if you're so sure, calculate what you'll use for the rest of your life and buy futures contract(s) RB, all you have to do is roll it over periodically, you can have gas at this price for the rest of your life..no joke but be carefull, the future's not always as clear as it looks....
You boys should have listened to The Preacher Man back in June. http://www.youtube.com/watch?v=OSAZXz1b_x4 Get your news from the web instead of the controlled msm
The price of oil and gas will remain low through December. It gives the sheeple the illusion of "extra" money in their pockets which the government desperately wants them to spend on Holiday shopping.
No one knows what the future holds. Ask T. Boone - and he's 'in the know.' He's only been in the oil business his whole life, and just lost close to 1.5 billion in the last several months (so much money that he's reneged on a 180 million dollar pledge to Oklahoma State University). Oil is just as likely to head for $30 as it is for $80. Do you know how many variables (unknown and uncontrollable at that) that dictate the future price of something as complicated as gasoline? Everyone talks their book, and in reality, even the most intelligent geologists haven't the faintest notion of how much oil lay beneath the earths crust (let alone lay in the earth's crust, in the form of shale or tars or other matter), or where it's all located - they may know 1/100th of what's to know, if that.
The same argument holds true for every other single asset out there. Truth be told, near term supply/demand 'fundamentals' have barely changed in the last year. Demand for gasoline is down 1.9% year over year. That is a relatively uneventful change.
Since this is my old thread that someone brought up, I just want to say that now gas by my house is 1.63 per gallon. (and 1.59 about 2 miles away) The cheapest gas in the nation is at a Valero station in Kansas where they are paying 1.31 per gallon. I would LOVE to see 99 cents. That would be freakin' amazing! I cant imagine I will ever see that price in CA though as fed/state/sales tax alone accounts for about 43 cents of every gallon.
I have been mentioning etf USO for ever now. Both(crude oil and the etf) are down pretty much exactly 70%. but the correlation i care about is actual gas at the pump and the etf. the etf is down 70% while gas i payed during the peak has dropped about 60%. so it's not perfect, but it's pretty good. if an avg person fills up once a year at 20mpg and oil does fluctuate at around $80(just a number, could happen anytime) and gas at the pump rises 75% from current levels(again based on numbers i have seen), you could save $500-$600 a year. peanuts, but someone who drives say 50k miles a year, could be better for him/her. most people i talk to and tell this about just dont get it. wtf is so complicated about this. i think they r just not interested in savings. after all, foolish american consumers would rather buy than monsterous entertainment system