Crude Oil’s down another $5 per barrel so far today, which puts it about $32 below the high set last month. How low will it go?
Take a look at the chart of the five-year history of the U.S. Dollar’s relationship with the Euro: Back in August 2003, one U.S. Dollar purchased .9184 Euros. As of last Thursday, one U.S. Dollar only purchased .637 Euros, a decline of 30.64%! To put it in perspective, imagine you are going to take a [...]
I read a very interesting opinion piece in the Wall Street Journal titled, We Can Lower Oil Prices Now. The author of the editorial is Martin Feldstein, who was chairman of the Council of Economic Advisers under President Reagan and is a professor at Harvard and a member of The Wall Street Journal’s board of [...]
OPEC’s starting to tick me off. First they say they are ‘unhappy’ about high oil prices. Then, Bloomberg.com reported recently that OPEC’s President is predicting oil to go to $170 per barrel by the end of the year: OPEC President Chakib Khelil predicted that the price of oil will climb to $170 a barrel before [...]
I’m getting sick of talking about oil. Why? Because NOT ENOUGH is being done. Oh sure, congress dragged in the oil executives and berated them over high fuel prices and threatened to slap them with windfall profit taxes (what the heck is that supposed to accomplish?). It was a great PR stunt to make it [...]
Have no fear, this isn’t becoming an oil blog. I promise! It’s just that I tend to think about certain subjects for days at a time and one thought leads to another and before you know it, I’ve blogged about the same thing for several days in a row. This week’s Barron’s had an interesting [...]
Gas stations will be all over this: Just imagine what will happen if a hurricane enters the Gulf. UPDATE: I just got back from running some errands. Sure enough, the gas station I passed had raised their price to $3.89. They never dropped the price when oil fell earlier this week to $122 a barrel. [...]
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