No Runny Eggs

The repository of one hard-boiled egg from the south suburbs of Milwaukee, Wisconsin (and the occassional guest-blogger). The ramblings within may or may not offend, shock and awe you, but they are what I (or my guest-bloggers) think.

From their lips to God’s ears

by @ 12:50 on March 7, 2008. Filed under Miscellaneous.

I’ve heard this too many times over the past year to put much stock in it.   However, here’s an article arguing that oil is in a bubble and likely to drop fast and hard to $50/barrel once it starts down.   An interesting argument made by in the article is that the drop in oil will have a negative impact on the economy.   I find that hard to agree with.

The US uses about the equivalent of 400 million gallons of gasoline daily.   That amounts to about 4 gallons per day for each of the 110 million households.   If oil dropped to $50/barrel, that should put gas back in the range of $2/gallon.   How can reducing the cost per household by and average of about $110/month be a bad thing?

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