these local prices up and down to reflect the changes of our stock on the stock market" Seriously that was the answer-- LOL he he he LOL OC, Here's what I feel is being said by bullfrog_allumni_02 and his fellow soldier. The oil companies periodically manipulate the prices to create a new floor/ceiling on prices. They raise prices until consumer tolerance runs out. This time ceiling was established at two o something dollars. The floor now stands at 1.69 roughly. Go back to late Spring of 2001. Prices shot up to high 1.70's. Everybody screamed. Prices dropped short term then gradually rose and stabilized. Before the recent price gouge cost of a gallon of premium unleaded was high 1.70's. Gorsh Mickey!!! The new standard: premium-high 1.80's-mid 1.90's, mid-grade-high 1.70's-low 1.80's, regular-high 1.60's-low 1.70's. Print this for future reference children!!!

[Sans Couth]

"They raise prices until consumer tolerance runs out."

This is how the price of everything in this country is set. Not just gasoline.

Tombstone pizza would be 2 for 11 bucks at Wal-Mart if the consumer tolerance would allow it. As it is they are 2 for 7 bucks which is expensive for frozen pizza.

[BullFrog Dad]

Originally posted by Sans Couth
"They raise prices until consumer tolerance runs out."

This is how the price of everything in this country is set. Not just gasoline.

Tombstone pizza would be 2 for 11 bucks at Wal-Mart if the consumer tolerance would allow it. As it is they are 2 for 7 bucks which is expensive for frozen pizza. Sans, You kinda' have a point but frozen pizza is not considered a daily routine necessity. Let me explain, Tombstone, Red Baron, et al decide to gouge Frozen Pizza prices, hee hee hee, sorry I lost control. Anyway, the consumer opts for Frozen Burritos instead or soup or shrimp cocktails, whatever. Gasoline on the other hand stands alone with no options and is a "Daily Routine Necessity". That explains that "Special Affection" the consumer just experienced from our Friendly Oil Companies!!! Like I said, a new price floor/ceiling for gas has just been established.

[Old Cardinal]

Wow, we have some interesting issues here--Sans, I agree with you--the whole free enterprise system is contingent on just what you said!! On the statement "The oil companies periodically manipulate the prices to create a new floor/ceiling on prices" kind of left me reeling for a moment. The last time I heard that statement was during the Jimmy Carter Administration, when we were in double digit inflation because the presses were running wide open and the currency was collapsing at a rapid rate...Sure gas prices along with everything else was going straight up! That is when the Democrates tried to pass the buck by saying "Oil companies periodically manipulate the prices to create a new floor/ceiling on prices." They were able to dupe a few into believing that theory but most folks finally saw it for what it was--government induced inflation, not the oil companies. I respect your opinion sir; however, for me there has been elements of our population that have falsely manipulated our free enterprise system into CURTAILING-- domestic refining, use of whole territories laden with hydrocarbon, shut down basic exploration, and have forced a deeper dependency on mostly middle eastern super rich Kings and Shieks. The kicker is all the while a robust economy is demanding more oil.

Now I can believe a DWF or even a Region III conspiracy on this website ; but the free enterprise machinery does not allow for creating "new floor/ceilings on prices": not when there are hundreds of economic/engineering complicated schemes and competitive supply/demand issues that are at play to create the workable free enterprise intricate system that we operate under. :thinking:

[Sans Couth]

If you think the US can live without frozen pizza you are living in a dream world:D

I am here to tell you guys. The big nasty oil companies are not the bad guys. Gasoline at 2 bucks a gallon is CHEAP compared to other products. Some of us are just spoiled when it comes to something to bitch about.

I for one find it ironic, when someone complains about spending an extra 4 bucks to fill their tank, but at the same time they will take their kids into the convienience store and buy four 20 oz cokes for $1.19 a pop, and four bags of Doritoes for $.99 a pop, and then tell the guy behind the counter they want two packs of "Marlboro Reds" for 4 bucks a pack.

12 Gallons of gasoline $22.44

12 Gallons of gasoline ten years ago $14.28



Two packs of smokes, four cokes, and four bags of chips $18.10

Two packs of smokes, four cokes, and four bags of chips TEN MINUTES AGO at Wal-Mart 10 bucks.

[BullFrog Dad]

Originally posted by Old Cardinal
Wow, we have some interesting issues here--Sans, I agree with you--the whole free enterprise system is contingent on just what you said!! On the statement "The oil companies periodically manipulate the prices to create a new floor/ceiling on prices" kind of left me reeling for a moment. The last time I heard that statement was during the Jimmy Carter Administration, when we were in double digit inflation because the presses were running wide open and the currency was collapsing at a rapid rate...Sure gas prices along with everything else was going straight up! That is when the Democrates tried to pass the buck by saying "Oil companies periodically manipulate the prices to create a new floor/ceiling on prices." They were able to dupe a few into believing that theory but most folks finally saw it for what it was--government induced inflation, not the oil companies. I respect your opinion sir; however, for me there has been elements of our population that have falsely manipulated our free enterprise system into CURTAILING-- domestic refining, use of whole territories laden with hydrocarbon, shut down basic exploration, and have forced a deeper dependency on mostly middle eastern super rich Kings and Shieks. The kicker is all the while a robust economy is demanding more oil.

Now I can believe a DWF or even a Region III conspiracy on this website ; but the free enterprise machinery does not allow for creating "new floor/ceilings on prices": not when there are hundreds of economic/engineering complicated schemes and competitive supply/demand issues that are at play to create the workable free enterprise intricate system that we operate under. :thinking: "It didn't happen, it can't happen. I'll wake up and everything will be back to normal." Sorry Old, Sans it happened and will happen again every 3-4 years. Maybe the next time the Oil Companies will kiss you.

[JasperDog94]

Are we all forgetting that all this time that the price of oil has been rising?

[Old Cardinal]

I might just beat the oil companies and go kiss them first!...Right now they are all responding to the demand for fuel across the USA. In our area(Port Arthur and Sabine Pass), an innovative company is now building giant receiving and storage facilities for mega-high pressure barges for incoming natural gas. The Barnett Shale oil and gas field is needing more re-work and jackup rigs to put a great energy field into the fuel pipeline of America! Jobs are being created everywhere to fill this need! I saw where 1.000.000 jobs have been created in 3 months and 12 days! We can solve the problem and it will be a giant spin-off with folks getting more payroll--that is what free enterprise is all about. As for me, I will stick a little discretionary funds into Initial Public Offerings in Oil Patch startup supply and construction companies and as a risk-taker, I may just own a small portion of a Company that helps make a difference for both the economy now, and the future economy for my grandchildren. Likewise, I may also increase my net worth so that I can buy more IPOs and Secondary offerings in other problem-solving ventures(which are really opportunities)!. It's great to be an USA citizen that can benefit by a short-term supply shortage and a hungry demand situation. Ain't it great to be an American, both for every individual and the can-do Corporations that they created too!

[Sans Couth]

I am with you Old Card.

Those that are too lazy to be innovative complain.

Those that are part of this great machine we call Capitalism endeavor to persevere.

It is a great time to be an American. I see the same kind of innovative spirit on the horizon that our mothers and fathers experienced a hundred years ago. There is a bright future ahead, thanks to the fact that there are people ready to roll up their sleeves and jump in. Thank God the entire country has not fallen into the mindset of the gloomed and doomed.

[bullfrog_alumni_02]

i agree too, i still think the corporations are out to make money and take it from the small guy, but am still see the American way of life persevering through this and coming out on top. w/ all the hard working blue collar folks in the land, and the next wave of engeneering, physics, science and new frontiers opening up our country will simply do as it always has, climb to the top and achieve new and greater heights.

[Old Cardinal]

B A 02:

I agree with you-the corporations or out to make money and take it from the small guy....There are several other tiers however; to take it from the small guy they have to provide food, services, medicene,clothing, fuel, transportation, shelter, etc: Likewise these same corporations provide wages and salaries so that the small guy can have the funds to be taken for the sake of services and commodities that they desire.
Corporations are not evil, by definition they are "A legal enitity created by law" Yes, people can be evil that are in corporations at the top or at the bottom but we have a legal system that when it is working right is a viable check and balance.

[bullfrog_alumni_02]

true o c, and im glad the enron scandle ended in a horrific way for them, so it shows the corporations who are bad that they wont always get away w/ the bad they do (when they do something bad such as launder money from their company) but the big money corporations also have alot of pull in polotics since they have large sums of money to "donate." im not saying donating money is bad or anything, i just wish the corporations would realize they dont need to make their prices sky rocket, because its only making the value of the dollar that much less because the next guy is gonna have to raise his prices such as milk, or bread to keep up and be able to pay his hard working employees to live and eat and provide shelter for his family.

[Old Cardinal]

Someone wanted to know the Company that I was talking about that is contracted to construct the Liquified Natural Gas import facilities all along the Texas Coast....It's CHENIERE ENERGY INC. with a sympol of LNG...I bought $2500 a little while back and its at $3400 now...Also a stock with a possible potential for the aggressive investor is Cal Dive International Inc. They do the construction and mainly demolition work on the deep rigs out in the Gulf symbol CDIS......If you just like to read about a company with a very unique nitche, look up-- CWCO I have owned it a long time and keep buying more....

[Old Cardinal]

That same Conoco station had gas at $168.9 today! With my Three percent Conoco Discount Mastercard that made in $ 163.8 a gallon....Guess CNN is going to praise Geo W. Bush for the gas going down in price: they blamed it all on him when it was rising!

[spiveyrat]

Originally posted by Old Cardinal
That same Conoco station had gas at $168.9 today! With my Three percent Conoco Discount Mastercard that made in $ 163.8 a gallon....Guess CNN is going to praise Geo W. Bush for the gas going down in price: they blamed it all on him when it was rising!

I haven't heard a story on the news about gas in over a week. It fits the template. If it hurts Bush, run the story non-stop. If it helps him, bury it!

[BullFrog Dad]

.

[rockdale80]

Originally posted by Old Cardinal
That is when the Democrates tried to pass the buck by saying "Oil companies periodically manipulate the prices to create a new floor/ceiling on prices." They were able to dupe a few into believing that theory but most folks finally saw it for what it was--government induced inflation, not the oil companies.


so what is it now? now that gas is as expensive as it is?

[Old Cardinal]

Mr. Stafford: I saw gas at 166.9 at a Murphy USA this morning-- with a 5% off on my Citi Card or even a 3 cents off on my Wal-mart card or I can go down the Conoco and get a 3% off on my Conoco Mastercard---I consider gas as quite cheap.
I guess some folks even the ones that crybaby about not drilling the massive offshore potential fields on the Pacific coast and east of Florida and babble about a giant state-size area of Alaskan tundra as not a viable place to also get cheap oil are being unrealistic. Fuel is a bargain when you consider that the bleeding-heart Liberals have stopped the expansion of Hydrocarbon refining and slowed production in the USA for 20 years now. You can't crybaby all the time and have extra cheap transportation infrastructure that is operable!

[rockdale80]

Originally posted by Old Cardinal
Mr. Stafford: I saw gas at 166.9 at a Murphy USA this morning-- with a 5% off on my Citi Card or even a 3 cents off on my Wal-mart card or I can go down the Conoco and get a 3% off on my Conoco Mastercard---I consider gas as quite cheap.
I guess some folks even the ones that crybaby about not drilling the massive offshore potential fields on the Pacific coast and east of Florida and babble about a giant state-size area of Alaskan tundra as not a viable place to also get cheap oil are being unrealistic. Fuel is a bargain when you consider that the bleeding-heart Liberals have stopped the expansion of Hydrocarbon refining and slowed production in the USA for 20 years now. You can't crybaby all the time and have extra cheap transportation infrastructure that is operable!


whatever....exactly what you say is typical propoganda. if it is something good happening in the world it is the good of the republicans...if it is something bad it is the democrats....all i know is in 1999 the price of gas was 89 cents a gallon. And guess what happened in 2000. go ahead and say it was the republican congress, but look what we have now. all that changed was the party of the president. and i am not crybaby nothing. just defending my cause just like you do. go ahead. blame the democrats. we control nothing now. :thinking:

[Old Cardinal]

Mr. Stafford: I saw gas at 166.9 at a Murphy USA this morning-- with a 5% off on my Citi Card or even a 3 cents off on my Wal-mart card or I can go down the Conoco and get a 3% off on my Conoco Mastercard---I consider gas as quite cheap.
I guess some folks even the ones that crybaby about not drilling the massive offshore potential fields on the Pacific coast and east of Florida and babble about a giant state-size area of Alaskan tundra as not a viable place to also get cheap oil are being unrealistic. Fuel is a bargain when you consider that the bleeding-heart Liberals have stopped the expansion of Hydrocarbon refining and slowed production in the USA for 20 years now. You can't crybaby all the time and have extra cheap transportation infrastructure that is operable!

[football4life]

well im not sure about all these other issues we've got going around on this thread, im just pissed my gas is still at $1.89, yet 30 miles down the road in another town the gas is right around $1.70, how exactly does that work?