Refineries and rigs come back online to decrease energy prices

Oil and gasoline prices are starting to decline slightly as more of the capacity knocked out by Katrina comes back online. Regardless, I hesitate to call oil “cheap” at over $66/barrel, which still has a lot of potential to affect economic growth in upcoming months. With consumer spending falling negative for only the second time ever, one has to ask how this will affect the automotive market as a whole before delving too far into the question of how gas prices will affect each segment of the market.

By eric@bryantperformance.com
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Oil and gasoline prices are starting to decline slightly as more of the capacity knocked out by Katrina comes back
online. Regardless, I hesitate to call oil “cheap” at over $66/barrel, which still has a lot of potential to
affect economic growth in
upcoming months. With consumer spending falling negative for only the second time ever, one has to ask how this will
affect the automotive market as a whole before delving too far into the question of
how gas prices will affect each segment
of the market.