For general discussion and debate. Possible talking point: oil plummets again today!
Crude oil for August delivery fell to an intraday low of $136 a barrel earlier on the New York Mercantile Exchange, off $5.37, the biggest loss in value since June 19. By late morning, it was down $4.87, or 3.4%, to $136.50 a barrel. Crude has lost more than $9 in two consecutive sessions.
Is this the beginning of the bubble bursting, or just a long overdue correction in a commodities bull market? Assuming the former, would lower gas prices before Election Day help McCain or Obama?