Outside Reading Blog Post #5

One of the articles I read this week was about oil prices. Over the past few months, the price of oil has dropped from $147 a barrel to $83 a barrel. The change in price is partly due to the fact that Americans have been cutting back on driving and the demand for oil has been decreasing. This has caused investors to pull money out of the oil market which could potentially lead to a global recession. Not only is this bad econmically, but it could be bad politically as well. As the price falls, certain countries may not see the need to research alternative fuel sources as extensively as before. This isn't particularly good for the environment as the burning of oil contibutes to global warming. Also, if countries slow such research, environmentalists may riot and destroy cities. This puts enormous pressure on oil companies. If the price isn't just right, there could be disastrous repercussions.

The entire article can be read here.

This article was written by Vivienne Walt and was posted on cnn.com.