Friday, December 12, 2008

#TCOT Gas Prices Will be Going Down Because of the Lack of an Auto Bailout

Yeah, I was scratching my balding head when I read the original article as well. It turns out that people who invest in oil futures see the lack of an automotive bailout as a bad thing. The fear that almost every factory in the US will shut down and thus use less energy. Yes if the bail out had went through our country would be stuck with vehicles that use almost no gas. Less gas, less oil.

What really has my scalp itching is the fact that the Treasury Department now wants to lend funds to the auto industry. Isn't that illegal? If it isn't, can someone tell me how it isn't illegal for the Treasury to give out money without congressional approval?

Oh well, OPEC is about to cut off a lot of our oil soon anyway so we can look at prices rising.

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