Crude oil price hits new high of $102.59 a barrel

The Times Online ^ | February 29, 2008 | Suzy Jagger

[Bogie]

You are so right about price gains with Rhodium. I should have made a purchase at $250 an oz but was having trouble finding a market maker.

The future belongs to Ruthenium because of artificial photosynthesis.

[cherry]

so what do we get on our "saved money"?....the cd rates have fallen preposterously and yet today on the news scroll it said that mortgage rates have inched up to well over 6%

the bankers are giving it to us from both ends......

what else to do with our Money?

[bjs1779]

Oil, like gold is priced in Dollars so it costs them less due to the temporary valuation differential. Some might say they have a vested interest in things that are contrary to the United States best economic interests.

I am not sure that I am going to disagree with you, but our economic policy and national debt is not to be blamed on everyone else.

[KoRn]

"what else to do with our Money?"

You can simply give it all to me. Sure it may be worth less, but having more of it is STILL a good thing. We should all stock up on Monopoly money. Some day there may be a parity between it and the US Dollar. lol

[bjs1779]

I should have made a purchase at $250 an oz

"I should have" is a bad thought. There is still plenty of opportunities out there.

[kinoxi]

Our national debt is is not the demon it appears to be IMO. The declining Dollar is not necessarily bad either. It sounds bad yes, but countries like Japan and China keep their currencies artificially deflated due to it’s obvious inherent benefits.

[Bogie]

Yes sir, I noticed that Kitco is now promoting the Rhodium. Though, I'm into other things at this point and, the price is way up there too.

Opportunity is always knocking!

[bjs1779]

Our national debt is is not the demon it appears to be IMO. The declining Dollar is not necessarily bad either.

Good, have fun at the gas pump and the grocery store.

[Bogie]

Kitco

[kinoxi]

Strong Dollar means we can’t sell our wares abroad. Good luck with your recession.

[bjs1779]

That’s the spirit!

[Grunthor]

What would a recession do to the price of oil?

[bjs1779]

Strong Dollar means we can’t sell our wares abroad. Good luck with your recession.

Keep your food glued downed to your table if you like to eat.

[Eye of Unk]

It would be nice if an alternative fuel other than methanol was available, or some magic pills you add to water that your engine can run on.

This will have some profound effects in the near future as people are going to go nuts about the higher cost of fuel, figuratively I am not worried, on average I use 25 gallons a week commuting, at a 40 cent increase its only $10 more, so I buy two packs less of cigarettes, or 3 less beers after work per week.

[kinoxi]

Didn’t quite follow that one.

[bjs1779]

Follow the grain markets and where our produce is going.

[Bogie]

Buy a sailboat. As an extra you get a free place to live and don’t use much gas.

[Malsua]

How about we stop pumping 70000 barrels into the ground.

You have to figure at least 10% of that leeches off.

I’m not saying the SPR isn’t important, but sheesh, at some point having a little more doesn’t mean anything. We have 60 days or so of oil...weee...big deal. If we can’t provide oil going forward, people will adjust and the world will change. The point to remember however is that a non-renewable resource is a short term fix. We’ve got enough short term in the SPR.

[Eye of Unk]

I considered that if I was to move to Hawaii. Older boats are cheap I have seen compared to property. But living in Alaska I may just build a methanol still.

[kinoxi]

I don’t like the thought of using our food sources as fuel. It’s ridiculous IMO.