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Gas prices have gone up 50 cents just the last week. I like lower prices.
Not much use to anyone, but right.
What is the status of the strategic oil reserve? Is it at capacity? Can we expand it’s capacity? Do any in the freeper community have insight to the question?
If the current financial system wasn't built on extraordinary levels of malinvestment based on years of artificially low interest rates, then the simple action of supply and demand wouldn't threaten anyone.
However it is, and it does.
This can't be helped. In a world full of bubbles there is always a pin.
This time the pin might be reality coming to the oil market. Or reality coming to house-prices. Or mass-realization that the Fed are never, ever, ever going to meaningfully raise interest rates. Or < add your own pin here >.
But there's always a pin. And all it does is tell the truth.
No econ here, but doesn’t cheaper anything make it difficult for the Keynesians?
Nasty uncontrolled supply and demand....
KYPD
This is really bad news for the economy, because the price of oil is already at a catastrophically low level for the global financial system.
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Low energy prices are always good for the American economy. For economies that depend more on selling commodities, it’s not so good.
I am sorry, I do not see this as a problem for the greater economy. Cheap energy usually spurs increased economic activity and greater savings for customers.
What has happened over the last six year is that the average consumer has been hit with a silent tax on everything they buy, not just auto fuel, but all products to compensate for the ridiculous high price of gas. We have all gotten a big tax break.
Nonsense! When the cost of energy goes down so does the cost of everything else, including the cost of living. This leads to an increase in creation/distribution of wealth and paying down of personal debt releasing money for more creation/distribution of wealth.
Plentiful low cost energy is always a good thing. And the only reason we haven't had it for decades is "government". Our recent increase in oil supply and its reduction in price is due entirely to the private sector while our government, especially federal, scrambled to kill it.
So thank the private sector for lower prices at the pump and home heating. Thank the private sector for more money staying in your pocket to purchase groceries. And damn the government and its worrywarts for trying to take it all away from you!
Woe is me.