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Old 01-15-2009, 05:17 AM
PhiGam PhiGam is offline
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Cheap Oil: Be careful what you wish for

http://www.thenation.com/doc/2009012...l=hp_currently

Only yesterday, it seems, we were bemoaning the high price of oil. Under the headline "Oil's Rapid Rise Stirs Talk of $200 a Barrel This Year," the July 7 issue of the Wall Street Journal warned that prices that high would put "extreme strains on large sectors of the US economy." Today, oil, at over $40 a barrel, costs less than one-third what it did in July, and some economists have predicted that it could fall as low as $25 a barrel in 2009.
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