... that oil prices are plunging, as if it is a bad thing?
NEW YORK (CNNMoney.com) -- Oil prices plunged to a 13-month low Friday, following steep stock market declines, as investors worried that the weakening global economy was driving down demand for fuel worldwide.
When and if oil returns to $50-70 a barrel, it is not plunging as in a bad thing, they should be reporting that oil is "returning to levels of normalcy." I could even tolerate $65 a barrel if it produced greater oil exploration.
The way they report it is as if it is bad thing - and it is not.
Same goes for the rise in the US dollar. It is a bad thing for much of the world who bought our debt cheap, and now we can repay with cheaper money, but it is not a terrible thing. Canada was actually losing money when it sold oil to us, even at a higher barrel cost, due to the exchange with the dollar.
The question though - the price of crude is at a 13 month low, so shouldn't gas prices be where they were 13 months ago?
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