Posted by David Sherman on Sunday, September 24, 2006 at 11:24PM :
In Reply to: Re: Gas prices falling posted by Bruce B (in ND) on Sunday, September 24, 2006 at 10:43PM :
Good crude oil has dropped from $72 to $55 per barrel within the past few months. That's almost exactly the same ratio as the price of gas has dropped. No conspiracy required, and no election-year politics required, unless you believe that the US midterm elections can affect the price of a gobally-traded commodity like crude oil. Lumber is dropping even faster, thanks to the end of the building boom. 7/16 OSB sheathing has dropped from $18/sheet down to $6.50 the last time I checked, which is right back to where it was before the hurricanes and the construction boom. Even copper is starting to drop a little, but it's still way up compared to where it was for decades. That's probably because most lumber is made and used locally, whereas copper is traded globally and the Chinese are still busy wiring up their country.