Oil hits $78 a barrel

[Brandon]

Oil today topped $78 a barrel. Even though the economy is slowly chugging along, lowered oil prices would certainly help businesses increase their profits and operation costs. Industries such as transportation and airlines have been hit the hardest with the cost of oil eroding their bank accounts.

http://money.cnn.com/2006/07/14/markets/oil/index.htm

 

[Jim]

A giant pile of idiomatic sh*t hit the fan in the Middle East in the past couple days, and the conflict is escalating by the day. I'd expect oil prices to increase a great deal over the summer and proportionately as the conflict worsens and involves more countries.

 

[Brandon]

Stop agreeing with me. Otherwise I will have to put my uber-capitalist face on and I know you hate that face.

 

[sushimonster]

i thought you guys had opposing viewpoints.

With all the crap going on in the middle east and the storms that hit the gulf. I don't see oil going down anytime soon.

 

[LyricB]

Gas prices have suddenly gone down quite a bit here in the Midwest. I paid $2.49 the other day, but my brother in California tells me he's shelling out $3.30.

 

[Brandon]

Is it me or do the blue states typically pay more for gas than the red states? It might just be my imagination!

 

[sarah]

It does seem that way doesn't it?
I'm not sure if that is actually true, but it feels like it.

 

[LyricB]

I think you may be on to something. When my mom came out to visit the last time she said the exact same thing, although in a much more conspiratorial way.

 

[palefrost]

What do you expect. Special interest money during the campaign trail has its strings attached. It wont change either.

 

[LyricB]

Yeah, that's a good point. It just seems kind of weird that it would be so.

 

[Adrian MacNair]

Gas is down to $1.02 pre litre in Canada. Of course, things could dramatically change based on a number of factors, all of which have to do with U.S. foreign policy: Iran, Iraq, and Venezuela.

 

[LyricB]

Gas prices have steadily dropped around here...I paid $2.31 the other day to fill up. What's going on?

 

[Brandon]

Look at crude oil prices. Oil is going down but it is still in a uptrend. Be forewarned, higher prices are coming!

 

[tater03]

I hope they wouldn't go up, but we know how that is. Right now gas prices seem to be going down around here. Thank god.

 

[LyricB]

They're still going down here steadily. Someone told me one of the oil companies found an untapped supply that is driving prices down.