This morning, while driving into town to get my car serviced, I saw that the price of gasoline at some stations had dropped below $2.00 per gallon. Considering that less than three months ago, we saw gasoline at $4.00 per gallon, it seems so cheap that it's like it's almost free. My advice is to enjoy this while we can, because it probably won't last.
To continue the mangled figure of speech in the title, every silver cloud has a dark lining. While we all celebrate the fact that we're going to be sending less money to countries that don't like us much as long as gasoline is cheap by recent historical standards, we should look at the flip side: Those same countries that derive much of their income from oil sales, such as Iran, Russia and Venezuela, will be having less money coming into their coffers. Combine that with the worldwide economic downturn and there could be a rather dangerous situation if one of those unfriendly regimes gets into a desperate financial situation.
On the other hand, if the repo guys show up in Iran to take back the centrifuges that the mullahs can no longer afford to pay for, well, that would be pretty good.
