Thursday, September 11, 2008

Do the math

I was reading this article about falling oil prices in today's Boston Globe. The subhead notes that the price of a barrel of oil is down 30% from its peak in July, but that prices could be rising again.
So, the price has dropped 30%. In order for it to return to that level, however, it will have to rise 50%. You go down 30% and up 50% to get to the same place?
In order to understand this, I guess that we should consult with Sarah Palin, whom John McCain says “knows more about energy than probably anyone else in the United States of America.”


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