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« The Onion: Google Announces Plan To Destroy All Information It Can't Index | Main | Hurricane Katrina » August 31, 2005 White House to Open Strategic Reserve
Today, the White House announced that it will open the Strategic Petroleum Reserve in order to cushion the oil market in the aftermath of Hurricane Katrina. I doubt this will have much of an impact outside of the very near term. For now, crude oil fell below $70 a barrel. The government also reported the economy grew by 3.3% for the second quarter, slightly below its original forecast of 3.4%. There will be one more update to this number at the end of September. I wouldn’t be surprised to see second-quarter growth revised higher. Economists that the economy will grow by 4.1% for this quarter but that’s before the impact of Katrina is taken into account. Posted by edelfenbein at August 31, 2005 8:50 AM |
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