Bubbling Crude

Oil prices continue to hold back stocks. As the price per barrel climbs over $60, stocks have become skittish. Oil is such a driver in our economy that any blip in those prices sends ripples throughout Wall Street. Interestingly enough, if you look at historical prices and adjust for inflation, you'll find that the price we pay at the pump today is less than in the late 70s and early 80s and is comparable to prices in the early 90s. Check out this government site to find all the stats and story on oil. It's fascinating. You'll find that about 27% of every gallon goes to cover taxes! Dow -7.06 NASDAQ -8.07 S&P 500 -0.88