Down to $3.41 a gallon at our local 76 station...
It's been at least a couple of years since I've seen it this low...
http://www.washingtonpost.com/opinions/ ... story.html
Falling oil prices put pressure on Russia, Iran and Venezuela
THE SILVER lining in the recent financial market turbulence has been the continued decline in the price of oil, which is down about 25 percent since June. In addition to creating a windfall for U.S. consumers — one analysis reckoned the savings could amount to $600 per household — the drop, if sustained, will place considerable pressure on three problematic petrostates: Russia, Iran and Venezuela. The aggressively anti-American foreign policies pursued by all three countries in recent years have been financed in large part by soaring oil revenue.
Though separated by culture and continent, the regimes of Vladimir Putin, Ali Khamenei and Nicolás Maduro have in common autocratic government and ambitions to dominate their regions. More than half of their state budgets come from petroleum exports, and their spending plans depend on high prices: $100 a barrel in the case of Russia, $120 for Venezuela and $140 for Iran, according to the Economist. Last week, benchmark Brent crude was selling for just $85 a barrel, while Venezuela’s heavy oil dropped below $80, according to the VenEconomía Web site.
Normally I eschew simplistic constructions, (they're rarely accurate) but this one is unavoidable:
Low oil and gas prices good for America and her friends...
Bad for our adversaries and our enemies....
As Ross Perot once said, "folks, it really is just that simple"...
. I'll let you know the price next time I fill up.