Dr. Ron Caskey - PhD, ThD
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Gas Is Cheap


November 30th, 2015 08:55 AM

Why Gas Is So Cheap Right Now

Have you noticed the cheap gas prices lately? I was curious today and found some interesting stats to help outline why the price is so low.

The current average price in Denver right now is just $1.85 per gallon but I have seen it in the low $1.70’s in many places. This is due to the flooding of Saudi oil on the market.

Over the past few years, the Saudi’s are selling oil at a loss to try and force US oil producers (Fracking Industry Mostly) out of business.

Check out this information I found at Baker-Hughes. Well over 50% of the oil rigs across the US have already come down in the past year. Same situation in Canada.

 

 US and Canada Oil Rig Count

 

Click Here To See Baker Hughes Summary!

OPEC meets this week and Iran is putting pressure on Saudi Arabia to increase its oil prices. This makes sense because Iran has all kinds of oil that has been flooding the market ever since the recent nuclear agreements. But we could very well see the Saudi’s continue forward with their production and plan the bring down US Oil producers.

 

Low gas prices really can be a huge help to consumers. On the other hand, others are losing jobs (especially here in Colorado), energy stocks still haven’t recovered from their declines, and Obama is using global warming as an excuse for terrorism.

I think there is a high probability that gas prices could continue to get lower. What do you think?



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About Dr. Ron Caskey

Dr. Caskey has over 30 years experience as a trusted financial professional. Over the past three decades, he has helped scores of valued clients create, protect, and distribute wealth in an effort to greatly enhance their overall quality of life. He lives with his wife Jeannine in Firestone, Colorado. They have raised 5 kids and have 11 grandkids.

Dr. Caskey's top priorty is working with you to both learn about your particular situation and to make sure you are fully educated so that together we can find the solutions that work best for your particular situation.

*Disclaimer* - *Guarantees are backed by the financial strength and claims-paying ability of the issuing company. Bonus annuities may include higher surrender charges, longer surrender periods, lower caps, higher spreads, or other restrictions that are not included in similar annuities that don’t offer a bonus. By responding you may be contacted by an insurance agent. Annuities are designed to meet long-term needs for retirement income. They provide guarantees against the loss of principal and credited interest, and the reassurance of a death benefit for beneficiaries. This website and its contents, downloads, videos and audio files are designed to provide general information on the subjects covered and is provided to you for informational purposes only. Pursuant to IRS Circular 230, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Ron Caskey does not give legal or tax advice. Please consult your tax advisor or attorney. Ron Caskey is a registered and licensed insurance agent resident in the state of Colorado, non resident in multiple other states. This website focuses on insurance products in an attempt to avoid volatility. The term "Safe Money" should not be understood as signifying a guarantee or a guaranteed investment.*
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I am not, nor have I ever been, nor do I ever want to be a “Financial Planner, Investment Adviser, Certified Financial Planner”. As a result, I do not provide investment advice, nor do I sell securities. Therefore, I have NEVER, nor will I EVER recommend, suggest, or imply to anyone that they should sell a security or move a security into an Indexed Annuity. I only provide my clients choices in Life Insurance Company Products and explain to customers how the products work. After they get the information, it is my client’s choice, not mine, whether to buy an Insurance Product and what assets to use to do so.**
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