Friggin oil at 117.00!

[Vtr_Racing]

Marc, we are doing this to ourselves.

The prime motivators to the high price is the very weak dollar, rampant commodities speculation and lack of production on our own continent. Remember the votes against ANWR.

What a ****ing mistake that was.

Yeah, I know. Still doesnt make it any better. Im still wondering what its going to take to piss off the general public enough to make a stand.

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[TauMau]

Im still wondering what its going to take to piss off the general public enough to make a stand.

Everyone is too caught up worrying about the tortoises...

[Vtr_Racing]

The "hoseing" continues. Somebody farted and oil went up!

Crude hits $117.76 on weak dollar, Nigeria pipelines
OPEC says market is well-balanced; gas nears $4 in San Francisco area
By Moming Zhou & Polya Lesova, MarketWatch
Last update: 3:19 p.m. EDT April 21, 2008Print E-mail RSS Disable Live Quotes
SAN FRANCISO (MarketWatch) -- Crude-oil futures rose on Monday to a new record closing price of $117.48 a barrel, as weakness in the U.S. dollar and concerns over supply disruptions buoyed prices.
Crude oil for May delivery settled up 79 cents, or 0.7%, on the New York Mercantile Exchange. It hit a new intraday high of $117.76. Meanwhile, the national average price for gasoline hit another record.
The Movement for the Emancipation of the Niger Delta, or MEND, said its members blew up two more oil pipelines in southern Nigeria, the Associated Press reported Monday.
Crude hit the new record as "the dollar is down again and the Nigerian rebels MEND made good on their threats to have more attacks in Nigeria," said Phil Flynn, vice president of futures brokerage Alaron Trading.
In the currency market, the dollar index, which tracks the greenback's performance against a basket of other major counterparts, dropped 0.5% to 71.59. The falling dollar increases the attraction of crude as an investment alternative and pushes up crude's dollar-denominated prices. See Currencies.
MEND said that it believes the pipelines are operated by Chevron Corp. (CVX:chevron corp new com
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Last: 92.70-0.48-0.52%

4:00pm 04/21/2008

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CVX 92.70, -0.48, -0.5%) and a Royal Dutch Shell PLC (RDS.A:royal dutch shell plc spons adr a
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Last: 76.92+0.53+0.69%

4:00pm 04/21/2008

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RDS.A 76.92, +0.53, +0.7%) joint venture in southern Rivers state, according to the AP.
As a result, Shell said it will cut oil production by 169,000 barrel per day in Nigeria, the AP said. Last week, the rebel group claimed a separate attack on a pipeline operated by a Shell joint venture that Shell said closed down a small amount of production.
Adding to the concerns, a large crude oil tanker operated by a Japanese oil company was hit by a rocket off Yemen, Nippon Yusen K.K., the company that operates the tanker, said Monday on its Web site.
The 150,000 metric ton tanker Takayama was damaged, causing fuel to leak. None of the 23 crew members was injured.
OPEC comments
Organization of Petroleum Exporting Countries President Chakib Khelil said Sunday the producer group shouldn't increase output now because the market was well-balanced, AFP reported.
"There is no need for OPEC to raise its production now... any increase in output will not affect oil prices because there is a balance between supply and demand," Khelil said in comments cited by the KUNA news agency.
OPEC's opinions ran counter to those of oil consumers who are calling for a production hike.
"OPEC should be raising production, because they should be listening to the market and the market is always right on this issue," Flynn said. "OPEC is holding back oil purposely to try to drive up prices, because they feel they can get away with it."
New record gasoline prices
Record crude prices have been pushing gasoline prices higher. At the pump, the average of U.S. retail gasoline prices rose to a new high of $3.503 a gallon, well ahead of lat month's price of $3.266 a gallon, according to the AAA Daily Fuel Gauge Report.
San Francisco is expected to become the first major city to see the price for regular gasoline hit $4 a gallon. On Monday, regular gas averaged $3.976 a gallon in the city, according to AAA.
Also on the Nymex, May reformulated gasoline edged down 1.02 cents to $2.9791 a gallon and May heating oil gained 1.91 cent to $3.3114 a gallon.
May natural gas future rose 14.6 cents to $10.733 per million British thermal units.
Gold futures rose Monday, rebounding from a decline in the previous session. See Metals Stocks.

[TauMau]

I just paid 3.89/gal for 87 at a 76 in Mission Viejo...aye...

[bajafox]

My parents were in Julian this weekend and saw $4.09

In Clairemont here in San Diego I paid $3.79 yesterday

[Roddd]

How many lives have we lost and how much money have we spent rebuilding an oil rich nation? Why are we spending so much on oil?

[dan200]

My parents were in Julian this weekend and saw $4.09

In Clairemont here in San Diego I paid $3.79 yesterday

$3.99 to $4.19 a gal for unleaded in Chicago yesterday.

[dr shaw6]

Time to buy a scooter!

[TauMau]

Yeah maybe I should start riding my goped to the office.

[pjc]

A great read on this issue.

When Will Oil Prices Stop Rising? Watch the Dollar
http://biz.yahoo.com/cnbc/080421/24239962.html?.v=1