Don’t Expect a Gas Pump Shock Over Iran (Opinion)
Driving to work this morning I noticed a nickel hike in the price at one gas station.
we aren’t seeing a quarter spike or much more in gasoline prices, which could have happened a dozen years ago if Iran was facing a possible revolution
A couple of things are at play. Unrest in Iran threatens the supply from a major producer. Additionally refineries may focus more effort on home heating oil to balance the cold snap in the Midwest and Northeast. Some are predicting it could last as long as the bitter cold from winter in the Northeast a few years ago.
And, yet, we aren’t seeing a quarter spike or much more in gasoline prices, which could have happened a dozen years ago if Iran was facing a possible revolution.
Thank a conservative today. The Washington Post explains the oil boom in the United States is spectacular. Fracking technology made it possible against the efforts of American liberals. President Trump has cleared a controversial pipeline and drilling on the North Slope of Alaska will also commence within a few short years.
Russian production is also up and the results are the OPEC economies are staggering under the weight of competition. OPEC money has fueled much of the world’s terrorism over the past 4-and-a-half decades. The news should warm you up!