|Oil prices briefly fell below $50 per barrel Thursday for the first time since May 25, 2005, after the government reported larger-than-expected jumps in crude oil and gasoline inventories.
Oil has dropped 17 percent since the end of 2006 amid weeks of mild winter weather in the U.S. Northeast, a key consumer of heating fuels, and growing energy stockpiles.
|The oil executives found little sympathy from senators, who said their constituents are suffering from high energy prices while Big Oil makes big profits.|
Maybe it’s time for similar hearings so Senators can extend gratitude to the oil execs?
(PS: This is not a defense of Big Oil.)