Thursday, May 22, 2008

One Hundred Thirty Three Dollar Oil

Oil finished at $133.17 yesterday, a record high close.

Copyright (C) 2008 James Michael Brennan, All Rights Reserved

posted by Mike Brennan @ 7:47 AM   0 comments

Tuesday, May 20, 2008

One Hundred Twenty Nine Dollar Oil

Oil finished today at $129.07, a record high close.

Copyright (C) 2008 James Michael Brennan, All Rights Reserved

posted by Mike Brennan @ 6:01 PM   0 comments

One Hundred Twenty Seven Dollar Oil

Oil finished yesterday at $127.05 a record high close.

Copyright (C) 2008 James Michael Brennan, All Rights Reserved

posted by Mike Brennan @ 6:58 AM   0 comments

Saturday, May 10, 2008

One Hundred Twenty Six Dollar Oil

Oil finished yesterday at $125.96, a record high close. Gas is now averaging $3.67 a gallon nationwide.

The record high prices are already having an effect on American travel and consumption habits. There has been a huge new surge of mass transit use. And the purchase of smaller, more fuel efficient cars is up dramatically.


Update May 16: Oil closed at a new high of $126.29.

Copyright (C) 2008 James Michael Brennan, All Rights

posted by Mike Brennan @ 9:08 AM   0 comments

Wednesday, May 07, 2008

One Hundred Twenty Three+ Dollar Oil

Oil finished today at $123.53, a record high close.

Update May 8: Oil closed at a record $123.69.

Copyright (C) 2008 James Michael Brennan, All Rights Reserved

posted by Mike Brennan @ 4:42 PM   0 comments

One Hundred Twenty Two (Almost) Dollar Oil

Oil finished yesterday at $121.84, a record high close.

Copyright (C) 2008 James Michael Brennan, All Rights Reserved

posted by Mike Brennan @ 8:15 AM   0 comments

Monday, May 05, 2008

One Hundred Twenty Dollar Oil

Oil finished today at $119.97, a record high close. What, you don't think that qualifies as $120 oil? Picky, picky.

National average gasoline prices are also up fifteen cents in the past two weeks. As we've seen, John McCain and Hillary Clinton have come out in favor of a temporary suspension of the federal gasoline tax, although every economist on record has opposed the idea. Clinton has suggested a windfall profits tax on big oil companies to pay for the gas tax holiday. Barack Obama, meanwhile, refuses to pander.

Remember the last time politicians suggested suspending the federal gas tax, and implementing a windfall profits tax on big oil? I do. I wrote about it.

Copyright (C) 2008 James Michael Brennan, All Rights Reserved

posted by Mike Brennan @ 8:57 PM   0 comments