Democrat From Kentucky


Democrat from Kentucky
We promote fair and honest political discussion from all sides of the ideological spectrum While my own opinions and my contributors tend toward a more progressive view, that's not always the case. I ask people to comment freely and openly to promote fair discourse.
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Administration Questioning Doerting's Credibility
OIl Prices Continue to Rise
Ky Kurmudgeon Calls It Right
Bush's Presidential Library
The Big Easy Havin' A Hard Time...
Good Commentary On Kentucky
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State Democratic Website
Fletcher Loyalist Dissappointed In Fletcher
Ann Coulter: The Proverbial Female Dog

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Oil Update: $70 A Barrel Sunday, August 28, 2005

This late night post comes after Monday trades in foreign markets climbed to $70 a barrel based on oil rigs and refineries shutting down from the hurricane. Expect it to go higher this week, depending on the extent of the damage to operations. Reuters ran the full story.

It doesn't look pleasant folks. Dr. Pete Morici, an nationally known economist at the University of Maryland's Smith School of Business suggested last week that a major economic slow down would hit if either oil hit $80 a barrel or mortgage rates went up beyond 7%. I would say the $80 a barrel isn't that far off.


posted by Stithmeister @ 11:49 PM
 
1 Comments:

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At 1:53 AM, Blogger Cynicus said...
With job hunting lately, i'm completely tapped for cash and resources - just in time for a huge economic blow-out.

If i could afford tomorrow's $3.10/gal gas, i'd pull what cash i could from the bank, drive up to Cincinnatti Airport, and change it all to Euros.
 

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Location: Harrodsburg, Kentucky, United States

I'm currently working in the telecomm industry but one of my passions is still politics.



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