Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

HereSince1628

(36,063 posts)

35. Yes, and market commentators were projecting prices nearing $6 by Fall.

Reply to RandiFan1290 (Reply #29)

Fri Jul 29, 2016, 07:47 AM

Jul 2016

I still wonder how much energy prices and consumer fear figured into the timing of the crash. Borrowing was over-extended and there were a lot of folks who weren't going to be able to heat their homes, eat, and put gas in their cars.

Of course that would be perspective of the privileged who had mortgages and cars to be underwater with.

Edit history

Please sign in to view edit histories.

35 replies

= new reply since forum marked as read

Highlight:

Gasoline Prices Continue To Plunge; U.S. Crude Oil Supply At 86-Year High [View all] Purveyor Jul 2016 OP

During the Summer? abetterkid Jul 2016 #1

Crude glut and reduced gasoline demand. Cars in the US are getting much better mileage. tonyt53 Jul 2016 #5

frack, baby, frack 6chars Jul 2016 #9

US gasoline demand is NOT reduced. It is forecast to hit an all-time high this year! NickB79 Jul 2016 #20

- Bigredhunk Jul 2016 #24

Low gas prices. That's a good thing in an election year. bluestateguy Jul 2016 #2

So much for that peak oil, I guess. MADem Jul 2016 #3

Peak Oil was the only hope we had to avert Catastrophic Climate Change NickB79 Jul 2016 #21

I think technology will do what that fiction about peak oil couldn't. MADem Jul 2016 #23

Technology amplifies our, for lack of a better term, unsustainability The2ndWheel Jul 2016 #28

Peak Oil was Trump level quackery Sen. Walter Sobchak Jul 2016 #31

in 2012, Newt promised $2.50 a gallon for gas Yavin4 Jul 2016 #4

I remember thinking he was crazy. EL34x4 Jul 2016 #12

Prices are not falling in California onecaliberal Jul 2016 #6

Just gassed up here for $2.25 a gallon near Modesto ansible Jul 2016 #7

2.70 yesterday in Clovis onecaliberal Jul 2016 #8

$2.69 PasadenaTrudy Jul 2016 #15

Then why are airlines continuing to get away with fuel surcharges? Initech Jul 2016 #10

maybe it's based on their effective hedged cost BadgerKid Jul 2016 #11

It's because they can. Yavin4 Jul 2016 #14

It's $1.85/gal at the store 3 miles from me in East Tennessee, lower in some of the bigger towns N/T Ghost in the Machine Jul 2016 #13

As soon as it's in the news, it goes up AwakeAtLast Jul 2016 #16

Damn you, Obama. How dare you use your nubian muslim black powers to do this? Feeling the Bern Jul 2016 #17

Election year JesterCS Jul 2016 #18

Gas prices plunged in 2008 Charles Bukowski Jul 2016 #26

Gas was $4.10 at this time before bush left RandiFan1290 Jul 2016 #29

Yes, and market commentators were projecting prices nearing $6 by Fall. HereSince1628 Jul 2016 #35

$2.10 at the pumps today in the Four Corners. bluedigger Jul 2016 #19

The number of DU'ers who think this is a good thing is horrifying NickB79 Jul 2016 #22

I feel the same way. Scruffy1 Jul 2016 #25

At this point, individual American MPG being 15 or 35mpg is irrelevant. Socal31 Jul 2016 #27

Thanks to petrol prices I bought a new to us pickup. ileus Jul 2016 #30

$2.48 gal/reg last time I pumped in CT bigwillq Jul 2016 #32

The price just dropped .10 cents/gallon overnight here... Ghost in the Machine Jul 2016 #33

"And it's ALL PRESIDENT OBAMA's FAULT!!!" John Poet Jul 2016 #34