<p>Yup, Pelosi and company need to parade all those colluding executives and demand an explanation. How dare they lower the prices to pre-2000 level? and offer a bail out.</p>
<p>In Houston I saw that the park and ride parking lot appears more empty. They recently finished a major expansion of a free way - they doubled the lane capacity and had a traffic jam. Driving in the HOV lane feels lonely.</p>
<p>I researched the average price of a gallon of gasoline in 1966. It was $0.32 which is $2.16 in 2008. I saw regular gasoline in central Texas today as low as $1.50.</p>
<p>jym626 - wow! That’s awesome. We went out last night and drove through a more rural area than we live in, and my jaw dropped when I saw premium for less than $2 (I think it was $1.91). Am wondering what it is at Costco right now.</p>
<p>Was in Delaware the other day, $1.74 a gallon.</p>
<p>Our stations near us still @ $2.25-2.29-NY area</p>
<p>Kroger in Franklin, TN has regular unleaded for $1.47 per gallon.</p>
<p>$1.43 a gallon here!</p>
<p>Holy crap, could you imagine being under $1!?!?</p>
<p>We traveled south for the holidays. We were very happy to see numerous stations with gas under 1.59. It saved us some money since we drove. CIA, my H was also dreaming about gas prices rolling back to the under $1 per gallon era.</p>
<p>Filled up here yesterday at BJ’s. Regular was $1.80/gal. For around here, that’s a good price. </p>
<p>We drove south two weeks ago and got gas in VA for $1.65/gallon. </p>
<p>It was so nice to make that long drive and pay under $2/gallon for gas. Last time we drove it was almost $4/gallon (Memorial Day weekend).</p>
<p>It looks like the government is going to bail out the oil industry too.</p>
<p>My commute into NYC was cut by .5 hour each day when there was less traffic on the road. I didn’t mind paying higher gas price to get that extra .5 hour. I am hoping the winter weather will keep people off the road. .5 hour with my family was priceless to me.</p>
<p>northeastmom</p>
<p>March 22, 1999 was the last time the US average price of a gallon of gasoline was $.999
[U.S</a>. Retail Gasoline Historical Prices](<a href=“http://www.eia.doe.gov/oil_gas/petroleum/data_publications/wrgp/mogas_history.html]U.S”>http://www.eia.doe.gov/oil_gas/petroleum/data_publications/wrgp/mogas_history.html)</p>
<p>Well, DH can keep on dreaming about .99 gas! I’ll be content with what we paid over the Thanksgiving holiday.</p>
<p>Not only was gasoline below $1.00, the stock market was “smoking” in Spring of 1999.</p>
<p>
</p>
<p>And the US was on its way to a second annual budget SURPLUS and balancing the federal budget. [Budget</a> Deficit Narrowed in May - New York Times](<a href=“http://query.nytimes.com/gst/fullpage.html?res=9404E3DD113BF931A15755C0A96F958260]Budget”>http://query.nytimes.com/gst/fullpage.html?res=9404E3DD113BF931A15755C0A96F958260)</p>
<p>What a difference 8 years make.</p>
<p>Actually more like 1 year. How soon people forget. Nearly 80% loss in the Nasdaq. I seem to remember Clinton was still President then too.</p>
<p>[Crashes:</a> The Dotcom Crash](<a href=“http://www.investopedia.com/features/crashes/crashes8.asp]Crashes:”>Dotcom Bubble Definition)</p>
<p>Because of the economy, I’m seeing people who are still being much more conservative about their gasoline use when they have so many other places to put their money. I hope there will be relief in the cost of heating oil. My concern is that companies who were thinking about bringing jobs back to the States because shipping was getting prohibitively expensive may not follow through until gas prices rise again…and they will. This respite is a chance to make the changeover cheaper, not an excuse to avoid making changes all together.</p>
<p>barrons</p>
<p>Nasdaq isn’t the only game in town. The Dow was consistently over 10,000 in 2000 [Clinton’s last year].</p>
<p>How about the change in unemployment and federal deficit between 2000 and today?</p>
<p>[Dow</a> Jones Indexes](<a href=“http://www.djindexes.com/mdsidx/index.cfm?event=showavgDecades&decade=2000]Dow”>http://www.djindexes.com/mdsidx/index.cfm?event=showavgDecades&decade=2000)</p>
<p>Oldfort…it is my hope that folks do NOT become cavalier with their driving and gas consumption habits. It’s a GOOD thing that many folks learned to conserve, use public transportation, carpool, and the like. These things need to continue. If we drop back into our old spending and using ways…it’s likely that the cost of fuel will increase again. I don’t think it’s any accident that prices have gone down and along with that there has been a VERY significant reduction in the consumption of oil/gas.</p>
<p>No, but it was the biggest game for many investors and created many of the jobs that soon disappeared. It drove the boom of the 90’s and created the vast majority of sudden wealth. And loss of same.</p>
<p>On gas prices, I hope people now understand how a relatively small change in demand (or supply) can have a huge impact on prices. Hence additional US drilling could save more than some economists admit.</p>
<p>
</p>
<p>Very good point barrons.</p>
<p>barrons</p>
<p>Are you really suggesting that a relatively small increase in supply can have a “huge impact” on lowering prices? Aren’t you assuming that demand continues to drop or at least remains constant? </p>
<p>Also, where is the economic incentive to invest in increased production [additional US drilling] if the cost of that production exceeds the selling price? Are you assuming that additional US drilling will result in additional “cheap oil?” Anything to suggest that to be the case?</p>