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OldBearLady

How long do you believe the price of gas will drop, before it goes up again?

The price per gallon of gas has dropped considerably. $1.87 is the lowest I've seen so far. Still dropping.If it can get so low so quickly, why did it get so high to begin with? What is it that WE don't know?
Lovely:

I hope it drops so low that the Arabs have to give it away and we won't need it because we have become self-sufficient for all our energy needs.

OldBearLady:

That would be nice!

Blogafter5:

Good morning Karin,
I've heard it said, that there are only 2 types of businesses that can set a "World's" economy, let alone here in the States, they are insurance and oil. I also watched a news clip containing the CEO's of the major oil companies, they gist of that story was, prices will never go down, because they have their investors to think about. Investors = teachers unions etc....Now, is this something political??? It is the only explanation I can think of.

Blogafter5:

the gist. sorry, it's still early here. ;>)

OldBearLady:

If America was considered male....we're screwed.

TheYolksNotWhite:

The reason it was so high is because of two things. One was very high demand from all over the world including the U.S. The other was that investors all thought that the price could only go up so they kept buying. The same thing happened with housing prices. Everyone was so sure that they could not do anything but make money so they paid any price. Now we are seeing what stuff is really worth. The price of gas will stop going down shortly after the price of oil stops going down.

OldBearLady:

Nah....certain people in govermental positions are making decisions for us. Without our knowledge. Do we REALLY know what those deal-making conversations entail? I think not. Americans suck it up as always. We always pay for stupid decisions made by stupid politicians who care more about their future mansion than they do about the average American's well-being.

Henry:

How cares take it will it last and move on.......

K:

Simple economics: Supply and Demand. However, I did have an employee, who just the other day, equated everything that is happening to the issue in the 70's with OPEC. I wasn't born until 1978, so I am not familiar with what all went down, but, by listening to his point of view, I see how the conclusion was drawn.

Ricke124:

LOL LOL Our gas went down yesterday to $2.89 and this morning it is up to $3.18, so it just took overnight to go back up.

OldBearLady:

hm...it's down to $1.77 in CO.

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