http://www.stuff.co.nz/business/market-data/6722755/Oil-slides-on-world-economy-fears
The world economy continues to struggle as oil closed at a two-month low. In the US, it dropped $1.44 to US$101.02 per barrel, and in London it lost $2.79 in US per barrel. While that happened, natural gas has fallen to a 10 year low. Not only did oil slide, the global stock markets declined with many industrial metals. Another issue in China as they announce that European demand for its manufactured goods is declining. This is another sign of a decline in the world's second largest economy. Many small business owners in the US said they are worried about high fuel prices in the US.
I am also worried about gas prices. I would hate to see them go up to $5.00+ a gallon as I am hearing right now. Travel would cost so much, even just for a short trip. While all this is going on about oil, the US announced just last week they only added 120,000 jobs in March, which is half as much as the previous three months. Continuing to add jobs is only getting tougher and tougher, and at this rate, I think people are losing their jobs more than we are creating them.
This site is a New Zealand based website. I think its like a CNN website, but for New Zealand. It reminds me of a big news station that we would have here in the US. That or a website like Yahoo or AOL.
-Brandon Labath
It is suprising to realize that such a small change in the oil prices can have a big impact on the amount of money we pay at the pump. I think it is important to keep the gas prices as low as we can but sometimes things are just out of our hands. When there is corruption in the middle east, where there are oil sources, that can effect the prices for a time. Also the job market may not be moving as quickly as people would like but at least it is making positive gains and people are able to find work.
ReplyDeleteI find it shocking that the prices can drop that much in as little as two months. Plus the gas prices are already too high for my budget and if they were to go up even more; there would probably be a lot more people walking to work.
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