Tuesday, December 23, 2008

The Oil Curse


From UPI:

LONDON, Dec. 22 (UPI) -- Those who live by the price of oil shall suffer by the price of oil. As this grim year for the global economy draws to a close, the reversals of fortune for the oil-exporting states have been dramatic and almost as bruising for their customers.

Last Thursday this reporter was invited to attend a conversation with outgoing U.S. President George W. Bush, arranged by the American Enterprise Institute, and one of the more striking things he told us was that the decline in the price of oil was the equivalent of a stimulus package of $2,000 for every American family.

Read more
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More News On Oil And OPEC

More declines for oil on latest batch of bad news -- Yahoo News/AP
Demand Worries Persist in Oil Market -- Wall Street Journal
More declines for oil on latest batch of bad news -- AP
Russia hosts gas group, faces OPEC ire over oil -- Reuters
Oil falls below $39 on economic gloom -- Yahoo News/Reuters
Oil below $38 per barrel on weak economic reports -- Yahoo News/AP
Crude oil retreats on gloomy economic data -- China View
OPEC may call extra talks if oil falls-Khelil -- The Guardian
OPEC Might Meet Again Before March, Venezuela Says -- Bloomberg

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