http://inflationdata.com/Inflation/images/charts/Oil/Gasoline_inflation_chart.htm
Posted on 10/17/2014 5:04:17 AM PDT by thackney
...Tesla’s stock promptly dropped 8%...
At $2.99, the price to which gasoline had fallen at some California stations last week, electric cars becoming a mass-market taste and not just an item for wealthy hobbyists recedes from probability. If Democrats especially start to find it politically no longer saleable to subsidize a toy for the rich, the company may be in real trouble.
Since World War I, the retail price of gasoline has fluctuated in a band between $2 and $4 (using 2006 dollars as a benchmark). Since the 1970s, though, politicians have repeatedly wedded themselves to policies premised on the idea that oil prices can only go up, up, up, in prelude to oil running out altogether.
In fact, Tesla illustrates a theme from a column here back in 2008, when everyone from President George Bush to Nancy Pelosi to freshman Sen. Barack Obama was in a fever to simulate a deeper understanding of our Middle East entanglements by calling for new auto gas-mileage mandates.
These mandates, we pointed out at the time, would only divert tens of billions of auto-industry investment dollars to relatively mingy and uneconomic improvements in fuel mileage that car buyers don’t highly value. The real opportunity, meanwhile, was for revolutionary safety technologies like those Tesla is now belatedly introducing, which would necessarily be delayed by Washington’s misallocation of industry resources....
That’s what’s happening now. Saudi Arabia and Iran are slashing prices in pursuit of market share in suddenly slower-growing Asian markets. Vladimir Putin , whose budget goes red at an oil price below $110 (oil hit $84.43 Tuesday in London), is being pressed by his No. 1 crony, Igor Sechin of Rosneft, for $40 billion from the Kremlin’s welfare reserve to boost the Russian oil company’s output at a time when sanctions are cutting it...
(Excerpt) Read more at online.wsj.com ...
The green push destroyed our economy.
If the price of gas drops to $2 it will have ripple effects across the economy, reflected in lower energy, food and housing costs.
That means more bang for our bucks in the coming year.
I think we will only see sustained $2 gasoline in the near future, if the economy is way deeper in the tank.
I would rather have $3 gasoline and a job to pay for it.
Didn’t the liberals tell us drilling would never work.
Well that keeps them right at the .000 batting mark.
They have yet to be correct on a single issue, large or small.
Much to the consternation of the Obungler, who wants to destroy capitalism.
The flipside of that scenario is that the Fed will crank QE up even higher to try and ward off deflation.
I confess that I’d take some morbid pleasure in seeing massive and rapid deflation. But I have alterior motives. It would be very bad for a lot of people.
Where I live, the stations were all at $2.79 yesterday. This morning they were all at $309.
But what was interesting was as I continued driving down the road, the stations that were actually higher yesterday have not changed their prices.
There seems to be more volatility in prices around here between stations. They used to be in solid lockstep.
Deflation of that sort is not attributable to a market meltdown.
The bad news is it comes too late to revive the Democrats’ flagging fortunes.
I probably just reflects when they got their last shipment.
As the wholesale price drops, they drop their price. They want to sell out of the gas in their tanks that they paid the higher price. When they get a new shipment at the lower price, they will drop it too.
Isn't it time for them to be held accountable and punished for their actions?
Everything government screws up under their direction, we [the taxpayers] end up paying for.
Like: "Whoops, we laid 20 miles of 8-lane expressway over a pipeline easement. We had to tear it up and rebuild it 50 yards to the east. Here's the bill."
And it's not like the administration's picking anybody any smarter to replace the last idiot they had to fire for incompetence. They just hired Mike Taylor, former Monsanto VP to be Deputy Commissioner of the FDA. Help me out here, is that nepotism or cronyism? And we, the people are made to suffer for it. Dolt after idiot after clueless moron installed in positions of power for nothing more important than political favoritism. Perhaps these positions should be subject to public review. Yes, I know, wishful thinking. And has anyone heard a peep from Boris Lushniak?
> Since World War I, the retail price of gasoline has fluctuated in a band between $2 and $4 (using 2006 dollars as a benchmark).
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