Wednesday, July 16, 2008

Oil Prices Drop, Waiting For Things to Get Okay Again Before Spiking

Oil prices dropped $4.50 to $134.24 a barrel today, continuing a slide in prices that started on Tuesday morning. While experts believe that the cause is attributable to increased supply coupled with a slackening demand due to decreased consumption, we at BNN are anticipating that it will shoot up to $200/barrel shortly, just as soon as the fallout from the FannieMae/FreddieMac bail-out passes and Americans start to feel hopeful about the economy.

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