I will believe the Saudis don't see any upcoming problems with Ghawar when they cancel one of their projects due to low oil prices. If they continue to be full steam ahead with increasing their capacity then I think they are aware that Ghawar may not be as robust in 5 years time as they would like us to believe.
COUNCIL BLUFFS, Iowa -- A price war at two Council Bluffs gas stations had the businesses so busy that one ran out of fuel and drivers enjoyed prices well below $3 per gallon.
The owner of a Pump and Munch station near 25th Street and Avenue M lowered prices below the $3 mark Friday morning. He quickly ignited a fuel-price feud with another nearby station, Andrew's Lounge.
"I created havoc down here," said Pump and Munch owner Lyle Sinnott. "I was at home last night and decided I was going to be the first one in town below $3 a gallon."
[...]
_________________ Abundance - what a concept!
Last edited by OilFinder2 on Sat Nov 01, 2008 6:55 pm; edited 2 times in total
Joined: Sep 16, 2004 Posts: 4836 Location: Southwest WI
Posted: Sat Oct 04, 2008 10:02 pm Post subject: Re: $2.89 gasoline in Council Bluffs, Iowa
My sister lives right across the river in Omaha... I know when we drive there gasoline is usually cheapest in Des Moines... _________________ Clothing should be optional.
Posted: Sun Oct 05, 2008 11:32 am Post subject: Re: $2.89 gasoline in Council Bluffs, Iowa
two years ago I bought a bicycle, at a shop and gas had just hit 2.80 for the first time. I told the guy peak oil had come and gas would never hit 2.50 again. he said nonsense, next year it will be 2.20 or less.
I am biting my nails, hope I was wrong that would be great.
Joined: Jul 04, 2007 Posts: 2214 Location: The U.S.S.A
Posted: Sun Oct 05, 2008 12:39 pm Post subject: Re: $2.89 gasoline in Council Bluffs, Iowa
No it wouldn't. Gas needs to keep going up, if doesn't keep going up, people will never feel the need to change. This has not been a big enough problem, to cause people to change their ways.
Posted: Mon Oct 06, 2008 9:14 am Post subject: Re: $2.89 gasoline in Council Bluffs, Iowa
On behalf of myself and the rest of the oil patch I would like to express my relief over the recent drop in oil prices. Hopefully now all this chatter about renewable resources and alternative energy sources will quiet down. When oil hit $147 we really began to sweat. Sure, the bump in cash flow was nice but oil is still more than 10% above prices 12 months ago. And no one producing wells drilled in the last few years had ever expected prices to hit $80 a year ago so we're still way above economic expectations.
With a little luck drilling activity will slow up some to a manageable rate. (these 12 hour days were starting to wear me down). Hopefully this will also reduce those horrible inflationary drilling costs that started to seriously impact the bottom line. We're also confident (based upon much historical precedence) that the Federal and state govt's will encourage the populace to utilize the reduced energy costs to jump start the economy with renewed consumption across the board. Personally, with only 10 years to retirement, I was hoping the boom would last till then. Given the acceleration towards PO that this price decrease will generate I'm now feeling more confident then ever in my financial future.
COUNCIL BLUFFS, Iowa -- A price war at two Council Bluffs gas stations had the businesses so busy that one ran out of fuel and drivers enjoyed prices well below $3 per gallon.
The owner of a Pump and Munch station near 25th Street and Avenue M lowered prices below the $3 mark Friday morning. He quickly ignited a fuel-price feud with another nearby station, Andrew's Lounge.
"I created havoc down here," said Pump and Munch owner Lyle Sinnott. "I was at home last night and decided I was going to be the first one in town below $3 a gallon."
[...]
This thread isn't even a month old, but I'm already seeing gas at $2.50 - $2.70/gallon around me.
If you can believe it, the drop in prices has even exceeded my expectations! _________________ Abundance - what a concept!
Joined: Nov 15, 2007 Posts: 338 Location: US East Coast
Posted: Sat Nov 01, 2008 8:08 pm Post subject: Re: $2.89 gasoline in Council Bluffs, Iowa
Armageddon wrote:
Armageddon wrote:
With the entire global financial system crashing, gasoline may fall under $3.00 per gallon soon everywhere.
Make that $2.00 . Is demand really dropping off this much ?
I think it is two or three things (at least) are happening.
1) The dollar has strengthened significantly so $2.00 gas today is the same as $2.30 gas in July. The pound is $1.61 right now when it was just about $2.00 then, 15% change. About same for Euro.
2) With the credit squeeze on manufacturing orders must be way off.
3) Plain psychological panic. My energy stocks got hammered way beyond any reason, maybe the same thinking is going on with oil.
4) Hurricane season is over, more stability in supply.
I suspect that this will not last but there will be some more wild economic fluctuation with the overall trend to be for oil to go up, up, up. OPEC is cutting, winter is here, people are driving more again. My SWAG on the frequency of oscillation would be 12-months peak to trough. But then any instability in the world political environment could change things overnight.
BTW, just saw gas at @ $2.32 in Wilmington, Delaware. _________________ When going through hell, keep going! Churchill
Nothing is ever lost by courtesy. It is the the cheapest of pleasures, costs nothing, and conveys much. E Wiman
I know there’s no solution, so I just enjoy what’s here and I enjoy the journey G Carlin
Joined: Sep 25, 2004 Posts: 4667 Location: Boston, MA
Posted: Sat Nov 01, 2008 9:33 pm Post subject: Re: $2.89 gasoline in Council Bluffs, Iowa
Does everyone understand what they are doing to this website by creating threads like this? _________________ "www.peakoil.com is the Myspace of the Apocalypse."
Joined: Apr 13, 2005 Posts: 3131 Location: St.Louis, Mo
Posted: Sat Nov 01, 2008 10:49 pm Post subject: Re: $2.89 gasoline in Council Bluffs, Iowa
Tyler_JC wrote:
Does everyone understand what they are doing to this website by creating threads like this?
Making a mockery of doomers like myself ? I am not worried, I have said since the day I joined that peak oil will be masked by an economic collapse, and I will continue to say so. A global economic collapse will occur and most people will never know that PO was the culprit. As Matthew Simmons and Michael Rupport have said, " you can't grow your economy, unless you grow your energy supply, and without economic growth, the fiat monetary system will fail ". I will take this fact to my grave.
Joined: Sep 25, 2004 Posts: 4667 Location: Boston, MA
Posted: Sat Nov 01, 2008 11:02 pm Post subject: Re: $2.89 gasoline in Council Bluffs, Iowa
Armageddon wrote:
Tyler_JC wrote:
Does everyone understand what they are doing to this website by creating threads like this?
Making a mockery of doomers like myself ? I am not worried, I have said since the day I joined that peak oil will be masked by an economic collapse, and I will continue to say so. A global economic collapse will occur and most people will never know that PO was the culprit. As Matthew Simmons and Michael Rupport have said, " you can't grow your economy, unless you grow your energy supply, and without economic growth, the fiat monetary system will fail ". I will take this fact to my grave.
No, they are making a mockery of the forum.
This isn't a news feed, it's a discussion forum.
We don't need an update every time gasoline moves up or down 20 cents.
It's repetitive and wastes valuable front page space.
Just a pit peeve of mine. _________________ "www.peakoil.com is the Myspace of the Apocalypse."
Joined: Mar 26, 2008 Posts: 1358 Location: Seattle
Posted: Sat Nov 01, 2008 11:24 pm Post subject: Re: $2.89 gasoline in Council Bluffs, Iowa
Sorry, at the time I posted this I just thought the story was funny - some gas station owner racing to be the first in his town to have gas below $3.
'Twas just intended to be a humorous respite, is all.
Then today I stumbled across it again and was amazed that it was less than a month old and already gas prices in my area are way below the ones in the story! _________________ Abundance - what a concept!
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Wish I lived near there. 
