Is the oil bubble bursting ? As of Friday, the per barrel cost of oil was $128.88.No more than a week earlier oil was trading at more than $147.00 per barrel. Hopefully the recent of drop in the price of oil is indeed a trend that result in lower gasoline prices .In other words, the likelihood of widespread $5.00 gasoline may have been staved off for the foreseeable future.
On that note, I did see one local gasoline station listed here that did break the $5.00 per gallon barrier already.
My eyes literally popped out my head when I read this PBN article.
“Big Island occupancy dropped 29.7 percentage points to 55.5 percent, while room rates fell 10.4 percent to $188.”
This is really bad news. Hopefully this is not a long term trend. If it does become a trend, our state’s unemployment rate will probably go much higher than 3.8%.
Lastly, the fallout from the recent layoffs at North Hawaii Community Hospital continues. Apparently the upper tier hospital management have received threatening phone calls and property damage.I realize that these layoffs will hurt the overall Kamuela community. But there is better ways to get the needed changes at NHCH before sinking to the level of making threats and doing property damage.
Wow… head surgeon leaves hospital on morals?
Big Island is really hurting.
With a hurricane barreling down on Texas right now could that mean a double blow shooting up oil prices if oil refineries get damaged and oil drilling platforms in the gulf get nailed? Would Capitol Hill pass the offshore driling bill if a thousands of gallons of crude spill from damaged platforms? Time to gas up my car, gas prices may be rising again.