Tuesday, April 29, 2008

I Used To Fill My VW For Less Than Two Dollars

OPEC President Sees $200 OIl

"ALGIERS (Reuters) - OPEC President Chakib Khelil does not rule out oil prices reaching $200 a barrel, even though supply is adequate, because the market is driven by the dollar's slide, Algerian government newspaper El Moudjahid reported on Monday.
"Questioned about a possible rise which would go to $200, the minister did not rule out this eventuality, explaining that this rise is indexed from now on to the fall in the dollar or to the rise in the dollar," El Moudjahid reported."

Analysts see $10 gas

"Get ready for another economic shock of major proportions — a virtual doubling of prices at the gas pump to as much as $10 a gallon.
That's the message from a couple of analytical energy industry trackers, both of whom, based on the surging oil prices, see considerably more pain at the pump than most drivers realize."

Sounds about right as the ball park estimate of how much you'll pay at the pump is 1/20 of the going price of a barrel of crude.


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