Headline: ‘Cheap oil is here to stay’ – when did it arrive?

By Money Matters Editors

CNNMoney.com published a story Thursday entitled “Cheap Oil Is Here To Stay.”

Question - Oil closed at about $75 per barrel Thursday: Money Matters Editors want to know, when exactly did cheap oil arrive?

The CNNMoney. com article goes on to say that a combination of conservation, increased engine efficiency, and an existing glut of oil will keep the price of oil “well below $100 a barrel.”  How comforting.