Heard Gas prices could get down to a 1.00. what does this mean for our sport?

[Clayton_Wetter]

Gas prices are being driven artificially low to hurt Russia.

And our own drilling.

[plunks7]

I say take the opportunity while you can. It won't stay like that forever. And besides that the oil company's have screwed us over for years.

[MI Dirt Fan]

It doesnt always affect the local companies either. http://www.foxbusiness.com/markets/2...-downturn.html

[Aluminium Block]

Low fuel prices are the best thing possible for the economy. Everyone that drives has more disposable income and can spend it on other things that feed the economy and jobs instead of funneling everything to the oil companies and their investors. Only a small percentage of people benefit from high oil prices. Which is exactly what has been wrong with this country lately. A few getting rich at the cost of many.

[FF21]

Just means that racing gas manufacturers will make an even bigger profit because there price only goes one way.....up!

[TS FAN]

Gas prices going down in America can be a very bad thing for our economy. What people don't understand is that the oil companies were investing a lot of money that were loans to build new oil rig and pipelines. The government was the one handing over the money. When the price drops the companies are still paying the loan off, but not making the same amount when they took the loan. The gas companies were making a killing so they take out more money than they need like most people then can't pay it off. If the gas prices drop to 1.00 the government will have every oil company defaulting on there loans and the economy will crash.

Someone posted above about FedEx charging still for shipping. This is because they probably signed a contract to pay a flat rate on gas at 2.20 from Exxon. When the gas prices go above that then FedEx wins. What is happening to a lot of shipping companies is they are stuck in those contract when the prices drop and cant get out of it. This is what is happening to FedEx.

good post. There is a lot more to this than many think. As i said, lower reasonable gas prices are great but bottom falling out is not. Several reasons you mentioned. Some one always has to pay the freight. Just like raising taxes on Corps. Consumers pay, not the Corp.

[Tireguy17]

Low fuel prices are the best thing possible for the economy.....

Right from ABC News last night:

It's been a turbulent ride for stock market investors this year and it got worse Wednesday.
A broad downturn in U.S. stocks on another volatile day for crude oil prices knocked the Standard & Poor's 500 index down 10 percent from its November peak. That's known as a correction on Wall Street, and it's the second time in less than five months for the S&P 500 index, considered the bellwether for the stock market.
The rocky start reflects mounting worries on Wall Street about a slowdown in the global economy, plunging oil prices and the implications for U.S. companies.

[kazual]

Watch state and federal lawmakers use this to increase fuel taxes, they think we won't fight it as hard with many of us feeling all fat and happy with gas and diesel being cut in half. Bet your bottom dollar they won't give it back when prices go back up, which they will at some time.

[Bubstr]

Everyone seems to want to blame the Oil Companies. Sure they most certainly took advantage of high oil prices and some even participated in driving prices up, but the big culprit in this was investment banking. Did you realize that some of these firms where holding over 10% of all the oil in the world and could manipulate three different commodities markets, by trading back and forth. They caused the rise in price, now, just like the home loan fiasco, they will want bailed out. Maybe a crash isn't such a bad thing. Isn't it time the market players paid their own losses at the markets, instead of the US taxpayer.

This happened in 2006 2007 2008. Congress knows they broke commodity laws and nothing has ever been done. They where over the guidelines of market cornering and they where too big to fail or go to prison.

This is believed to have started the crash in the housing market by some. It was a sharp down turn in household finances that started the house foreclosures.

The question, can the US afford high gas prices or can the speculators afford Low gas prices? Is the same. Yes they can, but not overnight. The sharp rises and falls are what hurts. Manipulating markets are what causes the sharp rises and fals. Market gas price can change over night, but your income doesen't