Saturday, August 09, 2008
The Price of Oil
Here's an article about the recent run up in the price of oil.
It certainly sounds plausible.
Let's hope the headline turns out to be true...
It certainly sounds plausible.
Let's hope the headline turns out to be true...
Martin Vander Weyer writes in the U.K. TelegraphT:
"Actually the price of a barrel of crude has been falling: from a peak of $145 in early July, it came down to $117 and was trading yesterday at $120. That's almost a 20 per cent drop in little more than three weeks.
If the trend continues into September at anything like the same rate of descent, most of the inflationary spike of the past 12 months will miraculously have been sliced away."
