Oil price dilemma!.

[Bill Bess]

A lot of the folks that saved their money and purchased a motorhome won't be buying all this cheap gas beacuse they can't afford to travel while their un employment.
Some are living in their RV's, others had them reposessed, or are attemptuing to sell all their toys just to survive.
On the other hand perhaps we will see some lowering of prices on goods and services as the fuel costs stay low.......HA..HA!

Don't hold your breath waiting for all those countries to pay us back for anything..they just want more.

Bill

[bomelia]

Are you pleased with this turn of events? Because it sounds like you are unless I am misreading your intent.

Mike

Originally Posted by Bill Bess

A lot of the folks that saved their money and purchased a motorhome won't be buying all this cheap gas beacuse they can't afford to travel while their un employment.
Some are living in their RV's, others had them reposessed, or are attemptuing to sell all their toys just to survive.
On the other hand perhaps we will see some lowering of prices on goods and services as the fuel costs stay low.......HA..HA!

Don't hold your breath waiting for all those countries to pay us back for anything..they just want more.

Bill

[Wayne Maybury]

I attended a conference last March and in one presentation, it was stated that some economists were estimating that speculation accounted for up to $50 per barrel. At that time oil was in the $90 range. By July oil had climbed to a peak of $147 and the US economy was beginning to show signs of a serious down turn. The price of oil began to slide so if speculators were indeed responsible for a good chunk of the cost, they would have started to get out as there was little chance that oil was going to climb any higher.

By mid 2008, the high price of energy was also starting to have a negative effect on the economies of China, India, etc. Demand began to slide so the price began to follow it downward as per Economics 101.

My own estimate 6 months ago was that oil would fall to about $75 per barrel.

Wayne

[Dominik]

Maybe I was reading too much into John Perkins' "Confessions of an Economic Hitman"...

Dom