Energy Stocks Continue to Fall

The market and the Buy List are basically flat today. Frontier Airlines (FRNT) is off 30 cents which is weighing us down. I’m not sure why it’s down so much today. Independence Air filed for bankruptcy, but I wouldn’t think that would hurt Frontier.
Continuing my theme from last week, the energy sector continues to fall. The Dow Energy Index (^DJUSEN) is off about 2% today. One energy analyst said that prices at the pump could be at $2.15 in another month. Ironically, the CEO’s of oil companies are going to testify before Congress on Wednesday. It might make for bad economics, but it will be good television.
To show you how dramatic the decline has been, here’s a chart of prices at the pump from GasBuddy.com.
gasprices.png

Posted by on November 7th, 2005 at 1:19 pm


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