Oil rises above $81 as cold weather chills U.S.

MSNBC ^ | 1/4/2009 | AP

[Signalman]

NEW YORK - Oil started the new year Monday trading above $81 a barrel, almost double what it fetched at the beginning of 2009 even though the U.S. is using much less.

Prices, which have been propped up by a weak dollar, will get even more support as winter weather chills the country. That means gasoline, heating oil and other fuels are also probably headed higher as the market tests how much people are willing to pay for energy, analysts said.

"It looks like Antarctica out there," analyst Stephen Schork said. "It's snowing everywhere. This winter is like a gift from the bullish gods."

[Uncle Miltie]

This is impossible because Bernanke assures us that printing excess trillions of dollars will not cause inflation.

[italianquaker]

I am not worried my tires have plenty of air