Originally posted by bjtheman1
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Originally posted by QIK46 View Postyep 2.70-80's according to futures for Nov. The only question to ask is the health of the overall GLOBAL picture. If fuel prices are weak whats that say for the global economy?Low oil/fuel prices do have a positive impact on the economy but they will also have a negative impact on the Texas economy. One of the biggest reasons we've done as well as we have since 2008 is because of the oil and gas boom. When oil hits $80 we will see almost all fracking production come to a halt. That will have a negative impact on us all...Originally posted by 2011GT View PostWas the global economy shit when gas was $1-2 per gallon?
In the long term I think $80-90 is a reasonable price. It will be good to get all the speculators out of the market. It is just unfortunate that we can't get our politicians to do something to keep speculators reigned in so they won't drive prices up like they have. IMO all they have to do is tell them they have to take delivery of their contracts. That would pretty much kill it dead.
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