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crude oil's record ascent to solidly above $121 per barrel
cavelamb himself wrote:
Rex wrote: Gunner wrote: On Mon, 19 May 2008 15:40:29 -0500, Rex wrote: Here's the scoop: http://newsletters.businessweek.com/...7358934ad36&25 Crom!!!! You mean its NOT Bush's fault???????? Well, not yet. In a few weeks it will be. Certainly by November. $132 a barrel this morning. I don't care who's fault it is. It's speculators. The world is awash in unsold crude right now. Iran is storing unsold crude in tankers offshore. Saudi's told Bush they weren't increasing production because there was no need, and Bush knew that. U.S. consumption is lower than a year ago. |
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