[nynor]

Originally Posted by sammyg2

Recently created over-capacity is taking it's toll, gas is going to get real cheap real soon. A whole bunch of new production is hitting the market, coupled with reduced demand is gonna drive the price down. Probably going to result in shutting down at least several refineries.
We may even see $1.50 a gallon by mid-winter. What's that going to do to the state governments who rely on all that sales tax?

If you have any oil refining stocks, you might want to re-evaluate your holdings.

if you have major oil company stocks they may take a hit but not as bad as the independents are getting hit and will continue to get hit for the next year or so.

Could get ugly.

prices don't affect the taxes, the taxes are built into the price of the fuel at the pump and don't go down with the price of fuel. around here, they were talking about taking advantage of the reduced price of gasoline and INCREASING the already ridiculous level of the taxes, already running at somewhere in the region of .55 per gallon.