Friday, June 27, 2008
Oil and the Stock Market
The stock market was at a two year low of 11,465 when crude oil hit $142 a barrell yesterday. This morning oil is $140.85 so it has dropped a bit. The Saudis tried to get the price lowered recently but none of the other oil cartel members felt that was a good idea and wouldn't go along with it. We need to look at another energy source, that will compete with oil and be green and efficent. Perhaps the way to go would be solar, I don't think electric is the way as we need coal for electricity.