Oil prices on wane, but stay vigilant
Surely no one thought it would last for long. Gas prices in the $1.40s? Come on, this is the land of opportunity, where the law of supply and demand rules.
OPEC knows that law better than anyone. So, with people ready to break out gas guzzling SUVs and crank up the heat a bit more for the holidays, OPEC is meeting this week to decide if they should cut production, which they hope would cause a spike in oil prices.
Yikes. Better fill up now while you still can. For a while oil and gasoline users stuck it to the man, with reduced demand. Plus with the recession acting out, folks are less inclined to drive around town as much.
With a barrel of oil down to around $44, which is about $100 less than it was in July, OPEC will meet Wednesday to discuss ways to stem the drop in prices.
While it is not a done deal oil prices will rise after this meeting, since OPEC has vowed to cut production quite a bit over the past few months and prices continued to decline. But that is because citizens of the world have gotten smart and started going green or looking for alternative fuel sources or just plain cutting down on their fuel consumption.
No one is against making profits, but the oil company numbers have been just obscene. It is now time to bring that entire situation back down to Earth and get people back out on the road again. But this time we all have to be smart about what we are driving and how we are driving. In addition, we have to continue to fight for alternative fuel sources. Just because fuel prices are lower now, we all know OPEC will do its best to see prices rise.
Talk to me.
OPEC knows that law better than anyone. So, with people ready to break out gas guzzling SUVs and crank up the heat a bit more for the holidays, OPEC is meeting this week to decide if they should cut production, which they hope would cause a spike in oil prices.
Yikes. Better fill up now while you still can. For a while oil and gasoline users stuck it to the man, with reduced demand. Plus with the recession acting out, folks are less inclined to drive around town as much.
With a barrel of oil down to around $44, which is about $100 less than it was in July, OPEC will meet Wednesday to discuss ways to stem the drop in prices.
While it is not a done deal oil prices will rise after this meeting, since OPEC has vowed to cut production quite a bit over the past few months and prices continued to decline. But that is because citizens of the world have gotten smart and started going green or looking for alternative fuel sources or just plain cutting down on their fuel consumption.
No one is against making profits, but the oil company numbers have been just obscene. It is now time to bring that entire situation back down to Earth and get people back out on the road again. But this time we all have to be smart about what we are driving and how we are driving. In addition, we have to continue to fight for alternative fuel sources. Just because fuel prices are lower now, we all know OPEC will do its best to see prices rise.
Talk to me.
posted by ISA at 5:24 PM
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