Bad news for the world’s thugocracies.
Good news for American consumers who can look forward to cheap and plentiful fuel, food and housing. And even being able to eat out and take vacations.
What’s not to love?
Gasoline prices going down - credit the great Obama.
Obammy should place a tariff on all oil imports from countries that a) do not have a democratic government and or b) practice Sharia Law and or c) have more than 25% of their population that wants to practice Sharia Law.
Do you think we’re in for several years of $80 (or lower) oil? If so, could some highly-leveraged oil services firms go bust?
To do a number on oil sands, oil would have to drop to $50 per barrel. I wonder if OPEC member budgets can take this kind of pain.
Yesterday, the stations I drive by every day to work in one area were all at $2.79, regardless of brand.
This morning, every single one of them was at $3.09.
Did something happen? Was there a refinery fire?
The good news is the price of oil is dropping.
Price at the pump going way down.
The bad news is, State, local, Federal governments likely to increase taxes to make up the difference.
Government has been pushing fuel efficient cars. Fuel usage down, tax collected down. Government answer?
Pat on the consumer’s back? No.
Tax per/mile driven to get revenue back up.
One way or the other we are going to pay.