Price Of Oil Not So Crude

After dropping $10/bbl during the day, the price of crude settled down $5 after fears of interruptions in production from Gustav failed to materialize

It really stinks when people are disappointed that nothing bad happens.

That said, it appears we’ve dodged the bullet on the hurricane, although we cannot forget the loss of life and property that has occured.

But it is great news that oil production continues untwarted by the weather, and that the price of oil can continue falling.

When the price as down to about $105 (we closed around $110), at that point the price had lost all it had gained since the beginning of the year.

All that without actually pumping any of that oil out of ANWR or any new off-shore drilling.  All that just from the emotions and reactions to decisions and events and pressure from Americans growing stronger and stronger.

Don’t stop.  Keep fussing.  Contact your congresspeople.  Make a difference!

Drill here.  Drill now.  Pay less.

About the Author

Mr. Smith is the Publisher of The Conservative Reader. He is Partner/Owner of Ambrosia Web Technology as well as a Systems Architect for Wells Fargo. Art hold a degree in Computer Science from Drake University in Des Moines, Iowa, and is a political blogger at the Des Moines Register. Art's views are purely his own and do not necessarily reflect the views of Wells Fargo.

 

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