“I hope it comes down under $100 again....I for one, will not be happy unless it’s under $3.00 gal. again.”
Laws of international finance will not allow it to stick at $100/barrel for long unless we quit importing. I would rather have $4 gallon and a robust economy than $3 and we are transferring trillions overseas. My concern is not just Arabs, but even sending all this money to Canada is terrible for our economy. The economy can thrive under $4 or even $5 gasoline as long as we do not sink the dollar this way. In fact $3 could actually incent inflation.
Strongly recommend Dr Sowell for a more learned and detailed explanation.
$3 gallon gasoline as a result of a slowing economy is junk food.
I hope the crude prices stay up long enough to change the American citizen’s mind and our laws on domestic drilling. If the price drops before this is resolved, we will continue to face these same problems.