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Originally Posted by pepatrick
Im sorry...its supply and demand at work. If the prices go up people will conserve. If the prices stay low while supply is low, everybody and their mother will try to fuel up everything that moves. This by itself will create more of shortage and a serious problem. Do I like paying 5 or 6 a gallon...hell no..but if that is what it takes to make sure we have plenty of gas...so be it. It is not the gas stations fault. It is the lack of supply of gas...and the oil companies are charging because demand is high...and supply is low. This is where the government needs to stay out of the way and let CAPITALISM take its course.
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That ladies and gentleman is economics 101...can you imagine? 26 gallons x $5.5 = $143 fill up four times a month = $572 bucks...say good bye to average people's disposable income. The average married couple in this country earns a combined $35k...COMBINED!....you may want to look at making your stock portfolios defensive in the near term. If this does come to light before winter. The economy is going to grind to a halt. Xmas for retailers will be a disaster and job losses and desperation will mount. THIS is not good. Keep an eye on the Fed the market had a price increase factored in for Sept. That might be off the table and rate cuts might actually have to come back. This is a short term shock but it is happening in hours...not days and weeks.