Tuesday, June 2, 2009

Oil rises; WisDOT plows ahead

Oil hit $67.52 a barrel yesterday, a six-month high.

As the Wall Street Journal reported:

Oil prices are now double their 2009 low on the prospect that demand will soon begin to improve, providing relief from bulging crude stockpiles. For evidence, investors have looked to economic indicators showing a slower rate of decline in the U.S. and, more recently, signs that China's economic engine is revving back up.

Prices will undoubtedly soar much higher when people actually start finding jobs and housing stops cratering.

And still the Wisconsin Department of Transportation pushes freeways instead of transit. A bad policy decision if ever there was one.

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