by falling crude oil prices. As stockpiles of the black gold increase due to falling demand, among other market forces, the price dropped below $33/barrel this morning, down from the record high of ~$140/barrel during summer 2008. Interestingly, oil is significantly less expensive than bottled water right now!
Given this dire economic circumstance, perhaps the major oil companies will need a bailout from the federal government?
Tuesday, January 20, 2009
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment