Comments on: Price of Oil Down Over $10, Gasoline Prices Keep Dropping http://www.dailyfueleconomytip.com/oil-prices/price-of-oil-down-over-10-gasoline-prices-keep-dropping/ Increase Fuel Economy and Save Money at the Pump Sun, 04 Sep 2011 14:30:58 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Brian Carr http://www.dailyfueleconomytip.com/oil-prices/price-of-oil-down-over-10-gasoline-prices-keep-dropping/comment-page-1/#comment-61672 Brian Carr Sat, 04 Oct 2008 09:55:05 +0000 http://www.dailyfueleconomytip.com/?p=792#comment-61672 Mark, Thanks for the comment, however, please check out the following post to see the relation between oil and gas prices. As you'll see, oil prices climb much faster than gas prices, so it would makes sense that oil prices would fall faster, too. http://www.dailyfueleconomytip.com/oil-prices/oil-down-20-gasoline-down-8-and-this-isnt-a-bad-thing/ Mark,

Thanks for the comment, however, please check out the following post to see the relation between oil and gas prices. As you’ll see, oil prices climb much faster than gas prices, so it would makes sense that oil prices would fall faster, too.

http://www.dailyfueleconomytip.com/oil-prices/oil-down-20-gasoline-down-8-and-this-isnt-a-bad-thing/

]]> By: Mark Goodwin http://www.dailyfueleconomytip.com/oil-prices/price-of-oil-down-over-10-gasoline-prices-keep-dropping/comment-page-1/#comment-61670 Mark Goodwin Sat, 04 Oct 2008 06:09:30 +0000 http://www.dailyfueleconomytip.com/?p=792#comment-61670 What really ticks me off is the fact that oil prices have dropped considerably but gasoline prices are dropping a lot slower. The oil companies are loving their profits and since we're consuming less gasoline than in previous years, they can use this as an excuse for higher prices. I'd also like to comment on the "drill baby drill" attitude. Lets say McCain wins the presidency and states all along the East Coast start building offshore oil rigs. It's probable we may initially see a drop in prices just because of speculators speculating that we're not going to be consuming as much foreign oil, even though the US won't see any native oil for many years. (Also, forget about Alaskan oil. That'll be exported to Asia). However, with global warming comes stronger than usual hurricanes. We see what happens when hurricanes hit. Gas prises rise. What happens when there are thousands of rigs out in the Gulf and Atlantic and we have 10 storms blow through them? It would be fine if they were safe but here's an interesting fact: More than 9,000,000 gallons of oil were spilled as a result of Hurricanes Rita and Katrina. Hurricanes Katrina and Rita alone "totally destroyed" 113 off-shore oil platforms. One platform drifted 66 nautical miles before running aground on a beach in Alabama. Hurricane Dennis in 2005 nearly destroyed the then brand-new, state-of-the-art $1 billion Shell Thunder Horse platform—the largest of its kind in the world. Much of the damage from previous hurricanes was not only to the oil platforms, but to their undersea pipelines that were thrown around by moving seabeds. Also, on average, there is a major oil spill somewhere in the world once every two years. I have a feeling the East Coast will be a gooey mess and our gas prices will barely change. I see a lot of catch 22 scenarios. These are some scary days. What really ticks me off is the fact that oil prices have dropped considerably but gasoline prices are dropping a lot slower. The oil companies are loving their profits and since we’re consuming less gasoline than in previous years, they can use this as an excuse for higher prices. I’d also like to comment on the “drill baby drill” attitude. Lets say McCain wins the presidency and states all along the East Coast start building offshore oil rigs. It’s probable we may initially see a drop in prices just because of speculators speculating that we’re not going to be consuming as much foreign oil, even though the US won’t see any native oil for many years. (Also, forget about Alaskan oil. That’ll be exported to Asia). However, with global warming comes stronger than usual hurricanes. We see what happens when hurricanes hit. Gas prises rise. What happens when there are thousands of rigs out in the Gulf and Atlantic and we have 10 storms blow through them? It would be fine if they were safe but here’s an interesting fact:
More than 9,000,000 gallons of oil were spilled as a result of Hurricanes Rita and Katrina. Hurricanes Katrina and Rita alone “totally destroyed” 113 off-shore oil platforms. One platform drifted 66 nautical miles before running aground on a beach in Alabama. Hurricane Dennis in 2005 nearly destroyed the then brand-new, state-of-the-art $1 billion Shell Thunder Horse platform—the largest of its kind in the world. Much of the damage from previous hurricanes was not only to the oil platforms, but to their undersea pipelines that were thrown around by moving seabeds. Also, on average, there is a major oil spill somewhere in the world once every two years. I have a feeling the East Coast will be a gooey mess and our gas prices will barely change. I see a lot of catch 22 scenarios. These are some scary days.

]]> By: Paul Curto http://www.dailyfueleconomytip.com/oil-prices/price-of-oil-down-over-10-gasoline-prices-keep-dropping/comment-page-1/#comment-61641 Paul Curto Tue, 30 Sep 2008 16:04:14 +0000 http://www.dailyfueleconomytip.com/?p=792#comment-61641 I wouldn't go counting my chickens before they're hatched. There were analysts claiming that oil would go to $400 by Christmas just a few weeks ago. The Hedge Fund managers can do whatever they want to manipulate these prices with trillions of dollars, euros, yen, and yuan to play with in the world's greatest monopoly game. We are victims of the speculators until someone with strength takes power to bring them to justice in the world court. Billions of people are being harmed: many will freeze this winter, many more will starve. The global meltdown will hurt the wealthiest first, but they won't starve. I wouldn’t go counting my chickens before they’re hatched. There were analysts claiming that oil would go to $400 by Christmas just a few weeks ago. The Hedge Fund managers can do whatever they want to manipulate these prices with trillions of dollars, euros, yen, and yuan to play with in the world’s greatest monopoly game.

We are victims of the speculators until someone with strength takes power to bring them to justice in the world court. Billions of people are being harmed: many will freeze this winter, many more will starve.

The global meltdown will hurt the wealthiest first, but they won’t starve.

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