Current low gasoline prices may soon be the norm, according to investor and economist Dennis Gartman. Whether commuting to work or paying for fuel related to livestock production, lower fuel prices eases the challenges of paying for animal care.
Source: Agriculture.com, February 8, 2016.
Two years ago crude oil stayed consistently around $110 per barrel. Last year prices dropped significantly to $50 to $60 per barrel. Now crude oil is hovering around $30. According to seasoned investor and economist Dennis Gartman, this is not the bottom of the market. This is the new normal. “In my lifetime, we will not see $40 crude oil again for longer than a week,” he says. “If oil does get above that threshold, it will be because of some geopolitical risk that occurred in a very short time.”
INSIGHTS – It will take work to ensure these energy savings get transferred to preventative care and increasing the lifetime value of an animal. Reps will find value in helping veterinary teams, dealers and retailers see that animal owners are not as burdened by fuel and energy costs.