hungryhorace

The Dow opened at its lowest since 2008 yesterday. The economy of China directly impacts on America. The low oil price has a significant impact on the economy.

zargof

No it didn't. The Dow was still about 17,000, around what it last was in October.

ageofpatels

Yep US is luckie, UK pay a heavy plrice, tax and duty at £1 per liter

Owen778

Indeed. I just looked into it, and the only thing I can see that Horace might be confused with, is it was the worst first day's trading of the year since 2008.

If the Dow was actually as low as even the highest point in 2008, it would have dropped well over 20% in one day. A bit of basic thought might have made him realise that if his statement was correct, it would be the main topic of conversation today, everywhere.

hungryhorace

OK, mea culpa on that.

Pulaski

It was down below 16,000 last summer.

Mr Horace, Sir, you appear to be hoping for unending steady economic growth when there has never been such a thing, and I do not believe there ever will be. Between wars, droughts, floods, famines, earthquakes, plagues and pandemics, strikes, recessions, bubbles followed by collapses, inflation, deflation, and numerous other acts of nature and ill-understood economic cycles and phenomena, I wouldn't expect more than about ten years of steady economic growth at most, and often much less.

Just face it, sooner or later the $4!t is gonna hit the fan, and we are overdue for an economic correction. Hopefully it won't be as painful as the last one.

At the moment we are in uncharted territory because almost 15 years of extremely low interest rates has created a populus and industrial/commercial sector that is dependent on extremely low cost credit. Any attempt to "normalize" interest rates is likely, IMO, to cause economic upheavals, as I believe the Fed is about to find out!

scrubbedexpat091

1.17/liter CAD$ today. (4.18 CAD$ per gal, approx 2.98 USD$)

The CAD$ is tanking, and the economy last I heard is slowing, and interest rates may end up in the negative however that works.

We haven't been hit as hard in BC, but we seem to have a more diverse economy then our oil neighbor Alberta, and the low loonie is helping bring tourists here.

scrubbedexpat091

Gas went up 2 cents today per liter, and Canadian dollar went down.

Pulaski

Bummer. /

My favourite BP is down to $1.739 this morning.

mrken30

My favorite BP is 115/78

mrken30

http://fuelfix.com/blog/2016/01/07/n...n-in-february/
Gasoline’s Sharp Drop Ignites Energy-Market Rout - WSJ

We are supposed to be on a downward trend

scrubbedexpat091

Not sure if we have BP here. Not branded anyhow, they could own stuff here though for all I know.

We have Petro Canada, Chevron, Shell, Husky and a generic native owned station.

The branded ones all match one another so they are all the same price, native place prices 1 cent below the others.

Was surprised to see a 1 cent decrease over the night.

Saved a whole 28 cents by waiting until today....lol

chawkins99

3 years ago, we did a road-trip from Alabama to the Grand Canyon, returning via Colorado Springs and St Louis. Almost 4,000 mile round trip.

I have a BP credit card and so tried to use BP wherever possible. However, we never saw a single BP station west of the Mississippi.



Price for regular increased yesterday to $2.04 having been below $2 for a couple of weeks. This morning it's back to $1.99.

Sheepdip

Just saw $1.59 in TX. Will it go below $1.50 do you think?

Pulaski

The geographic regions that different oil companies serve is largely a result of how the pieces of Standard Oil were split and renamed, and what happened them subsequently. The complete story is here, but for example, the NJ part of Standard Oil became Esso, the NY part became Mobil, and the California part became Chevron.

After the forced break up of Standard Oil, there were a number of mergers, with Amoco being active in buying up the ex-Standard Oil companies in several states, before merging with BP. For whatever reason BP has not been active in pushing into areas not already served by BP