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Gas prices.

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Re: Gas prices.

Postby meow on Fri Dec 05, 2014 4:04 pm

Well written article. If you had to take away one sentence:

U.S. producers have had years to hone techniques that lower costs and increase output, making major cutbacks less likely than ever.


There are enough plays in the US, and enough companies that operate in multiple plays, that they will shift money toward the cheaper to produce areas if times get tough enough.
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Re: Gas prices.

Postby King Sid the Great 87 on Fri Dec 05, 2014 5:54 pm

Does the anti-fracking crowd feel dirty for enjoying the current price at the pump?
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Re: Gas prices.

Postby columbia on Fri Dec 05, 2014 6:22 pm

King Sid the Great 87 wrote:Does the anti-fracking crowd feel dirty for enjoying the current price at the pump?


It's both a supply and a demand issue. Global oil demand is down because of the (poor) economic performance in Europe and China.
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Re: Gas prices.

Postby dodint on Fri Dec 05, 2014 8:29 pm

But what about the cartel conspiracy? ;)
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Re: Gas prices.

Postby meow on Fri Dec 05, 2014 10:00 pm

Fracking is more of a natural gas process than a oil process.
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Re: Gas prices.

Postby shafnutz05 on Fri Dec 05, 2014 10:37 pm

Lancaster County has the lowest gas prices I've seen in Pennsylvania, at least in the places I've visited. Right now, it's about $2.75 here...when I was back home in Altoona, it was closer to $2.89. It's a little cheaper in MD too.
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Re: Gas prices.

Postby columbia on Fri Dec 05, 2014 10:40 pm

meow wrote:Fracking is more of a natural gas process than a oil process.


¯\_(ツ)_/¯
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Re: Gas prices.

Postby PensFanInDC on Fri Dec 05, 2014 10:53 pm

shafnutz05 wrote:Lancaster County has the lowest gas prices I've seen in Pennsylvania, at least in the places I've visited. Right now, it's about $2.75 here...when I was back home in Altoona, it was closer to $2.89. It's a little cheaper in MD too.


$2.60 at Costco right now. I'm saving about $12 a week from about 2 months ago.
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Re: Gas prices.

Postby blackjack68 on Sat Dec 06, 2014 12:19 am

$2.49 in south Jersey
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Re: Gas prices.

Postby PensFanInDC on Sat Dec 06, 2014 12:40 am

Yeah but they keep your credit card.
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Re: Gas prices.

Postby King Sid the Great 87 on Sat Dec 06, 2014 5:18 am

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Re: Gas prices.

Postby meow on Sat Dec 06, 2014 6:43 am

Those Articles are all well and good, but I'm not going to read what they have to say. We frack to release the gas from the formation. If oil comes up with the gas, sweet, more profit. Very few oil specific wells are fracked because it isn't necessary to drill horizontally for them. The majority of oil specific wells are vertical and not in need of tracking.
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Re: Gas prices.

Postby King Sid the Great 87 on Sat Dec 06, 2014 8:22 am

40% of US oil production is from tight oil, which is extracted via fracking. This new found supply is what is driving down prices at the pump. You can't dismiss it just because of your claim that fracking is done more for nautral gas.
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Re: Gas prices.

Postby columbia on Sat Dec 06, 2014 8:37 am

Image
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Re: Gas prices.

Postby Sam's Drunk Dog on Sat Dec 06, 2014 9:24 am

$2.61 in Bradenton.
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Re: Gas prices.

Postby dodint on Sat Dec 06, 2014 12:19 pm

Hey, look. A reason to live in OKC:

Image

Off the top of my head I believe columbia wins this graphic.
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Re: Gas prices.

Postby columbia on Sat Dec 06, 2014 12:22 pm

I filled up at $2.25 last weekend in SC.
And the prices have dropped since then.
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Re: Gas prices.

Postby dodint on Sat Dec 06, 2014 12:23 pm

You also win because SC might be the only livable place on that graphic. ;)
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Re: Gas prices.

Postby columbia on Sat Dec 06, 2014 12:24 pm

Grunthy lives in OK, I believe....not that I would ever be caught dead in that state. :pop:
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Re: Gas prices.

Postby dodint on Sat Dec 06, 2014 12:27 pm

He doesn't seem that bad. ;)

My step-sister and her husband moved to OK. Thus, my step-mom has been harping on my Dad about moving from PA to OK. He's having none of it. :lol:

Anyway, gas prices, yes. We're at about $2.39 here in WI. Now that I'm seriously in the market for a diesel truck, regular unleaded tumbles.
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Re: Gas prices.

Postby ville5 on Sat Dec 13, 2014 6:36 am

I've heard recently on a talk show that a major reason for the drop is China's production of oil. I believe the guy said they are now a net exporter? Meaning they sell more than they buy. He also said the ungodly amounts of oil they were importing are now saturating the market. And prices aren't going back up anytime soon.
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Re: Gas prices.

Postby skullman80 on Sat Dec 13, 2014 7:39 am

In jersey for the weekend.... Gas under 2.40$ in some places.
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Re: Gas prices.

Postby columbia on Sat Dec 13, 2014 7:49 am

If you own energy stocks - and you probably do if you have a broad based US investment fund - they are taking a total beating this year:
http://portfolios.morningstar.com/fund/holdings?t=VDE

So...pick your poison, I guess.
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