He thinks we will never see $100 a barrel oil again, hope he is right, and says part of the reason it dropped so low was a sluggish economy and a oversupply of oil. He also says that the low oil prices wasn't because of trying to hurt Russia over Ukraine. Which I have to admit crossed my mind.
I hope it doesn't go back to $100 a barrel, it was taking too much out of consumers pockets just to go to work. These lower prices are like getting a raise for many people that were barely making ends meet.
Still I look for it to go back up, probably even to $100 a barrel. The reason I think this is the cheaper it gets the less profitable it will be to go after in places it requires fracking to do so. In some cases it would put companies in the hole trying. I wouldn't be surprised if we don't start seeing bankruptcy filed over this.
Gas is at $1.92 where I live now. Haven't seen it this low in years.