Have a BLAST!
These oil price keep going up, eroding our purchasing power, and it has a detrimental effect on our economy. Russia has driven it up even further with the Yukos situation.
VOA News
30 Jul 2004, 19:32 UTC
Oil prices shattered record highs Friday, fueled by worries of a disruption in supply.
In New York, U.S. light crude topped $43.30 a barrel, the highest level in 21 years.
In London, Brent crude prices peaked at almost $40, the highest price since the Gulf War. Prices began to skyrocket Wednesday on news Russian oil giant Yukos may be forced to stop selling oil. Russia is the world's second-biggest oil exporter, after Saudi Arabia, and Yukos is its largest oil producer.
OPEC is already pumping at 95% capacity, prompting concern that it would not be able to fill any gap caused by an interruption of supply from Russia or Iraq where pipelines are frequently sabatoged.
http://www.voanews.com/article.cfm?objectID=C4794B29-F7E9-40EF-9F028416DB5842FD