Here in the next few months we may see another deep drop in the price of oil.  Bloomberg has pointed out in this article that the U. S. is probably running out of space to store oil.  While the article also points out that it’s difficult to be sure exactly how much storage the U. S. has, the simple fact that the known capacity will be filled or close to filled in a few months should be enough to drive prices down.  It will also influence oil companies to reduce the amount of drilling and encourage oil companies to shut in wells.  Pretty much everything is going to slow down.

That’s all going to happen if that’s actually the case.  You can never predict what’s going to happen in oil and gas.  If I were a betting man, though, I’d bet on cheap road trips this summer.