Fear pushing oil higher?
What happens to oil if Israel attacks Iran?As I write this, oil has just shot up to almost $139 per barrel, based upon almost no new news, except for the latest sabre-rattling between Israel and Iran. Many are calling this latest run up in prices pure speculation. Maybe, but if Israel and Iran start fighting, it is easy to imagine much higher oil prices.
I can see it now, a $10,000 Prius dealer markup.
Labels: Foreign Oil Dependency
posted by Dahcredyns at
12:06 PM
2 Comments:
Just watched an analyst say that today's oil run up might lead to $.10-15 cent increase in gas prices in some areas by the end of the weeekend.
crazy.
This is crazy!! people are going to go nuts over these prices. Back here they are charging AUD$1.80 a liter!! oil prices are outrages. the only people making profit from this are the big chain supermarkets, giving AUD$0.10 discounts to shoppers if they spend enough in their stores. I suggest everyone installs this:
http://www.pressportal.com.au/news/120/ARTICLE/2306/2008-06-05.html
and start phasing out fuel already!
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