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?
"These aren't record prices, just look at the rate of inflation" I for one feel there is creeping inflation which could escalate rather quickly into a petrol-based-inflationary-spiral, if the fear factor expands amongst energy traders, contingent on added 'energy supply shortfalls' produced by various factors. Stock markets world-wide will also be adversely hit, if oil keeps climbing & climbing & ...
"I wonder...who was president last time gas prices rose like this? And how was he remembered?
I take it you mean Jimmy Carter? Old Jimmy's legacy: $850 gold, $50 silver, gas prices way up coupled with double digit interest rates, all= Jimmy's inflation one term!
Here are a couple of oil news updates covering some of the key bullish trending reasons I touched upon.
Oil price close to $65 mark:
* Iran faces UN sanctions over resumption of N-programme
* Warnings of terrorist strike in Saudi Arabia
* Capacity problems at US refineries
'British officials talked of "credible reports" that terrorists were in the "final stages of planning attacks" in the kingdom, a warning that was echoed by the Australian government and came as the US closed its missions in Saudi Arabia, also citing a terrorist threat.'
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Fuel costs stagger business
Heating Oil Chart. Up, Up & Away - Hope it's not a rough winter.
There is another crucial & very obvious factor I should specifically listed before, the ever expanding national energy consumption of both Red China & India.
Map & Graph: Energy: Oil consumption