Gas to drop to $2.50 a gallon by November

Discussion in 'Politics' started by Chris, Jun 24, 2012.

  1. Chris
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    Chris Gold Member

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    Philip Verleger, an economist and founder of PK Verleger LLC, said that gas prices could drop all the way down to $2.50 a gallon by November during a recent interview with Bloomberg TV.

    Saying that Saudi Arabia has ample reason to “overproduce” more oil than the market needs, Verleger said a barrel of crude oil could fall to $40 a barrel — something the US hasn’t seen since 2008 — causing the TV anchor to do a double-take.

    “There’s no such thing as fair value,” Verleger explained. “Prices will overshoot for every commodity; farmers have been talking about this for a hundred years.”

    Economist: Gas Prices Could Dip Below $2.50 - Woodbury-Middlebury, CT Patch
     
  2. MuadDib
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    MuadDib He's called The Stig

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    I filled up my truck the other day with regular for $2.99/gallon. [​IMG]

    Falling gas prices will help with any economic recovery, but there's still other energy concerns (War on Coal, Keystone pipeline, restrictions on offshore oil exploration and drilling).
     
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  3. Chris
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    Chris Gold Member

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    The Germans already get 20% of their energy from the sun.

    Are they smarter than us?

    Yes.
     
  4. Grampa Murked U
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    Grampa Murked U Diamond Member

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    Fucking clock work Chris. I told you to your face in another thread when you posted this that you would run with it. Just like its a fact or something.

    You're such a predictable hack.
     
  5. Gremlin-USA
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    Gremlin-USA <<< Me in 1970

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  6. Black_Label
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    Black_Label Registered Democrat

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    Why do you hate the great news that gas prices are likely going to continue to go down?
     
  7. elvis
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    elvis BANNED Supporting Member

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    So we should all buy Yukon denalis again. If its good enough for Obama....
     
  8. Grampa Murked U
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    Grampa Murked U Diamond Member

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    It is not news. Can you not tell the difference between an arguable prediction and a fact?
     
  9. Plasmaball
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    Plasmaball Gold Member

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    i doubt it, but it cant hurt if it does.
     
  10. Grampa Murked U
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    Grampa Murked U Diamond Member

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    That would be a dollar drop in just a few months. I also doubt it but I would certainly welcome it as I spend about 700 a month on fuel.
     

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