To which promises do you hold president Trump.

[Benton]

(11-10-2016, 04:06 PM)BengalHawk62 Wrote: Ya, gas prices are going to skyrocket these next four years.  Especially if he gets his Big Oil friends in his Cabinet.  The price of a gallon of gasoline was $2.05 the morning of Nov. 9th 2016.  I wonder what they will be in 2020?

I think by the end of next summer we'll be near $3. Way too much likely to change over four years to know what the economy will look like globally.

(11-10-2016, 04:34 PM)Millhouse Wrote: Doubtful. If the keystone pipeline gets approved which it probably will, and if OPEC keeps the supply as abundant as it has been in recent years, prices should be as low as they are if not lower due to basic supply/demand out there. OPEC basically flooded the world with oil, which in turn crushed the newly formed fracking industry over here. If they start to limit the supply though, prices will go up, since that is where most of oil is bought from.

Just tryin to give hope is all lol.

I like the optimism, but prices will likely go up. To the bold, Keystone is expected to have a negligible effect on gas prices for the U.S. It's about exporting more oil, which generates more money for TransCanada. GOP lawmakers (and Clinton for that matter) have been courted hard by Canadian investors who stand to make a lot of money exporting. At the end of the day, it won't mean much to the U.S. outside of having more competition for OPEC. That level of competition is like saying we need to spend millions to help out a Canadian lemonade stand so it can play more profitably in the same market as McDonald's.

Also, OPEC likely won't for a few reasons. OPEC tends to push prices higher when Republicans are in office. Why, I don't know, someone with more knowledge might have an idea. I just always assumed it was because Republicans tend to prefer domestic oil production, so OPEC squeezes the profits. Relations with Iraq and Iran — and an interest to make more profit for all 14 members — will most likely have them jacking up prices soon.