Price Of Gas

[LenWhite]

Based on these 2015 BBC figures the world economy will be in big trouble if low oil prices continue.

Needed to balance budget:
price/barrel
$184 Libya
$131 Iran
$131 Algeria
$123 Nigeria
$118 Venezuela
$105 Russia
$104 Saudi Arabia
$101 Irac
$81 UAE
$78 Kuwait
$77 Qatar

 

[RayDunzl]

Gasoline taxes are (mostly, if not all) based 'per gallon' and not a percentage of the selling price (like sales tax), so low gas prices shouldn't influence the tax take:

 

[spazmatron]

Based on these 2015 BBC figures the world economy will be in big trouble if low oil prices continue.

Needed to balance budget:
price/barrel
$184 Libya
$131 Iran
$131 Algeria
$123 Nigeria
$118 Venezuela
$105 Russia
$104 Saudi Arabia
$101 Irac
$81 UAE
$78 Kuwait
$77 Qatar

Don't trust the bbc it's worse than Fox News these days...

Cheap oil helps China in that it makes it cheaper for them to make and distribute things, cheap oil helps jo blogs save money on gas so he can buy cheap crap made in? China.

so given that China is responsible for most of the worlds growth recently it makes sense to help them out. However, things are seldom this simple. Low interest rates don't help, the reliance of some Weston economies on consumer markets is a little self defeating and a major concern.

It will all be ok, it always is. These days if we run out of cash they just print some more!

But if you want to help... Pay more for your gas!...... Umm... I thought not lol

 

[DaveC]

So low oil prices hurt the economy, high oil prices hurt the economy. JFC, maybe there's something wrong?

I can say the economy in 2015 was truly f#$ked. I know lots of small business owners in audio and other markets and not sure anyone had a great year, even the Asians are pulling back on their spending to some degree. This sucks, pre 2008 is like a fairy tale at this point...

 

[spazmatron]

So low oil prices hurt the economy, high oil prices hurt the economy. JFC, maybe there's something wrong?

I can say the economy in 2015 was truly f#$ked. I know lots of small business owners in audio and other markets and not sure anyone had a great year, even the Asians are pulling back on their spending to some degree. This sucks, pre 2008 is like a fairy tale at this point...

Yea but it had one thing in common with now.... Every one was moaning! The problem being we can't go back to 2007 prices... Well maybe at the pump.

Uncertainty rules, only one thing worse, false certainly

All roads lead to doom...

I earn one third of what I used to pre 2007. Super smashing great, still I am warm and not hungry so really it matters not.

 

[Blizzard]

So low oil prices hurt the economy, high oil prices hurt the economy. JFC, maybe there's something wrong?

I can say the economy in 2015 was truly f#$ked. I know lots of small business owners in audio and other markets and not sure anyone had a great year, even the Asians are pulling back on their spending to some degree. This sucks, pre 2008 is like a fairy tale at this point...

What do you mean? All you need to do is print trillions in phoney money and it fixes everything.

 

[spazmatron]

What do you mean? All you need to do is print trillions in phoney money and it fixes everything.

That used to work with analog printers but the new digital quantive easing money printers are just not the same.

Digital is ruining music and the economy!

 

[mauidan]

http://www.usdebtclock.org/

 

[edorr]

http://www.usdebtclock.org/

Very cool. Of course, designed to freak us out and cry "unsustainable", but if you pay attention GDP is growing faster than the debt, so the debt to GDP ratio is actually declining making the debt more sustainable, not less. Well done Obama!

 

[LenWhite]

http://www.usdebtclock.org/

Perhaps the elephant in the room.............. Few politicians and probably the majority of the population even want to talk about it, much less develop and support a long term plan. And those advocating short term austerity programs likely would make things much worse.

 

[Folsom]

I can't see how fracking being on the decline is ultimately bad. Yes it doesn't directly help some economies but it's better that we have water to drink and land to live on. But I'm sure you think twice about it if your wife is losing the money you eat from, over it.

The part that'll suck is after the fracking stops, and those producing oil cheaply try to hike prices higher than ever. However that's a wager that must be played carefully, since none of them have world class armed forces.

As Ron pointed out, it's pretty amusing to blame the Arabian Peninsula for low oil prices... nice catch 22, they can't do right by anyone. I suppose the only thing they have left to do is pay their international slaves less and drive more supercars in everyone's faces outside their country because they can't win with public opinion.

 

[NC Lee]

Very cool. Of course, designed to freak us out and cry "unsustainable", but if you pay attention GDP is growing faster than the debt, so the debt to GDP ratio is actually declining making the debt more sustainable, not less. Well done Obama!

Unsustainable indeed (per the CBO), so I'll assume your Obama reference as tongue in cheek. Our debt to GDP has doubled on his watch.

 

[edorr]

Unsustainable indeed (per the CBO), so I'll assume your Obama reference as tongue in cheek. Our debt to GDP has doubled on his watch.

What do you think comes first?

Debt crisis and global financial meltdown
ISIS takes over and institutes sharia law
Terrorist attack whipes out USA
Ebola whipes out the USA
North Korean nukes whipes out the USA
Climate change whipes out the USA
Ted Cruz becomes president and instiitutes theocracy
Bernie Sanders gets elected and institutes socialism

Ever wonder why half the nation is on prozac or addicted to Oxy's?

Obama has done just dandy. I don't lose any sleep over the debt. The sun will still rise tomorrow.

 

[Gregadd]

Sadly there is no Obamacare. Just a few health insurance reforoms and some mndatory requirements, 31 states (31 states have GOP majority some of them veto proof) have no medicaid. All for the purpose f defeating Obamas' healthcare intiative, People are dying or suffering treatble and curable diseases.
Amazing how so many things became objectionable to Republican conservatives after Obama got elcted.

 

[edorr]

All for the purpose f defeating Obamas' healthcare intiative, People are dying or suffering treatble and curable diseases.

We can get a lot more killed - just wait and see it and when a Republican prez gets elected. They will have a lot of explaining to do at the gates of heaven. I guess they can claim they misread the "healing the sick" sections of scripture.

Amazing how so many things became objectionable to Republican conservatives after Obama got elcted.

Self proclaimed political priority #1 was to make Obama fail, not get stuff done deemed beneficial to the country. Ironically, they reason for the current civil war in the party is they failed to make Obama fail. Kharma.

 

[treitz3]

Gentlemen, please do not sway this thread into a political one. The topic is the price of gas. There are plenty of other political forums to join that one can speak about politics. This is not one of them. Thank you in advance.

Tom

 

[LenWhite]

Very cool. Of course, designed to freak us out and cry "unsustainable", but if you pay attention GDP is growing faster than the debt, so the debt to GDP ratio is actually declining making the debt more sustainable, not less. Well done Obama!

Article from Forbes http://www.forbes.com/sites/jeffrey...nt-of-gdp-its-really-much-worse/#4d1040426e0c

When central bankers, macroeconomists, and politicians talk about the national debt, they often express it as a percent of gross domestic product (GDP) which is a measure of the total value of all goods produced in a country each year. The idea is to compare how much a country owes to how much it earns (since GDP can also be thought of as national income). The problem with this idea is that it is wrong. The government does not have access to all the national income, only the share it collects in taxes. Looked at properly, the debt problem is much worse.

 

[Gregadd]

Gentlemen, please do not sway this thread into a political one. The topic is the price of gas. There are plenty of other political forums to join that one can speak about politics. This is not one of them. Thank you in advance.

Tom

Good Morning Tom

You dont think the price of gas is political?

 

[NC Lee]

Sadly there is no Obamacare. Just a few health insurance reforoms and some mndatory requirements, 31 states (31 states have GOP majority some of them veto proof) have no medicaid. All for the purpose f defeating Obamas' healthcare intiative, People are dying or suffering treatble and curable diseases.
Amazing how so many things became objectionable to Republican conservatives after Obama got elcted.

Maybe if you speak to the positions themselves rather than perceived motives of the actors.
An Oregon study showed people with Medicaid having no better outcomes than those uninsured.
OC continues to be unpopular with the majority of Americans. Some of these objections were based on the expectation of it being a poor cost/benefit outcome. To date their fears have been realized. That the president sold OC as a cost savings has not helped acceptance of the program.

 

[Steve williams]

Hi all

When I started this thread I really was just commenting about how inexpensive gas was in Texas as compared to California (where BTW it is also very low but still at least $1/gallon more than Texas) As Tom said let's not talk Obamacare or anything else political as this was not my intent and certainly not what we discuss here at WBF