Holy crap oil is close to $100 US a barrel

[NightWatcher]

to be fair, the dollar isnt worth shit ($1.44 US= 1 euro), but damn we'll hit $100 soon.

it's at $93.53 right now

Woof

[RL3AO]

1. It is amazing. I didn't think it would happen until next summer.

[Maven]

2. It is not just the declining dollar, and it is not an oil co. conspiracy

It is growing demand and flat supply on its way to decline.

And it's going to get worse.

[SpiralHawk]

3. "Smirk, smirk, smirk" - Commander Awol and republicon oil cronies

"Goody, goody, goody."

- Commander AWOL, Dickie "Five Military Deferments" Cheney & assorted republicon homelander oil-profiteering chickenhawk cronies

[DesertFlower]

4. we were supposed to get

cheap oil from iraq. when bush took office gasoline was about $1.50. now it's over $3.00 a gallon.

[Basileus Basileon]

5. I wish it were only a Republican conspiracy.

But no, nothing that pleasant. This is just demand beginning to outstrip supply.

[tekisui]

13. From here on all we have to look forward to is the PEAK and the decline

of oil supply. It is time to get off oil. The sooner the better.

[Jacobin]

6. bubble

Warren Buffett just finished dumping his China investments and says their economy is headed for a serious 'correction'...if that happens, demand for oil will drop significantly and the price would drop by 30% plus.

Lots of 'ifs' here, but Warren Buffett is quite good at predicting these trends. Long term, of course, the trend will be that oil prices will rise, but there is probably a signifant dip coming in the next six to nine months.

/crystal ball off

[leftofthedial]

7. of course, the repukes have $100 only being worth about $93 these days

[SoCalDem]

8. Shhhh. That was gonna be our Christmas surprise.. & now you've spoiled it

Haven't you seen the ear-to-ear smiles on all the "money channels"?.. They have been telling us it would hit $100 someday..and it's almost there and they are beside themselves. They want it sooo bad they can taste it.

Just like the housing market has its "flippers", the market has its speculators who love nothing more than to spin that wheel and gamble with our money...and where it stops and what we end up paying for things..nobodyyyyyy knows...or cares.. they make money either way

:grr:

[RB TexLa]

9. Oh, NO! What if it hits, 104!?!? It could be 104, 104!

[Mike03]

10. This is not a surprise

Many petroleum experts have been predicting this for three years or more. It's only a surprise for some of those "experts" on business channels like CNBC who wouldn't allow the more dire, accurate estimates about the PB cost of oil (or contrarians who recommended gold for that matter). And that was long before it appeared likely or inevitable we would go to war with Iran. Look at the spike in natural resources over the past four years, such as copper, steel, nickel, titanium, and (less inexpicably) uranium.

Things that run out run up. Look for water next.

[Horse with no Name]

11. Gold has gone up about $50/oz since October 1

and silver has gone up about $1.30/oz.

[focusfan]

12. The only business that cutting production increases profit

[GliderGuider]

14. Here's a related thread with an article about future energy supplies

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x2159635

[Mike03]

15. Kick

[Liberal_in_LA]

16. bump.

[opihimoimoi]

17. Meanwhile, we waste what we got left...WTF????

[Imagevision]

18. Bush only has 14 months to do whatever for big biz, so we can expect

a substantial increase in the cost of living index to get pretty bad because they know the next Dem prez will simply begin the make-up game... but untold billions are still at stake with bush in control, looks pretty shitty...!

[OzarkDem]

19. Even rank and file GOP'ers are getting upset with this

This has to be killing any support for the GOP and their policies.

[Robbien]

20. Before the first bomb dropped, oil was going for around $20 per barrel

What a difference an invasion/occupation makes.