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Oil Prices Surpass $109 a Barrel

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posted on Mar, 11 2008 @ 02:05 PM
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Oil Prices Surpass $109 a Barrel


www.breitbart.com

VIENNA, Austria (AP) - Oil prices briefly are surging above $109 a barrel for the first time.
The rise comes as International Energy Agency is warning that there is unlikely to be much relief from current high oil prices because of brisk demand in China and other emerging markets.

Light, sweet crude for April delivery briefly climbed to $109.20 a barrel in electronic trading on the New York Mercantile Exchange by midday Tuesday in Europe.

The contract later fell back to $108.75 but that is still 54 cents above the previous high set on Monday.
(visit the link for the full news article)




posted on Mar, 11 2008 @ 02:05 PM
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We are making history in the realm of oil and fuel prices. Already its impact is being felt by those who are less fortunate. The boost the fed gave the economy todays is more than likley only temporary. Alot of this I predicted last year, the prices and economic downturn. Like the warnings I gave before, stay way from debt inducing devices like loans and credit cards and consider savings a bill you have to pay. The standard of living for most people is becoming more and more expensive. Most people in the US make $40,000 or less a year. For a family who does not watch their spending or debts, that isn't enough.

The only way families who make that much and especially less are going to come out of this alright is to be fiscally wise, responsible and disciplined. I have seen friends and relatives in the last few months financially destroy themsleves because they failed to be those things.

www.breitbart.com
(visit the link for the full news article)

[edit on 11/3/08 by MikeboydUS]



posted on Mar, 11 2008 @ 02:14 PM
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Add this profiteering of record proportions on top of the sky-rocketing food prices and crap job market, and all the recipes for disaster on a wide scale are firmly set into place, with nowhere to go but down. And this is just the beginning---We ain't seen nothin' yet.



 
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