I know I posted about this last week. I know that usually transportation is not thought of as saving residential energy. But gasoline is selling for the same price as it was when I was in college. I know that this makes me sound like an old foggey. But this is a serious issue. Gas is selling for $1.88 today.
Oil prices continue to drop after Saudi comments
NEW YORK, Dec 23:
World oil prices yesterday resumed their downward trajectory following comments from key Middle Eastern oil producers that they have no plans to cut output.
US benchmark West Texas Intermediate for delivery in February dropped US$1.87(RM6.53) to US$55.26 a barrel on the New York Mercantile Exchange.
European benchmark Brent oil for February delivery fell US$1.27 to US$60.11 a barrel in London.
Yesterday’s trade marked a return to the dominant downward trend in the oil market following a brief rally Friday.
Appearing at an energy conference in Abu Dhabi Sunday, leading Middle Eastern producers held firm against any moves to cut production to boost crude prices.
“If they (non-OPEC countries) want to cut production they are welcome. We are not going to cut, certainly Saudi Arabia is not going to cut,” Saudi Oil Minister Ali al-Naimi said.
Go there and read. Google it for heaven’s sake. More next week.