Quote:
Originally Posted by JoeRedskin
I appreciate the drop in gas prices as much as the next guy (I hope all the speculators are eating raman noodles and sleeping in boxes). BUT - I suggest this price reduction is a short term thing that will end when the recovery begins. The same real stresses on oil prices will return. In addition, the remedies being used by the Fed and the US Gov. are inflationary. Eventually, all this money being pumped into the system will drive the actual value of money down and prices up. Right now, with no money in the system (b/c of the lack credit and the loss of real wages), gas prices are falling from both the lower global demand and the depression of prices in general. This will change.
Will they hit 4.00 again soon? I doubt it in 2009 but my guess is that in 2010, with the recovery gianing strength prices will again top 3.00
Now is the time to invest the oil savings in the infrastructure of alternative tech.
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Don't get me started Bro!
12-13-2008, 09:19 AM
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