Saturday, December 13, 2014
Over the Barrel
In spite of seemingly good news about lower oil prices, US stock markets are tanking. Who would have thought that price stability for OPEC might be a good thing? Evidently, the few more dollars we millions of motorists have in our pockets after a fill-up count less than the billions big oil fails to rake into their coffers because gas prices are down. Apparently and against all logic, plummeting fuel prices may end up harming America's economy. I had hoped that with less spent on gasoline, consumers would spend more for the holidays and retailers would prosper. In the event, oil prices are going down but that does not seem to be a boon to the overall economy. I am still hard pressed to see how cartels that restrain the free market help the world prosper.