There was an interesting leak over the weekend from the Corona Virus expert at Univ of Hong Kong, Someone released a conf call recording unauthorized. That's what I am quoting above. I think AccuWeather was involved in confirming...AccuWeather started at Penn State (go State) or was it weather channel I forget.
Commodity price wars are cheaper to fight when overall volume is low. You can knock out your opponent without sacrificing quite as much of your own.
+1 This may well be the dead-cat-bounce for the House of Saud. They can probably put oil into tankers for $15 a barrel, which is arguably close to the lowest inflation adjusted price ever for oil....and they can probably use this to push off the Rooskies and make the fracking Norteamericano frackers re-cap their wells for a while. After all of the car dealers come down off of their sugar-rush from tax rebate spenders it will be a REALLY REALLY good time to buy a PHEV, not because oil is going to go back to record highs again, but because PHEVs are probably going to be softer sellers than they were back when gas was > $2 a gallon.....and even $2 a gallon gas isn't something you want to waste. Once the supply chains settle out look for some fire-sale pricing on eco-buggies.
https://www.accuweather.com/en/health-wellness/coronavirus-expert-says-the-virus-will-burn-itself-out-in-about-6-months/679415 Yes AccuWeather
Yeah....but you get to live in Bastan. I'm in the $1.80's here in flyover country. Oil just blew through $40.....but it's been lower even during my tenure on this forum. Not quite the time to start buying gold and digging a bunker yet.
still in orlando. unsure where boston pricing is at. but $1.80's is not unusual for your area, is it?
Usually we hover at $2. Currently the lowest top tier is $1.89 which means Murphy is selling at $1.86. I have a pic on my phone from the last gas dip @ $1.76....and this price dip may drive prices below even that. Even adjusted for inflation $1.50 is still to expensive to buy a gas-hog....besides, gas hogs tend to be expensive. Like I said.....in about 6 months PHEV sedans will be on super sale because people are already staying away from sedans and Priuses in droves.
Hopefully they fixed the range issue for 2020. Drinking Problem: Owners Cry Foul Over Toyota RAV4 Hybrid Gas Tank - The Truth About Cars
Hopefully fixed, but apparently the dealer knows how to fill it up. As Gen2 owner, I know how to convince the tank to take more gaso in, so if the car misbehaves, I am ready for it! Since Gen2 was a bladder tank I was less confident in how far to push the limits, but a fixed tank I will fight to end.
Hey if cheap oil sticks around a few more weeks, the next generation of SUVs will have features like 2 bedroom/1.5 bath, patio & firepit options. This could be pretty fun!
While average gas prices are starting to show some decline over the nation, they sure are betraying no hint of a downturn here:
So about 3 or 4 years ago, elite economist A. Gary Shilling predicted the crude oil price war we see today. That was when I first said maybe we see $1 gasoline. But even the world's smartest economist might be able to say *what* might happen, but no one can really predict *when* it will happen. Actually Shilling was also pretty good about saying there could be an unforeseen driver that could emerge, such as international conflict etc.
