QuoteIs Cheaper Oil A Good Thing?
By Vivienne Walt / Paris Friday, Oct. 10, 2008
How far can it fall? People have been anxiously wondering as they watch the plunging stock market. But increasingly the same question is being asked about another crucial figure: the price of oil. It has plummeted nearly 40% in just three months, from about $147 a barrel in July to below $83 on Friday, with no obvious bottom in sight. If that sounds good, you are probably a driver who winces these days at filling your gas tank. But the downward spiral could mean trouble for oil-rich countries and for the environment.
Full Article:
http://www.time.com/time/business/article/0,8599,1849215,00.html
saw $2.29 gas in Georgia this weekend...about 30 miles north of the border.
QuoteIs Cheaper Oil A Good Thing?
ABSOLUTELY!!!
Quote from: jaxnative on October 13, 2008, 10:03:12 PM
QuoteIs Cheaper Oil A Good Thing?
ABSOLUTELY!!!
Yes but not a free fall on any or all commodities.
Quote from: jaxnative on October 13, 2008, 10:03:12 PM
QuoteIs Cheaper Oil A Good Thing?
ABSOLUTELY!!!
may i suggest some other irrational headlines?
Is Cheaper Food a Good Thing?
Is Cheaper Medicine a Good Thing?
Is Cheaper Rent a Good Thing?
Is Cheaper Electricity a Good Thing?
and my personal favorite...Are Cheaper Stock Prices a Good Thing?
;)
Please read the article before commenting.
Lower oil prices at this time will have a beneficial effect on cash strapped consumers and will help alleviate the costs of heating homes this winter. It will lower the costs of transportation which will have a positive effect on millions of businesses and consumers.
I don't believe the American people will be lulled into thinking this will be a permanent event. Due to our lack of foresight, environmentalist interference, and political and moral courage, OPEC and other oil producing countries will continue to hold a great deal of leverage over our economy and way of life. If oil prices remain reasonable for a considerable time it will give the us the ability to try and develop common sense energy alternatives instead of the hysterical rush to jump into expensive and inefficient systems that will put us at a competitive disadvantage with the emerging economics powers and radically alter our way of life.
I'm not sure from the article on why I should worry about the economic problems of Saudi Arabia, Venezuela, or Iran. Saudi Arabia has raked in trillions of oil dollars over the years and is still a single commodity economy. The governments of Iran and Venezuela are fully responsible for squandering their massive oil wealth on their socialist models. Venezuela's once vibrant economy was suffering greatly even before the crash in oil price's due to the economic policies of it's idiotic socialist leader. I don't have any problem seeing social and civil unrest in any of these countries.
No, I don't have any problem with cheap oil.
Quote from: Lunican on October 13, 2008, 10:32:36 PM
Please read the article before commenting.
I did... and it is...
Great article. I also agree it's a good thing. Remember, expensive oil and thus exspensive gas was *one of* the contributing factors to the slow-down of the economy, just ahead of everything else coming to a head.
Expensive gas = less traveling = less tourist $ & less consumer spending = weaker economy.
A rise in energy costs also = inflation trigger.
So yes, cheap oil is a good thing. Particularly for the economy.
the jury appears to be out.
what does it mean that no one believes the higher price of oil is a good thing?
Driven, please keep the political discussion limited to the political section. This is a discussion on the pros and cons of cheap oil.
Quote from: Lunican on October 14, 2008, 09:05:43 AM
Driven, please keep the political discussion limited to the political section. This is a discussion on the pros and cons of cheap oil.
but of course. i'd just like to know why NO ONE believes the higher price of oil is a good thing.
what do you think the CONS are of cheap oil Lunican?
I think in general it's not good to have massive fluctuations in price in any industry. Sure, having less expensive fuel is great. It sure makes going on trips and trying to live day to day easier, but not at the expense of having an unstable market.
So to answer the question, Is Cheaper Oil A Good Thing? Yes, but as a steady decline due to concrete reasons, such as deregulation, added refineries, etc.
www.WhatsUpJacksonville.com
Some history...
the last time we had really high gas prices (the late 1970's) we started investing in alternative fuels....when gas prices dropped in the early 1980's, we stopped investing....and instead began driving larger, less fuel efficient vehicles.
hopefully the lessons of the past are not forgotten this time around.