As a consumer of gasoline with a daily driver that only gets about 12 miles/gallon, I'm loving this!
I understand that the low price-per-barrel is financially painful for oil companies, both domestic and foreign. I also understand that fracking technology has had a significant impact on lowering the costs of domestic oil production - a very good thing that is helping to free the USA from the stranglehold that OPEC has had on the world energy markets in past decades. While the very real disputes currently happening between Saudi Arabia and Iran have the potential to result in a halt to oil tankers passing through the Straits of Hormuz, the impact of such an action would have much less of an impact on domestic energy prices than they would have 40 years ago...much less!
I've also recently read that Øbama wants to sell off a significant portion of the USA strategic oil reserves. Buy high and sell low would be a pretty stupid move, but liberal economic policies never have made much sense...
