http://www.msnbc.msn.com/id/12400801/

They finally did it. $100 per barrel for oil. Now that that benchmark has been broken, where to next?

It's mostly all speculation that's driving oil up like crazy, so whatever.

Looks like gas will be up 50 cents to a dollar again this year. I'd say that we'll definitely see $4/gallon at least briefly during the summer of 2008 until it settles back to a "resonable" $3.50.


Mike

 

Yep...the longer you stick your toe in the water the more you get used to the cold. It will much easier for them to cross, and stay, beyond the $ 100.00 threshold now.

 

Something that really makes me curious- I keep hearing about the exploding popularity in personal vehicles in China.

I have to wonder if they're paying the same amount for gas we are (probably not), but if it's anything close how the hell can they afford to drive anywhere? Some of those people make the same amount per day that a gallon of gas costs here.

But, being a communist state, I'm sure it's super cheap or they have fuel allowances or something...

 

you know what the killer is??????? and this will kill ya, its over a 100 bucks today due to the fact that nigeria and algeria, which are opec related nations, currently is going through there yearly ethnic cleansing rituals. close to a 1000 people have died in the last day or so.

so no hurricanes, no "real" wars going on, no major natural disasters (although some may call this a natural disaster, ethnic cleansing)

just some good ol population control is going on

 

it kills me how when they announce that oil prices have gone up they feel they have to explain their reasons. Back in 2004 when oil first started going up we were gullable and needed to hear why. Now AFTER YEARS of going up and down it wouldn't surprise me if when they decided to raise prices someone would spin a big wheel and use the excuse it landed on.

 

As much as i don't like filling up my truck at the pump, if oil fell to 10 bucks a gallon, id be out of a job and my bonuses wouldnt exist.

So, by that, im fine with it.

 

Those are conveinent little wars to keep the gas prices up.

 

Yep , my oil stock went up .Even though it is Canadian oil from where the U.S. gets a majority of it's oil . So how does this equate to the price of mid east oil .It doesn't .All the oil companies need is another lame excuse to hose us .I have been driving less .A 12 cent increase overnite .WTF

 

Check this chart out.

Gasoline prices from various countries from 1996 to now...

http://www.eia.doe.gov/emeu/international/gas1.html

Glad I don't live in Europe

 

I heard to expect $4.00 a gallon by middle of February, i sure hope not....But what really bugs me is the fact that when the price of oil goes up lets say during the trading day, some how the price at the local gas station ends up going up also even though that is the same gas thats been in the holding tank at the station for the past week. It doesn't make sense to me that they can change the price of that gas whenever. I really think there should be a law prohibiting this day to day price changing and instead it should be limited only to when the gas station is refilled then the price will change and will stay that until the next time the station is refilled.

 

Gas went up $ 0.12 from the morning to the afternoon at one gas station I noticed yesterday. Didn't bother to check the other ones.

 

These are the two things that bug me the most.

Most of our oil comes from Canada and South America from what I heard. Why the **** does mideast instability affect the price so much, then?

And, the whole raising the price as soon as the price on the stock market goes up. Again, should be illegal to jack up the price on something that was already bought for X amount.

 

peeople who need home heating oil, buy it now....if you already not locked in on a price

 

capitolism.....

I've raised my wood prices on current inventory When I know my next truckliad is going to have an increased price. ..... Doing that also prevents people from bitching that X specie of wood was DRASTICLY less the last time they bought it

 

Thats just solid business. The price you are paying is not the cost of the fuel that they paid, you are paying the 'cost of replacement'. They are just keeping ahead of the game. They effectively make more on what they bought in order to pay for what they will need. You cannot fault them for that.