Cheap Gas

Be careful what you wish for. Cheap oil will not produce a strong economy.

Why isn't anyone blaming our current administration on these terrible times of 5% unemployment and dirt cheap gas?

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In March 2012, on the floor of the United States Senate, Mike Lee (R-UT) predicted that if Obama was reelected gas would cost $5.45 per gallon by the start 2015.

In September 2012, Mitt Romney predicted that if Obama is reelected "you're going to see chronic high unemployment continue four years or longer."

Charles Bilderman, the author of the "Intelligent Investing" column at Forbes, wrote that the "market selloff after Obama's re-election [was] no accident," predicting "stocks are dropping with no bottom in sight." Bilderman said that the policies the Obama administration would pursue in his second term would "crash stocks." The Dow Jones Industrial Average currently stands at 17,823 and is up over 35% since Obama was reelected.

Rush Limbaugh predicted that "the country's economy is going to collapse if Obama is re-elected."

all those part time McDonald's jobs are a complete disaster but go ahead and do your victory dance as the participation rate is in the stratosphere

So, you'd rather have $6.00/gas and 10% unemployment?

Because that's exactly what you will have (or worse) if Trump wins.

Hey, don't hide, if your going to call some an idiot, do it to their face....

Cheap gas has nothing to do with the administration, it was the independent oil producers that did it, despite of this administration

The economists and politicians have absolutely no idea about any cause and effect of anything.
they all spout their predictions and then justify why they were wrong 6 months later.
Bunch of snake oil salesment the lot of 'em.
With Iran coming back into the fold, it could even get cheaper.

Maybe it's a plot to devalue ISIS's oil ... who knows who cares?
You can bet the price to the end user won't reflect the full savings, so someone will still be making money.

Del

As you well know the cost of gasoline/petrol/diesel to the consumer in UK and Europe is mainly tax, so the lowering of crude price makes little difference. The madwoman Merkel has plans to make UK pay even more tax on fuel to help pay for her self-inflicted "refugee" problem. As they say "you couldn't make it up."

Then these politicians offer to fix the mess they created.

It costs about $10 to extract a barrel of oil in Saudi Arabia, Kuwait, and Iraq, meaning that their profit is only 180 percent rather than 900 percent when oil was $100 a barrel.

http://money.cnn.com/2015/11/24/news/oil-prices-production-costs/

It's only selling at that rate to force other producers whose costs are higher out of the market and gain back the monopoly.

It wouldn't be too much longer, before this economy takes a dump.

I pity the next administration that will have to deal with this mess. But it may not be so bad. A realignment so to speak.

Yes, and we can all look back on the trillions of dollars left over from the Clinton Administration that was squandered by Cheney and his hand-puppet, Bush with pride?

And now, the rest of the story,

Trillions that was reaped by Clinton Administions from the military cuts from Reagan military build up to make it not only 'not a joke' (from the carter administration), but an actually military force.?

You'd better get kram to do some research for you on that.

Since you rather enjoy cherry picking to support you platform and then have others tell the rest of the story... this is a good start that should help enlighten yourself.

And if words are too much for you,.... there's a picture (graph) in this one

kram?,.... you really miss the li'l fella don't you.

You proved my point eloquently. A sensible defense budget that retained superior military power.

Controlled spending and savings passed on to the future.

Then tweedle dumb and tweedle dumber picked an unjustifed, UNFUNDED fight without justification.

No I don't miss Mark and we're going to get slapped down for our comments.

Again, instead of supporting your post after the rest of the story is revealed from your early post that I addressed .

"Yes, and we can all look back on the trillions of dollars left over from the Clinton Administration that was squandered by Cheney and his hand-puppet, Bush with pride?"

you go for distraction. true or not, still a distraction.

and

Then tweedle dumb and tweedle dumber picked an unjustified,

if you look at the chart, Bush 1 started the trend in defense cuts. As far as Clinton, he worked with congress, which happened to be GOP and it worked...

truth mix with cherry picking has no real value, does it .......

Now look, you gave me a headache...

Even more for the rest of the story...

Those liars and their minions have got to stop figuring.

Such is life in finance and politics.

Once remarked long ago: "It has been wittily remarked that there are three kinds of falsehood: the first is a 'fib,' the second is a downright lie, and the third and most aggravated is statistics. It is on statistics and on the absence of statistics that the advocate of a particular position relies".

We all believe what we believe. Right or wrong, true or false.

You will continue to believe what you do, and so will I.

I respect your right to be righteously wrong.

Ahh, I almost gave you a good answer,.... Until I read the last sentence.

Hey, what can I say?

All else aside, oil at $27/barrel is not a good sign for anybody.

What I see (or predict) is the politicians will look at the lower gas prices as an invitation to increase the fuel tax, to offset discretionary government spending.

Marketplace on NPR had a story yesterday about Brent crude: the barrel costs more than the oil it stores. This is an interesting program if you have the time to listen to it.

The price of a 15.5 gallon barrel of PBR at $99.00 bbl puts it nicely in perspective for me. I'd almost rather drink the oil.

It would seem that now would be a good time replenish (or completely fill) our strategic oil reserves, but the current administration is planning to sell 58 million barrels of oil whose adjusted cost is $75.00/bbl to "raise cash"?

Let's see, sell $75dollar oil at $29 dollars to RAISE cash?

Maybe they've already been drinking the oil?

finished @ $26.76 for the day.......brutal

And gasoline around my place is still almost three bucks per gallon.

I don't know what everybody is squawking about....lower priced oil is good for the consumer....the price of oil is reflected in everything we buy and use, from the cost to produce, the cost to manufacture, the cost to deliver, virtually every aspect of handling packaging everything....and as oil goes down it has an accumulative effect....that money saved goes into other things like rent and groceries and clothes new goods and services that improve the quality of life...the only people seeing a contraction in revenue is the oil and oil services sectors....who in case anybody has forgotten are coming off multiple years of record earnings...the sell off in the stock market is people moving money out of these sectors into cash and other sectors, it's not going anywhere...it's like everybody's getting a raise, because your money goes further...it's a price war, the consumer wins! Now hit the road in that big V-8 and take the family to Disneyworld, no snow down here....

Typical of this site and it inmates. You have cheaper fuel and yet, you complain. Go out and use it and don't feel guilty about using it up.........Ooops, oh I forgot, you need to be guilty of warming the world by 1.63F, so by using cheaper fuel you create unnecessary heat and global warming and pollution and price hikes and poor economies and....boy that can go on.

Stop moaning all of you and enjoy the life. We have lived long enough with the BS of saving fuel, saving whales, saving water, saving the world from itself, saving Pvt Ryan, saving refugees.......the list goes on.

Enjoy the cheaper fuel price, that is exactly what they want you to do........!

Complaining is what we're good at....

Seriously, its more complicated then that, we realize more then most the 'cause and effect' this will have.

http://money.cnn.com/2016/01/18/investing/gas-prices-46-cents-michigan/

Gas wars in MI resulted $0.46/gallon for gas, that was this week.