I agree.Texas is an oil producing state.
Cheap gas ain't good for our economy.
We need $2.00 gasoline and $50.00 a barrel oil.
I've been through many booms and busts.
This cheap fuel is gonna hurt pretty quick.
Vaquero,
For ME to receive any royalty payments, we need 3.50 per gallon gas prices, as all of our wells are "strippers".
(I have NOT gotten a single dime of royalty in over 20 months.)
yours, satx
holy shit that's cheapGarage full of gas hogs, epically cheap gas, but nowhere to go.
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no way......less than a dollar?Station in Kentucky is at 94.9 (up from 89.9 last week according to GasBuddy)
$155.9 a gallon
I think I saw it for about $1.40 a couple of days ago.
I know it's hard on the oil workers, but I can't say that I'm not enjoying it being cheap. I drive 80 miles a day for work in an old truck that gets 14 MPG on a good day. You do the math on what that costs a month...
It's been hurting in the natural gas sector since the "recession". Many of the smaller companies have called it quits...not worth taking out of the ground. Having 'working interests' in nat gas hasn't produced revenue over expenses in at least 4 years. DangTexas is an oil producing state.
Cheap gas ain't good for our economy.
We need $2.00 gasoline and $50.00 a barrel oil.
I've been through many booms and busts.
This cheap fuel is gonna hurt pretty quick.
And a double whammy as folks are (generally) traveling less AND paying less for the fuel they do consume. DangIt’s not just the roughnecks.
The loss of excise taxes is going to hit the PUF, Rainy Day Fund, and Public School Fund pretty hard. Lower consumption tax revenue will impact DOT project funding and a lot of other programs.
Here’s just a high-level overview.
https://pbpa.info/resources/education/economic-impact-of-oil-and-gas-in-texas
After spending a year or so out in the Permian Basin, I could see the Nat gas glut coming. Nearly every job I was on involved power for a new gas processing plant. I expect propane to drop too. For some reason, it hasnt.It's been hurting in the natural gas sector since the "recession". Many of the smaller companies have called it quits...not worth taking out of the ground. Having 'working interests' in nat gas hasn't produced revenue over expenses in at least 4 years. Dang
BTW....Costco Cedar Park was $1.35 for 87 petrol yesterday...under two bucks for 93 octane. Diesel folks are still paying a hefty premium from the looks of it.
Note to self: Stay out of Odessa.
GasBuddy shows the highest price in LA now is $2.73.