Oil Price Drops Worst To Come?

[G. David Felt]

G. David Felt
Alternative Fuels & Propulsion writer
www.CheersandGears.com

 

Oil Price Drops, Worst To Come?

 

CNBC had a great review this past week on Oil Supply, markets and where the cuts will come before we see prices rising and why does 15 barrels a day matter?

 

CNBC Top Oil Analyst story with video

http://www.cnbc.com/id/102414761

 

Capex Cuts will determine oil's bottom: Analyst.

http://www.cnbc.com/id/102417058?utm_content=bufferb47df&utm_medium=social&utm_source=linkedin.com&utm_campaign=buffer

 

While we have seen gas prices rise again in the last few weeks, Inventory supply and the need to do something with all the oil being pumped in the US will cause prices to drop again. By the end of the week Oil per barrel on both WTI and Brent crude had dropped by as much as 2.4%.

 

So if the politicians have their way with raising gas tax's when would we see gas return to $4 to $5 dollars a gallon? Some say 2nd quarter of this year, others are saying towards the end of this year but all seem to think we will see gas go back over $3 a gallon for sure in 2016.

 

Washington state is considering a 32 cents per gallon gas tax increase to fund expanded road projects and general fund. Whether it passes the fall vote or not will be another thing and the fact that citizens are tired of funding things such as the 500 million spent on Illegals medical costs and other run away social services along with the under funding of schools and the education of future workers of America.

 

What are your thoughts?

 

Review the stories, listen to the videos and sound off on what you think Oil will do to this country and the direction of Auto's!