Lisa

Analyst predicts plunge in gas prices
McClatchy Newspapers, by Kevin G. Hall

The recent sharp drop in the global price of crude oil could mark the start of a massive sell-off that returns gasoline prices to lows not seen since the late 1990s — perhaps as low as $1.15 a gallon. "All the hurricane flags are flying" in oil markets, said Philip Verleger, a noted energy consultant who was a lone voice several years ago in warning that oil prices would soar. Now...

Good for now but bad for the future if prices drop too much. We need new sources and if prices drop today there will be fewer new sources tomorrow. Best for all I think is around $40.

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Charles

Indications of an oil reserve bigger than the ENTIRE Middle East have been found in the Rocky mountains. Along with the reserve found in the Gulf that analysts say has the potential of cutting our dependence on foreign oil by 50% I think we will see a return to below $1.00 a gallon prices in the next 3-5 years.