Do you remember when Saddam Hussein was captured, when the space shuttle Columbia disintegrated on re-entry, and when Finding Nemo was the biggest movie of the year? Here’s a hint—it was the last time gas prices were this low. It’s been almost eleven years since we’ve seen gas prices like this at the pump in some states and even though it’s easy to swallow for consumers . . . some investors have a lump in their throat.
Today we interviewed Wes Perry on MoneyWise. Wes is the former mayor of Midland, Texas , and he’s spent a majority of his career in the gas and oil business. Wes is a very close friend and serves on the Compass Texas team.
Several years ago when the price of a barrel of oil was close to $130, I asked Wes if he thought the price of oil would rise to $140 a barrel or sink to $40 a barrel. He answered, “Yes! We’ll probably see both of those prices.”
Wes went on to share with our audience that lower oil and gas prices are all about supply and demand. The world uses about 93 million barrels of oil a day, and its producing 95 million barrels. That 2 million barrel daily surplus is pushing the price down.
It’s estimated that Americans saved close to $14 BILLION at the pump in 2014 and that the average American family will save around $750 this year in gas costs. As Wes reminded us, we should treat this as a gift. So use this gift as an opportunity to get your finances in better shape by giving more, saving more, and by paying off debt as quickly as possible.
Here’s what happening:
Radio: Interviewed Wes Perry on the MoneyWise call in program. Wes is the mayor of Midland, Texas, and an Oil and Gas expert. Wanted our listeners to be able to ask him questions about why gasoline was so high at the pump these days. Loved his answer to the question: “Will oil cost $50 a barrel or $150 a barrel?” His answer, “Yes!” The price of oil is unpredictable and volatile.
FPU: Finished co-leading Dave Ramsey’s Financial Peace University (FPU) 13 week DVD series with a class of 22 young couples at our church. It is really well done, and Dave is an amazingly gifted communicator. I”m convinced that people and churches would benefit most by taking FPU and the Compass Navigating Your Finances God’s Way small group study. The strength of FPU is the practical and the strength of Navigating is the biblical financial emphasis. Both are needed.
Prayer request: Please pray for Compass’ president, Dave Rae, who will be traveling and speaking often in India and Asia. Pray for his safety and health and for the Lord to allow this to be an incredibly fruitful time for him with our outstanding leadership in this part of the world.
Think about it and grow: I read Proverbs 119:58 this morning, and it really convicted me. It says, “I have sought your [the Lord’s] face with all my heart, be gracious to me according to your promises.” I am by nature an “A” personality—a busy, activist type person. Too often I jump in to pray and read my Bible and do my work without being quiet and seeking the face of Christ with all my heart. Let’s be quiet and get to know Jesus better.
Love in Christ,