It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Oil spikes $25 a barrel on anxiety over US bailout

page: 1
0

log in

join
share:

posted on Sep, 22 2008 @ 01:38 PM
link   


Monday September 22, 2:24 pm ET
Oil prices shoot up over $25 a barrel as anxiety over US bailout weighs on dollar

NEW YORK (AP) -- Oil prices are spiking more than $25 a barrel as rising anxiety over the U.S. government's proposed bailout of the financial system batters the dollar and sends investors scrambling for safe-haven assets.

Investors worried Monday that the mammoth $700 billion rescue proposal will dramatically ramp up U.S. borrowing, an inflationary move that sent the dollar sharply lower versus its rivals.

Light, sweet crude for October delivery was up $25.45 to $130.00 on the New York Mercantile Exchange.


biz.yahoo.com...




posted on Sep, 22 2008 @ 01:40 PM
link   
To all you guys saying the bailouts are a good thing, this is what we get! This is the typical outcome of liberalism - cut off one evil head and three more grow back. Save the failing credit companies to stabilize the market? Look at the cost. The cost is a worthless currency and through the roof commodities because investors will use them as a hedge against the declining currency.

THIS IS WHAT LIBERALISM DOES. Government buyouts of businesses when the nation is in a debt crisis destroys the economy for ALL instead of just letting the companies collapse and hurting a few. We're bleeding ourselves to death. We're making the situation WORSE. NO MORE BAILOUTS!



posted on Sep, 22 2008 @ 01:42 PM
link   
Please add to existing discussion : Here

Thanks



 
0

log in

join