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Oil Prices and Our Economy

09/12/2008


The price of oil recently dropped to $102 per barrel. This $40 plus drop has come in the nick of time. Had the astronomically high oil prices of this past summer continued, it would have been ruinous for our economy. Fortunately, the speculators have begun to eat their profits.

It is critical to drive oil prices down to the $60 range. This is where they belonged in the first place. Returning to this “normal” price would result in a stronger economy and would undoubtedly help us to rebound quickly from our recession.

Here is what we can do to strengthen ourselves:

· Continue buying smaller cars and dump the SUVs

· Try mightily to conserve energy - turn off the air conditioner whenever possible Drive less, walk more. Turn off the lights when you finish using any room or building.

· Building owners - encourage your tenants to conserve energy in your common areas. The Real Estate Board of New York has an excellent guideline to assist commercial building owners with conservation measures that is available on their website: www.rebny.com .

The economy you are protecting belongs to each one and every of us. We each have to chip in wherever we can. --Edward E. Klein

PS— I would like to apologize to our regular readers for my infrequent postings, but I have been out of the office for the last couple of weeks dealing with family business. I will be returning to my regular schedule and posting a new blog every Thursday of every week.

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