Don’t worry. Democrats hate low gas prices and will do all they can to raise them with new taxes. Then, when prices go up, they’ll blame them on Republicans.
Krugman can KMA. I’m filling my tank at $1.60 a gallon today.
Who cares if Saudi Arabia has to undergo painful austerity. Maybe a few less bombings and mosques will be funded.
Hey Paul, just remember that Americans will buy a $hitload of high dollar, high margin SUVs when gas prices go down like this.
In the United States, businesses engaged in oil and gas extraction and refining spent almost $200 billion on new equipment and structures in 2013, the most recent year for which data are available....
Oil and gas projects around the world worth $380 billion have been postponed or canceled since 2014 according to Wood Mackenzie, an energy consultancy.
http://www.freerepublic.com/focus/news/3385504/posts
Lots of dollars no longer creating orders and jobs at all the pipe, valve, pump, motor, cable, controller, structural steel, etc, companies. It is not just hurting those direct in oil and gas.
Well, Dollar is from $1.64 to $1.41 against pound sterling.
Oil is doing real damage.
Maybe a floating tariff that kicks in when oil drops below $40.00 per bbl. Keeping oil at $40.00 per bbl would stabilize everything and put a floor on oil.
It's only a matter of time before our "capitalist" country gives that sector (more of) a bailout courtesy of Uncle Sugar.
The cost of a commodity fluctuated when supply went up and costs of production went down. No one could have seen this coming. No one.
I like $1.50 gallon gas
20 dollar oil is neither good nor bad for the Economy. it is a symptom of the economy. Doing anything outside the market to force up theprice of oil or to force it down will be negative for the economy and for consumers in al time frames.
Drink your poison.
Well, we tried to tell people.
I agree this is exactly what the Dummycrats do not like to see.
I love liberal spin on oil prices. When oil was $100+ liberals were saying how great it was because it shows how great the Obamaconomy has become. Oil is low, it’s because Obama is so brilliant with his oil policy. Now... How do they spin the fact that the smoke and mirrors of the obamaconomy isn’t working anymore and commodities are crashing because the economy is in the toilet...
FUNEMPLOYMENT!!!
$20 oil starts wars.
There is such a thing as too low, I guess — when hundreds of thousands of jobs depend on it. Dump the requirement for ethanol in gasoline, and the oil companies can increase their sales by 10%
It works for me.
I spend less on gas and the cost of transporting goods drops, so they are cheaper as well.
That means more money for me to save and spend, if I wish.
My dollar goes further and I am more inclined to make purchases I can now afford.
My gosh, I have been saying this for over a year now.
Anyone wonder how we ever had an economy when Gas was under 1 dollar a gallon and you could heat your home on fuel oil for $400.00 a year in a cold climate? Not all that long ago either.