Wednesday, January 2, 2008

Oil Futures Rise to $100 a Barrel

Crude Futures Hit Record $100 a Barrel on Supply Concerns After Violence Breaks Out in Nigeria   CLICK HERE 

 

Commentary

Robert R. Barney

What does this mean?  It means that eventually, everything you buy is going to go up in price. Shipping costs are skyrocketing out of site. Some experts claim that a gallon of milk will be $7-8 by spring. Unless our government opens up American oil fields and break up the monopolic oil industry, we are going to see $5.00 gas by summer. Recession will follow. Here is my take. 2008 is an election year so don't be surprised if you see much more government involvement to get the price of crude under control... We will see soon!

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