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5 dollar gas...are we ready?

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Re: 5 dollar gas...are we ready?

hockeyplayer1015 said:
NYS gasoline taxes are in the neighborhood of $0.80/gal.

NYS also has the highest average gas prices in the lower 48 (gas buddy as source).
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That's also a sliding scale, because part of the 80 cents is sales tax. Maybe that's why it's a little cheaper near FlagDUDETTE, because her county does not charge 4% on sales tax; still only 3. In this state, it's a 4% state sales tax, and then the county portion depends on the county (my county is 4).
 
Re: 5 dollar gas...are we ready?

Slap Shot said:
Just wanted to quote what started it all. Might actually be worthy of a revisit to see if it has any relevance to the future.
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Its an honor to have a post from years back get bumped. As it is, I almost never post here anymore and my 15 minutes ( aka this thread) bring a tear of joy to my eyes.

I won't pretend to know about the movement of oil prices. The market including supply/ demand are too complex for me to read into in order to get a good understanding of what is going on. That said, I am still long anything oil. My money is where my mouth is:

NOV
DNOW
CBI
SLCA
RIG ( okay this is a bit of a punt, but its a small play).
An oil ETF to be determined.

As for a real life follow up - I live less than a mile to my job now and walk on a regular basis. In October/November/December I have spent roughly 90-100 dollars on gasoline *combined*. I spend most of my money driving to hockey games that don't have any spots left to play! F that!

As for another follow up - At that point in time, I bought too much into a market "correction". It never came. In fact, I stood on the sidelines in fear of this market correction trying to time the market and pull the trigger on a bunch of stock...a pullback which only briefly came later that year in 2011. That said, I feel that the most recent decline in market prices, especially in oil based companies, is a good buying opportunity. For example, my Stalwart national oilwell varco actually dropped in price more due to the market fear than spinning off its distribution business ( DNOW).

I am one for a great economy where the cost of business is cheap, and people have more free cash flow. Its a win for everyone. But...I feel these oil prices are temporary. This is a gut feeling based on what I know about oil end products, and how oil is so integral to how our economy does things. I won't try to time this market and have been cost averaging my stock purchases.

So my question to those who study this market more than I do are this:

1- Are low oil prices here to stay? Will they increase, but not to old levels?

2- How much will fraking displace the demand for oil?

I hope everyone had a great Xmas! Thanks for keeping the post alive :)
 
Re: 5 dollar gas...are we ready?

$1.99 a gallon in Johnsburg, IL today.

Only a third tank down, but i stopped and topped off just for the novelty of it.
 
Re: 5 dollar gas...are we ready?

If it's such a problem, why don't you just move, Flag? You anarchists seem to be in favor of that when people do it to skirt taxes. :p
 
Re: 5 dollar gas...are we ready?

Idaho, Montana and Alaska seem like optimal environments for anarchists.
 
Re: 5 dollar gas...are we ready?

And $2.92 in Anchorage. Probably upwards of $5 in the Bush.

So quit ya whining city boy.
 
FadeToBlack&Gold said:
If it's such a problem, why don't you just move, Flag? You anarchists seem to be in favor of that when people do it to skirt taxes. :p
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I smartened up and left NY for FL. Don't regret it at all. Taxes, and weather were primary reasons.

Thus, I assisted in making FL the #3 populous state in the country, overtaking NY in the latest census numbers. Boomshakalaka.
 
hockeyplayer1015 said:
I smartened up and left NY for FL. Don't regret it at all. Taxes, and weather were primary reasons.

Thus, I assisted in making FL the #3 populous state in the country, overtaking NY in the latest census numbers. Boomshakalaka.
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There are A LOT of people who are making/made the same move as you. Very popular trend over the last 5-10 years.
 
Re: 5 dollar gas...are we ready?

Well, I don't tolerate anything hotter than 70 very well. So I could never live South of the Mason-Dixon line.
 
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