Obamagas to drop below $2 a gallon nationwide

Some late buying on Friday kept the WTI above $40.

The speculators are trying very hard to keep the price above $40, because if it breaks into the basement, no one has a handle at all where the bottom will be reached.
 
Slight gain to above $41 for WTI but the Brent dropped a half a percent.

Saw $1.76 today.

Saw 2.13 in the NE of Salt Lake City. Has not been that for years there.
 
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I never knew Obama was an active supporter of fracking. Fracking in the US has been an important factor in driving down the price of oil:

"The problem for the Saudis is that US shale frackers are not high-cost."

Saudi Arabia may go broke before the US oil industry buckles

"“For the next 50 years, we can expect to reap the benefits of the shale revolution,” Hamm said one day this spring. “It’s the biggest thing that ever happened to America.”"


"On one side are Hamm, a famous wildcatter, and other American oilmen who rode the discovery of hydraulic fracturing to tens of billions of dollars of wealth and a promise of, in Hamm’s words, ending the “disastrous” days of Saudi Arabian control. On the other are the Saudis and their allies in the Organisation of the Petroleum Exporting Countries (Opec), which are trying to stem rising US oil power and maintain their 40 years of dominance."

How plunging oil prices have created a volatile new force in the global economy

"The U.S. boom has been driven by “tight oil” — what many people call shale oil — which is produced by fracking and is more responsive to market conditions than oil developed through traditional drilling."

Why we get oil prices wrong

"Prices are down because of a combination of reduced demand and dramatically increased supply, created to an extent by the hydraulic fracturing revolution known as fracking."

OPEC bets against U.S. fracking: Column

You can thank fracking because Obama had nothing to do with low oil prices.

.
 
Check your figures. SA can break even at $18 a barrel; the US at $33.

SA can pump oil until it breaks Iran and Russia.
 
I never knew Obama was an active supporter of fracking. Fracking in the US has been an important factor in driving down the price of oil:

"The problem for the Saudis is that US shale frackers are not high-cost."

Saudi Arabia may go broke before the US oil industry buckles

"“For the next 50 years, we can expect to reap the benefits of the shale revolution,” Hamm said one day this spring. “It’s the biggest thing that ever happened to America.”"


"On one side are Hamm, a famous wildcatter, and other American oilmen who rode the discovery of hydraulic fracturing to tens of billions of dollars of wealth and a promise of, in Hamm’s words, ending the “disastrous” days of Saudi Arabian control. On the other are the Saudis and their allies in the Organisation of the Petroleum Exporting Countries (Opec), which are trying to stem rising US oil power and maintain their 40 years of dominance."

How plunging oil prices have created a volatile new force in the global economy

"The U.S. boom has been driven by “tight oil” — what many people call shale oil — which is produced by fracking and is more responsive to market conditions than oil developed through traditional drilling."

Why we get oil prices wrong

"Prices are down because of a combination of reduced demand and dramatically increased supply, created to an extent by the hydraulic fracturing revolution known as fracking."

OPEC bets against U.S. fracking: Column

You can thank fracking because Obama had nothing to do with low oil prices.

.

President Obama has been an advocate of fracking since he was a young boy in Kenya
 
I never knew Obama was an active supporter of fracking. Fracking in the US has been an important factor in driving down the price of oil:

"The problem for the Saudis is that US shale frackers are not high-cost."

Saudi Arabia may go broke before the US oil industry buckles

"“For the next 50 years, we can expect to reap the benefits of the shale revolution,” Hamm said one day this spring. “It’s the biggest thing that ever happened to America.”"


"On one side are Hamm, a famous wildcatter, and other American oilmen who rode the discovery of hydraulic fracturing to tens of billions of dollars of wealth and a promise of, in Hamm’s words, ending the “disastrous” days of Saudi Arabian control. On the other are the Saudis and their allies in the Organisation of the Petroleum Exporting Countries (Opec), which are trying to stem rising US oil power and maintain their 40 years of dominance."

How plunging oil prices have created a volatile new force in the global economy

"The U.S. boom has been driven by “tight oil” — what many people call shale oil — which is produced by fracking and is more responsive to market conditions than oil developed through traditional drilling."

Why we get oil prices wrong

"Prices are down because of a combination of reduced demand and dramatically increased supply, created to an extent by the hydraulic fracturing revolution known as fracking."

OPEC bets against U.S. fracking: Column

You can thank fracking because Obama had nothing to do with low oil prices.

.

President Obama has been an advocate of fracking since he was a young boy in Kenya
He learned the value from working for British Petroleum.
 
The president has no impact on gas prices. The market dictates prices, furthermore as has been noted time and time again this president is anti fossil fuel. Only a naive fool would think or state otherwise. World wide demand for fossil fuels is down due to the sluggish world economy.
Name one act or policy this fool sponsored that impacted fuel prices?
 
The president has no impact on gas prices. The market dictates prices, furthermore as has been noted time and time again this president is anti fossil fuel. Only a naive fool would think or state otherwise. World wide demand for fossil fuels is down due to the sluggish world economy.
Name one act or policy this fool sponsored that impacted fuel prices?

How gullible can you be?

The President is the one responsible for the price of gas. I never believed it until the 2012 election when all the Republicans said Obama was responsible for the longest period of $3+ gas in history

It is obvious that President Obama is now giving us $1.91 Obamagas
 

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