Jul 09, 2014
"If it wasn't for fracking gasoline would be well over six bucks now." It would be well over $4, but not quite that high. If we didn't frack, then it would be like taking Libya out of the equation, and we're already higher because Libya is still not shipping out as much as they did. If Iraqi oilfields are in the hands of ISIS and they have lower amounts of oil being shipped out of the country, then we're going to go past $5 a gallon, possibly on up to $6 to $8 because that's nearly three times the output of Libya. I don't like the fracking, or at least I don't like the fact that we do so much of it, but we'll all see the end results of it within a decade. I hope you had a great Independence Day. Have a great day and week ahead.