From the Washington Times.
Just coincidentally, prices started dropping after President Bush lifted the oil drilling ban on Monday Jul 14 2008.
Gee, I wonder what would happen if we pass a vote on off shore drilling and ANWR? I guess that can't happen with the new Gang of 10.
"Commodities sell-off could last for months
Stevenson Jacobs, ASSOCIATED PRESS
Saturday, August 9, 2008 " Washington Times - Commodities sell-off could last for months
NEW YORK | The commodities boom that just weeks ago looked unstoppable may have burned itself out.
Sudden plunges in the price of everything from crude to copper and cotton suggest commodities soared too high, too fast — and analysts expect even steeper declines in the months ahead as the U.S. economic slowdown spreads overseas and saps demand for energy, construction supplies and consumer goods.
"Everybody is scrambling to get out of the ship before the guy next to them," said Nathan Golz, a commodities researcher at Wachovia Securities in St. Louis. "It's amazing how fast commodities have become the last place people want to have their money."
Just coincidentally, prices started dropping after President Bush lifted the oil drilling ban on Monday Jul 14 2008.
Gee, I wonder what would happen if we pass a vote on off shore drilling and ANWR? I guess that can't happen with the new Gang of 10.
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