Gas Question.

[caryrae]

It seems we are wanting more fuel efficent vehicals because of gas prices. If most people got these vehicals which would lower the demand how far would the price per gallon drop? Will we ever see gas under $2 a gallon ever again?

One thing I notice around my area is there sure are alot more scooters and people riding bikes these days. Gas as been dropping here, we are at around $3.74 a gallon. Peaked at just over $4 a few weeks ago.

[MegaDisney]

I don't think that we will ever see gas as low as $2 again.

We really need to focus on finding alternatives. Drilling for more oil, using more fuel efficient vehicles, etc. is not the answer IMHO.

[barnaby]

It seems we are wanting more fuel efficent vehicals because of gas prices. If most people got these vehicals which would lower the demand how far would the price per gallon drop? Will we ever see gas under $2 a gallon ever again?

One thing I notice around my area is there sure are alot more scooters and people riding bikes these days. Gas as been dropping here, we are at around $3.74 a gallon. Peaked at just over $4 a few weeks ago.

I don't think we will ever see prices lower than $2. I think the price of the barrell will eventully drop lower and level off, but only time will tell. Oil experts think the barrell should be in the $80 range, even with the increased demand from countries like China.

The US needs to drill on its own soil and become less dependent on foreign oil supplies. We import 70% of our oil to the tune of $700 billion dollars.
In the 70s, it was 20%. In the 90s, we imported 40%.
Fuel-efficient vehicles will also cut demand.
The use of oil products is still cost-efficient when the barrell is a reasonable price.

Also, I think we need to furthur develop uses for alternative fuels such as wind for power and natural gas for autos.

[DizneyRox]

Nope, not gonna happen. This latest scramble had us all more than happy to pay $3+ a gallon. Not until it hit $4+ a gallon did folks really start making a stink. We'll see it around the low $3's I'm going to guess, but that's it.

[dnickels]

I can't see it ever returning to those levels. Maybe $3/gallon for a period of time, but even that will be temporary. It's not about at what price we complain enough or make enough of a stink, it's simple supply and demand. World oil production has plateaued the last few years but demand is going only one direction (up, up, up).

We've been spoiled by cheap energy for years and the decisions we made during that time are finally catching up with us.

[mjstaceyuofm]

I don't think that we will ever see gas as low as $2 again.

We really need to focus on finding alternatives. Drilling for more oil, using more fuel efficient vehicles, etc. is not the answer IMHO.

Agree on the not seeing $2 gas again.... We breached that barrier a few years ago and it will NEVER get below $3.50 again IMHO.

Disagree on the drilling for oil/fuel efficient vehicles as not being the answer... While I do think that we need to look at other alternatives for fueling our vehicles and generating electricity, etc., I know that it will take a long time for "alternative energy" to become viable. We need to wholly alter our infrastructure and economy to work with these alternative energy sources. I think it can be done, but I know it will take some time. Rome was not built (or destroyed) in a day. Drilling for our own oil and using more fuel efficient vehicles will act as a stop-gap measure and afford us the time to develop these "alternative energies" and all the associated infrastructure and changes that go with it.

[caryrae]

I remeber watching a show a little while ago about Malls around the world . One was about the country in the Middle East (I think) that makes millions of dollars a day from selling oil and there citizens don't pay any kind of taxes because they get so much from oil. They said they are always inproving their country so much they , can't remember exactly, but they have something like 1/4 of all the big cranes in the world. I think it was there mall that had the ski slope inside.

I think is was like Dubai. I remember seeing a show of them building Islands which all together look like a palm tree.

Gas is down to $3.68 now here.

[brownie]

I don't think we'll ever see gas below $2 again, although it was down as low as $3.79 around here today, which is about $0.20-0.30 lower than its been.

We're going to be pinched for a while, too, I think. It'll probably take 5-10 years for any real changes to be made to our dependence on gas and foreign oil.

[MississippiDisneyFreak]

I remember my first trip to DW in 2003, we stopped just inside the Florida line and got gas...it was $1.75 and I was outragged because it was like .30 cents a gallon more than home....That was only 5 years ago and its more than doubled....

[Davyjones]

Never going to see $2.00/gallon gas ever again. Need to develop and fund alternative fuels in order to get us away from foreign oil dependence. Ethanol-85 is not the answer. Studies already show that the amount of fuel, chemicals and energy spent in producing E85 is worse for the environment than production of regular fuel. Drilling on our land is a stop gap measure, but it is just that. Plus, it will destroy the lands that we drill and mine into, whether it be on land or under the sea. How many animals and plants would be displaced when we do this?

One of the best answers with the developing technology would be fuel cell vehicles. Good forthe enviroment too. Electric cars aren't bad, but not great either. Need to develop alternative fuel resources in order to help the Earth and ourselves.

[caryrae]

Wow I guess everyone was wrong we are down to $1.69/gal now. I suppose not everyone is under $2.00/gal but we are all still way down. Good to see.

[barnaby]

Wow I guess everyone was wrong we are down to $1.69/gal now. I suppose not everyone is under $2.00/gal but we are all still way down. Good to see.

Its a good and bad thing.
Good because gas is cheap again.
Bad because it means the economy is struggling and that demand for gas is down.

[Ian]

Will we ever see gas under $2 a gallon ever again?

Just gassed up yesterday for $1.83 a gallon. I'd say we know the answer to your question.

The laws of supply and demand do work, although barnaby is right ... it is a sad side effect of our very battered economy.

But that's okay, because everyone who is paying half as much for gas as they were a year ago now has more free cash, so hopefully once everyone's nerves settle down they'll pump (no pun intended) some of that money back into our economy and get things going again!