Hmm, thanks to the evils of Big Oil, global warming appears to be serving up a mild winter, which in turn is lowering demand for heating oil, pushing down crude oil prices and dragging Big Oil shares down with them.
Oil fell nearly a dollar on Monday as mild weather blanketed much of the United States, cutting into heating oil demand from the world's largest energy consuming nation.
"The mild weather should keep some pressure on prices," said Mike Fitzpatrick, vice president for energy risk management at Fimat USA.
U.S. heating demand is expected to be nearly 27% below normal this week with warmer temperatures in most regions east of the Rockies, the National Weather Service said Monday.
Al Gore must not know how to feel about this. I hope his head has paradox-absorbing crumple zones.
Previously: You're As Cold As Ice
Handcrafted by Flip on December 11, 2006 |
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