Signs of business and technology

Unlike the UK the US has figured out that the only reason petrol is so high is because the suppliers evaluate petrol as a price inelastic good, unlucky for them. The price per barrel of oil has dropped down to $115 after a continual decline in the demand for oil.

Maybe this shows a change in the trend and the suppliers will finally see that holding back their supply of oil in order to push up prices will no longer work in this now eco-friendly world.

With the lowering prices in oil (most likely due to the recession) the US economy may have a chance to recover much faster then anticipated but no business is holding its breath and neither are the citizens.