Patrolling Petroleum

The+price+of+oil+is+plummeting%2C+the+rigs+are+going+silent+and+the+immediate+future+doesn%27t+look+good+for+some.+In+Big+Lake+in+the+Permian+Basin+there+is+still+some+activity+on+Dec.+15%2C+2015.+%28Used+with+limited+license%3A+Joyce+Marshall%2FFort+Worth+Star-Telegram%29

The price of oil is plummeting, the rigs are going silent and the immediate future doesn’t look good for some. In Big Lake in the Permian Basin there is still some activity on Dec. 15, 2015. (Used with limited license: Joyce Marshall/Fort Worth Star-Telegram)

Olivia Oster

Right now we are seeing gas prices at their lowest in over a decade. Students are enjoying saving their hard earned money on gas to spend on other wants.

“I love when gas prices are low because I can use the extra money I normally spend on gas on other things like food and clothes,” Madelyn Long (11) said.

Now that gas prices have reached $1.35 per gallon, kids are willing to drive more.

“I think [low gas prices] makes me feel less guilty about going out a lot and I’m more willing to travel long distances,” Keith Crawford (11) said.

Most people are excited about the drop in prices, but they are unaware why it happened, while others stay informed about outside influences and their effect.   

“Gas prices are low because the demand for oil is not as high as it was before. Also, because of the sanctions released from Iran, we are getting more oil into the market and Saudi Arabia will not decrease its production, resulting in lower oil. If this stays, the value of oil will decrease and it will be really hard to get it back up to its normal value,” Mohammad Hijaz (11) said.