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garyh, henlovestoys, JimT
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Price of Oil Below $8.00 #747360 04/20/2020 4:49 PM
by Alex
Alex
I don't want this to become political....just did some quick math on the price of gas and inflation. When I got out of college in 79 gas was about $1.00 a gallon. That same dollar today has the buying power of about $3.56, or about twice what a gallon of gas is around here now. That means that gas at $1.80 is about the equivalent of $.50 cents in 79....or about $.42 in 77. In 77 I was paying about .50 a gallon. So we are paying "less" for gas than in 77. So, for all us gas guys who have said, "I wish the price of gas is the same as I have found displayed on old pumps"....we are about there. My son is a petroleum engineer in the Baaken in North Dakota. Lots of wells have been "shut-in. Storage is maxed out, people aren't driving as much and the oil wars in the Middle East...lots of lost jobs in the US and Canada.....
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Re: Price of Oil Below $8.00 #747371 Apr 20th a 06:54 PM
by BrianH
BrianH
It's hard to believe that these same gas companies that were making BILLIONS in profits back in the great recession in 2008-2010 didn't hoard some of that cash to cover times like this. Anyone in that industry knows it's very cyclical....high highs and really low lows.
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Re: Price of Oil Below $8.00 #748361 May 8th a 11:52 AM
by Ohio Oil
Ohio Oil
I drove a Tesla not long ago ... called the Ludacris? edition.

0-60 in like 3 seconds ... fastest car off the line I've ever driven ... lots of bells and whistles too.

But, just not my taste.

If the price of oil stays low it's gonna slow the impact of electric cars. Lots of politics involved as well.

Back to the price of gas and some of the other comments ... when I had my station inthe 80's we sold self serve and full serve gas ... my average pool profit per gallon was .25 a gallon which was unheard of. I wasn't afraid to inflate my full serve price because we gave genuine full service to every customer.
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Re: Price of Oil Below $8.00 #748322 May 7th a 11:35 PM
by Gasman84470
Gasman84470
All my acquintances that have them, rave about them and in some cases are on their second version of a Tesla car. I personally have no experience in owning one.
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