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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 12:17 pm (UTC)
Expensive oil is a very good thing. We use too much of it, and that's why repressive regimes across the world fuck us (sans lube). As prices go up and stay up, behaviors change, patterns of development change, and renewables gain a greater foothold, bringing us closer to the day when we can tell the Saudis to go fuck themselves.

Bring. It. On.
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