Thursday, July 03, 2008

Oil: Why We're in Trouble

Today we are in the same position we were in 1980, except there are no major fields left to be brought on-line.

clipped from uk.reuters.com

Dow's bear market run spells trouble for Wall St.

By Ellis Mnyandu
NEW YORK (Reuters) - With the Dow sliding into a bear

market on Wednesday, the dark days on Wall Street are far from
over, amid record oil prices, struggling consumers and the
never-ending credit crisis.

With the Dow sliding into a bear market on Wednesday, the dark days on Wall Street are far from over, amid record oil prices, struggling consumers and the never-ending credit crisis. (Graphics/Reuters)

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