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Are Things Looking Up?

Are Things Looking Up?

The Dow had it's record highest point gain today up almost 940. Although it was up a bit today, Oil prices have been retreating and have been steadily below $90/bbl for several days. And have you noticed the price of gasoline has also been declining? Of course, we all know it's not over yet, but it's good to see some positive signs. Unfortunately, the price of diesel fuel has not come down with trhe price of gasoline, apparently due to supply issues worldwide. And this will keep the price of consumer goods general higher. Seems like[...]
Offshore Drilling Ban – Almost Expired

Offshore Drilling Ban – Almost Expired

The ban on offshore drilling expires tonight at midnight Eastern Time.  At this writing, that’s just five hours away.   Congress was incredibly preoccupied during the weeks following its lengthy vacation, and could not (supposedly) get the work done to extend...

Congress Is Finally Back, Price Of Oil Drops Again

Crude oil dropped to $105/bbl Monday, down $1.26.  After hours the price continued to fall, as of midnight it was hanging around $102/bbl. Since hitting it’s high at 147.27 on July 11 (that’s still less than 2 months ago), the price has fallen almost 30%. ...

Drill, Baby, Drill!

During Rudy Giuliani’s speech at the Republican National Convention tonight, the crowd got so stirred up on the oil drilling issue, they interrupted his speech for a couple of minutes while they chanted (I believe): “Drill, Baby, Drill!” It was...

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...
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