Oil hits $93 a barrel

[JFN1]

How long until it's $100? I've been saying since this summer it would be around Christmas - looks like I was wrong...its going to be much sooner...maybe this week...

http://money.iwon.com/jsp/nw/nwdt_rt_top.jsp?news_id=ap-d8singrg0&.html

[Kool Kitty]

1. How long until it hits $100 a barrel?

Well, what time is it now? I'm betting by Friday.

[JFN1]

2. And only 6 years ago

Oil was under $40 a barrel. Wonder how all those Bush supporters are feeling about electing their oil-man?

[Dewlso]

5. Where are our reserves?

You have to wonder why bush isn't coming off of the reserves. Maybe it is because with all the war propaganda on faux noise is driving the price up and that is what bush wants. He is an oil man. We all know how faux noise has been bush's #1 media outlet since he was selected in 2000. Faux noise puts out the propaganda the OPEC countries in the middle east respond by lowering production and jacking the prices up and we all pay. I just wish bush would release some of our own oil to the market to bring the price back down a bit. I have a feeling we will see prices well over the 100 dollar range by December.

[kysrsoze]

10. Ding-Ding-Ding! You nailed it. They WANT instability and high prices

That's what Iraq and Iran are all about. Any sane leaders would be doing their best to ensure that our country gets off the oil teat. These @ssholes relish the current situation. I have to pinch myself sometimes when I realize that private industry is our only hope for energy independence. In this case, it's those who make a profit in energy efficiency and alternatives who MAY save this country - without a shred of assistance from our shitty government.

[Beerboy]

6. Not everyone who's making money off oil voted for Bush.

n/t.

[sandnsea]

7. Bush was going to jawbone the prices down

Don't you remember?

[Baby Snooks]

13. If they have oil royalties, they like it!

I would imagine even some Democrats with oil royalties like it just fine. The royalty checks are bigger. Human nature.

Bush is really not responsible for this. Reality is we are peaking and supplies are tight. The oil companies are merely responding to the peaking. And admitting it. Which no one else is.

It is quite the paradox. The burning of fossil fuels has contributed to global warming. And yet we are running out of fossil fuels.

The price will probably fluctuate but most expect we will see $100 as the median by the end of the year. So far it has not affected the price at the pump significantly. But it will.

Hope the Republicans with their Bentleys and Humvees are getting really big royalty checks. They may need them in order to fill up at the pump.

And shame on the Democrats with their Bentleys and Humvees! Walk your talk and drive it as well.

[L. Coyote]

3. I wouldn't buy into futures. It may go down. But, I suspect everyone wants

it to go up except the consumers. This is great for all the oil industry people bribing the politicians.

[JFN1]

4. And the Saudis are loving it

I feel bad for people in the Northeast - heating fuel is going to be hugely expensive this winter.

[L. Coyote]

8. More like mafia bosses manipulating it w/ the big oil companies. War pays big!!

Did I leave out anyone. Oh yeah, the Bushco junta.

[newportdadde]

9. Not surprising given the dollar and the feds/admin policy of a weak dollar.

The lower our dollar goes the higher its going to go up.

[kysrsoze]

11. That is true, now that the petrodollar is switching to euro. A double-bonus in bringing $ to Russia

so they have the $ to match our saber rattling in eastern Europe. Now we have both a huge Middle East war for the oil companies and defense contractors, as well as a renewed arms race with additional pork $ for the defense contractors. It's a Win-Win!

[baldguy]

12. Relax! Everything is going according to plan.