Saturday, January 06, 2007

 

More oil company shenanigans

Today is January 6th – here’s a slice of news from the first five days of the New Year:

Crude prices plunged almost 9 percent on Wednesday and Thursday, before stabilizing on Friday. They finished the week at $56.31 a barrel on the New York Mercantile Exchange, down 7.8 percent since the start of the year.”

Now, unless you plowed all your savings into crude oil on Tuesday, most of us would probably consider that good news. But leave it to our good friends at the Washington Post to see the cloud in the silver lining:

“So far, the benefits of falling crude oil prices haven't trickled down to consumers.” Lower Oil Prices Slow in Reaching Pump - washingtonpost.com

Elsewhere, in news you may have missed, Standard Newsprint has dropped nearly $10 since the end of October. (Newsprint Prices by Grade per ton). However, so far, the benefits of falling newsprint prices haven't trickled down to consumers.

Comments:
The price of newsprint and ink are the least of the papers' problems. I'd wonder more about the falling price of labor not being passed along to consumers since they seem to like laying off a LOT of people.

I'm all but certain labor is their biggest expense.
 
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