Then again, oil is going back to $50 eventually and so long as we don’t mind funding middle east terrorists, I am sure the US people will be A-OK with a return to $2.45/gallon gas. As far as I’m concerned, that’s OK with me, just so long as energy stays relatively cheap.
But when oil comes back to $50/gallon, watch how fast everybody jumps off the alternative energy bandwagon and conveniently forgets all about our “dependence” on foreign oil. SUVs will be selling in short order.
Still, now might be a REALLY good time to start building some refineries that can refine high-sulfer crude. Domestic oil or not, we are going to need those.
Proof too fast... Meant $50/bbl, obviously.
The interesting thing I’ve seen here in Ohio is that as the price per barrel has continued to drop, the actual price at the pump has crept back up about 8 cents a gallon. Might be strictly anecdotal, but I get the feeling the retailers don’t want us to get back under $3.50 a gallon.