I was amazed to see the following sign for gasoline in Midwest City, Oklahoma on Thursday this week, just west of Oklahoma City: $1.97 per gallon!
From what I understand, the futures markets for oil have plummeted with the recession underway and widespread predictions of lower oil demand in the months ahead. No one enjoys a recession, but it certainly is nice for gasoline prices in our area to have fallen so precipitously.
I was in Chicago three weeks ago and learned from one of my taxi drivers that gasoline there had been up to $5.19 per gallon just about 4 months ago. While I am glad to see gasoline come down in price, I hope this will not erode the resolve of U.S. citizens everywhere to end our dependence on foreign oil. We need to adopt and implement the Pickens Plan, regardless of who wins elections on Tuesday!
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oil, gas, cheap, gasoline, pickens, plan
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