ddannywms

Bullish Amid Oil Majors' Lay Offs

Everybody's waiting for that chicken to cross the pipeline. Cuts have been made, rigs laid down and storage tanks at Cushing are brimming. So, which comes first, the price chicken lands on a solid floor, or the supply/demand egg sees the yearly seasonal fuel blend switchovers, refinery turnarounds and spring driving increases, the former two of which restrict supply while the latter pushes up demand. Chicken in a basket anyone?

Greg Mankiw: Swap the Payroll Tax for a Gas Tax

Does this idea have some holes? Like a Swiss cheese, it does. If gasoline had risen in step with inflation since the early 1980s, it would average about three bucks and a quarter right now. But where is it? Half that and still falling. Do you really think oil will stay in the mid-forties? Really?