Oil tops $107 after Iraqi pipeline bombed!!

[e90im]

http://www.msnbc.msn.com/id/12400801/

[!Xoible]

what's next, gonna be @ $5 a gallon?

[e90im]

Looks like it. The surge is working!

[dr335is]

Originally Posted by mantis

what's next, gonna be @ $5 a gallon?

But in Europe they pay $8+/gallon, so the goats will buy it and all will be fine...
Someone needs to question crooks in the WH and around!

It is simply impossible that the demand/shortage/price sky-rocketed just in the last 6 years and keeps going, but not before...
So clear to me...

[Crimson92]

gonna need some lube at my next fill up

[!Xoible]

Originally Posted by dr325i

But in Europe they pay $8+/gallon, so the goats will buy it and all will be fine...
Someone needs to question crooks in the WH and around!

It is simply impossible that the demand/shortage/price sky-rocketed just in the last 6 years and keeps going, but not before...
So clear to me...

well europe is not in war for oil!!! if we gonna pay the same or close why the fuck are we in war then??? GTFO iraq and bring back gas prices to 1.20/gallon

[dr335is]

Originally Posted by mantis

well europe is not in war for oil!!! if we gonna pay the same or close why the fuck are we in war then??? GTFO iraq and bring back gas prices to 1.20/gallon

A trillion plus $$$ wasted in the last 5 years must be reflected somewhere -- inflation, lower standard of living, decline in economy expansion...ands finally a collapse (if things don't change...)

[vladinecko]

there was a bit on the news a couple of days ago about how oil in iraq just magically "disappears" and spills over to the black market.

oil is middle east's most effective weapon against america.

[ganeil]

if you are looking toward Washington DC for someone to blame for the current oil prices, I would look at the opposite end of Pennsylvania Avenue than the White House.

Because of Congressional action (or inaction) the US is unable to tap tens of billions of barrels of oil that are recoverable on US land or off our coast.

Oil is a commodity and right now there is very little excess production capacity in relation to demand. Therefore every little hiccup in the production or transport is going to have a significant market impact.

Increased US domestic production could help ameliorate this situation but Congress would rather bitch than do something productive.

[e90im]

[dr335is]

Originally Posted by ganeil

if you are looking toward Washington DC for someone to blame for the current oil prices, I would look at the opposite end of Pennsylvania Avenue than the White House.

Because of Congressional action (or inaction) the US is unable to tap tens of billions of barrels of oil that are recoverable on US land or off our coast.

Oil is a commodity and right now there is very little excess production capacity in relation to demand. Therefore every little hiccup in the production or transport is going to have a significant market impact.

Increased US domestic production could help ameliorate this situation but Congress would rather bitch than do something productive.

Blame for the Gas prices...

WRONG again -- the problem is not AT ALL with the oil quantities, but with the production limitation inside the US...therefore, the price rise comes ONLY from within the US and that is easily explanation why the price jump was much more significant int he US than anywhere else in the world (in the last 5-6 years...)

Someone's getting rich with all this -- don't want to point my finger...

[ianbiz]

Originally Posted by dr325i

Someone's getting rich with all this -- don't want to point my finger...

Is it the guy in the white house?

[dr335is]

Originally Posted by ianbiz

Is it the guy in the white house?

My house is white also...but I did not get rich

[e90im]

Oil price hits $117

[e90im]

Thanks Dub...