Yikes: $2.85 a gallon

[businezguy]

For those who continue to have an interest in looking at oil prices, perhaps the best sign of whether they will go down further will be to look at the unemployment rate. If that continues to go up, expect oil prices to decline further. It's quite possible, if the economy tanks enough, we might have lower prices in the summer then we do now. At this point that is certainly a possibility. As you can see, the stock market isn't doing so great, and oil is down from above $100 to barely $90. For this to continue there would need to really be a negative decline in employment, so we'll see.

Please keep in mind, I'm certainly not rooting for this to happen, but unfortunately I'm of the belief that a recession is a neccessary market force that is needed to drive down the price of energy, bring housing to a more affordable level, and stop very irresponsible spending, and assumption of too much debt by today's American people, a group used to immediate and instant gratification. While this cycle will be painful, should be be managed well and this nation make many of the right decisions and draw the right conclusions, it will be good for this nation.

Let's see what happens. Currently things are certainly moving in the direction I've felt they well, though at a faster pace then I could have expected.

[businezguy]

Originally Posted by NewAgeRedneck

memoriesbre wrote:

I filled up the truck only half full yesterday and it was $3.18 a gallon. I am so sick of this. Something needs to be done somehow. How can we afford this? We need to revolt!

I agree. $3.19/gal is expensive. The most powerful revolution is to find ways of consuming less and living a simpler life. Make up your mind to consume less. Drop out of the consumer game, though it's tough to do in regard to heating oil.

blessings....franco

By the way, I'm essentially saying the same thing NewAgeRedneck is, just simply arguing that market forces will force consumers to do what NewAgeRedneck wants to happen. In some respects, this is quite comforting. Let's just hope Americans don't try to allow the government to increase its roll in the economy further to compensate for a recession. Market forces will do more to better the lives of Americans in the long run, and save them from irresponsible actions then could the government ever do.

[businezguy]

Here is an update on oil prices for those interested. So far for the year oil is down over $10:

Oil sheds $1.63 a barrel - Jan. 21, 2008 (broken link)

With the summer coming, don't expect this simply to continue, but expect after the summer this pricing for gas will not come back for quite awhile.

[vozzyy]

Keep crying....ran 4 ac units with that much fuel or power...ummm Im a licenced electrician in upstate ny....news kiddo..doenst cost that must..try again

[mathjak107]

Originally Posted by businezguy

Here is an update on oil prices for those interested. So far for the year oil is down over $10:

Oil sheds $1.63 a barrel - Jan. 21, 2008 (broken link)

With the summer coming, don't expect this simply to continue, but expect after the summer this pricing for gas will not come back for quite awhile.

problem is the new lows will probley still be in the 100 dollar range, better than 150 but even that will be short lived. once the hint of recovery starts to show voooooom again back to 150-200