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Story by Superior Auto Institute / www.nodents.com
The recession is dropping and the economy seems to be gaining some control
back from its three-year painstaking unemployment falls, home sale decreases
and auto industry bail outs.
With that in mind, people start to become concerned about gas prices. For
the past three years, they have risen and fallen almost daily. Therefore
it's only natural to be concerned about what we will see next and based on
current statistics we will see gas prices increase.
Oil prices fell below $79 a barrel on Friday, October 29th, strengthening
the US dollar. Oil is majorly bought and sold in dollars which in turn
allows investor's who are holding various currencies such as Euros to buy
more crude when the dollar has taken a fall and sell once the dollar has
increased.
This again gave way to believe that the US economy is heading in the right
direction through-out the 3rd quarter while it only contracted continuously
thorough out the past year. Another reflection on the economy's success
comes from the stocks, showing us that Dow Jones' industrial average was up
21 percent on Thursday, October 29th.
It is true that while some of these upbringings prove too many that the
economy is getting better many still believe that the economy is still at a
standstill.
Here are two opposite views on the issue:
Barclays Capital, an investment and capital investment banking division
reported that, "The move higher in oil prices is, in our view, fundamentally
justified. On the macroeconomic front, so far the path of recovery has
surprised to the upside."
While this view is a highly optimistic view on the economy others were not
convinced.
JBC Energy, an energy company in Vienna reported that "Oil still looks to be
overpriced and an increase in GDP after four quarters of decreases does not
mean the U.S., or the rest of the world, is out of the woods yet."
Analysts look to the demand and accumulation of oil stocks and petroleum
products to find an answer to the question that is on every American's mind,
"is the recession over?" Analysts find that the statistics show no reason to
celebrate yet.
When looking at the figures we are all convinced that we have no clue what
the economy is going to do. It could keep rising leaving the recession
behind in the dirt or it could just as well take another plunge and allow
the recession to wreak havoc on American's so badly we end up falling into
another Great Depression period.
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