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brentspeak Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-27-08 08:53 PM
Original message
Oil strikes new record near $120 on supply fears
Source: Reuters

Oil strikes new record near $120 on supply fears

2 hours, 43 minutes ago

PERTH (Reuters) - Oil struck a record high at $119.93 a barrel on Monday, extending the previous session's rally, as a strike closed a major British oil pipeline and as fresh violence in Nigeria reignited supply fears.

Simmering geopolitical tensions between the United States and Iran also helped boost oil prices.

U.S. light crude for June delivery rose 81 cents to $119.33 by 2249 GMT, after striking a lifetime high of $119.93 a barrel at the start of Globex electronic trade.

Read more: http://news.yahoo.com/s/nm/20080427/bs_nm/markets_asia_nymex_dc



A "duh!" observation: Anyone want to bet that Bush's cronies, since the time he assumed office, have made an unbelievable killing speculating in oil commodities? Is there some way the public can have access to Oil Can Cheney's investment portfolio?
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UndertheOcean Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-27-08 08:54 PM
Response to Original message
1. If I fart right now , Oil will rise $3
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Javaman Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-28-08 10:13 AM
Response to Reply #1
7. Damn!! get the bean-o fast!!! nt
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thunder rising Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-27-08 09:02 PM
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2. hmmm...looks like the Hunt Brothers have discovered oil.
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dantyrant Donating Member (278 posts) Send PM | Profile | Ignore Mon Apr-28-08 02:51 AM
Response to Reply #2
4. Actually...
Hunt Oil was in the news recently, for having signed deals with the Kurds without the approval of the Iraqi parliament.
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Snarkoleptic Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-27-08 09:08 PM
Response to Original message
3. As per plan.
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rambler_american Donating Member (565 posts) Send PM | Profile | Ignore Mon Apr-28-08 06:06 AM
Response to Original message
5. In case anyone still wonders...
http://www.moderateindependent.com/v1i18hwbush.htm

In reality, we see clearly that the reason no one foresaw the crisis and that nobody "in power started talking about an energy problem" until mid-2000 was because there was none to talk about. In fact, at no point was there ever an energy problem. As would be the situation in California the following summer, lack of energy had nothing to do with the problems that occurred. The only thing that was at fault were people conspiring to create a seeming crisis so as to drive prices through the roof.

As Enron did a year later, Bush's Gulf War allies and US oil company friends conspired to create a crisis that no one could have foreseen, that helped to shape - and very possibly decide - a presidential election, and gave countless wealth to those who participated. And the campaign of George W. Bush took advantage of it at every turn, casting blame on those who had no part in the problem, and presenting themselves as heroes who would save America from the crisis their friends and allies had drummed up in the first place.

This was manipulation of markets and elections at its worst. And while the rest of the media has given the Bushes a free pass on it, we at The Moderate Independent are now here to report the actual news, comprehensively and in its full context. This should be the biggest story of the millennium so far. Now we are putting it out there so it may be.


And the $600 tax rebate being printed as we speak will go directly to the oil crooks.

At least the war on the middle class is going well.
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Gonnuts Donating Member (525 posts) Send PM | Profile | Ignore Mon Apr-28-08 07:27 AM
Response to Original message
6. Let's invade another oil-rich country!
Oh, wait, we're getting ready to! It's not an "if" folks, but "when", unless of course a miracle happens and the American people can pry themselves away from the boob-tube long enough to do something about it. Other wise look for Marshall Law, $8 a gallon gas, conscription, food riots, mass imprisonment of descendants, total collapse of world economy, merging of Mexico, Canada, and United States currencies into the AMERO, and Pres. John McInsane.

So I guess we don't stand a chance.
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