Not only are they failing to serve the American people, their defiant ineptness is going to cost us at the pump.
There is nothing wrong with Nancy Pelosi that tar and feathers cannot fix.
Posted on 08/03/2008 9:58:39 PM PDT by Fred
Oil prices jumped Monday in Asia on concern that a showdown over Iran's nuclear program could threaten crude supplies out of the Middle East.
U.S. Secretary of State Condoleezza Rice said Saturday that the United States would have no choice "but to begin again to prepare sanctions resolutions for the (U.N.) Security Council" if Iran did not halt the development of its uranium enrichment program.
Rice said that given the U.N.'s current scheduling, sanctions probably could not be expected in the next few weeks, but the U.S. will begin working with allies toward that goal.
"There's concern about a potential confrontation down the line," said Victor Shum, an energy analyst with Purvin & Gertz consultancy in Singapore.
Light, sweet crude for September delivery rose US$1.16 to US$126.26 a barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore. The contract gained US$1.02 on Friday to settle at US$125.10 a barrel.
In London, September Brent crude was up 96 cents at 125.14 a barrel on the ICE Futures exchange.
Iranian President Mahmoud Ahmadinejad said Sunday that diplomacy is the only way out of his country's standoff with the West as an informal deadline expired on an offer of economic and other incentives by six world powers if Iran agreed to curb enrichment.
Iran's leader made the comments a day after asserting that his country would not give up its "nuclear rights," signaling that it would refuse demands to stop enriching uranium or at least not to expand its enrichment work.
The United States and its European allies fear Iran intends to use the technology to develop material for nuclear weapons under the cloak of a civilian nuclear power program. Iran denies the accusation.
"You've got three supply-side worries pushing oil higher today - Iran
(Excerpt) Read more at forbes.com ...
Cue the Awww Jeez guy
Points out with clarity the main reason we need to drill and use our own resources. Once again being held hostage to muslim dictates.
Just another Pro-speculator article by Forbes-
Oil closed on Thurs @ 123.28
Closed Friday after a slight bump @ 125.29
and is now currently trading @ 126.04
No panic needed here-
Not only are they failing to serve the American people, their defiant ineptness is going to cost us at the pump.
There is nothing wrong with Nancy Pelosi that tar and feathers cannot fix.
I think the $3..0 rise is from Hurricane Pelosi blowing off the American people and congress by not allowing a vote on drilling...Now we all wait for 5 weeks...
Hurricane Pelosi... Excellent!
Buy my book, PLEASE...I'm important! Really!...
Bingo.
Oil has fallen and is currently trading @ 120.43
So much for Forbes-
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