Stock 99

They say gas in North America is at a 5 year low right now and they are predicting it to hit a 10 year low before it starts to rise again. Where I live the price has dropped about 25 cents a litre in the last month or so (about $1 gallon).

I own my 1.6l Civic and I also own a 4.9l Ford F150. I drive about 200km a week for work and that's a big reason why I drive my Civic...fuel economy. In reality though I'd actually perfer to drive my truck and I think it's going to start being driven alot more regularly now that gas is cheap.

I had to laugh today, I was running errands with my truck and I get out of this store look at the parking lot and my F150 was about the average sized vehicle. So I guess I'm not the only person thinking like this.

drhawkinz

yeah it's the reason I bought the civic. well half the reason, other half was I had to sell my GSXR. The civic had the best MPG next to the Jetta but I've heard the jetta is harder to work on since it's german.

I also have a F150, only a V6 though but I drive about 300 miles a week so it was eating me a live in gas. But it is nice to see gas down again!

BlueEM2

iTrader: (1)

Yes and No. I have two cars a commuter and a family car. The commuter MPG is one of the biggest factors, the family car I don't care if it gets 14MPG lol.

lowlife9

this is the american way of thinking when oil prices drop lets all waste it and drive hummers i mean why not its cheap and plentiful rite ???. also i think its funny that as soon as solar power became on par with oil prices oil prices drop.

drhawkinz

gotta beat that competition

ezone

I'm not about to go buy another ride (unless it's another Harley) even if gas prices keep dropping.
I'm not driving any more or less than before. Still gotta do whatever it is I do LOL

When gas was near and over $4/gal, used car lots here had nothing but SUVs on them.

Driving around this evening, I saw gas at $2.249/gal. Wondering if it will get jacked up before the end of the week again.

----

My thoughts on cheap gasoline (dinner table conversation yesterday evening): OPECs' strategy will pay off (for them, as they see it) in the not too distant future.


OPEC decided against cutting production for a reason:To make gas prices drop.

The market is getting flooded with cheap oil, and gas prices are dropping like a rock, as we are seeing now.

Next, big oil companies will decide that shale drilling and fracking in N.A. is no longer profitable enough because gas prices are too low.
(Remember, they weren't doing this stuff widespread until gas prices got jacked up high enough to make it profitable.)

So....Big oil quits.

OPEC wins.

Unless/until gas prices skyrocket and big oil decides shale drilling and fracking is profitable again.

Lather, rinse, repeat?


Recent headline, recent victim:
Oil price collapse claims WA's Red Fork Energy, shale gas company in receivership (link)

ezone

Old and busted: Expensive oil is bad for the economy. New Hotness: Cheap oil bad for the economy


http://money.cnn.com/2014/12/12/investing/oil-prices-job-cuts/index.html?hpt=hp_t4

Kennykid2002

iTrader: (1)

Haaa,
I hope they hit a 10 year low.
A few years back it went down to $1.62/gal, cost me $15 to fill up my civic.
When gas hit $4.5/gal, I considered getting a moped.

It's funny you should mention, when gas topped $4/gal, there were almost no big gas guzzling vehicles out and about. Even Escalades were scarce. Now that gas has dropped a bit, you see all these big cars come out again.