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Thursday, January 28, 2016

Oil

Reuters: Oil jumps as Russia says Saudis proposing global oil cut

4 comments:

Glynn Kalara said...

Whose surprised. Won't help. If they drive ( no pun intended) oil back up this will just put a lot more steam under the transition to solar, wind , and electric cars etc. So cheap oil might have been fun for all of us for the last yr., but it's probably better that it gets pricey again.

Jim Sande said...

It will go up but how fast and for how long is unknown. Lots of solar activity in my neighborhood, we love to see it.

Glynn Kalara said...

Prices here have already jumped 10 cents overnight. They go down a penny at a time over weeks. I expect to see prices run up back to over $2.50 a gal. in a few mos.or maybe even a few weeks it's possible. I'm thinking of buy an all electric next fall when the 200 per charge cars hit the market. I want off the gasoline merry go round.

Jim Sande said...

I know you have pointed out a real rip off in the economy. Oil goes down, gasoline prices reluctantly and in tiny increments go down as well - eventually. Oil goes up and gasoline jumps overnight. Somebody should start a class action lawsuit here. I mean really.