its the OMG GAS IS SO FRIGGIN CHEAP! thread

[speedylocksmith]

I said in a thread on CF a few weeks ago that oil will get down to 20-30 a barrel, maybe even lower. It's under 50 now and I'm sure it will hit the predicted range.

[fasternyou929]

Originally Posted by speedylocksmith

I said in a thread on CF a few weeks ago that oil will get down to 20-30 a barrel, maybe even lower. It's under 50 now and I'm sure it will hit the predicted range.

If it hits $20-30, our economy's really going to be in the shitter. I'll take $50/barrel and a healthy economy anyday.

[jgalt]

Originally Posted by fasternyou929

If it hits $20-30, our economy's really going to be in the shitter. I'll take $50/barrel and a healthy economy anyday.

I don't see how cheaper energy would put our economy in the crapper!

[Amorok]

Yeah, I'm seeing around $1.80-1.85. It's awesome.

[fasternyou929]

Originally Posted by jgalt

I don't see how cheaper energy would put our economy in the crapper!

Because it'll only get that low if people continue not spending money. Prices of other products will follow suit and drop, which means companies will produce less and spend less in R&D. People don't spend money, companies don't spend money, and the job market continues its current trend. ETA: and the global stock market. And the housing market. Etc.

That's how we get in the crapper. Deflation FTL.

[buzzcutt2]

$2.05 here...I heard Leon saw it for $1.99.

[jgalt]

Originally Posted by fasternyou929

Because it'll only get that low if people continue not spending money. Prices of other products will follow suit and drop, which means companies will produce less and spend less in R&D. People don't spend money, companies don't spend money, and the job market continues its current trend.

That's how we get in the crapper. Deflation FTL.

But when the prices of everything fall, people will have more money to spend, and the economy will rebound. I don't think we have bottomed out yet.

[Leon]

Leon saw 1.99 at the 7-11 at Copans and Dixie.

[JARVIS518]

Originally Posted by Leon

Leon saw 1.99 yesterday.

Originally Posted by Leon

Leon saw 1.99 at the 7-11 at Copans and Dixie.

why is leon typing in the 3rd person?

[fasternyou929]

Originally Posted by jgalt

But when the prices of everything fall, people will have more money to spend, and the economy will rebound. I don't think we have bottomed out yet.

True, but at $20 per barrel oil, it's going to be a LONG climb out of the gutter. Years I don't want to spend worrying about job security and friends out of work.

So I'd rather have oil stabilize where it is and see the economy begin healing before something triggers a sprial effect. I have no desire to live through a depression.