As harsh economic times smother world economic activity
Iraq and Lybian Oil production soars, and therefore Gasoline/Diesel production soars driving prices sharply lower. See below from NYTIMES -------------------------
"BAGHDAD — Despite sectarian bombings and political gridlock, Iraq’s crude oil production is soaring, providing a singular bright spot for the nation’s future and relief for global oil markets as the West tightens sanctions on Iranian exports.
The increased flow and vital port improvements have produced a 20 percent jump in exports this year to nearly 2.5 million barrels of oil a day, making Iraq one of the premier producers in OPEC for the first time in decades.
Energy analysts say that the Iraqi boom — coupled with increased production in Saudi Arabia and the near total recovery of Libya’s oil industry — should cushion oil markets from price spikes and give the international community additional leverage over Iran when new sanctions take effect in July.
When a company makes the decision to purchase a truck...the decision includes long term aspects because a truck is a long term investment. The price of diesel will fluctuate during the life of the purchase. By now people KNOW that oil and petroleum based fuels will only go up in the long term. Nat gas is more stable and not effected by weather, geo political or manipulation. This will be a major factor which way a company invests its money. In the long run companies will turn to Nat gas even with you trying to scare investors that Nat gas will never get off the ground. Professor ...you are so transparent.