Monday, March 2, 2009

Oil Prices Drop Due To Economic Pessimism

Oil fell more than $2 a barrel to below $43 today, as a deteriorating world economy threatened to cut further into fuel consumption and make OPEC's tight compliance with supply curbs look insufficient. 

Economic woes were also battering financial markets and making it likely the IMF would downgrade its global growth forecasts into negative territory.

Meanwhile, the price per gallon of gas at the pump has remained steady.  I thought having Obama in office would "show" those evil oil companies.  I guess I was wrong.  On the other hand, it's only been a couple of months.  I'm sure by the end of the year, they will be firmly under government control.


About This Blog

This blog is about my opinions and world view.  I am a conservative, evangelical Christian.  Generally speaking, if you post a comment, I'll allow you to express your view.  However, if you say something hateful, untruthful, or just generally something I don't like, I may remove it.

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