Posted by John in La on November 21, 2014 at 17:49:44 from (96.33.136.54):
In Reply to: diesel price WOW posted by Steve in VA on November 21, 2014 at 15:01:08:
Woo Hoo Oil prices are down causing gasoline and diesel prices to drop to prices we have not seen in a while.
But have any of you sat down and thought about... Why oil prices have dropped from over $100 to $75 a barrel in three months. What these low oil prices will do to our economy.
Domestic production has pi$$ed off OPEC. So now OPEC is flooding the market with oil; driving prices below the break even price for domestic oil.
This will do two things. Bankrupt some small oil producers weeding out competition. Cause layoffs at the bigger oil producers.
So go ahead and jump for joy over low gasoline prices. Me I would rather have oil in the $90 range and just live with the higher gasoline prices.
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