Archive for May 29th, 2008

As gas begins to look more like liquid gold, more motorists are keeping it under lock and key, fueling sales for locking gas caps, according to retailers and manufacturers.

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When Goldman Sachs analysts suggested last week that oil could hit $200 a barrel, I expected someone somewhere to express horror at the possibility. But the reaction was a tiny, resignation-filled sigh. Relentless fuel-price increases have so exhausted consumers that we don't have the energy to be outraged anymore. So we feel helpless as we watch oil sprint past the $130 mark on its way to price-prohibitive territory and wonder whether it's too late to bring back the horse and buggy. Our sense of helplessness is an illusion: There are things we can do. We got ourselves into this mess, mostly through multiple administrations of politically comfortable but shortsighted decision-making. And inasmuch as we're willing to stand a little political discomfort, we can get ourselves out.

The mortgage meltdown and credit crunch continued to take their toll on the battered financial industry in the first quarter, according to a government report on the banking sector released Thursday.

Stocks rallied Thursday afternoon as oil prices tumbled 3%, the dollar surged and investors breathed a sigh of relief that first-quarter GDP growth was not quite as tepid as had been initially reported.

Oil prices resumed a sharp descent Wednesday that had been interrupted by a government report showing big, surprising declines in supplies of crude and gasoline last week.

I moved, and I no longer get reception. But my service provider won't let me out of my contract without a $150 breakup fee.

Rates on 30-year mortgages were pushed up this week above 6 percent amid growing concerns about inflation, mortgage backer Freddie Mac said Thursday.

Oil prices resumed a sharp descent Wednesday that had been interrupted by a government report showing big, surprising declines in supplies of crude and gasoline last week.