Oil price leaps to year's high
Predictions of $250 a barrel on fears for oil reserves, hopes of economic recovery and hedging against weak dollar
- guardian.co.uk, Wednesday 10 June 2009 20.58 BST
- Article history
Oil will last for decades, according to BP, but advocates of 'peak oil' believe reserves are dwindling. Photograph: David McNew/Getty Images
The price of oil burst through the $71 a barrel mark today amid revelations that proven reserves had fallen for the first time in 10 years and predictions that the price could eventually hit $250.
The latest high – from lows of $30 only four months ago – came on the New York Mercantile Exchange, where the cost of July deliveries rose by $1.35 to $71.36.
- Kliphnotes:
- Here we go again. Remember Obama and the Democrats don't want to drill here.
- Who will be blamed for the $3-4 a gallon? Will they blame Obama like they blamed Bush? Where is Pelosi and Schumer now?
- I believe if we drilled every place we can in the US we could be oil independent. But even if we weren't totally independent we could bring the price of oil down, a lot. But Obama and the Democrats are will not allow that. They are indebted to their far left Green Base. No oil, no coal, no nukes power plants. Increasing CAFE standards will not make us oil independent.
- By not drilling, it just makes us weaker. You can build all the solar and wind farms you want. And it will not amount to more than 5% of our power, if that much. We need more nuclear power plants. We need more coal plants. We need to drill, here!
- What would happen if we got into another world war. And our oil was cut off. What would we do? We have a strategic reserve for about one(1) month. Does anyone get it? I guess not.
ACLU Seeks to Tear Down War Memorial Crosses | ||
| ||
It’s the agonizing case of the little cross that could.
First erected on Sunrise Rock in 1934 by the Veterans of Foreign Wars in memory of the dead of all wars, the small remote symbol -- hidden away in California’s Mojave Desert -- finds itself at the center of an ideological war between the ACLU and a handful of military heroes. | ||
- Edward E. Whitacre Jr. built AT&T Inc. into the biggest U.S. provider of telephone service over a 43-year-career. By his own admission, he becomes chairman of General Motors Corp. knowing nothing about the auto industry.
Remember this: Obama FORCED GM and Chrysler into bankruptcy.
- Yesterday President Obama’s former religious mentor the Rev. Jeremiah Wright said “Them Jews Aren’t Going to Let Him [Obama] Talk To Me” Today he corrected himself. When Interviewed on “Make it Plain” with Mark Thompson, he said I didn’t mean ALL Jews just Zionists.
LOL
Has anyone noticed that since the president's Cairo speech, the Muslims now loves us.
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