Lutz: Cheap gas would be bad
This is not a new topic, and we're in agreement with Maximum Bob on this one. We've written as much plenty of times, and we often refer back to this interview with David Cole where he talks about the benefits of an oil price floor for a barrel of oil. He suggested $40 or $45, but that was back in June 2007; more recent estimates I've heard from others put a reasonable limit at $60 or so. Whatever happens with oil prices, we can be pretty sure that a lot of old habits will return if gas keeps dropping. What will you change?
[Source: LA Times]
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