#439308 - 10/09/0811:34 AMRe: Falling like a rock
[Re: RX 4 Fun]
Hockey Family
Admiral
Registered: 10/23/05
Posts: 2643
Loc: OC - SoCal
There were programs going around a while back to buy gas at a set price. Buy a couple hundered dollars worth of gas at $XX/gal and you're safe from rising prices.
Wonder if many are now taking a hit by doing this?
I bet we see major production cuts in oil in the vary near future. I actually, too a degree, hope oil stays around $100 a barrel for a while. High enough to keep excessive demand run ups, high enough to make alternatives profitable, low enough to not break the bank!
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Live your life in the Kelvin scale..........Stay Positive.
#439314 - 10/09/0812:23 PMRe: Falling like a rock
[Re: D-Rod]
Bowline
What's higher than
Admiral
Registered: 01/14/03
Posts: 4288
Loc: Kansas City, MO
If people keep cutting back on what they're spending, like we all are, the economy will tip into a depression. I don't care what the current administration says, we're in a recession and have been for some time. It's just worse now with the major banks failing.
Gas prices will continue to fall as well if people keep witholding cash from the marketplace for traveling, goods, and services. As I see it the world economy is teetering. Even if oil production is cut I still see the drop in overall spending continuing to have an downward effect on oil prices. You can only artificially keep prices higher when the demand continues to be maintained.