Quote:
Originally Posted by dnieves
Don't get used to it!!!
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Quote:
Originally Posted by geek808@outlook.com
Haha!  In Hawaii premium Chevron gas is $3.32 a gallon.....I'm happy for now but when gas prices go back up I be  |
I think oil and gas prices will be down for some time (at least for the next year or so I'm guessing). Oil production is at an all time high, demand is getting lower with CAFE standards and the slowing Chinese economy and OPEC isn't lowering production despite falling oil prices.
I live in oil country (near Houston Texas) and a crazy amount of oil is being exacted nearby thanks to commercial hydraulic fracturing. Oil drilling companies are actually laying off thousands of people due to overproduction and low oil prices.
ps- One of the benefits of living in oil country is gas is always so cheap here compared to the rest of the country. Last time I checked I think it was like $1.72/gallon for regular gasoline.
[ame="http://en.wikipedia.org/wiki/Eagle_Ford_Formation"]Eagle Ford Formation - Wikipedia, the free encyclopedia[/ame]
http://en.wikipedia.org/wiki/Hydraul...cturing#Shales