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U.S. Energy Prices and the Declining Dollar
On the energy front, we’ve seen several days of declining prices. Oil has led the way, falling from about $146 to $126. Coal and natural gas sold down, as well, as did many energy companies and service firms.
So we’ve seen quite a tumble, led by declining oil. But then again, oil had quite a run-up. I’ve said before that oil was climbing too far, too fast. And over the past few weeks, oil tested the $150 mark. But like Gen. Pickett at Gettysburg, this charge to $150 failed.
What seems pretty clear is that at $140, a lot of things in…
25Jul2008 | Energy and Oil | Comments Off | Continued
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