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  engineer7 months, 3 weeks ago

  Options to buy oil for $200 on the New York Mercantile Exchange rose 10-fold in the past two months to 5,533 contracts, a record increase for any similar period. The contracts, the cheapest way to speculate in energy markets, appreciated 36 percent since early December as crude futures reached a record $100.09 on Jan. 3.

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  texangelwings7 months, 3 weeks ago

  Who will be able to afford to buy gasoline in order to go to work, to doctors, groceries or heat their homes?

  With all the New oil rigs pumping away here in Texas, something doesn't make sense nor does it justify the rising oil prices! Here in Texas, there are ads in every newspaper asking for land owners who have mineral rights and would allow oil drilling to be done on their properties.

  This is all about greed and profit of a few!

  Thanks engineer.

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  engineer7 months, 3 weeks ago

  G R E E D! ! !____G R E E D ! ! !____G R E E D ! ! !

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    gamahuche7 months, 3 weeks ago

    is the only logic that works in the capitalist financial model.

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  Radiofreeeuropa7 months, 3 weeks ago

  Yet still the cast of ne'r do wells strongly opposes any change from an oil economy. Their hatred of Al Gore overides any concern for their children's future. They grasp at straws created by fossil fuel company "scientists" and oppose investing in cleaner energy sources. They further empower OPEC nations and like it. Go figure.

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  godseyeview7 months, 3 weeks ago

  if u look at the graph of oil to dollars since the beginning of the Iraq war the price has gone up 4 times, to the euro 2 times, to gold it is flat. It's Inflation people. The Fed is printing money outta thin air at massive speeds. Abolish this counterfeit robber of the average American's wealth and you'll solve our economic problems.

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  NelsonR7 months, 3 weeks ago

  Nobody mentions that oil is finite and with China, India and other countries demand for oil rising its a natural conclusion that oil will continue to rise in cost. I would love to blame the oil companies and they do deserve some blame but oil does not magically reappear after its been pumped out of the ground. OPEC and Saudi Arabia have inflated their reserved figures so the end is closer than most think. When I say end that means the glut of oil on the world market.

  Hubbard was debunked when he said America would top out in the seventies and most of his colleagues disputed that fact. Well in the early seventies it happened and Americas bell curve has been going down since. Hubbard also said that the worlds bell curve for oil reserves would also be on a downward trend, it is. Either we change our habits or a rude awakening will be upon us.

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  Harbeas7 months, 3 weeks ago

  Good old wall street and brokers! That is one of the reasons oil is going through the roof. If we had the gonads that could be stopped.

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  cowboygrandpa7 months, 3 weeks ago

  We have again seen the hand that robs us dipping into our wallets and purses.

  Thank you so much for allowing the corporations huge tax cuts for their increasing profits. While saddling us with cost of the war for oil. Yeah, Bush, Cheney the robber barons of America. Keep it up guys. There won't be an America left by the time you leave office.

  Oil will drive up the price of all things, so welcome to less, while paying more, while getting paid less.

  Don't you love how the "Republican" -I use that term loosely as I have seen very few true Republicans in a while- mind works. Greed is so good to them. They are like little children who never grew up. They always want more than they could ever use or need. They think it makes them look powerful. To me it is a sign of weakness. When you must have so much to feel better than someone else you have no self worth except your wealth.

  Enjoy it on this earth guys its going to be hell afterward.

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  Matteu007 months, 3 weeks ago

  They are just going to pass the increase cost to consumers...these record profits mean nothing. Really. World Record Profits. LOL... www.doe.gov Read for yourself. The report put together by Bush appointee does the Texas Two Step left, right, front, back and ultimately admits that mergers of 151 refiners cut competition in 1/2 and with the 2001 Highway Bill deregulating refiner profits you are now paying over a dollar per gallon in profit to refiners which are vertically integrated and this is how you get to WORLD RECORD PROFITS.

  Yes, oil will run out, but the Bush administration opposes new CAFE standards and is blocking California's effort to require cars with better gas mileage for the state. If peak oil were the issue Bush acts like it is a profit incentive.

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  HMMace7 months, 3 weeks ago

  Put your money in bicycle companys stock..

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  simonsez7 months, 3 weeks ago

  70% of the crude is controlled by sovereign nations. Oil companies buy it, process it and sell it.

  Their profits are in the range of 10% of sales.

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  Xaos7 months, 3 weeks ago

  During the summer of 2007, $200 a barrel oil was predicted for 2008 by the conspiricy theory crowd. They also predicted $100 a barrel oil by the end of the year, that mark was only missed by a few days. It certianly makes a person wonder.

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  canadianrancher577 months, 3 weeks ago

  There's something not right about this whole oil thing, I've heard that in areas where they have sour crude that they are not allowed to pump it and supplies are backing up. Up here in Canada we are hearing stories of a slowdown in the oilpatch and here in southwest Manitoba they are making some very significant finds. I have the feeling that oil isn't the only thing that is being pumped right now. As for prices on the futures markets, all I can say is "been there did that" and what I know is that they don't tell the future.

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    simonsez7 months, 3 weeks ago

    Not all refineries can handle sour crude.

    Suncor Energy seems to be running strong.

    All my growth stocks are Canadian, CR. Canada has a very bright future.

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      canadianrancher577 months, 3 weeks ago

      This is a resource based boom sort of like in the seventies, the world is far more open to trade nowdays so I hope it lasts for awhile.

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  getreal17 months, 3 weeks ago

  Oil could reach 200 dollars and a knew cheaper affordable way to travel can reach the market as well. We need to experiment. Then we will not need their oil and it can soak up their sand.

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  saadhusain7 months, 3 weeks ago

  I remember when gas went to $1.50 under Clinton. Republicans got their panties ina bunch in saying that it was too high and Clinton should bring it down.

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  vor7 months, 3 weeks ago

  A reminder that we have recently forked out close to a trillion dollars (all paid for as debt) on securing the worlds 2nd largest reserves. The only problem for the consumer is that this oil doesn't belong to us and thus OPEC and the speculators will still determine the price of all that oil. The oil companies will still get their usual profit as the middleman but the consumer will continue to get screwed.

  Add in the rise of East and their increasing needs and we are in for a fun next couple of years. Would $5.00 gas change Americans habits? Grind our economy to a halt? Sounds like we might get to see.

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  sumptuousdigs7 months, 3 weeks ago

  V.O.R. . A change in American habits? Yep, more like a move back in time, when mass public transportation was the daily routine, and the family car is for a weekend excursion.

  So many auto, and auto related industries will be aaffected drastically. Could be looking at bread lines.

  Europeans have been living with higher fuel costs for decades, and still have a higher standard of living in many countries. We may have to reassess what real freedom and happiness consists of.

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