Dear Clients, Prospects & Friends:
The economic news that everybody is talking about lately is the sudden unexpected drop in oil prices. One type of oil, West Texas Intermediate crude, has fallen from over $140 a barrel in the summer of 2008, and $115 a barrel as recently as June, down to $91, and there is no sign that the decline will stop there.
The price drop seems to be the result of a perfect storm of factors, both on the supply and demand side. On the supply side, U.S. production has risen to the point where only Saudi Arabia …Read More