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The decrease in oil prices and as a result our decrease in oil imports and increases in our oil exports is making our $ stronger each day. This week, I filled the gas tank on my pickup for $2.85 per gallon. A month ago it was $3.30/gallon, and we thought that was a good price. Every gas tank fill up by an American means more disposable means they get to keep more money in their pocket.

Lower fuel prices can mean lower food prices. We bought our monthly 4 pack of boneless rib eyes at $6.99/ pound this week versus $9.99 last month.

One of the best kept secrets with the crisis in Iraq/Syria/? and other oil producing countries, is how the price of gasoline and oil in America keeps coming down.

Increased U.S. production is helping to create an oil surplus on world markets, driving down prices despite a myriad of threats to oil supplies, and doing more to crush Russia’s economy than the sanctions imposed by the U.S. and European Union, said Chris Faulkner, chief executive of Breitling Energy.

http://www.washingtontimes.com/news/2014/sep/8/us-oil-surplus-eases-prices-in-global-crises/?page=all

This is also preventing the Opecker Princes from doubling their price on oil to again cause another major economic recession around the world.

The price of oil on the open market is kicking the Opecker Princes, Putin and the thugs in charge of Venezuela really hard below their economic belts.

Lower fuel prices can mean lower food prices.

One would think. But GOVERNMENT always finds a way to even out costs with what it thinks they SHOULD be. TAXES....taxes imputed at incentives, punishment and equalization. Any gains from this will be short-lived, IMO. GOVERNMENT has to finance its voter-base largess and they will not stop at just that.

I sat and watched the CNBC chatter this morning over oil prices. There’s not much doubt that it will go to $69 with “days” (meaning probably between now and the end of the month).

Several factors start to kick in which will hype the business world. Airfares? You could expect a ten-percent drop in ticket prices if we get to that point. Cheaper shipping costs for Walmart and Piggly Wiggly? Absolutely. School bus operations getting a dividend back with cheaper fuel? Yes.

But it also has this effect. The oil sands episode in Canada? It only is lucrative while the barrel price was above $100. At $69 or below....they might as well shut down operations. The US fracking episode? Going full-power and we are importing only thirty percent or less of the fuel needed. No possibility for the next decade that it’ll change.

Europe has been waiting a decade for the dollar to rise back up and make their products cost-effective enough to sell in the US. The magic formula has finally started to occur and some folks here are hoping for more of a rise.

you realize oil prices have fallen as the US demand has dropped. the overall global economy is down over the last 5 years (thx 0bama). with the falling demand comes a glut.

there’s also pressure to keep oil in the $70-100 range, regardless of the strength of the dollar.

I think what we are looking at here is literally an emergence of "Black Gold," whose abundance could have long ago been used as a proxy commodity offset for "Gold, Gold" for an imputed backing of the greenback.

I see Europe looking to build closer ties to the US with reliable supply from the US, as energy trade deficit reverses itself and Putin's intentions become more belligerent. Oil is traded in $. I see this as being another reason that the euro will be at parity with the $- or even below in the long run.

Enviros blocked off-shore drilling, and ANWR, all in the name of preventing undocument-able AGW, yet US intuition and technology has made us awash in oil from fracking in ways the larger US gov't couldn't stop, becse it wasn;t on gov't leased land. The XL pipeline will pass and open up the oil-tar sands of Canada which will be more accessible now that (R)s are in Senate control, and (D)'s look to roll over and vote with (R)'s against a substantially weakened Obama -- and will finally be able to do so all in the name of jobs - now unobstructed by Harry Reid.

$18T in deficit will begin to shrink as the US grows out of the deficit - I see jobs will be coming back to the US from overseas at a greater pace than has already started, along with repatriation of $2T help by investors overseas now. What is needed to cement this prediction will be all branches back in (R) hands come 2016.

Let us select wise an moral leaders to usher in Reagan-esque Recovery II which dramatically changes tax policy.

FReegards!