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Want Lower Gas Prices? Be Careful What You Wish For

by LiveModern Webmaster last modified Jan 04, 2012 02:11 AM
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by last modified Jun 21, 2011

The day before the 2008 elections, Michele Bachmann took credit for the fall in gas prices , saying: "We saw gas at $2.04 today. That was my goal, when I started this year I wanted to get gas below two dollars a gallon and we are almost there..." Of course, the reason gas prices were so low was because the economy was in total free fall. I wonder what she is hoping for now; as one analyst said on CNBC: He and [Tom Kloza, chief oil analyst at OPIS] said if Greece were to default, Brent [crude oil] would immediately drop because of the potential ripples across Europe's economy. "If you're hoping for $2.50 to $2.75 gas prices, you probably don't realize it, but you're hoping for a recession," said Kozla. More at Environmental Economics ... Read the full story on TreeHugger






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