Monday, November 17, 2008

Price of gas plummets

One trend that appears to be continuing strongly at the current moment in time is the falling price of oil. After peaking around the $150 per barrel mark this year, the price of a barrel of oil has come down around 65%.

This to some people is a validation of the theory that speculation was the only real thing driving the price of oil whereas to other people it is just an indication that the people controlling the world's oil supplies know exactly when to press the issue and when exactly to back off. While the latter is a bit of a conspiracy theory, the fact that oil increases seem to coincide with maximum complacency in the market combined with the fact that it seems to decrease in price coincidentally with the maximum desire for change in the marketplace has made many people into proverbial UFO believers on this particular issue.

Whatever the reason for this happens to be however, the truth of the matter at this point is that the likeliest future pathway is that nothing is going to happen as a result of this sudden sharp decrease in the price of oil.

People will have an easier time making their purchases at the gas stations and their monthly financial statements will look a lot better as a result, but ultimately the desire for the marketplace to move past gasoline at least in the area of personal automotive transportation has already taken hold in the free markets of the world. Many of the world's top automotive companies already have plans to come out with fully electric cars by 2010 and of course fully electric cars have no reliance on gasoline whatsoever.


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