nasdaq gained 17-1/2. gasoline dropped a penny-and-a-half. the national average is $3.61 a gallon. down 22 cents. from a month ago. crude oil prices plunged $4.5 a barrel to close at $91.02. that drop in crude triggered by the word that the obama administration is about to tap the country s reserve oil supply. chief correspondent carl cameron has more on the plan and the reaction. president obama approved the release of 30 million-barrels of oil from the u.s. strategic petroleum reserve as part of the u.s. role in 60 million-barrel release by international energy agency in response to diminished supplies caused by turmoil in middle east and libya. we re pleased that the president has taken the action. the democrats hailed the move as economic boost. and john boehner released a blistering statement accusing the president of playing 2012
s&p 500 dropped 4. nasdaq gained 17-1/2. gasoline dropped a penny-and-a-half. the national average is $3.61 a gallon. down 22 cents. from a month ago. crude oil prices plunged $4.5 a barrel to close at $91.02. that drop in crude triggered by the word that the obama administration is about to tap the country s reserve oil supply. chief correspondent carl cameron has more on the plan and the reaction. president obama approved the release of 30 million-barrels of oil from the u.s. strategic petroleum reserve as part of the u.s. role in 60 million-barrel release by international energy agency in response to diminished supplies caused by turmoil in middle east and libya. we re pleased that the president has taken the action. the democrats hailed the move as economic boost. and john boehner released a blistering statement accusing
price of fuel oil is going to be high. maybe you re better off taking a train. maybe there might be something that you could do a bus thing with. be smart, look around. do some homework. i think you will still be able to have a great summer. arthel: when can we see the prices get lower and will it be long lasting? it is a great question. i like this topic if we go back arthel, to 2008 when gas was $4.03, coming off about a dollar a gallon increase over the year before. by the summer of 2009 it had dropped down from $4.03 to $2.61. that was only in one year. for 2010 it also stayed pretty flat down there as well. so, remember, we ve been here before after a very, very major dollar a gallon move
effectiveness of different policies, they found that for every dollar you spend on extending unemployment benefits, we get back $1.61 in economic growth. so now slashing unemployment benefit what s going to happen to economic growth in florida? maybe we should consult the economics department from one of florida s fine public universities. you must be careful where you treathere? apparently conservative billionaire charles coke brother of the guy seen shaking hands with john boehner in the previous slide, he has purchased a faculty hiring rights at florida state university s economics department. no, really. quoting now from the paper, a conservative billionaire who opposes government meddling in business has bought a rare commodity, the right to interfere in faculty hiring at a publicly funded university. the report says in exchange for
extending unemployment benefits, we get back $1.61 in economic growth. so now slashing unemployment benefits, what s going to happen to economic growth in florida? maybe we should consult the economics department from one of florida s fine public universities. you must be careful where you tread there? apparently conservative billionaire charles coke brother of the guy seen shaking hands with john boehner in the previous slide, he has purchased a faculty hiring rights at florida state university economics department. no, really. quoting now from the paper, a conservative billionaire who opposes government meddling in business has bought a rare commodity, the right to interfere in faculty hiring at a publicly funded university. the report says in exchange for a $1.5 billion donation quote,