With Iran possibly being allowed to pump oil again, watch the cost of crude drop again.
When crude undertook it's dramatic fall a few months ago to less than half price, our retail gas prices plummeted as well, as they should have; however, it was really short lived here.
Funny how our gas prices on the west coast rapidly rose again (roughly equivalent to $120/BBl of crude) to where they are hovering around $1.25/Liter today. All of the savings that consumers were going to realize by significantly cheaper gas in order to pour into other segments of the economy - as predicted by the so-called experts - didn't happen.
OPEC's plot to maintain pumping excess oil & force us into economic submission is working. Again the oil companies continue to do really well.
I don't get it...
TAM
