The NYMEX May 2006 crude futures contract closed today above $71.
Category Archives: Rita
Oil prices coming down
Oil prices have been coming down significantly this week. Is that good economic news?
HR 3893
Having discovered that this summer’s behemoth energy bill in fact did nothing to help with the problems uncovered by Hurricanes Katrina and Rita, Congress is ready to try again with HR 3893, which was reported out of committee last week. This one actually has some good ideas in it.
Responding to supply shocks
It seems pretty clear to me that a monetary contraction isn’t the appropriate policy response to a supply shock. Apparently there are those within the Federal Reserve who see things differently.
Economic effects of Rita
A lot of people are bracing for huge effects of the latest Gulf storm on energy markets. I see reasons for hoping things won’t be that bad.
Consumer confidence plunges
Yet another key leading indicator turns gloomy. How much can the stock market and the Fed shrug off?