Tuesday, November 18, 2008

Enjoy Cheap Gas While It Lasts

I am a hopeful person. I am pretty darned optimistic most of the time. Oh, I guess rainy days and Mondays always get me down, but apart from that I'm an upbeat kind of guy. But I'm not upbeat long term for gas prices. I suspect that 6 months from now prices will be well back on the upswing. I am concerned that early next year when congress reinstates the offshore drilling bans they lifted earlier this year, that oil futures will begin climbing again. When that is coupled with a production cut from OPEC, we could see very rapid reversals of recent declines.

I am still on the "Drill Here, Drill Now" bus. We need energy independence.

In the meantime, I'm going to enjoy the heck out of sub $2 a gallon gasoline. But I'm not going to adjust my budget. I'm going to keep the excess in my "gas and oil" envelope and that way I'll be a bit more prepared when the prices start to go back up. That way the pain will be less intense. For now, though, it sure is nice.