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RACEVISION
NEWS
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WORLDWIDE
RACING NETWORK
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Gas
Prices
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| RACEVISION.COM |
Nov
22, 2008
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Tanking Gas Prices
Gas prices tank to lows not seen
in 6 years. How low will it go? With the economy
in such a decline we may see $1.50 gas. Wouldn't
it be nice to store it away in a large tank somewhere
for when it goes back up? The only problem is
you can't. This is the reason why the gas prices
are so low in the first place. The oil companies
have to get rid of it before it starts going bad.
Even though fuel lasts a lot longer than it used
to in the old days it has a shelf life. The price
lowers when the demand is less than the supply.
If only people were smart enough to realize this
many months ago we would not be in the mess we
are now. When gas hit $3 a gallon everyone should
of stopped driving all at once. But they didn't
and it went over $4 a gallon. The only way to
drop the price is to shock the market. This is
what caused the deep spikes. It is not so much
the decline in use because oil companies can slowly
adjust the refinery output to keep prices up just
as they are trying to do now. But the demand keeps
going down more than they are reducing the output.
If all of a sudden people start driving a lot
again it will spike up even higher because they
cut back production so much. So folks keep the
car in the garage. You will save your brakes,
tires and your car will last longer. I think the
people finnally got smart and are still not driving
even with the low prices. I am sure with all the
money the oil companies made they can suffer some
losses for a few years. Maybe it will push them
to invest into other types of energy businesses.
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