will it go under $2
Senior User
Joined: Nov 2007
Posts: 146
Likes: 0
Good for you!
Reality is, I need to live off my net worth. My net worth drops around $5000 for every 10 cents per litre drop in gas prices. Yup, the market is dropping because of the weak oil prices, but the good news is the market will eventually seek equilibrium and if lower prices is the new reality, the rest of the market will adjust, (eventually).
As to high prices at the pump, I hope everyone realizes that $1.00 CDN/Litre is the equivalent of more than $4.00 US/gal. It has been as high as $1.40 CDN/L, so now we think we're getting a deal.
European prices are even higher. Strange thing at our pumps is while gas has plunged, diesel remains at around $1.22 CDN/L. If fuel costs truly were tied to the price at the wellhead, we should be paying the same price as the last time oil was $60 per barrel. Sadly we are not.
As usual, we, the consumer are being had!
Time to go get fitted for my tinfoil hat.
Reality is, I need to live off my net worth. My net worth drops around $5000 for every 10 cents per litre drop in gas prices. Yup, the market is dropping because of the weak oil prices, but the good news is the market will eventually seek equilibrium and if lower prices is the new reality, the rest of the market will adjust, (eventually).
As to high prices at the pump, I hope everyone realizes that $1.00 CDN/Litre is the equivalent of more than $4.00 US/gal. It has been as high as $1.40 CDN/L, so now we think we're getting a deal.
European prices are even higher. Strange thing at our pumps is while gas has plunged, diesel remains at around $1.22 CDN/L. If fuel costs truly were tied to the price at the wellhead, we should be paying the same price as the last time oil was $60 per barrel. Sadly we are not.
As usual, we, the consumer are being had!
Time to go get fitted for my tinfoil hat.
Bleed Ford Blue
Joined: Apr 2009
Posts: 13,578
Likes: 157
From: Anchorage Alaska
I'm starting to get nervous about the outlook of my job in the later half of '15 and all of '16. Hell the purchase orders i have from large oil companies all have a clause that they can pull out of the contract any time...millions of dollars worth of work. It can get a person on edge pretty quickly, combined with the fact our state is basically run off oil.
As oil prices fall, so do Alaska budget hopes | Local News - KTUU.com Anchorage
As oil prices fall, so do Alaska budget hopes | Local News - KTUU.com Anchorage
Hotshot
Joined: Nov 2008
Posts: 15,014
Likes: 35
From: Semper Fi tell I die!
I'm starting to get nervous about the outlook of my job in the later half of '15 and all of '16. Hell the purchase orders i have from large oil companies all have a clause that they can pull out of the contract any time...millions of dollars worth of work. It can get a person on edge pretty quickly, combined with the fact our state is basically run off oil.
As oil prices fall, so do Alaska budget hopes | Local News - KTUU.com Anchorage
As oil prices fall, so do Alaska budget hopes | Local News - KTUU.com Anchorage
change may be a comming to alaska again. just like mid 80s boy did the house values drop then! it was crazy no one had money to buy, save up now so you be ready to get some real estate it will go back up in 10 to 20 years again. then sell..its a good investment.
people were actually walking away from their homes and heading back to the lower 48. thats the time to have some cash to snap um up!
Super Moderator
Joined: Aug 2003
Posts: 25,479
Likes: 742
From: Isanti, MN
I'm starting to get nervous about the outlook of my job in the later half of '15 and all of '16. Hell the purchase orders i have from large oil companies all have a clause that they can pull out of the contract any time...millions of dollars worth of work. It can get a person on edge pretty quickly, combined with the fact our state is basically run off oil.
Now whether or not there is enough money for them to buy trucks at the pace your company needs to avoid downsizing is another question.
Hotshot
Joined: Nov 2008
Posts: 15,014
Likes: 35
From: Semper Fi tell I die!
I'm starting to get nervous about the outlook of my job in the later half of '15 and all of '16. Hell the purchase orders i have from large oil companies all have a clause that they can pull out of the contract any time...millions of dollars worth of work. It can get a person on edge pretty quickly, combined with the fact our state is basically run off oil.
As oil prices fall, so do Alaska budget hopes | Local News - KTUU.com Anchorage
As oil prices fall, so do Alaska budget hopes | Local News - KTUU.com Anchorage
well this should help ya out!
Obama White House declares Alaska's Bristol Bay off-limits to oil and gas | Alaska Dispatch
out of a job maybe.
Bleed Ford Blue
Joined: Apr 2009
Posts: 13,578
Likes: 157
From: Anchorage Alaska
I can understand the concern Russ. But remember that Alaska's oil industry has existed longer than high oil prices have. No doubt there will be an adjustment as the market seeks equilibrium, but I'm sure they will still be making oil in Alaska.
Now whether or not there is enough money for them to buy trucks at the pace your company needs to avoid downsizing is another question.
Now whether or not there is enough money for them to buy trucks at the pace your company needs to avoid downsizing is another question.
My concern is the first thing that happens when this type of dip happens is they start using old equipment longer and not buying new stuff...this is where my concern lies.
Postmaster
Joined: Nov 2012
Posts: 2,806
Likes: 8
From: Langley, BC
I was out of work because of the drop in price. I was drilling out in Alberta. It's funny because when I left to go there I was nagging my friends about how the prices there were $1.10/L and back home it was $1.45. When I came back home after losing out on the job, it was $1.10/L. That was September. Now I pay 99c/L, which is a fantastic deal but is still too much. It's the equivalent of you guys paying just barely under $4 per gallon.
Post Fiend
Joined: Apr 2004
Posts: 6,473
Likes: 4
From: Lafayette, IN
Well, back to the original question in the subject line. It's under $2/gallon here at many stations as of the past few days.
Jason
Jason
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Post Fiend
Joined: Apr 2004
Posts: 6,473
Likes: 4
From: Lafayette, IN
Not so much. The closest station to me (<1 mile) is $1.989 for gas, and $3.539 for diesel (a Meijer station that is about 1/4 mile from the interstate).
Jason
Jason
Hotshot
Joined: Dec 2006
Posts: 14,069
Likes: 17
From: Melbourne, Ky
When you get a chance, notice the prices of diesel at a Truckstop. The DOT guys get a price break. Usually 20 to 30 cents cheaper.
Post Fiend
Joined: Apr 2004
Posts: 6,473
Likes: 4
From: Lafayette, IN
Jason