[Marxism] Notes on the current crisis of capitalism
S. Artesian
sartesian at earthlink.net
Thu Oct 16 16:41:21 MDT 2008
NEW YORK (CNNMoney.com) -- The price of oil fell Thursday, shedding more
than half its value since the summer's highs, after a government supply
report signaled weak demand for petroleum products.
Light, sweet crude for November delivery fell $4.69 to $69.85 a barrel on
the New York Mercantile Exchange. Oil is now down 52% from July's all-time
high above $147 a barrel.
Thursday's closing price was the lowest since Aug. 23, 2007 when oil settled
at $69.83 a barrel.
_________
Prediction: Within 3 months, oil will be below $40 a barrel and headed back
to the 2002 level of $20.
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