Thursday August 7, 2008

I'm Predicting:

The main issue guiding the US election right now is the price of gas.
Call it energy policy if you prefer fancy wording - but bottom line, everything else pales in comparison.

Americans are visceral people. We are highly emotional and we have knee jerk reactions for our immediate needs and wants. And right now, Americans are ticked off at the pump. The candidates are trying to put together policy but they won't succeed because neither McCain nor Obama understands the real issue.

It is very simple:
Gas is to expensive.
Prices went way too high.
Now people are cutting back, there is a surplus and prices are coming down. And prices will continue to come down even more.
Add that to the increased supply that OPEC just agreed upon and the price will drop even more.

The price of gas will not drop to what it was a year ago, but it will drop to about $100 a barrel and level off to about $100 - $110 per barrel.
That should bring the pump price down to $3.10 - $3.20 a gallon.

I know the candidates went to the best schools we have in the country, but it would have helped had they paid attention in Economics 101.

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