Oil prices rise to record above $98 a barrel

AP via Houston Chronicle ^ | Nov. 7, 2007, 6:23AM | GEORGE JAHN

[My Favorite Headache]

Christmas time is going to find many trees sitting in living rooms with 40% less gifts than last year. Everyone I know is practically working 2 jobs or working more overtime than they ever have and their gas budget has a lot to do with it.

[thackney]

I wonder how long it will take Florida to realize high fuel price mostly affect selective spending like travel?

No offshore oil rigs are going to be cutting into the number of vacationers traveling.

[My Favorite Headache]

Waiting for it to effect Disney and tourism...I expect it will trickle down in 60 days or so.

[MATSEVAH]

HELL WHAT IS REALLY BAD WE HAVE NOT EVEN STARTED ATTACKING IRAN OR SYRIA YET, NO TERRORIST ATTACKS ,BOY ITS GOING BE REALLY BAD WHEN THE MIDDLE EAST GOES UP AND IT WILL GO UP $100.OO WILL BE NOTHING THE JOB MARKET WILL SINK LIKE THE TITANIC.

[mtnwmn]

They are just next door. Can they deliver more? Or, why aren’t we getting more from Mexico?

[thackney]

Can they deliver more?

Not really. Their refinery capacity is about 75% of their own consumption.

[mysterio]

I WAS JUST WATCHING FOX NEWS AND THEY WAS SAYING A BIG GURU WAS SAYING $100.00 OIL WAS NO PROBLEM

Yeah, I've heard that a lot around here, too. Maybe when people like me and the rest of the lower middle class stop buying tons of imported junk this holiday season, it won't be a problem for the gurus.

[reagan_fanatic]

Where are all the FReepers who keep claiming that in regards to crude prices, the 'bubble is going to burst any day now'?

I've been waiting a long time for a sign, but crude prices continue their relentless climb into the stratosphere with no apparent end in sight.

[Gritty]

What? No screaming headlines or massive political posturing and Congressional outrage, investigations, and promises to "fix" this oil-fueled gang-rape of America? That's what happened last year before the elections, when the GOP ran the House and Senate!!

Oh, wait a minute. I think I get the picture now. Never mind.

[mtnwmn]

Could they add on to create more capacity?

[ZULU]

Wait until the Saudis and others reject the American dollar.

[thackney]

Sure, just like the US is expanding our capacity. But it takes years, even when you don’t have the EPA to answer to. Pemex, which is owned by the Mexican government, has been taking most of their profits and spending it on their social programs. Far too little is being invested into infrastructure. And foreign or private investment is illegal.

[Rummenigge]

“Bushs fault”

It’s not ?

[CSM]

“Everyone I know is practically working 2 jobs or working more overtime than they ever have and their gas budget has a lot to do with it.”

I bet they still drink bottled water, stop at starbucks and do not carpool. Gas prices are not high enough for people to actually start to change, but they are high enough for everyone to complain about. I just love it when they interview some gas station customer about gas prices and he is standing their with a couple of bottles of water as he complains.

[Slapshot68]

It is?

[M. Espinola]

Oil Prices Resume March Toward $100

[Hydroshock]

[M. Espinola]

There are four houses which must be flipped by the weekend, so I will require four of those Ditech ultra-sub-sub-prime loans :)