Wednesday, July 13, 2011
President Obama to "drill baby dill"?
Obama's plan is far more measured than anything the GOP has proposed, and yes, he is taking the thunder away from the GOP. Conservatives have made a concerted effort in the investment media to try to scare up commodity prices and the effort is now starting to fall apart. Given the current state of the markets and assuming developing trends continue we should see gas in the $3.35 to $3.50 per gallon range by the end of this summer. There are some economists predicting a 25 cent drop in the next week or two but personally I don't see gasoline retailers giving up their gains that quickly.
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