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Oil Plunges over 12%
On Wednesday, the contract tumbled $5.95 to settle at $42.63 after the Energy Information Administration said that inventories of commercial crude oil inventories rose 6.7 million barrels. That was well above the 1.5 million-barrel build expected by analysts surveyed by Platts, the energy information arm of McGraw-Hill Cos.
Obviously, with all the lay-offs, job losses, and [...]
Government is the Cause of Problems
The Department of Energy was instituted 08-04-1977 In order to LESSEN our dependence on foreign oil.
And now it’s 2009, over 31 years later, and the budget for this necessary department is at $24.2 billion a year, they have 16,000 federal employees, and approximately 100,000 contract employees and look at the job they have done! [...]
Are Plunging Oil Prices Good News or Bad News?
Oil prices have decreased daily over the past month, down by about 25%. I recently came across a “news” article by Henry Blodget that claims that the lower oil prices are bad news for our economy:
An important catalyst for the recent stock rally has been a sharp decline in the price of oil: Outrageous [...]
