Gas prices would go down after I sell my fukking Cadillac. Thanks Obama 
Have We Been Trained To No Longer Acknowlege Gas Prices????? That shyt Is Under 2.00$ Breh's
- Thread starter DetroitEWarren
- Start date
Because Obama is only a part of it. More of the oil producing nations are stabilizing. America is producing more oil and natural gas than ever before and OPEC sees no need to reduce the level of production because people are buying more cars again and gas is being sold at rates that are just as much if not higher than pre-recession.
In other words, the market is saturated and the people that would make money from it being scarce are STILL making money with it being abundant.
In other words, the market is saturated and the people that would make money from it being scarce are STILL making money with it being abundant.
NormanConnors
Detroit/MSU Spartan Life
She was clean though, did it get totaled?last car i had was a 96 deville. it costed me around 75 to fill it and i got like 11 miles to the gallon.
miss my baby tho. havent gotten another car since
*edit* nevermind I saw what happened above
Went through something similar with my T-Bird
thats not mine exactly but it looked just like that. i had engine trouble and the electrical system was faulty. i spent $600 on electrical parts and i ended up having to take the L cause they dont give refunds on electrical parts.
American Airlines says 'strong' profit to allow bigger wage hikes
2 Hours Ago Reuters
American Airlines said Tuesday that it plans to pay flight attendants an additional four percentage points on top of raises already averaging 10 percent, thanks to profits that have strengthened as oil prices have collapsed.
In a letter to employees, Chief Executive Officer Doug Parker said "very strong" results for 2014 would allow the carrier to lock in substantial wage hikes for the flight attendants. Other work groups would also see improvements in their raises—once their respective contracts are ratified.
Read MoreSouthwest jet damaged in brush up
Plummeting oil prices have slashed costs at the world's largest airline by passenger traffic, which is poised to save more than its competitors because it did not hedge against prices rising.
Getty Images
A file photo of American Airlines flight attendants
Unions have called on Parker to tie employee compensation to the company's performance, but Parker has opposed profit-sharing, practiced by Delta Air Lines, United Airlines and Southwest Airlines.
"There are many ways to share success, but when it comes to compensation, we believe it is best to reward (workers) with industry leading wage rates not lower wages supplemented by compensation that varies with airline profitability," he wrote in the letter, obtained by Reuters.
The pay increases show how seriously American views labor relations, which have often emerged as a stumbling block in other airline merger deals, as it joins its operations with US Airways a year into the carriers' merger.
Read More Airlines cued up for Cuba: Former airline CEO
Hourly rates for flight attendants will be seven percent higher than those at Delta or United, Parker said in the letter. A separate letter from the airline cited an hourly rate of $24.18 for first-year flight attendants.
Yet the announcement also placed American's other workers under pressure to conclude contracts, a prerequisite for their raises. The carrier hopes to avoid the fate of other merged airlines that struggled for years to reach deals for all their workers.
Pilots are the next group up for a contract, and the company said in a third letter Tuesday that it had ended negotiations with them, leaving them to choose between a final offer or arbitration as early as February 2015.
The letter added that if pilots accept the offer prior to Jan. 3, higher pay rates would be effective retroactively as of Dec. 2, 2014, rather than after the agreement.
http://www.cnbc.com/id/102294049
2 Hours Ago Reuters
American Airlines said Tuesday that it plans to pay flight attendants an additional four percentage points on top of raises already averaging 10 percent, thanks to profits that have strengthened as oil prices have collapsed.
In a letter to employees, Chief Executive Officer Doug Parker said "very strong" results for 2014 would allow the carrier to lock in substantial wage hikes for the flight attendants. Other work groups would also see improvements in their raises—once their respective contracts are ratified.
Read MoreSouthwest jet damaged in brush up
Plummeting oil prices have slashed costs at the world's largest airline by passenger traffic, which is poised to save more than its competitors because it did not hedge against prices rising.
Getty Images
A file photo of American Airlines flight attendants
Unions have called on Parker to tie employee compensation to the company's performance, but Parker has opposed profit-sharing, practiced by Delta Air Lines, United Airlines and Southwest Airlines.
"There are many ways to share success, but when it comes to compensation, we believe it is best to reward (workers) with industry leading wage rates not lower wages supplemented by compensation that varies with airline profitability," he wrote in the letter, obtained by Reuters.
The pay increases show how seriously American views labor relations, which have often emerged as a stumbling block in other airline merger deals, as it joins its operations with US Airways a year into the carriers' merger.
Read More Airlines cued up for Cuba: Former airline CEO
Hourly rates for flight attendants will be seven percent higher than those at Delta or United, Parker said in the letter. A separate letter from the airline cited an hourly rate of $24.18 for first-year flight attendants.
Yet the announcement also placed American's other workers under pressure to conclude contracts, a prerequisite for their raises. The carrier hopes to avoid the fate of other merged airlines that struggled for years to reach deals for all their workers.
Pilots are the next group up for a contract, and the company said in a third letter Tuesday that it had ended negotiations with them, leaving them to choose between a final offer or arbitration as early as February 2015.
The letter added that if pilots accept the offer prior to Jan. 3, higher pay rates would be effective retroactively as of Dec. 2, 2014, rather than after the agreement.
http://www.cnbc.com/id/102294049
VladTheImpaler
The Sensational Prince
Under 2 dollars....you must live in the fukking sticks.
You all will be happy when the first 7-11 comes to town.
You all will be happy when the first 7-11 comes to town.
Steve Piffler
I got them CERTS
i live in Houston and filled up this morning for $31. gas was $1.85 at the Exxon that i went to.
and i certainly don't live in the sticks...
VladTheImpaler
The Sensational Prince
i live in Houston and filled up this morning for $31. gas was $1.85 at the Exxon that i went to.
and i certainly don't live in the sticks...
Steve Piffler
I got them CERTS
Due to the fall in oil prices, Saudi Arabia is running a $39 billion deficit. 2/3 of Saudis work for the government. Saudi budget deficit going to 5% of GDP next year
Submitted by IWB, on December 25th, 2014
Saudi to Dig Into Reserves for 2015 Budget
RIYADH, Saudi Arabia — Saudi Arabia’s Cabinet on Thursday endorsed a 2015 budget that projects a slight increase in spending and a significant drop in revenues due to sliding oil prices, resulting in a nearly $39 billion deficit.
In a sign of mounting financial pressure, the Finance Ministry said the government would try to cut back on salaries, wages and allowances, which “contribute to about 50 percent of total budgeted expenditures.” That could stir resentment among the kingdom’s youth, who make up a majority of the population and are increasingly struggling to find affordable housing and salaries that cover their cost of living.
The price of oil— the backbone of Saudi Arabia’s economy — has fallen by about a half since the summer. Saudi Arabia is extremely wealthy, but there are deep wealth disparities and youth unemployment is expected to mushroom absent a dramatic rise in private sector job creation. The International Monetary Fund says almost two-thirds of employed Saudis work for the government.
A the height of Arab Spring protests sweeping the region in 2011, King Abdullah pledged $120 billion to fund a number of projects, including job creation and hikes in public sector wages. The move was largely seen as an effort to appease the public and blunt any challenges to monarchical rule.
MORE:
http://www.nytimes.com/aponline/201...al&utm_source=twitter.com&utm_campaign=buffer
Saudi budget deficit going to 5% of GDP next year : “Saudi Rulers to Curb Wages as Kingdom Confronts Oil Slump”
Saudi authorities pledged to curb wages and push ahead with investments next year as the world’s largest oil exporter seeks to counter the effect of tumbling crude prices on the economy.
The government said it expects the budget deficit in 2015 to widen to 145 billion riyals ($39 billion), from 54 billion riyals this year, the Finance Ministry said today. That amounts to about 5 percent of gross domestic product, according to Arqaam Capital, a Dubai-based investment bank.
The Finance Ministry said the government will continue to invest in areas such as education and health care, while exerting “more efforts” to curb spending on wages and allowances, which make up about 50 percent of spending. The kingdom will resort to borrowing and use of reserves to plug the budget deficit, the state-run Saudi Press Agency said, citing Economy Minister Mohammad Al-Jasser.
Projected revenue will drop more than 30 percent next year to 715 billion riyals, while expenditure was set at 860 billion riyals, budget data show. Spending in 2014 is estimated to have been 1.1 trillion riyals, 29 percent higher than target.
During his nine-year reign, King Abdullah, 90, has allocated a record amount of money to raise wages, build roads, industrial centers and airports as he sought to bolster growth and keep political unrest at bay. Government spending has been driven by crude prices averaging above $107 a barrel since the end of 2011. Oil is now trading at nearly half that level, having slumped to its lowest since 2009.
http://www.bloomberg.com/news/2014-...2015-budget-deficit-as-oil-prices-plunge.html
Read more at http://investmentwatchblog.com/due-...ng-to-5-of-gdp-next-year/#SppRZkcMgrKqHO5E.99
Submitted by IWB, on December 25th, 2014
Saudi to Dig Into Reserves for 2015 Budget
RIYADH, Saudi Arabia — Saudi Arabia’s Cabinet on Thursday endorsed a 2015 budget that projects a slight increase in spending and a significant drop in revenues due to sliding oil prices, resulting in a nearly $39 billion deficit.
In a sign of mounting financial pressure, the Finance Ministry said the government would try to cut back on salaries, wages and allowances, which “contribute to about 50 percent of total budgeted expenditures.” That could stir resentment among the kingdom’s youth, who make up a majority of the population and are increasingly struggling to find affordable housing and salaries that cover their cost of living.
The price of oil— the backbone of Saudi Arabia’s economy — has fallen by about a half since the summer. Saudi Arabia is extremely wealthy, but there are deep wealth disparities and youth unemployment is expected to mushroom absent a dramatic rise in private sector job creation. The International Monetary Fund says almost two-thirds of employed Saudis work for the government.
A the height of Arab Spring protests sweeping the region in 2011, King Abdullah pledged $120 billion to fund a number of projects, including job creation and hikes in public sector wages. The move was largely seen as an effort to appease the public and blunt any challenges to monarchical rule.
MORE:
http://www.nytimes.com/aponline/201...al&utm_source=twitter.com&utm_campaign=buffer
Saudi budget deficit going to 5% of GDP next year : “Saudi Rulers to Curb Wages as Kingdom Confronts Oil Slump”
Saudi authorities pledged to curb wages and push ahead with investments next year as the world’s largest oil exporter seeks to counter the effect of tumbling crude prices on the economy.
The government said it expects the budget deficit in 2015 to widen to 145 billion riyals ($39 billion), from 54 billion riyals this year, the Finance Ministry said today. That amounts to about 5 percent of gross domestic product, according to Arqaam Capital, a Dubai-based investment bank.
The Finance Ministry said the government will continue to invest in areas such as education and health care, while exerting “more efforts” to curb spending on wages and allowances, which make up about 50 percent of spending. The kingdom will resort to borrowing and use of reserves to plug the budget deficit, the state-run Saudi Press Agency said, citing Economy Minister Mohammad Al-Jasser.
Projected revenue will drop more than 30 percent next year to 715 billion riyals, while expenditure was set at 860 billion riyals, budget data show. Spending in 2014 is estimated to have been 1.1 trillion riyals, 29 percent higher than target.
During his nine-year reign, King Abdullah, 90, has allocated a record amount of money to raise wages, build roads, industrial centers and airports as he sought to bolster growth and keep political unrest at bay. Government spending has been driven by crude prices averaging above $107 a barrel since the end of 2011. Oil is now trading at nearly half that level, having slumped to its lowest since 2009.
http://www.bloomberg.com/news/2014-...2015-budget-deficit-as-oil-prices-plunge.html
Read more at http://investmentwatchblog.com/due-...ng-to-5-of-gdp-next-year/#SppRZkcMgrKqHO5E.99
Why Saudi Arabia is still in charge
Amrita Sen
Opec’s most influential member cannot be taken for granted
The oil price collapse that started in October 2014 has yet to run its course but this much is already clear: it will be seen as a historic event.
The market has never seen anything like this before. The rout in 2008-09 was arguably more dramatic, but led by factors outside of the oil market. It was a result of a financial crisis and a sharp contraction in economic growth, which sapped demand for oil.
But this time it is different and not just because of the relative scale of price moves. The 2014 sell-off originated in the oil market: first from rising inventories as demand weakened and unplanned outages eased; and then when Opec — effectively Saudi Arabia — decided not to intervene and let market forces rule.
One of the reasons Saudi Arabia relinquished its role as a swing producer is precisely because of these differences — in 2008, external factors caused the drop in demand, which Opec then took action to correct. This time around, the problems came from within.
Production cuts by Saudi Arabia to shore up prices would therefore only result in the kingdom losing market share given the inability and unwillingness (for various reasons such as lack of revenues or high social spending) of other Opec and non-Opec countries to reduce output.
Inevitably, the decision by Opec to “roll over” the existing 30m barrel a day production quota at its November meeting revived old debates about its relevance and importance in the market, especially in light of the growth in US tight oil, or shale output.
But these exchanges usually ignore one simple point. The decision to not intervene is a brave one given that it signals a departure from what economic theory would suggest an oil producer should focus on — revenues.
Saudi Arabia is giving up billions of dollars of revenues in the short term and running a $39bn budget deficit in 2015, in an effort to retain market share. It is betting a period of lower prices (which it can withstand given plentiful foreign exchange reserves) will shake out some high cost producers.
For the industry, not only has the recent collapse broken a long period of high and stable oil prices, it has also been a huge wake up call especially in light of Saudi Arabia actively talking down the market, something which is unprecedented
Indeed, Saudi Arabia’s oil minister has stated openly that irrespective of price levels “be it $40, $30 or $20 per barrel” they would not reduce output.
For the industry, not only has the recent collapse broken a long period of high and stable oil prices, it has also been a huge wake up call especially in light of Saudi Arabia actively talking down the market, something which is unprecedented.
The general assumption since the global financial crisis, when Opec cut supplies by 3m barrels per day, led by Saudi Arabia, was that the kingdom would ensure prices stay within its desired range, which eventually settled at $90-$110.
That complacency meant US tight oil producers went on a tear, cranking up capital expenditure and racking up debt, while the oil majors focused on projects in ever more challenging locations, resulting in soaring costs. According to our analysis, more than a third of global oil production is uneconomic (although these will not necessarily be shut in) at today’s prices and more than 2m b/d of new projects are at risk.
In depth
Oil: the big drop
Latest news and comment on the global economic and political consequences of tumbling oil prices
Further reading
So, Opec’s decision to not intervene and Saudi Arabia’s stubbornness (if one may call it that) has taught the market several lessons: that Opec and its biggest producer should not be taken for granted. That it may be willing to pursue longer-term objectives, even at the cost of near term revenue.
The consequences are profound. No boardroom discussion at an oil company will ever be the same again. Pursuing projects at any cost, something already being questioned by investors, will now be more closely scrutinised by management if Saudi Arabia is no longer the price stabiliser people have expected it to be.
And if these costly projects are not undertaken, the steady growth in non-Opec output will slow. Years of near 2m b/d of supply growth will be few and far between in the future; the steady state may well be 0.5m b/d at best.
The Commodities Note is an online commentary on the industry from the Financial Times
Amrita Sen is chief oil analyst at Energy Aspects, a London-based consultancy
1.89 @ the Kroger in my town, and that's without the Kroger card
Filled my Lac up wit 34 dollars
JoseLuisGotcha
Aka Allhiphopsux
Imma stock up and when those prices spike imma go door to door on some
