$25 Dollar Oil

Off Topic Politics & World Issues
21

[quote]DB297 wrote:
States get a lot of tax dollars from gas. With so many states/counties/city desperate for $ this is only going to make things worse. [/quote]

Gas taxes are usually absolute amounts and not relative percentages on the price.

Besides, since most people spend the money they make in the state they reside they will still be paying sales taxes. Just because gas costs less now they will be spending more money on other stuff like food and entertainment, etc. States will not suffer unless there are high unemployment rates in their respective states.

Also remember that the state makes money any time money is turned over on a consumer good that is taxed. You buy something and the proprietor of that business buys something, ad infinitum.

This is why income taxes are less superior to sales taxes when it comes to generating revenue for the state. Less income to spend on one’s self means less money in circulation generating revenue. It is far better to have that money being turned over in the market generating sales tax revenue over and over again than for it to go directly to the government where it does not generate anymore revenue.

22

[quote]usmccds423 wrote:
rainjack wrote:
FormerlyTexasGuy wrote:
rainjack wrote:
Gotta love the fucking experts. Back in July, I was calling for a free fall in oil prices. Remember Lixy?

I don’t know if I said it here, but I was convinced we would see $50 oil. The experts were saying oil would hit $200/barrel and more.

Now the “experts” are calling for prices 1/10th of what they were saying they would be just 6 months ago.

Maybe you should take the opposite advice of the experts. They evidently aren’t putting their money where their mouths are.

Some experts predicted $200. Others predicted much lower levels. Most said the market was too volatile to accurately make a prediction. The news channels took the most sensational possibility and ran with it. Most investors were not calling for $200 oil.

Go find any article predicting even $80 oil before July. If you find one, you will have to sort through 100 calling for $200 oil.

Hell, even Boone Pickens was calling for this “correction” to be short term, and that the price would shoot back up.

Of course, there’s a special place in hell reserved for that sorry sack of shit, though.

I don’t think anyone predicted the economy was going to plummet like it has, but eventually gas prices are going to go up. There simply isn’t any way around it other then renewable energy. Once the economy begins to rise cars being bought and fuel being used are going to rise in not just America, but in China, India, Russia, Japan, and many other countries.

Unless cars are run by something other then oil there is no way to keep the price down. Demand is going to increase and there is only so much oil to go around.
[/quote]

Actually, Harry Dent predicted all this over 10 years ago. Might have even been 15 or 20 years ago he predicted that between 2008 and 2010 the bottom would fall out. He’s always said that when the dust settles, the good investments will be in health care and select foreign economies.

23

In other news: it is now becoming nearly impossible to buy gold bullion. You can buy coins for a big premium, but buying it for storage…very hard to find.

No one will part with the stuff anymore. Its like I were trying to pay with Zimbabwean currency (hyperinflating there)!

Something is up…

24

[quote]rainjack wrote:
Gotta love the fucking experts. Back in July, I was calling for a free fall in oil prices. Remember Lixy?

I don’t know if I said it here, but I was convinced we would see $50 oil. The experts were saying oil would hit $200/barrel and more.

Now the “experts” are calling for prices 1/10th of what they were saying they would be just 6 months ago.

Maybe you should take the opposite advice of the experts. They evidently aren’t putting their money where their mouths are. [/quote]

I’m waiting for your other prediction, $20.00 a barrel within a year. I have a feeling that you’re alot smarter than the experts. Maybe you should think of starting your own online financial blog, I’d refer you!

25

I hope this doesn’t slow the impetus for energy independence. However low oil drops, we’d be better off if we could come up with a viable alternative energy source. And tell those sorry sacks of shit in the Middle East to go to hell. (Unfortunately, I think we’re a long way a way from viable alternative sources, but we’ll NEVER get there if we don’t make it a priority).

26

[quote]jsbrook wrote:
I hope this doesn’t slow the impetus for energy independence. However low oil drops, we’d be better off if we could come up with a viable alternative energy source. And tell those sorry sacks of shit in the Middle East to go to hell. (Unfortunately, I think we’re a long way a way from viable alternative sources, but we’ll NEVER get there if we don’t make it a priority).[/quote]

It already has. Natural gas drilling has slowed and T Boone Pickens is all but done toting his BS.

27

move into the medical field.

my income is only going up, my company just build a gigantic new state of the art hospital in so cal. Unless people finally give up on the way we run health care when they’re paying an arm and leg to fix the other arm or leg, and finally turn to nationalized care to bring prices down, my job and the entire health care field is pretty secure. BTW complete private care will never happen, not nearly enough competition and companies like mine have policies to buy/destroy new ones when they do pop up.

28

So I have a question,

How come when oil goes down they say the cost of gas is based on barrels from a month or two ago, but the day oil goes up, gas goes up?

29

[quote]apbt55 wrote:
So I have a question,

How come when oil goes down they say the cost of gas is based on barrels from a month or two ago, but the day oil goes up, gas goes up?

[/quote]

Greed. It’s not just the oil industry that does it.