Thursday, March 19, 2009

Oil Passes $50 Mark for First Time Since January

The price of oil may have fallen below $50 per barrel by the time you read this, so we captured the graph at the $51.36 mark. (And maybe it'll be higher; one dollar's value vs. one euro has already fallen 7 cents today.)

We can’t fail to note the unmistakable upward trend in the price of oil beyond $50/barrel. It may be no more than just another unpredictable (for the average person) economic event, but in a state that relies on oil to deliver electricity, food, clothing and tourists, the upward price creep will soon affect everything we buy -- if it hasn't already.

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