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Just filled up tonight for $1.79. Looked back at an old archived topic for prices.  Over a $2 difference that some of us were paying a couple of years ago! Use to have to run the credit card twice to do a fill up because of $ limits on the pump. Not a problem now.

 

I know we are all loving the low prices, but I can't stop to think that there must be a lot of oil workers out there that don't have a job now because the price of a barrel of oil.

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out here it average about 1.79 for diesel and the same for gas, I'm lovin it, but got family in the oil patch around  Farmington, N.M and they are hurting for work, and don't look like its going to change anytime soon, but that's life in the oil patch,

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1.69 here.

I don't see prices recovering soon. With OPEC keeping the markets flooded, China's economy going in the crapper, and Iran being allowed to start selling oil it'll stay down for a bit.

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It is going to be an entertaining market for certain.  I honestly don't know what prices are going to do.  It really looks like prices will continue to be very soft at least for the price per barrel of crude.  But, I have a lot of ties to the oil industry and I like seeing american dollars go to the U.S. blue collar worker and your 401k/IRA rather than a Sheik, Imam, or Venezuelan Commie (noble Canadians are lumped in with the (north) American blue collar worker).    Not saying you have to feel bad, just saying that I have a weird tie and love of high energy prices.  

I've read a lot of smart folks that have said that the commodity super cycle is over, just like it was in the 60s and 70s.  In my opinion, with the free market we (in theory) know and love here in the free world, low prices and high prices are the best cure for low or high prices, respectively.  However, with the amount of meddling the global governments are doing with monetary policy and racing each other to the bottom in terms of inflation... it is my own opinion that oil is one of the best barometers for the global economy as a whole.  In short, cash is going to continue to be king.  Debt is good only if it is at a low rate and the value of the asset leveraged is undervalued.  

Enjoy it while it lasts, gentlemen.  I don't forsee that we will be having any sort of "economic recovery" that we want.  I am not saying that the US is in a bad position at all, as we are in the best position globally, but save your dollars.  Cash is king. I hope to buy property, guns and some specific machine tools when I find good deals in the next 5 years... at least if I can keep my jobs!

Edited by CSM
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Whole life is the safest place to save your money and not have the market losses like a 401K or roth, they are directly tied to the energy sector and look how good they are doing now.

I have a 401K and also have been flooding my Whole life policy with every cent I am allowed to put into it yearly as it is money I can use as I see fit without paying a penalty to someone else and it earns 4-5% dividend income every year plus I can take loans out from my own money and pay myself back with interest..................I am my own banker.

 

Look into these versus the government run retirement systems folks you will thank me when you realize how they work for you not against you like the fractional banking system.

Edited by Wild and Free
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$2 here at home in NC. Paid $1.79 in VA on the way home on Thursday. While I enjoy the prices coming down I would rather see stability in the prices. I just dont think that is going to happen any time soon though. 

I agree with WF on the debt free thing. Slowly working my way there. Should be there before retirement.

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11 minutes ago, Mopar1973Man said:

Debt free here.. Everything is pay for. No loans outstanding...

Best way to be.... I don't think they loan money to Hermits living in the mountains anymore.

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A couple nights ago I filled up for $1.29 a gallon, it's back up to $1.59 now. 

The lack of stability is why I got canned and have been unable to find steady work in a year. I moved from plant work where I was building air to air heat exchangers to being a mobile heavy equipment service tech. Got canned and replaced by my helper who was paid half of what I was making.Tried to go back to plant work but they had already started laying people off, my shop had dropped from 35 people to 8. Every place worth working for has laid people off and none have started hiring again. It sucks big time. 

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1 hour ago, Mopar1973Man said:

Debt free here.. Everything is pay for. No loans outstanding...

It has been over 10 years that I have had a loan. My only bill is a life insurance policy.

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1 hour ago, The_Hammer said:

A couple nights ago I filled up for $1.29 a gallon, it's back up to $1.59 now. 

The lack of stability is why I got canned and have been unable to find steady work in a year. I moved from plant work where I was building air to air heat exchangers to being a mobile heavy equipment service tech. Got canned and replaced by my helper who was paid half of what I was making.Tried to go back to plant work but they had already started laying people off, my shop had dropped from 35 people to 8. Every place worth working for has laid people off and none have started hiring again. It sucks big time. 

That has to hurt. Makes me wonder what the root of all this is.... maybe they are trying to create another shortage like back in 09 with the drastic price increases. But then I still cannot understand because I don't think demand/ consumption has dropped off even with the global warming talk.

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Come to my neighborhood there is so many people without jobs and on welfare it would make most people sick to look at. I was helping a friend that works at the local Chevron Station and they closed down early on the shop side at 2pm because no business. Let's say for the day day they made less than $100 in sales. Business is not going good locally at all. Unemployment is very high here. Friend of mine that lives in Walla Walla WA his wife just lost her job as a Manager at the Taco Bell and now been reduced to normal worker because she was making too much money and corporate couldn't pay her any longer. So, either had a choice get fired or get reduced.  Another gent I went to look at a vehicle admitted to being super slow and they really need the income from the fishing torment that is coming soon.

Edited by Mopar1973Man

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23 minutes ago, JAG1 said:

That has to hurt. Makes me wonder what the root of all this is.... maybe they are trying to create another shortage like back in 09 with the drastic price increases. But then I still cannot understand because I don't think demand/ consumption has dropped off even with the global warming talk.

I'm in an aera were the majority of work is oilfield related, or at the very least oilfield influenced. If you manage to impress the right people at the right time you could end up like a close friend of mine, making over $80k+ a year AFTER taking a pay cut and losing all of his bonuses. My day will come, just not sure when. 

2 minutes ago, Mopar1973Man said:

Come to my neighborhood there is so many people without jobs and on welfare it would make most people sick to look at. I was helping a friend that works at the local Chevron Station and they closed down early on the shop side at 2pm because no business. Let's say for the day day they made less than $100 in sales. Business is not going good locally at all. Unemployment is very high here. Friend of mine that lives in Walla Walla WA his wife just lost her job as a Manager at the Taco Bell and now been reduced to normal worker because she was making too much money and corporate couldn't pay her any longer. So, either had a choice get fired or get reduced.  Another gent I went to look at a vehicle admitted to being super slow and they really need the income from the fishing torment that is coming soon.

Here your either barely getting by, or rolling in dough. I just want to be able to pay my bills, have some nice things, and enjoy life. 

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3 hours ago, JAG1 said:

I started doing better financially when I put it all into God's hands and just let it go. I began concentrating on always doing the right thing for others, rather than thinking about money.

I was raised a Christian but Lord knows I haven't been the best representative of Him. Drinking, smoking, fighting, chasing girls, ect. I have always gone out of my way to help people though, be it replacing a turbo on a 7.3 at 3am, driving 4 hours to help a friend move, ect.

The ADHD didn't help my decision making skills whatsoever, I know that for a fact. I also got REALLY angry with people, especially with smart *** bosses. I never beat up a boss but I did have some "words" with another mechanic out by the wash rack one time smiley_abused.gif.83aed115662e5707ddd151. We settled our differences and went on about our work, boss was fine with it too lol. Drinking + ADHD = getting banned from a few bars. It seems using some guy's face to scrub an asphalt parking lot is frowned upon, even if he pushed your girlfriend to the ground. 

I'm a MUCH calmer and level headed person these days. I'm definitely NOT going to try and force something to happen, I've learned that lesson.

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And all this time i thought it was just the alcohol and asphalt that would get you barred. I am sure that we are not the only ones that might not be the best representative But we try to keep out hearts as true as we can..

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One of the most well respected pastors of our time the guy with the thick Texas Drawl on the radio, Dr. McGee, said,'' of all the sinners in this world, I am chief''. If you ever get a chance to hear him you will know he is real. Doesn't play lip service with a highly polished sermon like a lot of them, you can tell this guy has a heart for the Lord and Scripture and says whats on his mind..

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