While some people may be too busy freaking out to notice, oil prices have plunged:
Oil prices sank to their lowest level in 13 months on Oct. 10 as worldwide investor uncertainty grew. Light, sweet crude for November delivery fell $8.89 per barrel, or 10%, to settle at $77.70 a barrel on the New York Mercantile Exchange, or Nymex (CME). Oil has lost 47% since hitting a record $147.27 on July 11.
Not that this is all good, of course. I live near Houston, home of the domestic oil industry. Cheap gas is good when it’s time to fill up, but it hurts the local economy. I say let’s have expensive gas again, and too bad for you, ha!
(I haven’t been near a gas station this weekend, but Regular go-juice is reportedly going for around $2.75 a gallon locally.)
brenthawthorne
David Gaw
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