Seventy-Five Dollar Oil

Oil closed at $75.17 a barrel yesterday as gas prices pushed $3.00 per gallon.

Over the past year, I've noted these oil mileposts:

• April 18, 2006 - $71
• January 20, 2006 - $68
• August 12, 2005 - $66
• August 11, 2005 - $65
• August 8, 2005 - $64
• June 23, 2005 - $60

And before all that, on April 1, 2005, I described the the sobering implications of "Hubbert's Pimple". The implications are as sobering as ever.

Cheers!

Copyright (C) 2006 James Michael Brennan, All Rights Reserved