1. Forums
  2. General Chat

Falling Oil Prices

January 17, 2015 04:46PM
Since oil prices are falling, will consumers see a drop in the prices of other items that are produced with petroleum. With transportation costs costing less will that also contribute to cutting prices? How will the price of oil effect electricity bills?
Reply
Log In
x

Create an Account or Log In

Membership is free. Simply choose your username, type in your email address, and choose a password. You immediately get full access to the forum.

Already a member? Log In.

More About Oil Change & Car Service Mystery Shopping
January 17, 2015 07:55PM
If your local utility uses natural gas to produce power, rates may fall somewhat. And, farmers may find their production costs dropping somewhat. And if the railroads are shipping less oil, maybe agricultural shipping costs will come back down. Oil has bid up the price of railroad transport at the expense of agriculture.

But, I do not expect the price of Saran Wrap to move by much!

Based in MD, near DC
Shopping from the Carolinas to New York
Have video cam; will travel

Poor customer service? Don't get mad; get video.
Reply
January 17, 2015 07:59PM
Prices on most items we buy are like taxes. They don't usually go down, no matter what else is going on.

Mary Davis Nowell. Based close to Fort Worth. Shopping Interstate 20 east and west, Interstate 35 north and south.
Reply
January 17, 2015 10:57PM
Oil prices will continue to drop because OPEC wants to shut down producing from US oil wells. It knows the current price per barrel is below the profit line for most US oil companies to produce oil. As soon as most of the producing stops in the US, the price will go up, but most US oil companies will not resume production because of the steep cost to start again. This will cause thousands of people to lost their jobs, not just in the oil business. Nancy Pelosi is already urging Congress to impose a higher fuel tax since the price is so low. The tax will not go away after the prices go back up. This is a dangerous game that never stops and affects many people, even you and I. I do not know a solution, and I am not sure if there is one because of the power involved.
Reply
January 24, 2015 04:22AM
Our local electric company just went before the commission to request a rate increase. There is some speculation about how it will play considering oil prices are so low. In the past it seems the utility commission never turned down a request for an increase. This time may be different.

Equal rights for others does not mean fewer rights for you. It's not pie.
"I prefer someone who burns the flag and then wraps themselves up in the Constitution over someone who burns the Constitution and then wraps themselves up in the flag." -Molly Ivins
Never try to teach a pig to sing. It's a waste of your time and it really annoys the pig.
Reply
January 24, 2015 07:48PM
It's not just the producing from US wells that OPEC wants to stop, it's fracking as well. They are willing to sell at a loss if they have to. I was just reading about this... I had been wondering what was driving the drop in prices.
Reply
February 12, 2015 07:15PM
I found an article by
Clifford Krauss and one of the reasons for falling oil prices is as follows:

"There are a number of conspiracy theories floating around. Even some oil executives are quietly noting that the Saudis want to hurt Russia and Iran, and so does the United States - motivation enough for the two oil-producing nations to force down prices. Dropping oil prices in the 1980s did help bring down the Soviet Union, after all.

But there is no evidence to support the conspiracy theories, and Saudi Arabia and the United States rarely coordinate smoothly. And the Obama administration is hardly in a position to coordinate the drilling of hundreds of oil companies seeking profits and answering to their shareholders."
Reply
February 12, 2015 11:57PM
Local oil workers are proclaiming "doom, gloom and agony on end". I'm just glad I'm not paying so much. There are still jobs. If they don't frack, then they can cashier somewhere in the meantime. Oil goes up, oil goes down, oil goes up. The cost of gasoline used to be associated with supply and demand for the seasons. I don't know how all these other theories abound. Some women have bumper stickers on their cars that say, "Spoiled Oilfield Wife." I always laugh and think, "But you never see him." The hours these workers have are atrocious. The work is extremely dangerous for the ones in the field. These facts are why they make so much. Personally, I'd like to see safer hours and less hourly pay for them translated to less payment from me.
Reply
Sorry, only registered users may post in this forum.

Click here to login