I bet she does:
Posted on 10/30/2014 4:47:37 AM PDT by thackney
Gas prices are falling below $3 a gallon across the United States for two big reasons: (1) the world economy is growing slower than we hoped, and (2) global oil production is improving faster than we expected.
"India and China are slowing down,” said Charles K. Ebinger, director of the Energy Security Initiative at Brookings. "The IMF just downgraded Europe’s growth to less than 1 percent, and they're already quite energy efficient. Brazil’s a problem, too. All around the world there is no great growth story, and expectations are that things will stay that way or get worse."
There is also unanticipated supply. A few years ago, political turmoil was taking up to 2 million barrels a day off the market. Now production is roaring back in Libya, southern Sudan, Yemen, Nigeria, and even Iraq, and the global price of crude has fallen about 25 percent in the last five months. It's the same old story: low demand, high supply, etc.
Andrew John Hall, the alleged "God" of oil trading, is predicting $150 barrels within the next five years. But the deeper you dig, the more reasons you find to be down on the price of oil in the near future. "Japan’s announcement that they’re starting two reactors means that there will be less oil import for Japan,” Ebinger said. Second, there are industrial shifts that are reducing oil’s share in the energy market. For example, many U.S. companies are using natural gas rather than petroleum products to power their refineries. Third, hedge funds...
(Excerpt) Read more at theatlantic.com ...
Our knowledge bases complement each other—my job is all about what is happening in the ground. Even when I’m at work, I’m two miles or more away...
Just an observation, but the price seems to drop in election years and predictions have a way of becoming self-fulfilling prophesy until market factors reassert themselves (6 mos to a year).
Heck those are not even predictions, just guess at what each place can afford.
Google it
That's why I bought stocks that are plays on oil. I bought about a month early...damn...lol.
A normal winter will help considerably.
I bet she does:
For the eastern half of the US it is going to be a brutal winter. Don’t know if that’ll help you any.
Take a look at what Joe Bastardi says about the winter.
http://www.weatherbell.com/saturday-summary-november-1-2014
hang on, I have the SS on the line...I will ask...
Google the phrase “we will never see $3 gas again”... there are MANY exact matches, and soooo many are from 2008.
Gold and silver continue to drop!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.