27 years wasted.
27 years where we could have been well on our way to freedom from foreign
oil.
Who's responsible?
Reagan.
Republicans
That's who.
<Video61@[EMAIL PROTECTED]
> wrote in message
news:802aa92a-2b80-4083-b0ad-3585d1ca1d83@[EMAIL PROTECTED]
> reagan tore down the solar panels, let the markets decide,
> conservative/toon debacles just keep on setting records, Oil prices
> surged above $108 to a new inflation-adjusted record and their fifth
> new high in the last six sessions
>
> http://biz.yahoo.com/ap/080310/oil_prices.html
>
>
> Gas Prices Near Records, Following Oil
> Monday March 10, 3:50 pm ET
> By John Wilen, AP Business Writer
>
> Gas Prices, Following Oil's Recent Surge, Are Close to Surpassing Last
> Spring's Record
>
> NEW YORK (AP) -- Gasoline prices were poised Monday to set a new
> record at the pump, having surged to within half a cent of their
> record high of $3.227 a gallon. Oil prices, meanwhile, surged above
> $108 to a new inflation-adjusted record and their fifth new high in
> the last six sessions on an upbeat re****t on wholesale inventories.
>
> The national average price of a gallon of gas rose 0.7 cent overnight
> to $3.222 a gallon, 69 cents higher than one year ago, according to
> AAA and the Oil Price Information Service. Last May, prices peaked at
> $3.227 as surging demand and a string of refinery outages raised
> concerns about supplies.
> That record will likely be left in the dust soon as gas prices
> accelerate toward levels that could approach $4 a gallon, though most
> analysts believe prices will peak below that psychologically
> significant mark. In its last forecast, released last month, the
> Energy Department said prices will likely peak around $3.40 a gallon
> this spring; a new forecast is due Tuesday.
> Retail gas prices are following crude oil, which has jumped 25 percent
> in a month. On Monday, crude prices surged to yet another record after
> the Commerce Department said wholesale sales jumped by 2.7 percent in
> January, their biggest increase in four years, according to Dow Jones
> Newswires.
> The strong sales re****t suggested to oil traders that the struggling
> economy may be doing better than thought.
> Light, sweet crude for April delivery rose $2.75 to settle at a record
> $107.90 on the New York Mercantile Exchange after earlier setting a
> new trading record of $108.21.
> Energy investors shrugged off a relative stabilization of the dollar
> and a cooling in tensions between Venezuela and its neighbors Colombia
> and Ecuador.
> Many analysts believe speculative investing attracted by the weak
> dollar is the primary reason oil has risen so far so fast in recent
> months. Crude futures offer a hedge against a falling dollar, and oil
> futures bought and sold in dollars are more attractive to foreign
> investors when the dollar is falling.
> "We've got a Fed(eral Reserve) meeting on the 18th that could see a
> sizeable rate cut," said Brad Samples, an analyst with Summit Energy
> Services Inc., in Louisville, Ky. "So, it's not over."
> Indeed, while the dollar rose against the euro on Monday, many
> investors believe the greenback is likely to keep falling as the Fed
> continues to cut rates. Many analysts believe the rise in crude prices
> is not sup****ted by the market's underlying fundamentals, noting that
> supplies are generally rising while demand is falling.
> "By gobbling up everything in sight, (investors) are pu****ng food and
> fuel prices to ruinously high levels," said Peter Beutel, president of
> the energy risk management firm Cameron Hanover, in a research note.
> Investors shrugged off a weekend cooling of tensions in South America,
> where Venezuela said Sunday it was restoring full diplomatic ties with
> Colombia after they were broken off following a cross-border Colombian
> attack on a leftist rebel camp in Ecuador.
> Last week, rebels shut down a Colombian oil pipeline in retaliation
> for the Colombian raid into Ecuador. Venezuela threatened to slash
> trade and nationalize Colombian-owned businesses, and Venezuela and
> Ecuador briefly sent troops to their borders with Colombia.
> The potential for conflict involving Venezuela, an OPEC member and
> major U.S. oil supplier, helped push oil higher last week.
> "The Venezuelan production was at risk there," Samples said.
> Other energy futures also rose Monday. April heating oil futures rose
> 2.64 cents to settle at $2.9734 a gallon while April gasoline futures
> rose 2.06 cents to settle at $2.7149 a gallon.
> April natural gas futures jumped 25.5 cents to $10.024 per 1,000 cubic
> feet, the first time a natural gas contract has closed above $10 since
> January 2006. Natural gas was following oil higher, but also rising in
> anticipation of cooler temperatures across the Midwest and Northeast,
> analysts said.
> In London, Brent crude futures rose $1.78 to $104.16 a barrel on the
> ICE Futures exchange.
> Associated Press writers Pablo Gorondi in Budapest and Gillian Wong in
> Singa****e contributed to this re****t.
>
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