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.
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.
WTI Rebounds After Big Surprise Crude & Gasoline Draws https://t.co/QaNbXuQgrY
— zerohedge (@zerohedge) May 17, 2022
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.