Although Oil Prices Have Declined, the Energy Sector Remains a Global Investing Wild Card
William Patalon (August 17th, 2008) Writes:
By William Patalon III
Executive Editor
Money Morning/The Money Map Report
Although consumers and businesses have gotten a bit of a reprieve at the gas pump as of late, the escalation in oil prices we’ve seen over the past year has led to some major changes in overall consumer behavior. Many car-owners have dumped their gas-guzzling pickup trucks and SUVs at the nearest used-car lot and used the proceeds to buy some gas-sipping rides. Companies with large distribution networks have redesigned their shipping schedules, crafting more efficient routes that accommodated larger truckloads.
The upshot: Gasoline sales tumbled during the first half of the year as domestic demand fell to its lowest level in five years. In fact, the U.S. Department of Transportation reported that Americans drove almost 5% less in June than a year ago, and also said that the buses, subways ...
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Abercrombie & Fitch, Alan Greenspan, America, AnnTaylor Stores Corp., average gas prices, bank of america corp, Banking, Bantam Dell Publishing Group, Ben S, Ben S. Bernanke, Berkshire Hathaway Inc, bush administration, car-owners, cents, China, Cisco Systems Inc, Citigroup Inc, Crude Oil Prices, Dow 30, Dow Jones, energy, energy components, Energy Prices, energy traders, energy-price conundrum, European Central Bank, European Union, Fannie Mae, fed-funds, Federal Reserve System, Food Services, Freddie Mac, gas pump, gas-guzzling pickup trucks, gas-sipping rides, Georgia, gulf of mexico, India, Investment Banking, J.C. Penney Co. Inc., JP Morgan Chase, JP-Morgan, large distribution networks, light-rail systems, Limited Brands Inc, lower gas prices, Macy's Inc., Market Commentary, Merrill Lynch & Co. Inc., nearest used-car lot, negative retail trend, Oil, Oil Imports, oil platforms, Oil Prices, Olympic, Olympic Games, public/mass-transit systems, Retail Sales, Russell 2000, Russia, Sp 500, Stores Inc., Sysco, the Business, The Gap Inc., The Home Depot Inc., U.S. Department of Transportation, Ubs Ag, United States, Us Federal Reserve, USD, volatile food, Wal Mart, Warren Buffett, William Patalon III


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