Crude up over $8.00 today hitting an all time high of $136.62. You really don't want to know what diesel and gasoline is doing right now, but I'd make a run to fill up over lunch........and take a couple of 5 gallon containers. Goldman Sachs, yeah those specs that put huge positions on European trading platforms that are not regulated came out this morning that oil will hit 150 by July 4. Of course the only reason they did this was to make some money prior to betting on the horse race this weekend. Traders need to pay for the private jet, food, beverage, strip club bill, and escorts out of their own pocketes these days. They heyday of expensing these things went away long ago. Rcord high crude, gasoline and a dismal job report along with a dollar tanking is a grave situation. Crap, now crude is up $9.00, holy crap.............now $9.58 10 seconds later. There is HUUUUUGE speculation and manipulation going on in the trading pits today. Expect to see $0.60 jumps in diesel and $0.40+ in gasoline very quickly. Either this is what we would call a blow off top in the trading business OR, based on charting, we are going to rise to............$250/bbl on crude. That's the facts folks. If it's a blow off top, we will go below 100, but not by much.
Great. They are digging their own grave by creating a global recession. Keep it up greedy mother Effers.
They wont be happy untill we are paying $5.00 a gallon. Just another example of drilling here while we are searching and can develop alternative fuels. Even the very threat of us drilling here would drop the price. When the Dems take over completely and they raise our taxes we will really be in a pinch as a nation.
I was thinking about that today... importing and exporting uses fuel too. We can't be the only ones this is hurting.
Well look at our friend Damon's post. He is so happy with the current state of things that he wants 4 more years of it.
