hopperbach


Are you smiling or is it just gas?

The petro plummet continues:

NEW YORK — Oil prices tumbled below $130 a barrel for the first time in more than a month Thursday, as crude’s dramatic slide entered a third day accompanied by a sharp sell-off in natural gas.

So this sharp decline should be good news for consumers right? Not if you are the AP:

The declines accelerated amid growing concerns that the weakening economy and creeping inflation are eroding demand for fossil fuels in the U.S. and other large energy-consuming nations.

Just so that we understand the situation in MSMspeak: the sudden 10% drop in oil prices since Monday is not to be seen as a sign of hope. It’s to be seen as yet another sign that our economy is in the tank.

To further break it down:

  • Oil up  = proof of weak economy
  • Oil down  = proof of weak economy

Simple as that. Now turn that smile upside down and be on your unmerry way…

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