Before 2015 slides to its big finish, greetings and salutations are in order. For some, this year was a good one, others will remember 2015 as something else. For all, this is when we put it into perspective.
In the season of gift giving, it’s safe to say that motorists around the world were given a gift in the form of cheaper transportation. Once oil prices started a rapid and precipitous slide one year ago, the cost of going from here to there required fewer dollars for the trip.
With crude oil now stumbling along in the mid-$30s, fuel prices are the gift that keeps giving.
The thing about fuel prices, though, is that once people get used to lower prices at the pump, they expect them to stay that way. Once prices recover, and they always do, we will once again hear complaints about obscene profits, evil corporations and multi-national conspiracies.
That’s the problem with a gift that keeps on giving. Once the giving stops, the hollering starts.
In the meantime, the industry keeps shrinking, new projects are deferred and promising careers in oil and gas are diverted to other parts of the economy. Sooner or later, things will turn. Boom and bust, expand and contract, it’s all part of the game.
So, let’s cheer the warmth we feel with friends and family, be grateful for what we have and have confidence in a better year ahead.
Best holiday wishes and a prosperous New Year to you and yours.
Posted December 20, 2015