[OHPV-list] Oil prices

[markmurphy1951 at aol.com]

 Oil prices

    The price of a barrel of oil has shot up $3.71 to $92.81 roaring
past $90 a barrel for the first time ever.  This comes just two or
three weeks after exceeding $80 a barrel for the first time.  The
latest run up seems to be the result of the announcement of lower
than expected inventories of oil plus another monumentally stupid
foreign policy move by the Bush administration, namely the imposition
of new sanctions on Iran including declaring their Quds Force a
terrorist organization.  We've been in a pattern the last several
months of run ups in the price of oil followed by drops that never
make it all the way back to the previous low so that the next run up
starts at a higher level.  We may soon have $100 a barrel oil, five
times the price just two or three years ago.

mark


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