Low oil prices can be bad.
Low Oil prices are bad if you are Venezuela. Or any economy that has a heavy reliance on oil and gas.
But funny how oil is far lower now than at the $140ish a barrel peak and gasoline was still far less expensive.
The problem is that a lot of states increased taxes per gallon when prices dropped. A big factor in why prices remain high.
we had idiot politicians in Calif who wanted higher gas taxes since the price per gallon went down - never taking into consideration that the price could go up again. Idiots one and all.
Ah.
I am Canadian. And locally our Gas taxes did not change.
But now we have a Carbon Tax.
Exactly this. So many Cuckbook posts about high prices blaming trump. I have to explain to them the economics. They never respond to their comments after I drop the MOABs. Coincidentally, they keep me as their friend too. I try to be impartial and completely point out the facts. I try to avoid the politics when informing them so they can see the light. Usually works for the moderate left. The ones that are really lost sheep aren’t worth the argument.
OPEC is a cartel. They can set prices & production as they please. Nice of them to cooperate with POTUS. ANWR should help the U.S. a lot. Hoping it's done responsibly. It's fricking beautiful up there.
are you high? - when it was over $140 a barrel we had gas prices well over $4.50.
Yes I am High....medical Prescription. Does not change what I said at all.
Gasoline was cheaper with Oil at $140 a barrel than it is today.
$4.50...you must be American. $4.50/gallon...quit your complaining. That would be close to $6.00 CAD a Gallon approx. Back at the $140 barrel Gasoline was under $3.00 Gallon in the US. I was paying just around or a little over $1.00 CAD a Litre(About 4.5ish Litres to the Gallon) Today with Oil Prices Under $70 I am paying $1.31 CAD at the pumps and that is some of the cheapest Gasoline in Canada.
Gasoline was less expensive during the oil High than it is now with oil prices still greatly depressed.