[M. Espinola]

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

[Principled]

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

[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.

[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?

[Phantom Lord]

Gas prices have NOT hit record levels yet.

[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.

[Servant of the 9]

The upside is that at $100.00/bbl enough shale oil, coal gassification and more difficult tar sands deposits will be economicall viable to make us not only energy independant, but net exporters.

Think about what that will do for our balance of payments and our economy.
The money in our pockets will soon begin to grow faster than fuel prices.

So9

[Mo1]

Crude oil futures hit more record highs Monday, nearing US$64 a barrel, reflecting market fears over the U.S. embassy closure in Saudi Arabia and concerns that shutdowns of U.S. oil refineries would reduce supply.

I fail to see any reason why oil prices should shoot up because of an embassy closure

[tobyhill]

No worries here, the pork will be signed today. (sarcasm)

[Fierce Allegiance]

Having shifted a chunk of my investment money into small well drilling stocks about 6 months ago has proven VERY fruitful!

[jpl]

Refinery shutdowns? We need to be building MORE refineries, not shutting down the ones we have now.

[sandbar]

Can someone here educate me to as to why it is this high? I keep hearing about how we don't have refineries, blah blah blah. That has nothing to do with the price of crude oil. I do think that the government needs to step in at some point and attempt to do SOMETHING. It's going to cripple our country if it doesn't stop.

[Soliton]

I hope it goes to $100/bbl. Maybe we will start producing our own.

[MNJohnnie]

Sitting on a pile of future contracts hun M?

Please explain how

"concerns that shutdowns of U.S. oil refineries would reduce supply."

Oil goes INTO the refinery. How would a REDUCTION in the CONSUMERS of OIL drive the price UP? For the last 6 months all we have been hearing is "the Chinese and the Indians and buying up all the oil. There is too much demand!".

[RckyRaCoCo]

Oil Reserves

Saudi Arabia 261.7 billion bbl (2004 est.)
Canada 178.9 billion bbl including shale oil (2004 est.)
Iran 130.8 billion bbl (2004 est.)
Iraq 112.5 billion bbl (2004 est.)
UAE 97.8 billion bbl (2004 est.)
Kuwait 96.5 billion bbl (2004 est.)
Venezuela 78 billion bbl (2004 est.)
Russia 69 billion bbl (2003 est.)

USA 22.45 billion bbl (1 January 2002)

[RightWhale]

I don't buy crude oil, so I will do what most posters do and segue to gasoline as if it is the same thing. The price of my favorite gasoline has risen 20 cents since the last time I gassed up. At the same time gasoline has risen, which is since Friday, the amount of traffic has doubled and suddenly the town is full of tourists and others headed up to the university.

There are a great number of young men with about a week's growth of beard and I would bet many of them use colorant to darken their beards. Their women are as scruffy-looking. What does this have to do with the price of crude oil? I don't know, but there is a lot of money sloshing around this town. Housing hasn't bubbled like San Diego. A lot of the money is in rolling stock, and air and rail traffic has suddenly risen since Friday. Is this the last great boom before the bust on 9 Sept?

[trubluolyguy]

YEAH HI PRICES! THIS CAN ONLY BE GOOD!

"These aren't record prices, just look at the rate of inflation"

(pay no attention to that man behind the curtain)

If we say there is no problem long enough, then there is no problem.

I wonder...who was president last time gas prices rose like this? And how was he remembered?