Oil pushes past $80 - then edges off

Source: CNN

NEW YORK (CNNMoney.com) -- Oil edged off an earlier peak just above $80 a barrel Tuesday, as investors awaited supply data and questioned the likelihood of a continued rally.

Investors were awaiting supply data from the American Petroleum Institute due later on Tuesday. A consensus estimate of analysts polled by Reuters predicted a 2 million-barrel increase.

U.S. crude for November delivery was down 29 cents to $79.32 a barrel by 7:10 a.m., after reaching $80.05 earlier in the session.

Oil has ended higher for the past eight days, but analysts have questioned whether the recent rally is justified as crude market fundamentals remain weak. Supply has climbed steadily in recent months, while demand remains unclear pending a broader economic recovery.

Stock futures were little changed early Tuesday. Crude prices have tended to move in tandem with the stock market lately, because it is considered a barometer for the overall economy and a gauge for when oil demand will recover....

Read more: http://money.cnn.com/2009/10/20/markets/oil/

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Here it comes?

unemployment never stopped increasing

It will make a recovery slower.

Rising oil prices -> economic slowdown -> falling oil prices -> economic "recovery" -> rising oil prices -> economic slowdown -> falling oil prices -> economic "recovery" -> rising oil prices -> economic slowdown -> falling oil prices -> economic "recovery" ->

The cycles will increase in severity over time until until the economy no longer tries to recover.

Oil and natural gas supplies are at all time highs. Demand is down severely in China, US, and Europe.

Someone is getting very, very rich off of this.

...isn't it?

Add that into the mix