Senior Research Fellow Richard Ebeling was quoted in an article in Sunday's Wall Street Journal:

In case you haven't noticed amid market turmoil, oil is back below $80 a barrel. That's after reaching a record high of $147 a barrel on July 11.

Volatility in the financial markets has pushed oil down as world-wide demand lessens and investors abandon futures contracts for safer investments, says Richard Ebeling, a senior research fellow with think tank American Institute of Economic Research. Crude oil closed at $77.70 Friday.

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