U.S. Fuel Costs Drop to Historic Lows, Thanks to Shale Oil Boom — And No Thanks to Obama!

According to the Los Angeles Times, increased U.S. energy production, resulting from the shale boom, is forcing a structural change in U.S. energy markets, that --- along with decreased demand --- could result in a long-term decline in fuel costs.

And keep in mind, consumers and business owners have more disposable income with lower energy costs, which in turn boosts spending in other areas, like recreation and job hiring. (Oh, and of course the federal and state governments would raise much more in tax revenues from higher business earnings and job growth, which would reduce pressure to raise taxes --- but don't expect idiot progs to be touting these benefits any time soon).

In sum, a policy focus on expanding the U.S. energy sector would be a huge boom for Americans across the board. Instead, President "I'll Bankrupt the Coal Industry" Obama is looking to crush the energy sector in favor of a climate change legacy for his administration.

Americans opened their eyes to this abuse on November 4th, and if the Dems don't change their ways, they'll be looking at another ass-kicking in 2016.

In any case, see the Los Angeles Times, "Gasoline prices continue to drop":

How low can gas prices go?

In Southern California — and across the country — prices have been dropping for months, placing extra dollars in consumers' wallets. This week the average price for a gallon of regular hit $3.24 in Los Angeles and Long Beach, the lowest in four years, according to AAA. In Orange County, it was $3.19.

Energy analysts say it may go lower.

"We could see gasoline prices in the high 2s," said Amy Myers Jaffe, executive director of energy and sustainability at UC Davis.

Several factors are likely to get prices there, Jaffe said.

Oil production in the United States — driven by the nation's shale oil boom — is increasing. And on the demand side, the sluggish global economy has sent the price of crude steadily down.

In the U.S., where growth has been stronger, demographics and consumer habits are putting downward pressure on demand, analysts said...

The current decline is partly seasonal...

But the nation's shale oil boom should help drive down prices in 2015 across the state, with average prices potentially falling below $3 once next year's summer driving season ends, Kloza said.

"It's going to be a sloppy year next year for oil," he said. "On balance, crude oil prices should be the lowest they've been in four or five years."

The rise in oil production has been so great that the U.S. Energy Information Administration now predicts average daily production in 2015 will reach the highest level since 1972.

Low fuel prices have been a boon to consumers' pocket books, especially working- and middle-class Americans for whom gas accounts for a significant portion of their paychecks.

When prices were around $4 a gallon, Rita Mena paid as much as $80 to fill her Ford Explorer.

On Friday, at an Arco gas station in Boyle Heights, she shelled out $60.

With the extra money, the 32-year-old said, she can buy more of the things she needs, like groceries or diapers for her 2 1/2-year-old daughter, Leilani.

Then there's the luxuries.

"I want to go out more now," said Mena, who works at a downtown L.A. health clinic. "And maybe I could pick up an extra present or something for Christmas."

PREVIOUSLY: "The Geopolitical Consequences of the Shale Revolution."