Oil at New High Over $49

LONDON (Reuters) - Oil prices raced to fresh highs on Friday, carrying U.S. crude over $49 a barrel, driven by escalating violence in Iraq and unabated demand growth from China and India.

www.reuters.com.../topNews§ion=news

The prices seems to soar more up everyday. I wonder how long the world economic can handle this situation now that China and India need also more oil for energy. Soon it will probably peak 50$/barrel.

This is going to have a profound impact on western civilization, especially. In perhaps one month at the most two. We are still purchasing cheap oil at 30 dollars a barrel if you think that is cheap. Grab your knees and kiss your SUV's goodbye

Crap this makes me a poet,

TUT

Well, I got only a bicycle thesedays so don't have to spend money to gasoline. Of course the price of daily goods will start to go up too since everything is moved with trucks, ships, aeroplanes etc.

sell your stocks laddies!

Buy stocks in Halliburton, BP Amoco, and any other oil company you can think of!

They're getting rich off you, may as well try and get rich off them.


Thank GOD that the Middle East has been stabilized in Afghanistan and Iraq, I'd hate to think what would happen to oil prices if it was a mess over there.

Hey waiiiit a sec

Originally posted by Romeo
sell your stocks laddies!

Wait for the big companies to go down, then buy like crazy! Things will even out in a year or two and they will be right back up to where they were... or higher!