Monday, January 18, 2016

Oil Market a Reminder of How the Unexpected Can Happen

     Oil prices continue to slide, down to $28  a barrel. Who would have thought a few years ago when we were told gas would climb to over $5 a gallon and fossil fuel would become passe.  Now, buying a super-sized pickup truck or a Challenger with 700HP is just a matter of picking the color.
      The stock market is wobbly over the collapse but who doesn't like $2 gas ?
http://www.bbc.com/news/business-35340893

7 comments:

Anonymous said...

See what good that "quantitative easing" and low interest rates were doing? Now that the banks don't get interest free money to drive up the price of commodities and stocks, the pricing of the markets has one less giant finger on the scale.

Anonymous said...

Who doesn't like $2 gas? When a Dem is our President, that's who. Then again, what could we really expect from the Reptards? :) LOL

Anonymous said...

I don't. It was $1,80 something before OBozo took office and everybody was screaming about how Bush and his oil buddy's were raping the American public at that price.

Anonymous said...

905. It did drop sharply in 2001 just after the attacks on the towers.. Reason being to planes flying for days. By the way idiot whos in office now...???

Anonymous said...

Let it free fall ,the oil bastards milked us dry in the past .

Anonymous said...

Perfect timing 905. You're just like one of Pavlov's dogs... :D

Now please, educate us all on why it has nothing to do with 'Obozo' or the nuke deal with Iran.

It's all cuz of da frackin dammit! LOL :D

Anonymous said...

As a consumer I welcome lower gasoline and heating oil prices but it does cause me concern for the longer run. First, there is government who likely will say that it's collecting as much tax because as the price goes down sales tax collection drops. To make that so-called loss up there will be cries to raise the tax. The downside, when the price goes back up, the tax rate won't come down. But more critically, by essentially killing off much of domestic production, we're increasing our exposure to foreign events and likely much higher prices in the long run. Gone is the much needed goal calling for energy independence.