Oil rises near $64; gasoline hits record high

AP WorldStream via COMTEX ^ | Aug 08, 2005

[M. Espinola]

If current trending continues $70 crude oil is not that far off.

[Principled]

Pool on the day it first hits $100/barrel?

[softwarecreator]

Pool on the day it first hits $100/barrel?

Can you believe this?  $70 a barrel!!  I get a shock every time I go to the gas station and fill up.

So much for the "No war for Oil" crowd.  Funny how we haven't heard much from them lately, huh?

[Rutles4Ever]

There's no reason we shouldn't have FLEX spending accounts for gasoline. We're paying so much in fuel taxes, we should be able to pay for fuel before taxes come out of our paychecks...

[OXENinFLA]

http://www.bloomberg.com/energy/

[RetiredArmy]

Yet, we continue to sit on our butts and have not sunk one well in the ANWAR. Not one.

[softwarecreator]

Sorry for the above post, that should have gone to the guy suggesting that $70 a barrel wasn't too far off.

[TAquinas]

$100/barrel is still a 2-3 years into the future, unless something of cataclysmic proportions takes place in the ME, like nukes being exploded in Israel by al Qaida, as is foreseen by some in the intelligence field.

[OXENinFLA]

Well I'm soooooooooooooooooooooo glad we won't be drilling in ANWR............ /sarc

[ARCADIA]

We are sinking; The dollar is going down fast. Greenspan will have to crank up the rate to stabalize the dollar - and fuel prices; but, how much room does he have before he pops the housing/credit bubble?

[softwarecreator]

we should be able to pay for fuel before taxes come out of our paychecks...

Not bad, I like the way you think!

[Phantom Lord]

Gas prices have NOT hit record levels yet.

[M. Espinola]

"Pool on the day it first hits $100/barrel?"

I'm game.

If disruptive terrorist/sabotage attacks take place against the oil fields of Saudi Arabia, we could be looking at well over $100 in total panic buying. OPEC's "nuclear" Iran is another wild card in the making.

Those suckers who laughed when crude had reversed back to $30ish during the Fall of 2003, and I repeatedly stated she was heading to over $50, I bet with every fill up they are crying, not laughing.

[Perdogg]

I tell you, the bottom is going to fall out.

[mysterio]

You are watching the pubs lose in 2008 right now. And probably 2006. Not their fault, but it's going to be hard to convince voters of that. Especially after the big gift they just gave oil companies.

A divided government gets less done. That's the only good thing I can see coming of it.

[skip_intro]

Yet, we continue to sit on our butts and have not sunk one well in the ANWAR. Not one.

Yeah, but we're extending Daylight Savings Time by a month.

Surely that will help.

[TAquinas]

"Gas prices have NOT hit record levels yet."

They haven't? About $2.70/gl for regular in my neck of the neighborhood?

[Phantom Lord]

Adjusted for inflation, gas exceeded $3 a gallon in 1980.

[skip_intro]

Gas prices have NOT hit record levels yet.

$3.00 plus per gallon in California is a record to me.

[softwarecreator]

I tell you, the bottom is going to fall out

Okay, I am not an economist by any stretch.  I agree with you on this, but what do you feel will be the repercussions?  Being in Mighigan I KNOW the ramifications here because of the auto industry.  What about other states and the possible effects?