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


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