Oil Hits $96 Per Barrel
My wife and I raised our rates on our clients last year for the first time in years and I jokingly said to our clients “Don’t worry, we won’t be raising our rates again for a long time…unless oil hits $100 a barrel.” We all laughed good-naturedly, never expecting that to happen within at least 5 years… ~Bash
LONDON- The price of oil rose to a record above $96 a barrel Thursday after a surprise drop in U.S. crude stockpiles raised concerns about supplies for coming winter demand. Other energy futures also gained.
It was the second week in a row the U.S. Energy Information Administration reported a sharp and unexpected drop in oil inventories.
“The decline in U.S. crude oil inventories has been a key driver of oil prices,” said David Moore, commodity strategist at the Commonwealth Bank of Australia in Sydney.
Light, sweet crude for December delivery rose as high as $96.24 a barrel in electronic trading on the New York Mercantile Exchange, before dropping to $95.28 a barrel by afternoon in Europe.
(AP)
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“…It was the second week in a row the U.S. Energy Information Administration reported a sharp and unexpected drop in oil inventories.”
How the fuck does THAT happen???
November 1st, 2007 at 8:49 amWe’re all being screwed without getting a kiss. no way this has happened naturally. they started conditioning us a few years ago about how it will eventually hit 100 bucks a barrel. I believe they knew this was going to happen so they got us used to the idea so we didnt get shocked and freak out about it. wonder what we can do about this? any suggestions
November 1st, 2007 at 9:23 amtime to deal with the mullah or to devaluate the dollar
(I am already away:eek:)
November 1st, 2007 at 9:34 amTime to reexamine electric cars!!!!
November 1st, 2007 at 10:31 amhave we move our inventories into a strategic reserve? when we wack the iranians you know they will try to shut down the gulf
fun baby fun
November 1st, 2007 at 10:40 amYeah?
November 1st, 2007 at 10:41 amHow’s public transportation and that bicycle working out for you while you’re ‘reexamining’??
“time to deal with the mullah or to devaluate the dollar”
WTF??
That the price of oil was headed toward $100 and maybe beyond was not surprising. Most economies of the world are booming which is driving demand skyward.
November 1st, 2007 at 10:49 amWhat I was asking is how does “unexpected” happen re the “sharp” drop in the “U.S. crude stockpiles”.
at the moment,this doesn’t affect us much, as the euro is getting higher each time the dollar goes down
November 1st, 2007 at 11:38 amWell now. Anyone remember Ackimadidy saying he would ensure oil prices would hit 200.00 per barrel? The news of this increase on the heals of Saudi Arabia wanting to help Iran with their nukes sits a bit uneasy with me. I feel its time to pull the plug on Saudi Arabia and say FU to the tree hungers and start drilling up in Alaska and off the Gulf Of Mexico. JUST until we can find a DECENT oil alternative. Come on, we live in the USA. We have the BEST and Brightest here. Does anyone truly believe there isn’t an alternative we can figure out?
November 1st, 2007 at 2:34 pminsane
November 1st, 2007 at 3:28 pm