Originally published at: https://boingboing.net/2020/04/02/the-oil-glut-is-so-bad-that-th.html
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Well we better hurry up and start burning it before the world comes to an end, or it’ll be a waste!
(I have to admit, I didn’t think gas would drop below $2 a gallon unless electric cars started seriously taking over.)
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Not the ideal path to reduce our unsustainable extraction of fossil fuels, but silver linings and all that.
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It’s still more than $3 a gallon in Washington state…
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I am just heartbroken for these poor, poor oil barons. I’ve been poor my whole life, but can you imagine the shock at being phenomenally wealthy just to wake up one day and find out you’re 0.000001% less wealthy? Bailout time!
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Where you at now peak oil people?
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Hopefully the De Beers people don’t give them any hints.
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Gas is $2.29 as of yesterday in Joshua Tree, my 1974 Doge PU is happy, my Prius could care less…
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This was just posted on my local news site:
The gas station at the corner near my house had unleaded at $1.87/gallon the last time I was out and looked. That’s been a week now.
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Texas Monthly’s Boomtown podcast is a very interesting review of the oil boom and fracking in the Permian basin. Oil companies are literally not making a profit fracking. This is nuts.
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Speaking of silver linings, it occurred to me that this whole pandemic thing may cause another catastrophe: Americans may be forced to wake up to the fact that the so-called “free market” is anything but.
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The cheapest near me is about 1.10, but I don’t drive. It was below a dollar at a few stores 2 days ago.
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What state are you in? That’s a wower…
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Once again trump is hand jerking Wall Street with his BS Tweets…
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Can’t we just use it for fracking to get that sweet natural gas out? Then we just pump the oil out, seems like a win/win to me.
Cry me a river. Never thought it’d take a pandemic to bring alternate energy into serious consideration. The other bonus is, if there’s little to no demand in the Middle East for oil, suddenly they own a worthless parking lot.
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Maybe gas is below $2 where you are, but in places like our hinterlands, very little will compel it to drop lower than it already is. Ya gotta get paid for what you already bought, dontchakno.
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Ohio, Cleveland area. Someone mentioned a station getting below .90 but I didn’t hear about it until later. https://www.news5cleveland.com/news/local-news/cleveland-metro/a-cleveland-gas-station-is-selling-gas-for-89-cents-yes-89-cents
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I topped up two days ago in Toronto for $0.65CDN/litre. That’s about $1.84US/gallon for those using obsolete units ($US and gallons 
). In recent years I’ve seen gas at more than double that, and a couple of months ago $CDN1.10 was a good price.
Traditionally, Canadian prices have been significantly higher than US, what with taxes and all.
It’s nice to know that soon the oil companies will be paying me to drive around. Self-isolating road trip!
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Ha, this is what thinking of market forces in anthopomorphised, teleological terms does to your brain:
“The price is trying to go to a level to force companies to keep the oil in the ground.”
I understand how this works, but when you think about it, ascribing agency and desires to “the price” is such a messed up way of thinking about it.
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