Oil closes above $80 per barrel for first time

Cybergal · Sep 14, 2007

Oil closes above $80 per barrel for first time
9/14/07

Oil closed above $80 a barrel for the first time in history Thursday, setting a record for a third-consecutive day as supply worries and refinery shutdowns lifted prices.
The price of a barrel of light, sweet crude for delivery in October rose 18 cents to $80.09. That's up 12% from a month ago and 25% higher than a year ago.
Despite the gains, oil is still not at a record when adjusted for inflation. In January 1981, the average oil price was $92.91 in today's dollars, according to the government.
Drivers will likely see little impact on gasoline from the increased oil prices because demand drops at the end of the summer driving season, putting less strain on supplies. That will help temper the effect of higher oil prices on consumers and the broad economy, which today is much less energy-dependent than it was a few decades ago.
article continues.................
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http://www.usatoday.com/money/industries/energy/2007-09-13-oil-record_N.htm

Rebel Patriot · Sep 14, 2007

Just a bump before its on its way to $100-150/bbl. just ask the "informed" investment houses like Goldman-Sachs.

easyrider · Sep 14, 2007

I knew it. I knew he would have a conspiracy to tie it into. Man this guy is like a comic book.

Rebel Patriot · Sep 15, 2007

easyrider said: ↑

I knew it. I knew he would have a conspiracy to tie it into. Man this guy is like a comic book.
Click to expand...

Good and accurate information is wasted on mental slaves such as yourself. even the simplest child that googled "goldman sachs" and "oil" would have led you to reports of the investment house putting out reports of oil heading to the $100 range and beyond.

http://www.energybulletin.net/5017.html

cached from MSN newsources.

http://news.bbc.co.uk/2/hi/business/4399537.stm

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