Polcari on the Oil Market: If Elevated, It Will Put Pressure on the Consumer Going into Midterms, They’ll Get Frustrated and Vote with Their Feet

RUSH EXCERPT:
POLCARI: "That is the issue, rick was made is over $4 a gallon and so therefore some of the pressure but would like to expect to see oil come in if gas goes down again below $4 a gallon into the threes were maybe were hoping to go 370 or 380 if oil comes down into the 70s in the high 60s 60s. That would be a benefit for the consumer. As long as essays appear in the 80s, 81, 82, 83 and gasoline stays elevated that’s going to continue to put pressure on the consumer going into the fall and into midterms and you know what that means they’ll get frustrated, they’re exhausted, they’re not happy about it and they will vote with their feet"