Oil Races $1 Higher

CNNFN ^ | 3-15-2004 | Reuters

[paul544]

LONDON (Reuters) - Oil prices raced higher Monday as signals grew that al Qaeda was behind the Madrid bombings, raising fears of future attacks that could disrupt energy supplies.

London Brent crude jumped $1, or 3.1 percent, to $33.24 a barrel while U.S. light crude prices leapt $1.08 higher to $37.27 a barrel.

[raloxk]

Bush needs to STOP adding oil the the SPR.

No incument party has ever won re-election when the price of oil was rising

[kaktuskid]

Of course your buddy Clintoon pulled oil out of the SPR to effect the election!

[raloxk]

yes I remember he did do that in 2000.

Bush shoudl stop adding oil to the SPR. I have written my representatives to this effect. I dont for the life of me understand why they are so dogmatic about adding oil to the SPR when it is $37 per barrel

[TheBattman]

The double-talk regarding oil continues. I just read a report earlier today indicating a 30+cent drop in the crude oil prices - blaming the price drop on fears that AlQaeda was responsible for the Madrid bombings.

Now we hear the same excuse used for an oil price INCREASE. Makes perfect sense to me..... [/sarcasm off]

I do agree - high oil prices will NOT help the economy or job creation. Depending upon just how high gasoline prices get, it could become a truly serious issue in the fall elections - even if GW has no direct control over the issue (which some will argue with).