Good News Fridays: The Impact Of Lower Gas And Oil Prices

Geek Alabama Good News Fridays

So who are enjoying the lower gas prices?  I know many people are!  Gas prices in Alabama are now mostly below $3 a gallon for regular.  It has been like this for over a week now!

Gas is now below $3 a gallon.

A post shared by Nathan Young (Geek Alabama) (@nvyoung44) on

Yes, I believe we are not done seeing the gas prices going lower, and that might not be a good thing.  You see, with the oil prices going lower, which means the gas prices go lower.  You also see slowdown across the global economy.  The economy in the United States is getting better, but most of the world is seeing the economy slow down.  And that slowdown could affect the economy in the United States.

Another reason the gas prices are going lower, oil production in the United States and Canada in the tar sands.  It is affecting OPEC, and some see OPEC as trying to end the tar sands production by producing more oil, and lower the prices.  It costs a lot of money to produce oil out of the tar sands, and a lower oil barrel price means it would not be profitable to produce oil from the tar sands.  So, if the price of oil keeps going down, could it affect the tar sands production?

For now, the lower gas prices is great!  More people will travel for Thanksgiving and Christmas, more people will spend during the holidays, and people will feel more confident to spend money in the economy.  But, if we keep seeing the gas prices and oil prices going down, we could enter another recession in the United States in 2015.  To understand the lower gas prices, you need to watch this video below from Nightly Business Report.  They brought in John Kildiff to talk about the lower gas and oil prices, and what it might do in the economy, watch below!


Broken Government and Football Picks

I was watching the Obama speech last night and it was like watching 2008 all over again. This speech was like watching Obama campaigning for the White House in 2008. So he held a joint session of Congress last night in which he proposed a jobs plan. Mostly giving tax breaks to businesses who hire, infrastructure spending, and cutting tax loopholes to the rich. It was so funny to watch when one side of the aisle stood up and clapped hard while to other side just sat there quiet as a mouse. I did not hear anything in the speech that would tell me that this will turn the economy around. Even our own representative Mike Rogers of Alabama was not even in Washington and watched the speech at his house. My feeling is the divided Congress will fight over this bill but nothing will pass and I do feel the economy will get worse before the 2012 elections. We really need to end the divided congress and need a new president in the White House. So maybe the voters will be smart enough in 2012 to put new blood in Washington. I have been out of work for 9 weeks now and this speech told me nothing that work will come back soon. As a robot would say, Obama math does not compute.

Now for football picks; my favorite team has a good chance of losing, Georgia’s coach is on the hot seat, and Notre Dame is a flop, anything new to say. Here is my picks plus an upset. Last week 4-2

Mississippi State @ Auburn

After the poor performance of Auburn last week, I hate to say this but I think they will lose

Alabama @ Penn State

I think this game will be closer than everyone will think, but Alabama will win

South Carolina @ Georgia

I think the Georgia coach will be fired real soon, because his team will lose

Notre Dame @ Michigan

First night game ever in Michigan, it will be remembered with a win

BYU @ Texas

I expect this to be a easy Texas win

Upset Cincinnati @ Tennessee

I think Tennessee is very weak and will be exposed, they will lose