Oil price over $61 on Iran, supply concerns

Oil price over $61 on Iran, supply concerns

Source Link: to day.reuters.com

NEW YORK (Reuters) - Oil climbed above $61 to a 2007 high on Friday following a sharp drop in fuel stocks in the United States and as tensions over Iran's nuclear program stoked supply concerns.

U.S. crude was up 33 cents at $61.28 a barrel at 1911 GMT after trading as up to $61.80, the highest level since December 26, in earlier activity.

(visit the link for the full news article)

Well here we go again people.

Gas will soon be back to $3.00+ per gallon. I guess some fat oil ceo needs a few billion more in the bank.

Well the Oil companies and the speculators playing the futures market must be loving that. I doubt they were happy with prices dropping.

Hello, your dollar is crashing under its extreme debt burden. It's called hyper inflation. Everything just got more expensive, gold, silver, copper, grain, rice, lumber, etc.
12 billion of 100 dollars bills lost in Iraq? Your gov't has got the printing press in overtime.

Got Gold yet? Thats real money, no fiat paper military script on the SS. American taking a maritime voyage in a constant state of war.

Get a blacks law dictionary, learn up about the Wiemar Republic.
1938 Germany-------2006 America. Rheistag(spelling?) parliament fire then & 911 now! You even carry the Roman sceptre with the Eagle via Wall Street and your Congress, just like Nazi's & the Roman Legions. You are about to become the New and Final Reich. This always happens during an economic collapse.
What do you think the anti-terror legislation is all about? You don't really believe goat herders living in Afghanistan caves are really gonna get you?
The civilian detainment/re-education centers they have been building are for you! (concentration camps) The Holy Roman Empire is trying to make a comeback. Notice how the majority of illegal immigrants are Catholic? A protestant Canadian or a Turkish Muslim still has a hell of a time crossing the Northern Border. Anyone from the South can just walk in.
The Vatican Jesuit NWO fascist take over has begun.

Originally posted by BattleofBatoche
Hello, your dollar is crashing under its extreme debt burden. It's called hyper inflation. Everything just got more expensive, gold, silver, copper, grain, rice, lumber, etc.
12 billion of 100 dollars bills lost in Iraq? Your gov't has got the printing press in overtime.

Got Gold yet? Thats real money, no fiat paper military script on the SS. American taking a maritime voyage in a constant state of war.

Get a blacks law dictionary, learn up about the Wiemar Republic.
1938 Germany-------2006 America. Rheistag(spelling?) parliament fire then & 911 now! You even carry the Roman sceptre with the Eagle via Wall Street and your Congress, just like Nazi's & the Roman Legions. You are about to become the New and Final Reich. This always happens during an economic collapse.
What do you think the anti-terror legislation is all about? You don't really believe goat herders living in Afghanistan caves are really gonna get you?
The civilian detainment/re-education centers they have been building are for you! (concentration camps) The Holy Roman Empire is trying to make a comeback. Notice how the majority of illegal immigrants are Catholic? A protestant Canadian or a Turkish Muslim still has a hell of a time crossing the Northern Border. Anyone from the South can just walk in.
The Vatican Jesuit NWO fascist take over has begun.

Ohh brother...

Where do these people come from?

Mooneybravo, do you have something to contribute, some refutation fo BoB's statements, or anything other than rolling of your eyes?

Gold is only worth what other people are willing to pay or trade for it. If the global economy crashes, which is what will happen if the dollar crashes, that gold portfolio won't buy you food.

I've cut my fuel expenses in half thanks to a very well timed total loss of my vehicle. I've moved from a 15 MPG UAV (Urban Assault Vehicle) to a 30 MPG sedan. Bring it on oil mongerers!

Originally posted by Nygdan
Mooneybravo, do you have something to contribute, some refutation fo BoB's statements, or anything other than rolling of your eyes?

Yes!

I have allot to contribute in refutation but I don't want to get banned.

Originally posted by apc
Gold is only worth what other people are willing to pay or trade for it. If the global economy crashes, which is what will happen if the dollar crashes, that gold portfolio won't buy you food.

If the global economy crashes, why would gold be valued less? I can see why currency would be valued less. Would the demand suddenly drop? Then instead of gold, food would be the new gold maybe? I can't see people not wanting gold. There will always be some person with enough extra stuff to buy some gold. Gold is rare, and rarity attracts people, I don't see that changing soon.

If we're in a situation where paper money is worthless and account balances are meaningless, if they even exist, what exactly are you going to buy with a few gold coins? I say this because I have to ask, if the US economy has collapsed, just how much other S has HTF? I'm guessing a lot.

Originally posted by apc
If we're in a situation where paper money is worthless and account balances are meaningless, if they even exist, what exactly are you going to buy with a few gold coins? I say this because I have to ask, if the US economy has collapsed, just how much other S has HTF? I'm guessing a lot.

Gold is valuable because people want it. Gold coins would be valued as to how big they were. bracelets, golden rings, etc. would be made of gold and people who can afford it, would buy it. They would buy it to show off that they can buy it, because throughout the ages thats what the rich would do.

Gold would only be valuable for international trade based on the prospects of economic recovery... that one day in the future the gold would be worth something again. But no merchant is going to accept gold in exchange for goods.

The only way Joe Bob Consumer will be able to fall back on gold is if there is no collapse at all, but merely a very strong recession. If paper money still has some value.

Originally posted by MooneyBravo
I have allot to contribute in refutation but I don't want to get banned.

I think you should at least try, just choose your words carefully.

Originally posted by MooneyBravo
I have allot to contribute in refutation but I don't want to get banned.

If you can't contribute without breaking the terms of service, such as personally attacking other members, then please don't contribute.

Well, high oil prices are one way to get the sheeple involved or at least affected by the possibility of war with Iran.

If they have to pay more to continue their SUV lifestyle I can guarantee there will be more support for an attack.