Why should I care about the price of oil? Part I.
By Rachel Lynn Foley, Kansas City, MO, Bankruptcy Attorney on Dec 8, 2007 in General Bankruptcy Information
Why should I care that that the price for a barrel for oil is $88? Like many things in life there is a ripple effect. Think of a pebble that is thrown into a pond. The center point of the reaction is the pebble entering that pond. Then ripples or waves move outward from the center point. Keep in mind that the pebble is the start of the reaction that caused the ripple effect and you would not have the ripples if it were not for the pebble entering the water.
Let’s then use our ripple effect and compare the reaction to the price of a barrel of oil. The barrel of oil is the pebble that enters our pond. Now let’s say that the price of that barrel of oil increases from $88 a barrel to $100 a barrel. What will the ripple effect be? To study the ripple effect we must look at what the ripples will consist of. The ripples would be anything that will be a by-product of oil.
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