
As I was feasting upon my oatmeal this morning, I watched the NASDAQ crash 100 points within ten minutes of the New York Stock Exchange opening. As this is seemingly now commonplace, I proceeded to take another bite of my breakfast. As the news progressed in it's daily routine, I noticed something peculiar, the price of gas was dropping... I wondered why such a thing would happen in such a dire time. Upon listening, I discovered the demand for oil has dropped drastically (A written version of what I heard is hyper linked to the picture on the left).
I worry now that this has occurred, as there's no way gas can drop from nearly 4 dollars a gallon to 2 dollars and some change in a few months without a serious catch. Sure demand dropped and prices along with it, but doesn't that imply that once the prices reach an all time low that people will begin buying again? I feel this price plummet will worsen our current oil crisis, while padding the stock market with just enough money to raise prices once again, only to start the same cycle anew.
This drop in oil price can mean nothing good. Yes, we shall have extremely cheap gas for a month or two... but the prices are going to skyrocket and throw the economy on its knees again, and possibly even worse off than it is now. And on top of economic pain, we are going to feel the effects at the gas pump. I already tried to fill up my tank yesterday, only to stand in line behind ten or twelve other furious customers. People either need to learn how to keep conserving gasoline, just as if the price were still 4 dollars, or horde the discount fuel and learn that the price will spike to record highs...
This economic crash is leaving so much in our everyday lives crippled. All of these little numbers we see on TV everyday are now effecting the way we go about our lives... I never thought that these stocks would bring such a profound effect to the everyday. Hopefully soon, something will cushion such a crisis, because these low gas prices and sales everywhere are just the catch to something horrendous.
Click here for a link to an interesting video about the effect of the gas prices on our local providers.
