Oil Prices Spike to Record $105.10 »
Posted By engineer 1 year, 8 months ago in Business & FinanceOil Prices Spike to Record $105.10 in Wake of Supply Report and OPEC Production Call
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engineer
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My background is Biomedical engineering with an MBA As you know from all my comments where I almost stand politically. I have loads of ...
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engineer1 year, 8 months ago
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Oil prices hit a record $105.10 a barrel Thursday, a day after a surprise drop in U.S. crude supplies and a decision by OPEC not to boost production.
Prices gave up some ground by midday trading in Europe. Light, sweet crude for April delivery was still up 11 cents to $104.63 a barrel in electronic trading on the New York Mercantile Exchange.
On Wednesday, the April contract had jumped $5 to settle at a record $104.52 a barrel and later rose to $104.95 in post-settlement electronic trading.
Earlier this week, oil prices broke the previous inflation-adjusted price record of $103.76, set in 1980 during the Iran hostage crisis.
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engineer1 year, 8 months ago
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This means that since there are 42 gallons in a barrel, the cost per gallon,out of the ground is now $2.50 per gallon. That's before shipping refining and distribution and mark ups.
In 2000 it was only $18-$25 per barrel. This means a four to seven time increase 400% to 700% increase. Have your wages gone up to keep up? Remember when this happened!!
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dicpol1 year, 8 months ago
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Watch video how to make money thanks to record prices to oil!!
http://video-info.info/news/oil_money
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Harbeas1 year, 8 months ago
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this is criminal. It is beginning to affect our lifestyle and our well being. Thanks to good old American greed and the power the oil companies have over our politicians we have never developed an energy policy. We are now reaping the benefits of that.
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not2needy1 year, 8 months ago
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Most of us Americans are out of shape anyway, maybe some walking and bike riding is in order.
The oil companies are doing exactly what our govt is allowing them to do. If we stop using they would have so much in stash, they would have to lower prices to get rid of it.
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jgss1 year, 8 months ago
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There will come a day soon when the oil contries will pay for their actions and the speculators will no longer have anything to speculate on. Alternative power is moving more swiftly than they may realize and everyone will clearly remember those who gouged us. The higher the price the greater our motivation to reduce our dependence on foreign oil and that day is soon.
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