Energy Prices to Rise

Gas prices will be heading back up in the US as well, even with all of the demand destruction going on there is a lot less supply available with oil at $60/barrel.
I will agree that long term prices are going up as there isn't enough world-wide supply. Right now energy prices are dropping everywhere due to the world-wide recession we are entering. Argentina is the exception as prices are going to go up. They are currently at very low subsidized levels(which the government can no longer afford). This will add to inflation and possibly create some unrest among the poor who will be hardest hit by the increases.
In Southern Californ price of gas is at $2.59/gallon and going down. It was $2.69/gallon last night.
And price has been going down steadily for the last 2 weeks.
It is great to see people out and about and making big item purchases, as well.
There are certainly mass destruction media "pump" in all of this "energy slams".

Read this article and compare with what tv talking "teachers" were saying to us for years.
(Update) Why Oil Prices Change – Part III | Elliott Wave International

The author is just too polite to call those S.O.B's. (or as they publicly named "market makers") by their actual names and lightly stamped this market "modulations" - psychological. Yea, right.
It is psychological.
A few super-duper goblins are moving things around and rest of the world population trying to get any sense out of it.
Then tv "experts" pop here and there with their lame excuses or deep fundamental "researches" and pass the mantra down to respected viewers.:cool: