Gas Gone Wild!

Gas prices– I hear the sighs of exasperation just typing those words. They’re ridiculously high, but how deeply are they affecting the economy? According to Dr. Michael Nieswiadomy of the UNT economics department, not as much as we all think. “People think that because gas prices are going up, the economy is going down, and [...]

Who Pays for Stolen Gas?

Source Gas prices are high in Frederick County, Maryland.  That’s not a surprise, and neither is the amount of drive-aways the town experiences.  Giovanna Cortez works at a local gas stations and says at least once a day somebody drives off without paying for their gas.  Workers at the GetGo and Lowest Gas Stations agree– [...]

News Around the Globe

According to this website, OPEC raised the price of oil on Wednesday for the sixteenth time since the beginning of 2008.  That brings the price per barrel to $106.65! Many factors attribute to the quickly rising oil prices.  The article mentions that although the demand for oil is high, OPEC will not increase its output. [...]

American Money Goes to Gas and Food

A recent survey by Bloomberg shows that Americans bought less furniture, clothes and appliances this spring as a result of soaring gas and food prices.  Home and refrigerator sales also fell.  According to Bloomberg, the 11% rise in gas prices has caused consumer spending to drop considerably–and that makes up about two-thirds of our economy! [...]

Bank Reform

By: Stephanie Smith Source: Yahoo News Financial leaders from 185 different nations came together this weekend to discuss the downward spiral of the global economy. The International Monetary Fund (IMF) and World Bank pledged to control banks and other financial institutions more tightly. The IMF is focusing on the severe worldwide credit crisis, which could [...]