Price of the pump: How $2-a-gallon Gas May Impact Environment (and economy)

Doug McIntyre discusses the potential for oil prices to drop significantly, which could push gasoline down to under $2 dollars per gallon. Wall Street’s technical traders, who focus on price patterns rather than supply and demand, observe crude oil trading between $82 and $68, with a possible fall to $60 if tensions in the Middle East do not escalate. This decrease would benefit the U.S. economy by reducing fuel costs but could increase environmental harm due to higher fossil fuel consumption. McIntyre suggests that steady oil prices at around $75 could help balance economic and environmental concerns.