Thursday, October 9, 2008

Don't bet on gas prices staying lower longer

The Financial Times reports that a majority of OPEC members are asking for an emergency meeting to address the decline in oil prices.

Their economies depend on oil prices. So look for OPEC in an amergency meeting to cut the production of oil, raising gas prices and heating oil prices with the onset of winter.

T. Boone Pickens believes the price of oil will be back to $150 a barrel next year. So don't believe all the hot air coming from CNBC anchors such as Larry Kudlow concerning the economy and lower gas prices.

If there is one lesson learned from the ongoing turmoil gripping this nation is that things change fast.

1 comment:

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