OIL hits record $60 a barrel mark

[Bluebear]

NEW YORK - Oil prices struck a record $60 a barrel on Thursday as worries that strong demand growth will strain global production capacity drew in a flurry of speculative fund buying. U.S. crude futures on the New York Mercantile Exchange rose $1.91 to $60 a barrel before settling up $1.33 at $59.42, bringing gains this year to 38 percent. London Brent crude on the International Petroleum Exchange rose $1.38 to $57.96.

http://news.yahoo.com/fc/business/oil_and_gas

[justinsb]

1. There was an oil market analyst on CBC yesterday

who said that if there is any disruption (broken pipelines in Iraq etc) that oil could hit $100 a barrel this summer, he also said that OPEC can decide to increase capacity all they want but that the reality is that most OPEC countries are already operating at full capacity - Bush or no Bush it's not going to improve much...this is the "New Normal" of the energy market.

[Burried News]

2. Howiin theee heel amah supposed to git mah keeds to scual?

You don't need no education you just need some thought control.
All in all its
Just another brick from the wall.

[ClintonTyree]

3. Looks like it's time for Junior....

to do some more "jawboning" with the Saudis! :eyes: Isn't that what he said he'd do if there was an oil shortage? :shrug:

I thought they already HAD opened the spigots? Were Junior and his pals, the Saudis lying to us, AGAIN? :wow:

[Tux]

4. Maybe

Bush needs to do more than hold the Prince's hand. Laura might be mad but we'd have our oil.

[Betty]

5. She probably would be relieved

if someone took her idiot husband off her hands.