News Get ready for $10 oil! - GoFuckYourself.com

brassmonkey · 02-18-2015, 09:57 AM

At about $50 a barrel, crude oil prices are down by more than half from their June 2014 peak of $107. They may fall more, perhaps even as low as $10 to $20. Here’s why.

U.S. economic growth has averaged 2.3 percent a year since the recovery started in mid-2009. That's about half the rate you might expect in a rebound from the deepest recession since the 1930s. Meanwhile, growth in China is slowing, is minimal in the euro zone and is negative in Japan. Throw in the large increase in U.S. vehicle gas mileage and other conservation measures and it’s clear why global oil demand is weak and might even decline.

At the same time, output is climbing, thanks in large part to increased U.S. production from hydraulic fracking and horizontal drilling. U.S. output rose by 15 percent in the 12 months through November from a year earlier, based on the latest data, while imports declined 4 percent.

Get ready for $10 oil!

dyna mo · 02-18-2015, 10:01 AM

gas has gone up ~.50c/gal here in the last 16 days

Harmon · 02-18-2015, 10:04 AM

Quote:

Originally Posted by dyna mo

gas has gone up ~.50c/gal here in the last 16 days

Same.

Rochard · 02-18-2015, 11:20 AM

Quote:

Originally Posted by dyna mo

gas has gone up ~.50c/gal here in the last 16 days

Pretty much the same here.

Zuzana Designs · 02-18-2015, 11:41 AM

Quote:

Originally Posted by dyna mo

gas has gone up ~.50c/gal here in the last 16 days

Same here

Scott McD · 02-18-2015, 11:45 AM

Gas here is still stupidly high. Even with the recent price drop...

Diomed · 02-18-2015, 12:57 PM

2.15 a gallon here for mid.

~Ray · 02-18-2015, 01:00 PM

I never saw it go under $2 gallon here in Vegas

dyna mo · 02-18-2015, 01:03 PM

it's going to jump another significant amount over the next 2 weeks+ also, as refineries shut down for pre-summer maintenance.

tank up now!

Ross · 02-18-2015, 01:07 PM

The gas stations seem to have had enough, they raised prices here over 25% in one day when oil went up 6%. Our lowest was 79.5 cents per litre, its around 87 cents today but it is dropping a lot more slowly the last two weeks than it was in December and January.

MassMarketing · 02-18-2015, 01:09 PM

I wonder if we will actually use less gasoline with all these big freezes the US is getting now. Keeping people indoors.

mineistaken · 02-18-2015, 02:34 PM

Have you been under the rock? Oil is going up for some time.

Harmon · 02-18-2015, 02:55 PM

Quote:

Originally Posted by Ross

The gas stations seem to have had enough, they raised prices here over 25% in one day when oil went up 6%. Our lowest was 79.5 cents per litre, its around 87 cents today but it is dropping a lot more slowly the last two weeks than it was in December and January.

You obviously don't have a clue how things work. Just saying.

brassmonkey · 02-18-2015, 03:03 PM

Quote:

Originally Posted by mineistaken

Have you been under the rock? Oil is going up for some time.

like ive said b4 asshole

i didnt write the article!!

ZeroHero · 02-18-2015, 03:03 PM

damn it, all those wars give results

Dvae · 02-18-2015, 05:36 PM

Another Obama success story. He has successfully wrecked the economy and the icing on the cake is $10 oil.

JJ Gold · 02-18-2015, 05:53 PM

Quote:

Originally Posted by MassMarketing

I wonder if we will actually use less gasoline with all these big freezes the US is getting now. Keeping people indoors.

Most of the eastern U.S. uses heating oil so demand actually goes up during a blizzard.

crockett · 02-18-2015, 09:21 PM

Quote:

Originally Posted by dyna mo

it's going to jump another significant amount over the next 2 weeks+ also, as refineries shut down for pre-summer maintenance.

tank up now!

That was the excuse they used for this recent hike. It took a month to go from 2.50ish down to 1.99, then about 2 to 3 days to go back to 2.40 where it's sat every since.

Anyway oil won't hit $10/barrel. Fracking would be put to a stand still way before that. I think they need a min of $40/barrel to make a profit witch fracking.

ThePrivateBae · 02-18-2015, 09:35 PM

Lower oil prices, yes. I've studied the oil price issue in finance classes for the last year. OPEC has a lot to do with it as they're trying to get U.S companies to close shop. The moment your project starts running at a minimum doors start to close up. It might be a reason why you've seen a little spike in the price of gas (although there may be multiple other reasons).

This could also be a deal between OPEC and the U.S to add more sanctions against the Russians. Deliberate "Sanctions" as the Russian economy relies about 65% on the sale of oil.

ThePrivateBae · 02-18-2015, 09:38 PM

Quote:

Originally Posted by Dvae

Another Obama success story. He has successfully wrecked the economy and the icing on the cake is $10 oil.

What makes you think he wrecked the economy? Where's your proof of him wrecking the economy. Actually if you looks at his term markets have been up. Yes that is partially due to low interest rates, but he ended the war in Iraq, closing the Afghan war, universalized medical insurance, and wants to present 2 years of free community college.

Unlike the previous Presidents who....Went to war specifically for their own benefits, de-regulated the banking system, and militarized the U.S...

What are you smoking on?

02-18-2015, 09:57 AM	#1
brassmonkey Pay It Forward Industry Role: Join Date: Sep 2005 Location: Yo Mama House Posts: 76,986	Get ready for $10 oil! At about $50 a barrel, crude oil prices are down by more than half from their June 2014 peak of $107. They may fall more, perhaps even as low as $10 to $20. Here’s why. U.S. economic growth has averaged 2.3 percent a year since the recovery started in mid-2009. That's about half the rate you might expect in a rebound from the deepest recession since the 1930s. Meanwhile, growth in China is slowing, is minimal in the euro zone and is negative in Japan. Throw in the large increase in U.S. vehicle gas mileage and other conservation measures and it’s clear why global oil demand is weak and might even decline. At the same time, output is climbing, thanks in large part to increased U.S. production from hydraulic fracking and horizontal drilling. U.S. output rose by 15 percent in the 12 months through November from a year earlier, based on the latest data, while imports declined 4 percent. Get ready for $10 oil! __________________ TRUMP 2025 KEKAW!!! - The Laken Riley Act Is Law! DACA ENDED - SUPPORT AZ HCR 2060 52R - email: brassballz-at-techie.com

02-18-2015, 11:45 AM	#6
Scott McD Too lazy to set a custom title Join Date: Nov 2002 Location: Glasgow, Scotland Posts: 67,795	Gas here is still stupidly high. Even with the recent price drop... __________________ I Buy My High Quality Traffic Here, You Should Too!

02-18-2015, 12:57 PM	#7
Diomed Converting like it's 1999 Industry Role: Join Date: Jan 2009 Location: The South Posts: 6,164	2.15 a gallon here for mid. __________________ 10 years of experience in: CHAT SALES - PAID TRAFFIC - CONVERSION - CREATIVES - CONSULTATION

02-18-2015, 01:00 PM	#8
~Ray visit hardlinks.org Industry Role: Join Date: Jun 2003 Location: Las Vegas , Nv >>> [email protected] or icq 94994627 anytime Posts: 18,362	I never saw it go under $2 gallon here in Vegas __________________ Adult Backlinks for Adult Websites - Testimonials Available

02-18-2015, 01:09 PM	#11
MassMarketing TPMN Industry Role: Join Date: Jun 2014 Location: DE Posts: 597	I wonder if we will actually use less gasoline with all these big freezes the US is getting now. Keeping people indoors. __________________ Weekly Payments - 1400+ BizOp, Financial, Sweeps, Nutra Offers and More! https://www.theperformancemarketingnetwork.com/

02-18-2015, 10:01 AM	#2
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 63,950	gas has gone up ~.50c/gal here in the last 16 days

02-18-2015, 01:03 PM	#9
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 63,950	it's going to jump another significant amount over the next 2 weeks+ also, as refineries shut down for pre-summer maintenance. tank up now!

02-18-2015, 01:07 PM	#10
Ross Ik ben een aap Industry Role: Join Date: Sep 2002 Location: Traffic Force Towers, Canada! Posts: 18,874	The gas stations seem to have had enough, they raised prices here over 25% in one day when oil went up 6%. Our lowest was 79.5 cents per litre, its around 87 cents today but it is dropping a lot more slowly the last two weeks than it was in December and January.

02-18-2015, 02:34 PM	#12
mineistaken See signature :) Industry Role: Join Date: Apr 2007 Location: ICQ 363 097 773 Posts: 29,656	Have you been under the rock? Oil is going up for some time.

02-18-2015, 03:03 PM	#15
ZeroHero So Fucking Banned Industry Role: Join Date: Nov 2007 Location: Westbahnhof Posts: 15,336	damn it, all those wars give results

02-18-2015, 05:36 PM	#16
Dvae Confirmed User Industry Role: Join Date: Feb 2005 Location: US Posts: 5,326	Another Obama success story. He has successfully wrecked the economy and the icing on the cake is $10 oil. __________________ . . Arguing with a troll is a lot like wrestling in the mud with a pig, after a couple of hours you realize the pig likes it.

02-18-2015, 09:35 PM	#19
ThePrivateBae Registered User Industry Role: Join Date: Feb 2015 Posts: 24	Lower oil prices, yes. I've studied the oil price issue in finance classes for the last year. OPEC has a lot to do with it as they're trying to get U.S companies to close shop. The moment your project starts running at a minimum doors start to close up. It might be a reason why you've seen a little spike in the price of gas (although there may be multiple other reasons). This could also be a deal between OPEC and the U.S to add more sanctions against the Russians. Deliberate "Sanctions" as the Russian economy relies about 65% on the sale of oil.