that is right boys and girls….price of a barrel of crude just set a new high mark. Oil jumped to a fresh record high above $74 a barrel on Thursday after a steep drop in U.S. gasoline inventories fueled fears of tight summer supplies at a time of growing anxiety over Iran’s exports.
The United States government on Wednesday reported a larger-than-expected drop in gasoline inventories of over 5 million barrels, adding to concern created by the shutdown of almost a quarter of Nigeria’s oil output and the row over Iran’s nuclear program. You gotta love a global economy these dayz and geo-politics…my prediction is that we will hit $100 dollars a barrel by June 1st…any other predictions out there?? Iran, Nigeria and Venz. are making it hard for us to buy cheap gas these days.
But the truth is that is what it will take for people to begin to wake up on this ‘gas addiction’ issue. People are not going to begin to conserve gas until we are all paying $4-5 bucks a gallon. This will anger the public which will force the auto makers and oil industry to begin to react…..who knows it may cause us to take a serious look at alternative fuels and cars. Lastly, I saw a man on a moped this morning to work….I use to laugh at that….but now I think to myself how smart this guy is (assuming that is guy is not a DUI case and that is why he is riding a moped) saving money by doing that while the rest of us are paying more and more to fill up the tanks! I think he is laughing at us…..
Add The Sports Daily to your Google News Feed!
