Oil prices tumble with US inventories bulging

Light, sweet crude for February delivery fell more than 4 percent, or $1.56 per barrel, to $36.22 a barrel on the New York Mercantile Exchange after trading as high as $39.45.

Yahoo news

Oil is under $40/barrel and yet gas prices have risen to $2.00/gallon.

This is after the production cuts urged by Russia/Iran and chavez.

it's not only theUSA ....
the talking heads on TV tell us that most all the world's oil tankers are filling up on crude....

and are just sitting offshore with a full load of crude...
waiting for the price to go up to find out their destination.

wow


[edit on 14-1-2009 by St Udio]