16 December 2008

Gas

Gas prices have finally taken a down turn. After hitting a record high this summer we are now dropping to record lows. But for how long will it stay low? The cost of a barrel has dropped in price dramatically just since the summer. With our ever fragile economy nobody can predict what will happen. As soon as the demand is up again and countries are more stable, prices will surely rise again. How high this time? In the 1970's gas shortage was one of the first events to have an impact on the economic crisis. Now gas prices decreasing is a result of the economic crisis. With the barrel raising in price again (a bit more gradual this time) will there be a shortage? Will it be similar to times in the 70's when one could only buy a certain ration of gas at a time?
http://www.nytimes.com/2008/12/16/business/16oil.html?_r=1&ref=todayspaper

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