As nice as the lower gasoline prices are, they will mandate a price surge in our future because of cutbacks in oil exploration and development. In the future cutbacks in drilling will cause a lag in developed projects as global oil consumption rises.
As far as the U.S. is concerned, it is possible that lower gasoline usage because of better mileage in cars and decreases in automobile travel usage could counteract the decrease in coming oil production; however, it seems like people are suffering from recidivism and buying gasoline guzzling SUV's again. So it seems likely that a surge in gasoline prices will be in our future.
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