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Question: “SO IS IT GOOD NEWS, OR BAD NEWS? U.S. gasoline price marks biggest drop ever.”

Question: So asks instapundit.

Answer: Bad news. It means that the markets are predicting a significant reduction in demand. They are not predicting a Green Revaluation. They are predicting a significant reduction in economic activity worldwide.

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2 Responses

  1. True, though I think a bubble bursting is part of it as well. Not only did nearly all commodities experience record highs in the past year or so, oil’s rice was faster than others.

    The hydrocarbon market correction would not be so exciting were it not for Russia’s recent bad actions, which make it more important to get that price down.

  2. All good points.

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