Posted On: 07/19/2013 1:28:54 PM
Post# of 39368
Baron --
You are one smart cookie, hit the nail on the head. Price of Crude near $150 will create demand destruction and welcome many other headaches to the lives of all Americans. Remember a few years back when oil made the big run up....where did it peak? At around $148 and systematically pulled way back....as demand destruction was initiated.....prices at the pump above current levels and the consumer changes driving habits for the time being. For now, expect a repeat in consumer behavior if prices run up to those levels again. Much agreement that prices right here or slightly lower are a much better equilibrium for everyone involved.
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