Do you think this will lower the price of gas?
 

The long awaited survey of arctic oil and natural gas reserves was released today. Here's the link to the U.S.G.S. news release with a link to even more details.
http://www.usgs.gov/newsroom/article...;from=rss_home

Re: Do you think this will lower the price of gas?
 

John...........Didn't you see where our "Elected" Officials said that Drilling for more Oil won't make any Difference LOL.............Seems like the "Only" Place where the Laws of "Supply" and "Demand" doesn't seem to make any difference is with them........But.....Again.......They are much "Smarter" than we are.......Aren't they????

Ken

Re: Do you think this will lower the price of gas?
 

Ever notice when the price of gas goes up overnight on the world market,we see an immediate increase at the pump the next day..But when the price of gas goes down overnight,they say we won't begin to feel that decrease at the pump for months.. http://forums.serverbeach.com/images...mashfreakB.gif

Re: Do you think this will lower the price of gas?
 

Saw an article online today (analyst prediciton stuff) that said that gas could be down to $3.50 by labor day.

Found it: http://cbs2chicago.com/local/gas.pri....2.778351.html

I'll believe it when I see it, of course.

Re: Do you think this will lower the price of gas?
 

Me too, 427,....out here in the people's republic of California, with boutique blends of gasoline designed to meet different emission standards for different parts of the state, I'd be happy with $4/gallon by Labor Day.

Re: Do you think this will lower the price of gas?
 

[ QUOTE ]
Me too, 427,....out here in the people's republic of California, with boutique blends of gasoline designed to meet different emission standards for different parts of the state, I'd be happy with $4/gallon by Labor Day.

[/ QUOTE ]

Wow, I don't feel too bad if someone is hoping for $4.00 by Labor Day. I just saw $3.98 a gallon today. https://www.yenko.net/ubbthreads/imag...s/headbang.gif https://www.yenko.net/ubbthreads/imag...s/headbang.gif https://www.yenko.net/ubbthreads/imag...s/headbang.gif

Re: Do you think this will lower the price of gas?
 

Until the oil companies decide to replace imported oil with domestic oil this won't make much difference.
Domestic crude oil production has been cut in half since 1970 and has been replaced by imported oil. I suspect until the last couple of years, it was cheaper to buy foreign oil instead pumping it out of US soil...

If you want to get educated in oil production, refinement, importation, capacity, history etc. go here, it's very informative:
Energy Information Administration

Mike

Re: Do you think this will lower the price of gas?
 

Retailers really don't make much on a gallon of gas, that's why they hold the prices when fuel goes down and increase them immediately when the price goes up. An independent retailer may make ten cents per gallon, when a credit card company charges them 3% of the cost of a gallon of fuel they cut into that margin by about 100%. Retail fuel sales is a tough business, they need to have you buy all the inside the store items to make it because they don't make much on the fuel.

Re: Do you think this will lower the price of gas?
 

Watch this!!http://youtube.com/watch?v=UOpcPfAarjY

Re: Do you think this will lower the price of gas?
 

Somebody make above clickable?