Friday, October 31, 2014
The Economy - Oil Prices
The good news is that oil prices keep falling. It is so nice to go to the gas pump and not have to spend so much money on filling the gas tank in my car. The bad news is that lower oil prices is actually going to cause more instability across the world. Iran, Venezuela, and a couple other countries need oil to be up over $100 a barrel to keep them afloat. How long will it be until the countries who need oil to be higher do something to cause oil prices to go up? A regional war, a terrorist attack, or maybe a small civil war would be very convenient right now. So we can enjoy lower prices at the pimp for now, but I don't expect them to last. Especially if the price of oil keeps falling.