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Want $2 Gas? Choose A New President, Not A New Recession
Topic Started: Oct 22 2012, 08:19 AM (669 Views)
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Pat
Oct 22 2012, 11:50 PM
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Oct 22 2012, 09:38 AM
More oil, less cost to us. Supply and demand. Wait and see.
A large uptick in supply would affect the price, not sure it would lower the price to $2.00. A new president could open up more federal lands for exploration, however we have the same issue there with drilling on private land. How do you get the supply to the refinery? More pipeline infrastructure requires time and permits, plus must survive court challenges. IF exploration was opened up early next year, it is probably a ten year lag time until the added supply could drastically impact gas price.

Granted, just opening up the federal lands would affect futures trading, not sure how long that news would reduce the price of oil, but some no doubt.

I look for us to be a net exporter of oil in a matter of a few years, but the oil companies would be trading this supply on the open market and getting every red cent they could for it.

I can envision base gasoline prices in the $2.75-$3,25 range, but $2.00 is a stretch in my opinion.

I think you can look at Mexico as a baseline. It's about $2.85 a gallon there right now. Since they do not pay world price as such and supplies are large. However what happens in the US is demand increase as supply increases which is the opposite of what usually happens. As price drops people buy things like hummers and start consuming more. That is self defeating.
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Berton
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Not if supply keeps ahead of demand.


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Neutral
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The economy will start rocking when Romney wins so there will be more demand for oil but opening up drilling will offset it and then some. I would not set a figure of $2 but it's possible.
Never forget Obie has done everything he can to push the price up to promote his green energy scams.
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