Almost 2 bucks in 24 hours....do the math. There is 365 days in the year. We are on 185th day of the year. That leaves 180 days left to the end of the year. Remove the weekends and that leaves about 130 days. If oil rises just one dollar per business day till the end of the year, 1 barrel will be about $275 dollars. Now that sounds insane.
But is it really far fetched as fast as the price on a barrel is rising?
I wonder what the price of gas would be. Prob about 8 bucks a gallon. I wonder if cars would still be on the road...
I will say that the projected 175 a barrel by Xmas is very real...
Fix the problem and stop giving the oil companies profits. No off shore drilling. That is just like giving a drug addict more drugs when trying to get them off the drugs. It doesn't work!
Oil soars to record near $146, then eases as dollar strengthens; US gas prices hit new high
NEW YORK (AP) -- Oil prices briefly soared to a new high near $146 a barrel Thursday, extending the previous day's record-shattering rally before easing somewhat as the dollar gained ground against the euro.
Americans hitting the road for the July Fourth holiday were confronted with an unwelcome record of their own: The average retail price for regular gasoline jumped to within two-tenths of a penny of $4.10 a gallon, according to AAA, the Oil Prices Information Service and Wright Express.
Light, sweet crude for August delivery added 80 cents to $144.37 on the New York Mercantile Exchange. Earlier in the session, it rose as high as $145.85 a barrel, topping a trading record set the previous day.
http://biz.yahoo.com
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