[lbo-talk] WSJ: Rapid Plunge in Price of Oil

[Yoshie Furuhashi]

"Crude oil plunged another $2.14 a barrel, or 4% yesterday to $51.88
on the New York Mercantile Exchange," -- down 15% since the beginning
of the year and down 33% from the record high of $77.03 14 July 2006,
says the WSJ (Mark Whitehouse, Ann Davis, Melanie Trottman, and Mike
Spector, "Rapid Plunge in Price of Oil May Fuel Growth," 12 January
2007).  That, along with last year's elections in Iran, this year's
proxy war in Somalia, and the civil war in Palestine in which Tel Aviv
and Washington are taking the side of Fatah, encourages the POTUS, who
believes that "we are not winning, we are not losing," in its overall
Middle East campaign if not in the Iraq War.
-- 
Yoshie
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