Local Energy News

Oil prices have been falling for the past month, and began trading Wednesday at around $113 dollars per barrel. One month ago, oil was $145 dollars per barrel. They seem to pushing back up now, however, as the understanding of the Russia/Georgia conflict grows. This could indeed get interesting.

Oil demand in the U.S. has fallen by 800,000 barrels per day since this time last year, according to the Energy Information Administration, as consumers cope with higher prices and the economic slowdown.