Will I get a chance to see gas again as cheap as it was when I was a young’un? 19cents/gal...
I just turned 18 and was in college when it jumped from the mid 30 cent range to 50 cents! I didn’t have a clue as to how I was going to afford that...
In the midwest, the “excuse du jour” for charging $3.00 a gallon is that an oil refinery in Indiana is down for repairs.
CC
Imma quit my engineering job and go to work at a Seattle Hardee’s for 1/bbl per hour.
If this is true the economy is going to collapse worse than 2008 and it will happen very shortly.
Oil could fall to $15. And monkeys could fly out of Hillary’s butt. Anything could happen! Gold could even go back up over $1200.
Expect more refinery problems to crop up. BP is screwing us here in the Midwest.
?
War is coming soon.
But hey! What part of "Death to America" is causing the confusion people?
Oil might go lower and even stay that way, until many more indebted producers are through. As for the “increase in consumer spending,” I doubt that it will go on for long or amount to much.
Gas is a little over $3, give or take, on the CO Rockies. Summer traffic was way up compared to the last six years or so. Dope tourism, perhaps?
And those states will run it up to $4 a gallon to keep tax money flowing.
Let me know when cheap oil means cheap gas and not that the sky is falling (for greedy investors) because it isn't $100+
If the President were Republican, the Democrats would have a Special Prosecutor and Headlines over the price gouging. They could pretty well write their own ticket next year after nationalizing the oil industry for collusion.
Unless the GOP wants to play politics, they might want to get out of the game.
Even with cheap oil, we have not seen increased economic activity that is supposed to come with more discretionary income and consumer spending.
This is certainly another sign of depressed economic conditions and deflation.
If oil goes that low, the frackers won’t have a chance and this could be the catalyst for a US market collapse and monetary destruction. And the expected Fed response will be massive money printing.