I don\’t know how long it will stay there, but Texas light crude oil is down another $1.36 and, as I type this, January contracts are trading at $54.52 a barrel.
Far and away, the single biggest reason for oil futures dropping in half (literally – they were at about $108 a barrel this summer)? Fracking – which President Obama very strongly, very publicly opposes.
Now watch him take credit for the benefits lower oil prices bring to us.
