Oil sits above $61 as storm nears

[arcos]

Oil sits above $61 as storm nears

Tropical Storm Emily is expected to hit the Gulf and US mainland early next week and could become a hurricane.

The Gulf - which provides 30% of US oil output - has already been battered by Hurricane Dennis.

The price of US light, sweet crude rose 1% to $61.22. In London, Brent crude was up 1.1% at $59.48.

<snip>

http://news.bbc.co.uk/1/hi/business/4678033.stm

[Demeter]

1. Any Excuse For A Price Increase

That's called inflation, isn't it? Moving the market by fear. If I were powerful, I'd worry a lot more about a collapsing economy. But then, I'm not Republican.

[rman]

2. any excuse to prevent the notion of depletion entering the public mind

-

[endarkenment]

3. yeah they might start to wonder

why we have done NOTHING regarding conservation or alternative energy sources since CARTER left office.

But heck now you can buy a Hummer-lite, so not to worry your pretty little head.