It's getting serious now: On Wednesday, West Texas Intermediate futures tested a low of $46.83 a barrel before rebounding.
That's down nearly 57 percent
from the summertime high of $107.68 and pushing toward the depths last
seen during the 2008 financial crisis and recession that followed.
Wholesale gasoline futures tested a low of $1.31 a barrel.
The wipeout in energy prices has been covered on all angles in recent months — including my recent piece
on the negative repercussions for the U.S. economy, corporate earnings,
and energy independence. Now, the focus is increasingly turning to how
bad the damage could get.
No comments:
Post a Comment