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Oil hits $100/barrel

X3pilot

Texans fan - LOL
Aug 13, 2007
5,861
0
SoMD
OK, a few technicalities. The Cushing index closed at 100.01. This is based around the Cushing, OK oil terminal and is based in a large part on a typical trader chicken little reaction to the refinerery fire in Texas.

The other reasons are varied and many based on the whims of the traders. Venezula, OPEC, whatever.

Prayyour next President undoes whatever Cheney did at his "secret" energy talks in early 2001 that started us on this uphill battle.

The best thing that could happen is retract the Bush admin policy that allows the current trading rules. In other words, restrict buying of oil futures to those who can and will actually take possesion of that barrell of oil they just bought.

Worst case, expect record gas prices. Track the wholesale prices of gasoline (RBOB) futures and watch those, they will affect you faster and worse than oil. Today, gas futures closed at a record 2.60 per gallon. That's wholesale, folks..add 40-60-70 cents per gallon depending on your state/locality taxes..
 

N8 v2.0

Not the sharpest tool in the shed
Oct 18, 2002
11,007
149
The Cleft of Venus
You root for the dumbest things......not surprisingly of course.

I don't think anyone would be surprised to read: "Awright! My herpes is flaring up!!"
i'm just sayin that at $100+ per barrel, our local prices are still largely uneffected aside from a few pennies increase since last week.




















for now
 

$tinkle

Expert on blowing
Feb 12, 2003
14,591
5
filled up my suv yesterday & vw today (not for this occasion, just happenstance)
I don't think anyone would be surprised to read: "Awright! My herpes is flaring up!!"
it means he got laid.
silver lining much?