Prices will be back up by no later than summer 2016. Oil production is going to fall.
-RW
Tuesday, December 22, 2015
U.S. Gas Prices Fall Below $2 — And in Some Places Under $1.60
Take advantage while it lasts. It won't.
AAA put the average U.S. gas price at $1.998 per gallon on Monday, while fuel-price tracking service GasBuddy.com calculated the national average at $1.995 a gallon. That’s the lowest price by either measure since March 25, 2009.(via MarketWatch)
Prices will be back up by no later than summer 2016. Oil production is going to fall.
-RW
Prices will be back up by no later than summer 2016. Oil production is going to fall.
-RW
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Back up to what? That's the question. The price is capped by the fracking industry, who will steal market share if the price goes high enough. The foreign drillers will not cut production to that extent, unless they're running out and have no choice.
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