Tuesday, July 15, 2008

Oil Sinks Below $139 on Worries About US Economy

One line is very interesting as to why oil is down so much today:

Restored production in Brazil despite a strike and a restarted pipeline in Nigeria also helped pressure crude after the weak dollar earlier had pushed crude prices above $146.

So these two things caused oil down over ten bucks a barrel, but liberals try and tell us that putting millions of barrels in the world market will do nothing.
If congress passed a bill letting drilling start up again gas would immediately be down to 100 bucks a barrel.

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