Posted on 10/13/2014 5:41:15 PM PDT by Oliviaforever
Oil prices sank again on Monday, giving consumers more of a break and causing a split among OPEC leaders about what action should be taken, if any, to halt the slide.
The price drop has led to a near free fall in gasoline prices in the United States. On Monday, the national average price for regular gasoline was $3.20, 9 cents lower than it was a week ago and 14 cents below the price a year ago, according to the AAA motor club.
(Excerpt) Read more at nytimes.com ...
If they could just accurately and consistently predict the price of oil, they could hire Bill Gates as their pool towel boy.
Gas prices down? Must be an election coming soon.
In the long run, minor fluctuation is best, since it will only cause minor disruptions in the US oil industry. If the price stayed astronomically high for too long, and exploration was increased exponentially, the industry would be much more vulnerable to Saudi over-production and a US industry-wide crash.
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