Gas UNDER $1.00/Gallon in Michigan...

[olroadbeech]

the big oil boys are trying the put the little oil and gas and alternative energy ones out of business. then they can charge whatever they want.

 

[retiredTxfeeder]

My wife works for a large oilfield service company. They have laid off probably 40% of their workforce. Her job is hanging on by a thread. I expect the other shoe to drop any day now. Hope they give her a good severance package at least, lol.

 

[Babagounj]

HAHAH.. are you serious?

More money in the middle class pockets means the more spending they do. Thus, the economy booms.

Less money in the middle class pockets means the LESS spending they do and the economy tanks, IE: GW BUSH.

If you are referring to the oil industry economy, then that is a separate issue, but dont worry, there isnt an oil company going broke anytime soon.

TOS.

http://www.bloomberg.com/news/artic...kota-crude-oil-that-s-worth-less-than-nothing

Flint Hills Resources LLC, the refining arm of billionaire brothers Charles and David Koch’s industrial empire, said it would pay -$0.50 a barrel Friday for North Dakota Sour, a high-sulfur grade of crude, according to a list price posted on its website. That’s down from $13.50 a barrel a year ago and $47.60 in January 2014.
“Telling producers that they have to pay you to take away their oil certainly gives the producers a whole bunch of incentive to shut in their wells,” said Andy Lipow, president of Lipow Oil Associates LLC in Houston.

 

[Babagounj]

http://money.cnn.com/2016/01/18/investing/oil-crash-wall-street-banks-jpmorgan/index.html

 

[moreluck]

http://www.bloomberg.com/news/artic...kota-crude-oil-that-s-worth-less-than-nothing

Flint Hills Resources LLC, the refining arm of billionaire brothers Charles and David Koch’s industrial empire, said it would pay -$0.50 a barrel Friday for North Dakota Sour, a high-sulfur grade of crude, according to a list price posted on its website. That’s down from $13.50 a barrel a year ago and $47.60 in January 2014.
“Telling producers that they have to pay you to take away their oil certainly gives the producers a whole bunch of incentive to shut in their wells,” said Andy Lipow, president of Lipow Oil Associates LLC in Houston.

In Flint you can get water with lead in it too!!

 

[BrownArmy]

And now Iran is pumping up production since they can sell their oil again...it's a race to the bottom!

 

[wkmac]

I saw gas locally for $1.70 yesterday so I got curious as to what gas is priced at when adjusted for inflation.

Around 1970' (give a year or 2 plus/minus) I remember gas at about $.29 a gallon there about so let's use that value and year shall we.

Factoring for inflation and using the year 1970 as the starting point, the equivalent price in 2015' dollars (the latest year on the calculator) is $1.77 a gallon.

Tomorrow's inflation factor lesson, is the Bugatti Veyron adjusted for inflation cheaper than the 1970's Chevy Vega, base price $1895?

Yes boys and girls, at one time you could buy a brand new car for $1895!

 

[wkmac]

And now Iran is pumping up production since they can sell their oil again...it's a race to the bottom!

Just read this at it relates to Iran and oil among other things.

 

[Babagounj]

I saw gas locally for $1.70 yesterday so I got curious as to what gas is priced at when adjusted for inflation.

Around 1970' (give a year or 2 plus/minus) I remember gas at about $.29 a gallon there about so let's use that value and year shall we.

Factoring for inflation and using the year 1970 as the starting point, the equivalent price in 2015' dollars (the latest year on the calculator) is $1.77 a gallon.

Tomorrow's inflation factor lesson, is the Bugatti Veyron adjusted for inflation cheaper than the 1970's Chevy Vega, base price $1895?

Yes boys and girls, at one time you could buy a brand new car for $1895!

Please bring back the pinto .
A 1974 Runabout was my first car .