Tuesday, September 09, 2008
Oil gets cheaper
Notwithstanding hurricanes in the Gulf of Mexico, oil is again down $2 to around $104 per barrel this morning. I have not been paying close attention in the last week -- there is more interesting news -- but a trader just said on CNBC that if oil closes down today it will mark the eighth consecutive day of decline. Meanwhile, Euro is worth only $1.41 this morning, down dramatically from its peak against our currency in July. It's all good, as far as I am concerned.
2 Comments:
By 
, at
Tue Sep 09, 10:31:00 AM:
It's all good, but the political impact (and everything is political right now) is unclear. Lower energy costs have to be put into some sort of context for the voters, and the ground seized for political advantage.
Mark Penn has it right, in my opinion: the candidate who can best explain the road to economic recovery wins. Barring the terror issue reasserting itself, Americans want an economic plan. Putting the Feldstein/Taylor plan into everyday language and selling it to the voters is McCain's best hope, along with putting Palin's energy credentials front and center. Obama has the "mindshare" lead right now on the economy, since he's talking about it every day, and I think he wins the election with his relentless focus on it, unless McCain can adapt.
By , at
Sat Sep 13, 06:08:00 AM:
Make oil even cheaper by opening up the ANWR and start drilling off the coast and tell GREENPEACE to GO TAKE A FLYING LEAP INTO THE GRAND CANYON
