The curse of the 'black gold'
Thursday August 28, 2008 13:23:00 EDT

(RTTNews) - The recent oil shock awakened U.S consumers to the vulnerability we face when it comes to energy. Though the price of oil has eased from an all time high reached in the middle of July, prices remain high compared to the previous year. It would be wise if we learn from our experiences and show a willingness to change the way we view this liquid, which has come to dominate every facet of our daily life.

After the price of light sweet crude spiked above $75-a-barrel in 2006, the year that followed an active Atlantic hurricane season, prices cooled off to around $60-a-barrel by early 2007. However, the commodity saw further strength through most of 2007, with a barrel of oil fetching $92 by October 2007. Thereafter, there was no turning back, as the price of oil b (continued...)