that is right boys and girls....price of a barrel of crude just set a new high mark. Oil jumped to a fresh record high above $74 a barrel on Thursday after a steep drop in U.S. gasoline inventories fueled fears of tight summer supplies at a time of growing anxiety over Iran's exports.
The United States government on Wednesday reported a larger-than-expected drop in gasoline inventories of over 5 million barrels, adding to concern created by the shutdown of almost a quarter of Nigeria's oil output and the row over Iran's nuclear program. You gotta love a global economy these dayz and geo-politics...my prediction is that we will hit $100 dollars a barrel by June 1st...any other predictions out there?? Iran, Nigeria and Venz. are making it hard for us to buy cheap gas these days.
But the truth is that is what it will take for people to begin to wake up on this 'gas addiction' issue. People are not going to begin to conserve gas until we are all paying $4-5 bucks a gallon. This will anger the public which will force the auto makers and oil industry to begin to react.....who knows it may cause us to take a serious look at alternative fuels and cars. Lastly, I saw a man on a moped this morning to work....I use to laugh at that....but now I think to myself how smart this guy is (assuming that is guy is not a DUI case and that is why he is riding a moped) saving money by doing that while the rest of us are paying more and more to fill up the tanks! I think he is laughing at us.....
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4 comments:
I say we just take over all the oil in the middle east, we need it more then they do
word is expect to be payinh $4 a gallon by next summer. my advice to all is boycott exxon and mobil...as the largest distributers this side of the globe they will have the most impact on lower prices if no one shops there. they get no business, they lower price, que price war, you get the idea. not saying itll work but anythings better than grabbing your ankles every time you top off
Actually, Exxon and Mobil are the two selling gas cheaper than the others. Because they have such a large market share, they can afford to undercut their competitors in a time when everyone is looking for the cheapest gas in town!
I am certainly concerned about Exxon/Mobil with the recent publicity about their outgoing CEO receiving a very generous compensation package in the vicinity of $500 million dollars. It is amazing that the supply is so low that they have to up the prices to buy enough and then make record profits since Hurricane Katrina. As Ricki Ricardo would say, "You've got some 'splainin to do."
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