$48/barrel oil. What do you mean we shouldn’t be happy about that?

Making Cents

by Steve Kautz

“President Bush announced his plan to increase the number of barrels (of oil) produced. You hear his plan? He wants to make smaller barrels.” — Jay Leno, several years ago.

What can $1.50 get you?  It can get you a Slim Jim, something off McDonald’s Dollar Menu, or a Hershey Bar.  It can’t get you a cup of coffee at most places in Portland.   But in some parts of the U.S. it’ll get you a gallon of gas.  Yep, it’s that low in some states.  And we are certainly enjoying prices in the $2.00/gallon range here in Maine.  It’s awesome, right!?  The simple answer is yes, but it’s a good exercise in personal finance and economics to look more carefully.  Yes, there is a downside, and it could significantly outweigh the upside.  READ MORE…