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Oil Prices Going Back Up after a Short Lived Drop

Oil Prices Going Back Up after a Short Lived Drop

In what will come as good news for a very few, and bad news for everyone else, oil has finally recovered today after hitting its three year low. Today, the 2nd of December, has oil back up to fifty dollars a barrel. The prices haven’t caught up with the pump, yet, but they definitely will before long.

For a very small group of share holders, that’s wonderful. For everyone else, well, we can hope it won’t last. In many parts of the US, a gallon of gas is less than half what it was a month ago, when we had American drivers struggling to keep up with astronomical four to five dollar a gallon prices, even while companies were, and are, still, undergoing massive layoffs, eliminating retirement options, and the rate of growth in pay from year to year has come nearly to a standstill. Even in light of all this, 2008 saw gas companies milking Americans for every cent until they simply couldn’t get away with it anymore, and now it looks like our days of buying gas for under two dollars a gallon are numbered.

In other words, anyone who owns a car would be wise to start thinking about their investments right about now. The whole “Ride a bicycle to work” thing doesn’t seem to be catching on with folks who have to commute several miles every morning (or just about anyone else, for that matter), so perhaps buying up some gold bullion coins and bars would be the best way to prepare ourselves for the coming months in oil prices. At least when gold bullion is on its way up (gold bullion hit 781.30 as of December 2nd closing costs), it’s good news for more than just a few CEOs.

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