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Roland99 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 05:15 AM
Original message
Oil prices cross $130 a barrel for first time ever.
Edited on Wed May-21-08 05:33 AM by Roland99
Source: CNN Money

http://money.cnn.com/2008/05/21/markets/oil.ap/index.htm?postversion=2008052106

Oil prices rose above $130 a barrel for the first time Wednesday as supply concerns mounted and the dollar weakened.

U.S. crude for July delivery traded as high as $130.25 a barrel in electronic trading. The July contract closed at $128.98 in the floor session.

The dollar had become less of a factor as attention turned to supply and demand concerns, but that seems to have changed this week.

"We've seen an about-face turn on the dollar in the last couple of days," said Mark Pervan, senior commodity strategist at Australia & New Zealand Bank in Melbourne.




Read more: http://money.cnn.com/2008/05/21/markets/oil.ap/index.htm?postversion=2008052106


CNBC ticker showed it hitting $130.40 just a moment ago.

Wholesale gas at $3.33/gal, too. I fully expect gas here in Louisville to top $4.00/gal all over the city today.

Crude inventories expected to RISE by 900,000 barrels and gasoline inventories are expected to RISE by 500,000 barrels. Soooo...where is the pressure for prices to rise??

Oh, I know.

That pressure doesn't exist! Just pure greed from speculators and commodities traders.


yay for us.
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Dr.Phool Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 05:35 AM
Response to Original message
1. It's way past time to stop unnecessary driving.
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The2ndWheel Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 05:50 AM
Response to Reply #1
2. Who gets to define unnecessary?
If the gas is cheap, and the technology exists, most people will use the ability to get places quickly and whenever they want.
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Dr.Phool Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 05:57 AM
Response to Reply #2
4. The people who are doing the driving.
Drive smarter.
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The2ndWheel Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 08:13 AM
Response to Reply #4
12. That would just make gas a little cheaper
Allowing it to be wasted unnecessarily again.
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Voltaire99 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 05:53 AM
Response to Original message
3. I smell SUVs rotting in the sun!
And guess what?

I likes me some rotting SUVs.
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tabasco Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 06:02 AM
Response to Original message
5. Mission Accomplished!




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GliderGuider Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 06:16 AM
Response to Original message
6. Still on track
From Oil Prices in 2012:
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old mark Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 06:35 AM
Response to Reply #6
8. I predict gas prices over $6 a gallon early next year, possibly even by Thanksgiving this year.
for premium gas.
I believe the prices will go to over $8 and stay there.

mark
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Eurobabe Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 06:34 AM
Response to Original message
7. Thankfully I just replaced my back bike tires
Edited on Wed May-21-08 06:34 AM by 48percenter
although I woke up to a flat this morning. :(

I don't take any unnecessary trips anymore, and I live overseas. I only drive when I have to. Gas is $8.85 a gallon here (with exchange rate figured in) -- I've got the money, I just choose not to put cash in the pockets of the oil companies and destroy the environment.

Bike it or take public tranny! That's my new motto.
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Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 08:00 AM
Response to Reply #7
11. Way to go.
I suggest also:

· Nationalise the US and others' oil industries now (under strict bottom-up democratic controls, if possible);

· Tax gasoline European/Canadian style in the US (with spending of proceeds on health/education/public transport/infrastructure mandated & spending on military/police state etc. prohibited).
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Stuart G Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 07:31 AM
Response to Original message
9. So???????
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meow2u3 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 07:48 AM
Response to Original message
10. Make the oil speculators and commodites traders drink it!
Edited on Wed May-21-08 07:49 AM by StopThePendulum
If they want to act as oil and gas are like champagne--just for the rich, let's treat'em that way. Force them to drink some oil, or gas; it's their choice. :evilgrin:
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dysfunctional press Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 09:07 AM
Response to Original message
13. why is it even news anymore when oil prices break another "record high"?
:shrug:
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CatholicEdHead Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-21-08 11:07 AM
Response to Original message
14. It peaked at $132.08 in electronic trading today
See the SMW thread.
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