Eighty Dollar Oil

After trading above the eighty dollar mark during the day, oil closed yesterday within spitting distance of eighty dollars per barrel, at $79.91. That's yet another record close. Demand remains strong. (What, you thought those 2+ billions of Chinese and Indians would change their minds about developing their economies and aiming for the same unsustainable standard of living that Americans enjoy?) Supplies remain, and always will be, tight.

Copyright (C) 2007 James Michael Brennan, All Rights Reserved