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TheCountOfNowhere

Gas Plummets To 46 Cents A Gallon In Small Michigan Town

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Nice! Gotta love a price war.

We dont seem to see them often in the UK.

Sure the super markets tell us they are discounting this that and the other but the prices always go up, how does that work ?

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The financial types (well, City AM writers at least) see the low price of oil as something that needs "warning" about. I can see that if you're an oil company or speculator then high prices would be welcome, but the rest of the economy?

I wish they'd warned *before* the price cratered. And, even better, *before* I'd bought all those shares in Shell and BHP.

Oh well, all part of the rich and varied life of the equities investor.

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The financial types (well, City AM writers at least) see the low price of oil as something that needs "warning" about. I can see that if you're an oil company or speculator then high prices would be welcome, but the rest of the economy?

Or if you are a despotic middle-eastern regime with an increasingly demanding population to buy off.

I suppose the unease in the financial press is not so much about the impact on oil-producing states but more the fall out from all the banking defaults which will follow the oil/commodity slump as sure as day follows night.

There is already talk of huge defaults in the US shale industry. In a globalised banking industry which is susceptible to the smallest of shocks, this could be the equivalent of a chinese butterfly beating it's wings.

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For those of you old enough to remember a time when gas was cheap, you probably experience plenty of nostalgia every time you watch an old movie, and catch a glimpse of a gas station with sub-dollar prices. Believe it or not, you can experience those prices once again if you happen to be passing through Michigan. For the first time in years, there are several gas stations in the area where you can buy a gallon of gas for less than a dollar.

The slump in global oil prices has already pulled prices down across the country, but three gas stations in Houghton Lake, Michigan are involved in price war that has driven prices even lower. The local Citgo Station is selling for 95 cents a gallon. The Beacon and Bridge gas station is selling fuel for 47 cents a gallon, and the Sunrise Marathon is selling for 46 cents a gallon. Not surprisingly, there have been long lines at these stations all weekend, and police officers have been deployed to direct traffic.

Find those prices difficult to believe. True enough for the looking back at movies.... and of when house prices were in some sort of line with general earnings, before coarse entitlement, BTL galore, HPI worship..

Hopefully now for the deflationary vortex, including on the coarse housing-investor heads.

Everything Wrong With DieHard

Kids, take a trip back to the 80s when hand guns were allowed on planes,

smoking was allowed in airports,

pregnant women were advised to drink by their female bosses,

14 year old teenagers were allowed to work as limo drivers,

and gas was f**king 74 cents a gallon!

gWr71dBA.jpg

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