Oil

Oil Prices Fall and the Global Economy Wins – Businessweek

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Oil Prices Fall and the Global Economy Wins – Businessweek.

"Oil is in the middle of one of its steepest selloffs since the financial crisis, with prices on the international market falling 18 percent since mid-June, to $94 a barrel on Sept. 30. There are two explanations—not enough demand or too much supply. Supporting the weak demand argument: a stagnant economy in Europe, slower growth in China, and flat gasoline consumption in the U.S. According to the International Energy Agency, in 2014 world demand for oil will grow only 1.5 percent."

Ethel H. Spill

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On February 4, 1977, the barge Ethel H was heading up to the Roselton Power Plant in Newburgh. It was loaded with 2.5 million gallons of Number 2 fuel oil, to be burned in the power plant. It ran aground at Con Hook Rock, which is located north of Bear Mountain bridge, spilling 420,000 gallons of fuel oil in the river. Here is a webpage with some pictures.