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BACK DOOR BOY IN A FRONT DOOR WORLD
OUTSIDE OF SOCIETY - THAT'S WHERE I WANT TO BE
Fuck. 
2nd-Jan-2008 07:41 pm
Oil hits record $100
NEW YORK (Reuters) - Oil prices vaulted to a record $100 a barrel on Wednesday as violence in Nigeria, tight energy stockpiles and a weaker dollar triggered a surge of speculative buying, dealers said.

Oil's climb to the psychologically key triple-digit price helped send stocks tumbling on Wall Street and further darkened an already gloomy economic outlook in the United States, which has been battered by a housing crisis and credit crunch.

"Oil hitting $100 a barrel has sparked some concerns about the consumer and inflation," said Todd Salamone, vice president of research at Schaeffer's Investment Research.

U.S. crude traded once at $100 a barrel, up $4.02, before easing back to settle $3.64 higher at $99.62. It remains below the inflation-adjusted high of $101.70 hit in April 1980, a year after the Iranian revolution.
Comments 
3rd-Jan-2008 02:40 am (UTC)
Used to be people said they would stop taking trips, drives for the weekends, etc when gas prices hit $3.00 a gallon. That has now went up to $4.00 a gallon.

I'll admit that I don't take the long drives any more. I try my best to combine errands into one trip.
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