Ladies and Gentlemen, if any stop by to read my lonely, little blog, I present to you the hit of the summer:
The Price Decrease In Oil!
Just in time for an election near you.
The Price Decrease In Oil!
Just in time for an election near you.
Star TribuneThe sharp drop in energy prices since the beginning of the month is turning into a rare bright spot in a bleak economic landscape.
For the moment, at least, fears of a prolonged energy shock seem to have subsided a bit.
Oil has fallen more than $23 a barrel, or 16 percent, since peaking July 3. Gasoline has slipped below $4 a gallon and is dropping fast as Americans drive less. Natural gas prices, which had risen the fastest this year as traders anticipated a hot summer, have shed 33 percent since the beginning of the month.
It will swoop back up after the election. Actually, after the Olympics there will be a bump as the Chinese no longer need to hold down the pollution and will allow people and industry to get roaring again.
With US and Chinese demand down there is a respite, but it will be short lived.