Oil Prices Continue to Decline....

[JudyH]

I believe that so much of the reason for our economy getting to the point that it has is because of our dependence on oil. This country consumes so much oil - and as the prices climbed and climbed, our entire economy just dug its grave deeper and deeper.

Now that the economy sucks and people are losing jobs, huge corporations are asking the government for loans, big banks are getting "bailouts", people are having to cut back drastically. This means now they are buying less gasoline and petro products.

Crude oil prices are continuing to drop (now around $40 per barrel). The high was around $150 per barrel just a few months ago -- over 3 times the current cost.

If we continue to have all of our energy needs tied to crude oil, we will forever always be on the "brink" of something bad happening. Unfortunately, as prices have been going down, so has the necessity for alternative sources of energy.:mad:

[Sinfonian]

My brother and I were talking about the drop in prices today. The lowest I've seen is $1.78 for regular. Insane.

What he said has some merit. With no distinct reason it climbed above $4 and no reason it's dropped below $2 proves one thing, that we have no reasonable idea when the price will spike again. So we can never count on that in our budgets. That is a problem in good times, and worse in bad.

Now he went further to say it was collusion, but I won't go there, though I won't argue it either.

We hadn't thought of the point you made about the need to work on alternative energy. I agree it's a shame.

That said, my family has not gone back to driving tons. Our conserving ways continue and are a habit. I hope others do the same!

[rdsaltpower]

I agree that fuel prices will never be steady or stable for the coming years. Too much volitilaty in this world! I have reduced consumption along with help from my family and we will never go back to business as usual. Home food production is another facet of the solution. A VERY important one I might add. Next year I plan on expanding on my garden, along with trying a few alt. energy projects on my drawing board. I will also attend a beekeepers meeting here in my home town and try to learn. I would be interested in limited bee keeping on my property. :)

[plantoneonme]

Gas prices and to stock market plunging has been a big wake up call for us and many other people. We have made many adjustments to our lifestyle and will continue those. I don't care what anyone in government is saying...we are in a depression. Although we lived pretty simply before, we are making changes now and preparing for the future as never before. A simple thing of growing some of our own food has given us a sense of empowerment like never before. There is something wonderful knowing that you have some control over something as simple as how we will eat. No, we will NEVER to back to the way things were before...sometimes I wonder if this is such a bad thing...

Kim

[Garden Green]

A friend of mine works for Marathon Oil and has warned us accurately when the prices will jump and fall. According to what he has told us recently, don't expect the prices to stay low. Expect them to jump up again, probably around the end of winter if not sooner. I hope he is wrong this time but it would make sense. Spring time is for road trips.

[plantoneonme]

I knew the cheaper gas prices weren't going to last...in our area they jumped nearly .30 a gallon overnight. I am so glad we learned to economize not only in driving but in other areas of life. I am planning on expanding the gardens this year in hopes to get enough to can or freeze to get us through the winter...may not be totally possible this year but if I add on year by year, eventually the gardens should produce enough.

Kim

[gardengirl72]

Oil prices affect every aspect of our lives. It's scary to think that oil will go up again. Hopefully, we won't see over $4/gallon to fill the tank in the near future. One good thing that has come out of it is that consumption has gone down. Albeit, due to manufacturing cuts, but a lot of house holds have made conservation a priority. It would be great to get to a happy medium of declining consumption and conservation, low gas prices and JOBS! I had a tinge of positivity with I heard that interest rates went down. It's a good think in the short term, but not in the long term considering the rates can't go much lower. This period in our history is a great opportunity to engage our children so that energy conservation is second nature when they are in charge.