As you have said in other places, the prices are going to have to go up dramatically before something actually gets done about it. We haven't even seen high prices yet in contrast to what we COULD see in the future.

BAM! It finally made it to the biggie.



The price of crude oil closed over $100 for the first time yesterday on the New York Mercantile Exchange, rattling stock markets and marking a milestone in the relentless rise in petroleum prices over the past five years.

The high oil price, which rivals the inflation-adjusted peak set during the early days of the Iran-Iraq war nearly three decades ago, has drained cash from the pockets of consumers just when the slowing economy could use a spending boost. And it reinforced fears that oil prices, which have long fluctuated with political and economic cycles, may never again drop to past levels.

The price hit a new high of $100.10 a barrel before settling at $100.01 a barrel, up $4.51, when the market closed at 2:30 p.m. The price in late electronic trading dropped only slightly, to $99.99 a barrel.

LINK

Bad news! Y/day oil closed at $102.59 a barrel. Can you hear that? Gas could be as much as $4 a gal by summer. Have a nice vacation.

[font=Verdana]Guess it's a good thing I just got a decent raise ... we're driving to our vacation spot this year and it's about a 1300 mile round trip! [/font]

I may be working at a place that's 50 miles away in another week. The first two hours of my workdays are going to be paying for the gas to get there.

Wow, that really sucks! I am so glad that my apartment is less than two miles from where I work and I am payed for mileage from the office...

Flash! oil closed yesterday at $104.52 a barrel, all those Hummer owners will just have to bend over an dkiss their asses goodby or trade the guzzler in for more economical transportation.

hey----dont we supply food, widgets, or some other needed intel or commodity to these govts?---whatever happened to oil for food? i say, EVERYbody gets their back scratched, or EVERYbody can get blue ballz---and thank you to good ol ronnie reagan, who promptly turned up the thermostat and took off the sweater when he took office after jimmie, who called this debacle darn near 40 years ago---way to go

Ironic that when Carter tried to develope alternate fuels it was critized because it would take 30 years to accomplish. 30 years later its hard not to wonder how much worse things will get while the govt. drags their feet on the issue.

What's the real deal with oil prices?

*Link to competing board removed. Ask site administration before posting links to personal sites please. AP

has anyone realized how much oil russia has and what can other superpowers, mainly the united states, do to access some of those reserves?

aint iraq bad enuff? jesus!! Oil is a FINITE resource---- Big Oil got folks by the balls, and we're chasin our tails tryin to figure who wont hit back too hard when we take their candy-----spare me--- ONE company of big oil reported profits of 40 plus BILLION in a QUARTER--- i say, reign THESE bastards in, charge em with monopoly, market manipulation, whateverit takes----then sink those big honkin hardon profits into SERIOUS research, not this slap n tickle shit set out by the spin doctors to placate the sheeple

Hi!

Since it's my first post, I hope you guys don't go to hard on me.

It's interesting to watch the US politics from as far as I can. Have a great time watching those debates. Unfortunately is quite hard for me to hear all those speeches because I don’t get CNN, BCC or something similar. So I have to watch what CNN.com has to offer, or I check out YouTube. I’m hoping to be a little more up to date through this forum now.

Most interesting to me is, that the Americans are protesting against the high oil-prices. You guys pay how much for fuel? 4 to 5 $ for a gallon? That’s not really much (considering our prices). In Europe we are fortuned enough to pay about 8,3 $ for a gallon.

I really love to know what you think about that. Did you know that it was that expensive in Europe?

Yes, it has been more expensive in Europe for years. We're finally catching up to the rest of the world. It's probably good for us to be paying this much for gas right now. It will drive the market towards more fuel-efficient vehicles, and get people thinking more about their energy usage.

It still sucks, though.

That's why I bought a civic. America autos have done nothing right since the 70s. I'm not a car guy or anything but I can tell which is a better product. I see the commercials on tv about how this new car from GM or Ford gets like 28 mpg and I'm thinking, "Yea, and my civic which was made 2 years ago gets 34, catch up."