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Even as the extreme shock to the nation's economy from last month's bubble in the commodity price of crude oil is starting to wear off, oil's place on the news agenda remains strong. ABC launched a series called Oil Crunch by sending David Muir to the Gulf of Mexico to offer striking visuals and free publicity to Chevron. The Big Oil firm's floating platform 190 miles south of New Orleans is completing its $4.7bn exploration of a field discovered six years ago 28,000 feet below sea level. It is gearing up to pump 30,000 barrels of crude each day. On CBS, Armen Keteyian traveled to New England, where half the homes use oil for heat each winter. Prices have increased so much since last winter that carrying costs have already driven 15 supply firms out of business. Customers who prepaid for oil with those bankrupt firms are doubly screwed: they not only lost their deposits but will have to pay 60% more than last year to a solvent supplier.
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