Home › Forums › Housing › UCLA Anderson Forecast Depends on $50 Gas › If you look at history, the
If you look at history, the last time that oil jumped like this, demand dropped and caused a world recession.
It costs $50 dollars to fill your tank. Any one going out for a Sunday drive?
Oil is at $70 per barrel today, ask yourself the question, “Did they raise the price of oil or did they devalue the dollar?”
If they devalued the dollar then I would agree that the price of oil will stay at $70/per barrel.
If thats not the case, I see a recession where no one wants to buy gas on the level they bought before.
Rememer when you use to put only $5 in the tank because you were short of funds, well you ain’t going far on 5 bucks today!
