Anyone else hoping gas prices rise again?

No regrets here, my truck & wallet are loving it; well it's like Christmas!

I hope it rebounds some.
I work offshore on boats and have seen a few friends get laid off and some of our boats get stacked (it always gets slow in the winter, but not like this).
Hell I'm sitting in Fourchon wait for a job for our boat now. They've already cut out 401k match and few other things, not my pay (yet).

Not looking good for a while.

no thanks. For many people/family's that have jobs that require a lot of driving/traveling year round, $2 a gallon results in a decent amount of savings.

dbolemiss said:

I hope it rebounds some.
I work offshore on boats and have seen a few friends get laid off and some of our boats get stacked (it always gets slow in the winter, but not like this).
Hell I'm sitting in Fourchon wait for a job for our boat now. They've already cut out 401k match and few other things, not my pay (yet).

Not looking good for a while.

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That is unfortunate, but I doubt any of those companies are going to see any less profits. I can almost guarantee the big oil companies will still have billion dollar bottom line profits. That is profits! The money that remains after everything else is paid for in full!

The "greater good" is served when gasoline is cheap. That is the greater good for most Americans. You are getting it in the a$$ because your company doesn't want to lose ANY money; but your taking it in the a$$ for the team! Team America that is!

Don't worry! They will go back to sticking it in ours before you know it!

Yeah, it's just the cycle. Save your pennies for these times. Some of us are lucky enough to have a base salary, so a little time off isn't too bad.

Sounds like someone is going hunting?

Neil09 said:

Yeah, it's just the cycle. Save your pennies for these times. Some of us are lucky enough to have a base salary, so a little time off isn't too bad.

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Yessirrr. Actually my first year hunting. Trying to learn to ropes, and places to gom

Sounds good since you've picked up some nice pieces..Go for it!

Scene is funny in general, but 1:07-1:15 sums up my belief on the fluctuation of gas prices - "YAY! Gas is cheaper! Don't worry about back-door legislation being slipped through Congress, or the latest expansion of federal power, or foreign policy blunders, etc., etc." As much as the price has dropped lately, I'm really waiting about the next shoe that's gonna drop.

https://www.youtube.com/watch?v=wXf_eaQcSdM

Was listening to a couple old guys this evening, discussing the subject of oil and gasoline. One made some interesting points. We drill for our oil and we buy oil. We do not sell oil. Our economy, unlike Russia's, is not dependent on our selling oil. This is a good thing.
We need oil. We have a strong appetite for oil. Not just to make engines go vroom, but for a plethora of other products and even byproducts. As long as there's oil in the ground, we will harvest our own. The price of foreign oil will never be less per barrel than the cost of harvesting our own per barrel (with the exception of fracking and other more expensive ways of harvesting). The oil industry here may speculate this and that and make decisions on manpower and harvesting ventures, but the demand for oil will not go down. Since the addition of ethanol into gasoline, the demand for oil has increased dramatically. Since the demand by law for more efficient vehicles, the demand for oil has increased dramatically. Since the times of $1/gallon gasoline, the demand for oil has increased.
As much as the price of oil has fallen in the past few months, we've seen a fall in gas prices, although not exactly proportionate. I've not noticed a marked difference in the price of motor oils lately, which is based on crude prices to some extent I would gather, as I noticed a sharp rise in price a few years back right along with gas and oil. So it would appear that someone is still making plenty of profit...

As far as oil related jobs, especially in our gulf region, I've considered a few things:
The demand for oil demands harvesting the oil. The oil industry knows that if prices are low, to make the same money they have to sell more, but then again, the oil industry doesn't lose money. One would think they might attempt to trim some costs, but how can they decrease manpower and still keep up with the demand? Can Exxon buy and ship oil from the Middle East cheaper than harvesting oil here? Could there be other areas from which they could trim some fat besides the harvesting labor force?
The big pipeline has yet to materialize, and even if it's given the seal of approval from the powers that be for construction, how long might that take? How long before oil would flow from Canada, on tap for the masses?
I have family who either work in or have an interest in the oil industry and I'd hate to see them suffer any loss, but I'm not so sure it will be from cutbacks in production.
I've worked in the medical field for nearly 3 decades and have had my share of worries since the Clinton years that I might face problems with my livelihood. Problems that were speculated time and again for many years. Problems that have yet to materialize, even as a result of Obarry care. I still have a secure job, most likely due to the demand for medical care.

I truly hope our oil industry here in the south will remain intact and I believe it will. For now, while it lasts, I'll enjoy paying less at the pump and realizing the money I will save for other things while it lasts and feel comfortable knowing that no matter what other factors creep into a market and no matter how the market is manipulated, there's nothing like the law of supply and demand to drive the market.

To all here who are employed in the oil industry, I wish you well.

I paid $1.63 at Costco last Saturday -- lowest I've seen in a long time. It's not gonna last, so might as well take advantage while you can. The Saudis are playing chicken with the rest of the oil producers with the goal of driving marginal producers out of business, then expect prices to rebound.

PPBart said:

I paid $1.63 at Costco last Saturday -- lowest I've seen in a long time. It's not gonna last, so might as well take advantage while you can. The Saudis are playing chicken with the rest of the oil producers with the goal of driving marginal producers out of business, then expect prices to rebound.

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That's cheap! Almost 3/4 of that is governmental extortion taxes too!

$1.63!? Pooyiiii

Five years ago I would have welcomed $1.99/gallon, or even less. Now I am working for a company that supports the offshore industry. I'm in a catch 22 situation.
If gas goes to $1.00/gallon I could travel more and not worry about gas costs, but then again, I probably wouldn't have a job anymore so I wouldn't be able to afford that $1.00/gallon gas.
Luckily, my company is a worldwide company and we are able to go where the money is. But if the price of oil keeps dropping, there will be less places for us to go. Already the situation in Russia has affected our parent company a little bit. We had a project that started last year that was not renewed for this year. We didn't actually lose money since the project was to be only for 2014 with an option to extend it for 2015. A boat load of money was made from it last year. No one has lost their job or received a cut in hours (that I know of) because of it not being renewed.

I enjoy the cheap gas now, but I budget my money as if gas were still high. It's going to bounce back eventually, it always does.

Gas is $1.71 at Costco and Sam's Club right now, and $1.78 at Race Trac off Airline.
This is the cheapest I've seen gas in the past 10 to possibly 15 years.

The highest that I've paid for gas is $4.10/gal at the Chevron near Bass Pro in Denham Springs. That was in 2007. I've seen gas up to $4.30/gal.

I love the lower prices and hope they go lower and stay there. So some in the oil industry suffer a bit. The rest of the country has been suffering for some time and the benefits to the whole country from lower fuel prices will far outweigh the suffering of a few from one industry.

A5Mag12 said:

I love he lower prices and hope they go lower and stay there. So some in the oil industry suffer a bit. The rest of the country has been suffering for some time and the benefits to the whole country from lower fuel prices will far outweigh the suffering of a few from one industry.

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So some in the oil industry suffer a bit? Why?

Many in the oil industry still make more than I ever did in the Marines. I went to war for your industry and got paid chump change. I do not ever recall getting a military discount at the pump. It is hard to feel sorry for an industry that has stepped on my neck for so long.

So it's the fault of anyone in the oil industry that military doesn't get paid enough? Which means they, well I guess we, have stepped on your neck? That's funny, because every oilfield company I've worked for, hires military over anyone else, and there is a LOT. How's that for stepping on necks?

Are you saying that the workers make the decisions for the industry? I thought there were rich executives involved.
You will have to take a break from you hayride. Some of us never had a hayride, so count your blessings. it is not the consumers fault that oil workers spent all their money and did not save for times like this.