Daily Ramblings Log

December 9, 2008

Oil Declines

Filed under: consumption — Olivia @ 10:21 pm
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Oil prices fell nearly 4 percent on Tuesday after the government forecast the world economic slowdown would shrink global oil consumption this year for the first time since the early 1980s.

Crude oil in New York trading fell $1.64, or 3.7 percent, to settle at $42.07 a barrel.

The Energy Information Administration said in its monthly energy outlook that it expected global oil demand to fall by 50,000 barrels a day in 2008 and 450,000 barrels a day in 2009 — marking the first time since 1983 that year-to-year world oil demand has dropped.

The lower forecast came as the agency revised its 2009 world growth estimate for gross domestic product to 0.5 percent, down from last month’s estimate of 1.8 percent. The agency estimates 2008 G.D.P. growth will end up at 2.7 percent.


June 4, 2008

George Green The Big Picture-An economic forecast for coming times

WHAT IS GOING ON WITH THE HOUSING MARKET, THE PRICE OF DOLLAR & GOLD, THE COMING FINANCIAL SITUATION, & THE SOLUTIONS? A “MUST READ” book for understanding how the economic fraud really affects you and what you can do about it.

April 22, 2008

Oil Soars at $120

Gas and oil prices pushed further into record high, with retail gas reaching an average of $3.51 for the first time and crude nearing $120 as the dollar fell to a new low against the euro.
The price board of a Chevron gas station is shown in San Francisco, Monday, April 21, 2008. Rising gasoline prices tightened the squeeze on drivers Monday, jumping to an average $3.50 a gallon at filling stations across the country.
More PhotosAt the pump, the national average price of a gallon of regular gas rose 0.8 cent Tuesday to $3.511, according to a survey of stations by AAA and the Oil Price Information Service. Prices for diesel — used to transport most food, industrial and commercial goods — also rose overnight to a new record of $4.204 a gallon.

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