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Thread: Oil prices hit new record

  1. #1
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    Default Oil prices hit new record

    Oil prices smashed above $86 a barrel today as tensions in the Middle East and uncertainties about the American economy pushed prices into record territory.

    http://www.nytimes.com/2007/10/16/bu...hp&oref=slogin

  2. #2
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    Default Re: Oil prices hit new record

    The articles keep mentioning that the price is still below $90 when adjusted for inflation that America experienced during Iran crisis. What is not mentioned however is that the Iran thing was temporary but these prices today are here to stay.

  3. #3

    Default Re: Oil prices hit new record

    As the dollar continues to decline against other major currencies the price of oil imported to the US will continue to rise. The real trouble will begin as the oil exporting nations start to demand oil payments in euros instead of dollars.

  4. #4
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    Default Re: Oil prices hit new record

    If they do, watch the government put them on the terrorist list and promote an invasion.

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