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COMMENTS: Bursting Bubbles
In the current energy market where fossil fuels are still burned and greenhouse gasses are still emitted, the cost of a barrel of crude oil fell for the third straight day, down from a high of $147 to $129. "Freefall," was the word CNBC's Trish Regan used on NBC. ABC's Betsy Stark (embargoed link) offered the rule of thumb that $1 in the cost of a barrel of crude translates to 2.5c for a gallon of gasoline--so she predicted a 40c drop. "We could start to see relief at the pump within weeks," CBS' Anthony Mason agreed. "We all remember the tech bubble and, of course, the real estate bubble," Regan reminded us. "We may be seeing this bubble ready to burst."
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