Tuesday, December 11, 2012

Energy Doomed after Fiscal Cliff!

The Fiscal cliff is set to be in place on the 1st of January and it enacts a 600 billion dollar tax hike to us and major spending cuts to our economy.  As our taxes are increased, we most likely to see another reccession for the next quarter of our economic status.  The fiscal cliff will have many effects towards our looming energy crisis that we face today.
   For the past five sessions we have seen a decline in oil prices.  But just recently, we saw a 10 cent raise in the price in gas.  Out of the blue gas prices were 10 cents more and many people are becoming to believe that this sudden spike in the price of gas is the idea of the looming fiscal cliff.  "My prediction is that when an agreement is made by the politicians in the U.S. you will see oil move with the equity markets, most likely in an upward direction," said Matt Grossman.  As the rising gas prices and tax increase, we will see  huge blunder to our economy and our wallets as well.  This could take a tunr for the worse because as the taxes are incresed, there will be a less want for energy which will hurrt major corporatins that help run our econmy, which will thus put us further into our recession. 

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