The article I read is "Oil fails to float above $90 barrier". The article talks about that "Oil futures prices tumbled 1.6 per cent yesterday, unable to sustain a breach above $US90 after flirting with the level this week"
. I know few things about economy, but I got the information from TV and newspaper that the price of oil is very significant to the world market. Every time the oil price is not steady, it means something is happening in the world. For example, the turmoil in Libya.
I can see from this article that the world is connected tightly. The change of oil price let "the dollar rise 0.4 per cent to 76.596 on the ICE Dollar Index" and let "ventral bankers vowed to backstop European banks wrestling with sovereign debt problems". Also about US prospects," a spate of weak US economic data is rising doubts". Every part in the world is influenced by the same circumstance.
I believe that in the future the world will be much more connected. The comment interest will play a important role in world economy.
http://www.theaustralian.com.au/business/markets/oil-fails-to-stay-above-90-barrier/story-e6frg91x-1226139636790.
It’s scary to think that oil does have such a large impact on our world and the economy. This is exactly why engineers need to work harder and together to find an alternative fuel. Also, like you said, oil and the turmoil in Libya are connected. Cultures need to collide and discuss differences in order to move forward. ENGR 103
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