atreis wrote:
Care to place a bet as to whether or not the trend will continue (and they'll be down another .80 next year at this time), or reverse and they'll go back up (not $5, but back into the $3.5-$4 range again)?
Since we are parked until this park hosting assignment is over in early Jan, and have to make a 4,800 mile trip from far west Texas to Connecticut via Fort Lauderdale in Jan-Apr ---
I'm betting I'll be paying above $3 by Feb 1st for gasoline.
That's just how my luck runs.
Already we are seeing stories about oil companies shutting down rigs in west Texas which are drilling for new oil. Companies in North Dakota canceling plans to drill, cancellations of scheduled new offshore wells, etc.
Most of the new drilling in the US requires oil prices above $60-70 per barrel to be profitable.
We've got a slight oversupply right now, it will be gone and back to under supply before spring in my opinion.