Whoops:
Oil rallies to record $110 as dollar plumbs new low
Oil pierced $110 a barrel on Wednesday, marking the sixth straight day of record highs, as the dollar sank to new lows and outweighed large increases in U.S. crude inventories.
In unrelated news:
Can this be true?
According to Sam Stein:
At a recent meeting with the Wall Street Journal editorial board, Republican presidential candidate John McCain admitted he “doesn’t really understand economics” and then pointed to his adviser and former Senate colleague, Phil Gramm - whom he had brought with him to the meeting - as the expert he turns to on the subject, The Huffington Post has learned.
Oh boy.
Yeah, I can see that working out real well.
1 comment:
Meanwhile "Iraq is not spending much of its own money, despite soaring oil revenues that are pushing the country toward a massive budget surplus, U.S. auditors told Congress on Tuesday.
The expected surplus comes as the U.S. continues to invest billions of dollars in rebuilding Iraq and faces a financial squeeze domestically because of record oil price"
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