Oil falls below $54

Oil falls below $54

There are 1 comment on the The Associated Press story from Nov 19, 2008, titled Oil falls below $54 . In it, The Associated Press reports that:

Oil prices slipped further Wednesday, dipping below $54 on fears of global economic weakness that have sent crude down more than 60 percent in four months.

But analysts suggested that prices might be bottoming out as they moved closer to the psychologically significant $50 mark.

Light, sweet crude for December delivery was down 60 cents at $53.79 a barrel in electronic trading on the New York Mercantile Exchange by noon in Europe. The contract Tuesday fell 56 cents to settle at $54.39, the lowest since January 2007.

Join the discussion below, or Read more at The Associated Press.


Germantown, TN

#1 Nov 19, 2008
The Democraps were kneejerk opponents of offshore drilling, mostly because they don't like Big Oil (or lower oil prices). I guess the Democraps are really upset that oil prices are getting low enough to bring back prosperity (and more of their scary straw man argument that "global warming" is going to harm America's environment).

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

US Energy Systems Discussions

Title Updated Last By Comments
News Environmentalists Are Dead Wrong Apr 25 Defeat Maxine Waters 1
News The Coffee Price Could Double In The Next 12 Mo... Mar '17 Texxy the Indepen... 1
News Oil prices pose threat to world economy (Jun '08) Jun '15 Raj Chanani 3
News Movies opening this weekend - May 29 (May '15) May '15 May 29 2015 event... 1
News Oil Below $60 Tests U.S. Drive for Energy Indep... (Jan '15) Feb '15 going down 4
News For Saudis, Falling Oil Demand Is More Worrying... (Jan '15) Jan '15 jeffry 1
News Natural Gas Futures Rebound From Six-Week Low o... (Dec '14) Jan '15 Mike g Papa 3
More from around the web