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Crude oil rose in New York as Tropical Storm Chris, the third named storm of the Atlantic hurricane season, formed in the Caribbean.
The storm had sustained winds of almost 40 miles per hour (64 km per hour) and was about 175 miles east of Antigua, the US National Hurricane Center said at 5 AM Miami time. Chris is heading west-northwest, toward the Gulf of Mexico, where offshore rigs provide about a quarter of US oil production.
Originally posted by R3KR
Those oil ceo's need to be shot.....im serious!
Originally posted by leapofdreams
I have to state i agree 100%. Did you see where OPEC stated that there was no reason for the continued rise in price per barrel due to conditions in the Middle East. What does that say when OPEC itself is saying we are making enough profit and do not need to continue to raise crude prices.
However i am sure you have noticed that OPEC statement has had no effect on American oil policy or price. I believe as long as the leader of this country are holding substantial stock in petroleum or petrochemical industry we will never see and end to this.
And once it gets to a point where the majority can no longer afford to go to work they will simply start acquiring properties of all the working class. I often wonder if this was nto the plan from the start.