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 Gas jumps above $3.67, oil passes $126 on Venezuela concerns
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Gas jumps above $3.67, oil passes $126 on Venezuela concerns

Money – Oil rose above $126 a barrel for the first time Friday, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Venezuela could cut exports from the OPEC member. Gas prices, meanwhile, rose above an average $3.67 a gallon at the pump, following oil's recent path higher.

Tags: Gasoline Prices, Oil, OPEC, Venezuela

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The USA should organize the world and confront OPEC to raise the amount of oil inventory so the world can get oil with out the extortion that OPEC has built into the price. This is a main priority even if it results in military action.If criminals have got control of the oil supply then it is time to stop this criminal enterprise.Raising the price of oil is not a fair or just way to ration oil.I can't believe that our government has stood by and participated in this criminal behavior.

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The financial media fuels the fire also with a fever pitch and only one side of the story. Its like the Fin. media are working for the big hedge funds.

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Interesting that the article fails to mention that the US is the only one able to refine Venezuelas heavy crude.

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You mean outside of Venezuela, of course.

Venezuelans pay less than a tenth of what we pay for gas. That aint because they cannot refine their own.

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From an article:

Venezuela is woefully incapable of refining even a small part of its crude domestically, so it must export that oil to countries where it can be refined.

http://www.freerepublic.com/focus/f-news/193305...

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I hope the $hit goes so high that nobody can buy it, then it'll just sit there and they can choke on it. These bas%ards won't be happy until they break the back of this country, and bankrupt everyone in it. They play this game of raising the prices incrementally every day. Why not just raise it up where they want it. It's not like anyone is going to do anything about it.

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The cheapest way to start saving money on oil, no subsidies for anything that doesn`t get over 50mpgs. Instead, provide thousands of dollars in rebates, at the point of sale, for vehicles that get 50mpgs or more. For every 10mpgs over 50mpgs, double the rebate. If the rebate is greater than the cost of the car, the buyer gets the rest in cash. This will spur on a car efficiency race, may the best car maker win.

Where does the money come from?

Less $ to oil, less corruption in America and less funding for terrorists abroad. Less terrorist money = less terrorist bombs and guns, means less American dead GIs and many times the cost of the rebate. We`re spending several billion a week in Iraq, and the costs are only rising.

An ounce of prevention is worth a pound of medicine.

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See - " Where do oil prices go from here " ?

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Start charging $15 per gallon for every SUV, especially FORD Expedition, Excursion, LINCOLN Navigator, GMC Denali, NISSAN Armada, TOYOTA Sequova, LEXUS every model.

Most of the time, these vehicles are driven by a single driver. If they can afford to do it, they should be able to fill them up too.

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