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Yes, as a Houstonian, I am hoping that oil prices stabilize.
I wrote in the gasoline prices thread that the low prices we were seeing were harbingers of doom! The reason they are low is because the rest of the economy is so dismal that demand for plastics, petrochemicals, heating oil, and gasoline are down.
Chemical companies are filing for bankruptcy, refineries are laying people off and delaying plans for expansion, which is going to be a problem in the future.
When the economy comes back around, which it will, oil prices will likely sky rocket because exploration, production and refining are taking a major hit right now.
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