On the Oil Price Thing

by Chris Black

$147 per barrel got us $4.14 in 2007.

That price only lasted a few weeks until the massive recession dropped oil all the way back to $27.

$5 per gallon on $113 oil?

Doesn’t really make any sense.

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Of course the price at the pump doesn’t reflect the price of a barrel of oil anymore.

Wall Street doesn’t even use the price of WTI to benchmark gasoline contracts.

Just wait until the airline’s existing contract fuel prices end. We’ll all see a doubling or tripling of ticket prices, with several carriers going bankrupt.

The truck that brings you your food gets eight miles per gallon too. Hope you’re growing a vegetable garden and raising some cows/goats.

The “great reset” starts first with the great shutdown.


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