Why is oil under $100/barrel bad?

Question

Why would some people consider oil falling below that bad? Isn't the lower it gets the cheaper gas is? Thats what everyone wants.

Answer 1

it will bring back the gas guzzlers.

Answer 2

bad for the specs, morgan standley, and goldman sanch

Answer 3

Its not under a $100. Its at $115 right now.

Answer 4

Define "some people."

Are the "some people" who are saying it's bad invested in oil?

Are the media outlets you're hearing this from funded by Big Oil?

Did you know that Saudi Prince Al-Waleed bin Talal has purchased 5.46 percent of the Fox corporation?

I personally miss gas being 99 cents per gallon...

I consider that pretty darn good, these days.

PS - It's actually possible that oil can go back under $100 per barrel. Check it out: http://news.yahoo.com/s/ap/20080811/ap_o...

:-)

Answer 5

Yes...who are these people?  The oil market isn't going to bottom out.  I think the prices have come back for several reasons.  Less speculation on oil futures, some people are taking their profits and backing out, more "stabilization" in the middle east, slowing global economy = less demand for oil, people are also starting to converse and learn to use less oil in their day-to-day activities.  

Oil still isn't going under $100 a barrel.  It's just not going to happen.

Answer 6

It's not bad unless one hates the US and wants the country to fail. So the democrats and other leftists are probably disappointed. The democrats are using all these so called problems to convince the American people we need to become socialists and give up our liberty.