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Drop on our next guest says you think -- feels -- to save the economy.
Think again Tom -- set the Oil Price Information Service chief felt oil strategists is with us today and has more on that so we're just -- said we've come down a lot said.
This'll bail us out in the recovery will be off to the -- again lower gas prices you say now -- -- a drop I don't think so I think the only way you get really lower prices in other words pricing at say the points were use in the last couple years is if you get this Greek contagion.
In Greece sneezes and the rest of the world catches cough which I'm not what you want -- -- -- necessarily another not so glad it is not what you wanna room for another sort of -- -- of that group without that and I think the International Energy Agency in some of the folks that are being pretty responsible.
Mean we need more OPEC crude and if the world does continue to grow at about a 4% pace.
We're gonna face a tough winner and a tough spring next year.
We might see 325.
To 375 this year but that's 75 cents a dollar above last year.
And at the end of the year I think it's gonna add up to about a quarter of a trillion dollars more that will -- And why hasn't demand fallen off a cliff.
People have been had been able so far to soak it up maybe if the payroll tax yeah.
I think it's a little bit EEU surrogate sure put up to the mountain then you get used to the altitude for awhile -- -- take you down a little bit.
I'm really worried about July July is the most spectacular month for gasoline demand in the US.
And I think what you might happen in July is sort of that storm where people look at their 401K statements which will come for the second quarter.
They'll look at 350 gasoline and it's not gonna be so hot.
So we are driving about as much as we were last year right now -- have to remember this more people in the motor pool.
But we're paying a lot more we're paying a lot more for jet fuel and diesel and other products as well how much of what it.
Effects that -- on the demand side is is for consumers somewhat psychological that if they get used to higher prices in this and they come down even if it's still high.
It comes down 25 cents or fifty cents they -- -- themselves for a while least it's not for box anymore.
I -- -- -- drive I think as part of that but it's kind of like you go up a 102 degrees and they take you down to 95 or so -- sooner or later 95 it's very uncomfortable and you start to -- you know sort of oils and cramps and heat exhaustion and we make you a little bit -- gas exhaust in the summer you know.
What do you make of all these investment banks still predicting sky high price well.
What role -- they play in actually creating the higher prices just by making these calls.
-- -- are the cheerleaders -- that the trump orders I have a would go word that I point four at the hump lenders and I don't know if you looked at it that way you might be able -- Goldman Sachs is sort of like Al hurt.
Or may be Morgan Stanley is kind of miles Davis and all the other ones combined -- like Dizzy Gillespie.
I mean everything depends on that global growth scenario if you get Greece or anything else that sort of slips aside.
It all -- -- OK so.
And the like the hump that are -- leave it tell us what -- not think you know musicians what can you just gotta be very careful speaking at a few of us like that was really a a combined twelve years old they didn't.
It leave us with a prediction and because for the summer you can go threat -- in and low three's I guess -- them only get.
Through that through July and into the fall where where gas prices at the end of the year do you think well you probably -- as well off asking the swami about that -- without hurricanes I think will continue to sort of stay around a three -- five or 350.
We get hurricanes like a probability -- in the Gulf of Mexico just to turn on the station and see it is going to be worth 25 or thirty cents in an upward move.
Regardless of whether the hurricane actually comes ashore in terms of the mere thought of it.
And then toward the end of the year I do believe that the investment banks with their trumpets are correct that I do believe that we start knocking up.
Where the demand gets closer to supply and that's -- are now.
Could see again -- thank you very creative company.
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