werdd
11-08-2007, 06:41 PM
I was talking to him today about the skyrocketing oil prices. He told me that when he worked, oil was 15 bucks a barrel, and right at the fall of sun oil in Texas, oil rose to 40 bucks because we began buying it overseas. They thought 40 bucks a barrel was outrageous in the late eighties. Here we are, 97 dollars a barrel of crude today and the sky is really the limit.
I was watching jim cramer, and like him or not he is generally pretty good with his predictions. He predicts that 3-5 years from now, we could be seeing prices like 200-300 dollars a barrel, paying 10 bucks at the pump per gallon of unleaded.
It is a combination of our failing dollar, and the enivetiable reaching of peak oil, that some beleive we have just breached. Not to mention that petro china tripled its assets this week, making it the first trillion dollar corporation.
Further evidence that we need Ron Paul more now than ever... the US is losing its grip.
I was watching jim cramer, and like him or not he is generally pretty good with his predictions. He predicts that 3-5 years from now, we could be seeing prices like 200-300 dollars a barrel, paying 10 bucks at the pump per gallon of unleaded.
It is a combination of our failing dollar, and the enivetiable reaching of peak oil, that some beleive we have just breached. Not to mention that petro china tripled its assets this week, making it the first trillion dollar corporation.
Further evidence that we need Ron Paul more now than ever... the US is losing its grip.