It’s Hard To Be Right All The Time

Gas here has dropped to under $2/gallon.

I said this was going to happen. Nobody believed me.

This guy claims the high cost of oil is what caused the economic, eh, glitches we’re having right at the moment.

True or not, it is true that oil prices going up suppresses the economy. The suppressed economy reduces demand for oil. The economy is fragile enough that something like this can (and often does) result in enough economic contraction that the countries that jacked up the price in the first place end up getting a lot less per barrel than a slow increase would have.

Oil: Delicious and ironic. Or is it karmic?

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