Oil edges towards $128 a barrel

[Bindare_Dundat]

Oil prices have hit a record high approaching $128 a barrel on speculation that China will need to import more fuel, stretching supplies.

With more energy needed to rebuild areas devastated by the earthquake this week, US light sweet crude hit $127.82 a barrel before falling to $126.29.

Prices were also supported by Goldman Sachs forecasting that oil would reach $141 a barrel later this year.

London Brent crude also rose, touching $125.82 a barrel before also slipping.

"Tight supply conditions continue to be the primary catalyst for higher crude prices," Goldman Sachs analysts said.

The bank had previously predicted that US crude would reach $107 a barrel in the second half of the year.

Earlier this month, Goldman Sachs predicted that oil could reach $200 a barrel in the not too distant future

[War-Horse]

You guys heard that bush asked the saudis to increase production to lower the prices in the US.?

They replied:" Weve given you 300,000 extra barrels a day you dumbass, the price is high because its a speculation now"

The amount of oil used in the USA is over 85,000,000 barrels a day!!!    Horrendous..

[Tre]

The Saudi dude told Bush to shove it up his ass. 

Was this just for show, or did Bush really go to bat for America? 

I find a hard time believing this was a genuine request.

[Bindare_Dundat]

The amount of oil used in the USA is over 85,000,000 barrels a day!!!    Horrendous..

Wow, I didn't know it was THAT high.

[War-Horse]

Wow, I didn't know it was THAT high.

I saw it on david gibson ABC news tonite.  I better check on that, tho.


http://maps.unomaha.edu/Peterson/funda/Sidebar/OilConsumption.html    Sorry, Its 20,000,000 a day. 



More current.......http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.html

[240 is Back]

we've been filling the strategic reserve, for a rainy day.

it's why prices have been so high.

hilary said she'll open it in 2009.  Bush said today it's time to stop filling it so prices can drop back down. 

[The Coach]

Oil prices have hit a record high approaching $128 a barrel on speculation that China will need to import more fuel, stretching supplies.

With more energy needed to rebuild areas devastated by the earthquake this week, US light sweet crude hit $127.82 a barrel before falling to $126.29.

Prices were also supported by Goldman Sachs forecasting that oil would reach $141 a barrel later this year.

London Brent crude also rose, touching $125.82 a barrel before also slipping.

"Tight supply conditions continue to be the primary catalyst for higher crude prices," Goldman Sachs analysts said.

The bank had previously predicted that US crude would reach $107 a barrel in the second half of the year.

Earlier this month, Goldman Sachs predicted that oil could reach $200 a barrel in the not too distant future

It's Bush's fault.

[OzmO]

It's Bush's fault.

Yes, becuase 9/11 is Clinton's fault.   

[Neurotoxin]

Oil prices have hit a record high approaching $128 a barrel on speculation that China will need to import more fuel, stretching supplies.

... oil will be down to 70 by christmas time. Energy was brought up to compensate for real estate mini meltdown.

[Bindare_Dundat]

He meant Christmas 2212, after we finally come up with an energy solution.

[War-Horse]

we've been filling the strategic reserve, for a rainy day.

it's why prices have been so high.

hilary said she'll open it in 2009.  Bush said today it's time to stop filling it so prices can drop back down. 

Since theres a 3 month lag before it hits........just in time for elections!!!!!!!!!!!     Gawd hes so predictable.

[240 is Back]

Since theres a 3 month lag before it hits........just in time for elections!!!!!!!!!!!     Gawd hes so predictable.

hahahahaha good call! 

And people will be stupid enough to believe it again....

actually, no.  Thanks to the web, I think most will realize it, and there will be thousands of bloggers and youtube clips to illustrate the method.