Thread: Gasoline at $4 Coming to a Pump Near You, Unfazed by Rising Tab
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Old 12-09-2014, 11:38 AM   #4606
Buehler445 Buehler445 is offline
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Join Date: Apr 2007
Location: Scott City KS
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Quote:
Originally Posted by BigMeatballDave View Post
2008/2009 Economy went to shit. Massive layoffs.
The dive was a liquidity shortage. The recession wasn't because of the oil price.

Quote:
Originally Posted by Donger View Post
True, but this is a very different scenario being played out. Our massive production increase is the major reason crude is falling now, not a global recession. I don't see it going anywhere near what happened in late 2008, when crude got to what, $40?, but who knows. I still think that OPEC is not cutting their production to kill new shale E&P. They are thinking years out, not now.
That's what I've read.
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