You do realize that if GM and Chrysler went under it would also hurt Toyota, Honda and Nissan don't you? It would also spiral us quickly into a depression.

I just saw on the evening news that OPEC is mad at Oklahoma. Cushing, Oklahoma in particular. They said Cushing is the largest oil storage facility in the world. It is reaching record capacities and could be completely full within two weeks. So get down there and suck my dick or you'll freeze to death in the dark.

I believe it was Teddy Roosevelt that once said "What is good for general bullmoose is good for the economy" referring to GM. It has been a long standing economic belief that in order to serve the needs of American family, that we must first look after the needs of corporate America. They are the driving force of the economy. They create jobs, and put Billions of dollars into the economy. The bailout is putting that belief to practice. If the big 3 go under, it would have a devastating effect on the economy.

Crude down $2.46 (7.26%) @ $31.41

Damn.

Damn is right. How far is this shit going to fall?

Interesting note....gas is up 7 cents here.

Its been 5 years since its been this low.

Yeah. ****ing Holiday price gouging.

I have no idea. I thought it would bottom out in the $60-$70 range, so that shows what I know.

Is anyone making car trips this Christmas that you would not have if gasoline was still $4.00?

I never thought I'd see gas below $3.00 a gallon in my lifetime after it hit $4.00.

I can't imagine it falling under $20. Then again, I didn't think we'd see gas under $2.

Bah, I did. $147 crude was grossly overpriced.

Is there actually a chance to see gas below a buck a gallon? The lowest I've seen here is 1.29, then it took its usual holiday hike to 1.39.

There really are three factors at play in this decline:

1) End of speculation driving up crude to artificial highs.

2) Decreased demand, here and abroad.

3) The recession.

Hard to say which came first or which caused which. The bottom line is: keep demand low if you want lower gas prices. I do think crude is under-valued now, which will prohibit new E&P. That's not good.

National retail average? I doubt it. We are at $1.65 right now. In the Midwest? If crude gets to the $25 range, yes.