And in Washington state, three unfinished muliti-million dollar homes burned down on Monday in the Seattle suburb of Woodinville. A sign left at the scene of the fire indicated it was set by members of the Earth Liberation Front. All of the homes were unoccupied. No one was injured in the blaze that caused an estimated seven million dollars in damage. The homes were marketed as being located on a Street of Dreams. Some environmentalists had opposed the new luxury development because of its close proximity to the Bear Creek, which is home to endangered chinook salmon. The fire occurred while a 32-year-old violin teacher named Briana Waters is on trial in Tacoma Washington. Waters has been charged with acting as a lookout during a fire set at the University of Washington’s Center for Urban Horticulture in 2001.
Oil Prices Reach New High; Warrant Buffet Says U.S. Is In Recession
In economic news, the price of oil reached a new high Monday, topping $103 a barrel for the first time ever.
Some analysts are now predicting the price of oil could jump to nearly four dollars a gallon by this summer. Meanwhile billionaire investor Warren Buffet said the U.S. economy is essentially in a recession.
Warren Buffet: “I would say by any common sense definition, we are in a recession. We haven’t had two consecutive quarters of GDP (Gross Domestic Product) growth, but I will tell you that, on balance, most people’s situation, certainly their net worth has been heading south now for a considerable length of time…”