Gas Update
$1.57
Is it egocentric for me to think that the Rio Grande Valley has the cheapest gas in the United States? I went to New Jersey some two summers and the prices there and here are comparable. I'm worried though about gas prices when I bet most people are excited and happy. There is a mark around $50 that is the cost of producing 1 barrel of oil. Right now, the price of a barrel of oil is hovering below $50. So, here's a question? What happens if the market price falls below the production cost and stay there for some time. It can't be good. If oil production is slowed, the rebound when the economy comes out of the recession, I predict, will be excrutiatingly slow. Coupled with possible new taxes and energy regulation, I see a bleak outlook.
You know what I can't wait for? The day after Thanksgiving. We'll have a barometer on how badly the recession has affected consumer spending. I'm so excited and giddy for the day. Almost as much as I was for election day.
I learned something a few hours ago from my sister. It turns out I got my mom scared over falling gas prices when I told her it was an indicator of a global recession. I have to talk to her.
Is it egocentric for me to think that the Rio Grande Valley has the cheapest gas in the United States? I went to New Jersey some two summers and the prices there and here are comparable. I'm worried though about gas prices when I bet most people are excited and happy. There is a mark around $50 that is the cost of producing 1 barrel of oil. Right now, the price of a barrel of oil is hovering below $50. So, here's a question? What happens if the market price falls below the production cost and stay there for some time. It can't be good. If oil production is slowed, the rebound when the economy comes out of the recession, I predict, will be excrutiatingly slow. Coupled with possible new taxes and energy regulation, I see a bleak outlook.
You know what I can't wait for? The day after Thanksgiving. We'll have a barometer on how badly the recession has affected consumer spending. I'm so excited and giddy for the day. Almost as much as I was for election day.
I learned something a few hours ago from my sister. It turns out I got my mom scared over falling gas prices when I told her it was an indicator of a global recession. I have to talk to her.