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When Oil Fell and We All Got Rich
One of the unexpected benefits of a $90-a-barrel drop in the price of crude oil is a transport sector that has far less to pay for keeping things moving. Now, of course, that savings is predicated on the assumption that there’s actually something out there to move – that manufacturers are still making things, and consumers are still buying. These days, none of that can be taken for granted. Consumer spending recently turned into a pumpkin
and went home (see chart, above). And as for shipping, the dye has also been cast. A look at the venerable Baltic Dry Index tells a…
19Nov2008 | Oxbury Research | Comments Off | Continued
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