gordon

How Will Temporary Decline in Oil Prices Impact Energy Sector?

Nobody is going to buy electric cars, forget it. Here in San Diego County, none of these macho-idiots driving a 7000+ pound tank is going to get in a little death-trap for more than 30 seconds on the lot. The refiners are not cutting runs, looks like the wholesale gasoline price (.89) is going to the 2002-3 recession 75 cents, 2001 was 50 cents, that's $1.49 gas, maybe lower? They want to make sure Obama's
plans don't get "traction". They'll kill it at a loss for a year to protect their future.
Sure, some rich can afford it, maybe they'll get a tax refund loophole, but those
blue-collar WAGE-earners aren't buying this pie-in-the-sky. Utilities already are
in crisis, trying to raise rates to clean up coal-burning mandates, this grid is
flat-out not happening, neither is Boone Picken's.