An Oil Price Told-You-So
I know it isn’t nice to gloat but I really think a loud “I told you so” is in order to all those people, including “industry experts”, who were predicting $10 per gallon gasoline. Crude oil closed at just over $64 per barrel today. That’s down roughly 55% percent from its high in July of just over $145 per barrel.
So to all those experts predicting $10 gas and the people who went nuts when I told them the price would come down sooner or later, I say this: just remember that sound economic principles always win in the long run.