Thursday, June 4, 2009

How far Will Oil Go Now?

After a dreadful time of having oil over $100 a barrel for a seemingly endless epoch, oil prices fell precipitously following multitudes of bank failures amid a foreclosure-laden housing market. Now that storm has settled and the stock market is on the, America's favorite commodity is trending upward. 

Where will it go? No one really knows, but Goldman Sachs predicts that oil will continue to rise in the long run. My only hope is that Obama's ambitious green energy plans and increased efficiency ensure that we stay out of a recession (for some time) with any price of oil. 

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