Bob Brinker Free Discussion Site 59,820+: Oil Price

» Happy_2 - Oil Price

Bob Brinker keeps saying oil prices are no problem because they spiked much higher 15 years ago. What Bob doesn't realize is that the peak price 15 years ago was a very, very temporary event. As I recall within a few weeks, prices had tumbled back to something more normal. This time the price of $67 a barrel was achieved gradually over a long time and shows no sign of falling much. Even if oil falls back to $50 the effect on the economy will be more than a brief spike that happened 15 years ago.

-- posted by Happy_2