Oil about to drop below $100/barrel

     I had a discussion the other day with a friend who said that he heard from some expert that oil would go to $200 a barrel. I totally disagreed so I asked “Who is going to have the money to pay for it at that price?” He replied “Good point.” My favorite site for checking the current price is NYMEX.com.


Comments

  1. Wow. Reducing consumption works.

  2. Actually, Klute it doesn’t.

    Even though crude oil prices are going down, wholesale prices for gasoline products and heating oil are up about a nickel – and are expected to climb even higher on anticipation of refinery disruptions from Hurricane Sarah, uh, I mean Hurricane Ike.

  3. Who thought anyone would buy coffee for $4.00 a cup? Starbucks found lots of people.

  4. Antifederalist says

    Untersturmfuhrer Klute,
    If consumption has been reduced, it’s because economic factors gave individuals, acting in their own self-interst, incentives to do things like trade in their SUVs for more fuel-efficient vehicles, or resort to car-pooling. We don’t need your fascist government to dictate a darned thing to us. I can’t point to a single thing that your buddy, socialistic government, has done to reduce consumption of fuel. In fact, I see leftists standing in the way of most solutions to our problems (the Kennedys hate offshore windmills and the eco-Nazi whine about dead birds, nuke power, hydro-electric dams, off-shore drilling, ANWR, etc.) The free market has done more to resolve our difficulties that your vaunted Big Brother ever will. The best answer will almost ALWAYS be to get government the flock out of the picture.

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