The AP reports:
Oil prices tumbled below $67 a barrel to 16-month lows Wednesday after the government reported big increases in U.S. fuel supplies -- more evidence that the economic downturn is drying up energy demand.The rest of the AP’s story’s here.
Today in North Carolina I paid only $2.83 a gallon for Regular.
Just a few months ago Regular here cost about $4.00 a gallon.
I’ll bet you’re "feeling the effects" of the oil price tumbles, too.
But although the AP’s lengthy story includes many details, nowhere does it say falling gas prices and home heating costs along with other energy coast savings will leave more money in consumers' pockets for them to spend as they wish.
In fact, Sen. Obama's AP doesn’t mention a single benefit to consumers of falling energy prices.
But's that's about what you’d expect this time of year from an Obama organization like the AP.
If a similar dramatic drop in energy prices occurs next year and Obama is president, you can be sure his AP will huff and puff about consumer benefits.