You are here: Home / Economics / Oil prices dropping like a rock

Oil prices dropping like a rock

October 22, 2008 By 3 Comments

Oil prices continue on a steep decline. This could help by putting more money back in family budgets by taking less out for gas. To keep up with prices check NYMEX.com

Filed Under: Economics

Comments

  1. Precinct Committeeman says:
    October 22, 2008 at 6:23 pm

    There is poetic justice in the drop of oil prices.

    The increase pushed on the consumer over the past 18 months has heightened the fears of recession and forced spending changes by drivers. While the mortgage debacle claims the headlines in the economic crisis in this country, oil prices were first to start the slide towards recession.

    They are getting what they sowed.

    Reply
  2. SonoranSam says:
    October 23, 2008 at 8:08 am

    Drill Baby Drill!

    Reply
  3. Keeper says:
    October 23, 2008 at 3:05 pm

    This drop will be very short lived. The world still consumes what is extracted, and in-ground inventories are far less than the middle-eastern countries admit.

    However, a silver linning of an Obama administration is that the ineviable depression he will cause will lessen the need for oil as people won’t be able to afford cars or heat their homes. So there’s that.

    Reply

Speak Your Mind

*