High Oil Prices = Low Stock Prices


	High Oil Prices = Low Stock Prices

muckdog

7-8-2008 1:39 AM

213 views

tags:

oil, energy, stocks

muckdog says:

Good column by Dr. Jeremy Siegel on the impact of higher energy prices on the economy and stocks. I think he's spot on.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/df7aadbd-4332-4c6a-9fd4-27247dd04dbb/33423447-26F9-422B-A97A-B28112177819/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://finance.yahoo.com/expert/article/futureinvest/91644" href="http://finance.yahoo.com/expert/article/futureinvest/91644" style="font-size: 11px;">finance.yahoo.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/expert/article/futureinvest/91644">
The rising <SPAN id="lw_1215403209_0" class="yshortcuts">price of oil</SPAN> and other commodities continues to bedevil the economy and is the major reason for the decline of stock prices.  <A href="http://finance.yahoo.com/expert/article/futureinvest/85317"><SPAN id="lw_1215403209_1" class="yshortcuts">In my last column</SPAN></A> I showed that if oil stays at $130 a barrel, the US would pay over one-half trillion dollars to foreign oil producers over the next year, a sum that could reduce US economic growth by two percentage points or more.  Given the continued weakness in the housing market, <SPAN id="lw_1215403209_2" class="yshortcuts">rising oil prices</SPAN> could still send the US into the recession, although second quarter growth will come in around 2%, buoyed by consumer tax rebates.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/33423447-26F9-422B-A97A-B28112177819/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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