Oil soars $2 a barrel, but hey who gives a shit?

[edbermac]

I'm more worried about Michael Jackson!

NEW YORK (Reuters) - Crude oil surged 4 percent Monday as dealers worried that rising global demand for diesel would outpace refiners' ability to produce the fuel, and OPEC ministers signaled the cartel is powerless to rein in runaway prices with an output hike.

U.S. light crude for July delivery soared $2.08 to settle at $55.62 a barrel on the New York Mercantile Exchange, after a 1.4 percent slide Friday. London Brent futures, which fell more than $1 Friday, were $2.11 higher at $54.78 a barrel on the International Petroleum Exchange.

The strength tracked big gains in heating oil and gas oil futures as oil traders focused on surging world diesel consumption, which could leave consumers with tight distillate stockpiles ahead of the Northern Hemisphere winter.

Heating-oil futures, which are the benchmark for pricing distillates like diesel and jet fuel, jumped to a fresh two-month high, near $1.68 a gallon.

http://money.cnn.com/2005/06/13/markets/oil.reut/index.htm?cnn=yes

[tjdee]

1. Are you saying Michael Jackson overpaid for the gas in his SUV

that is now taking him to court?

The horror!

[norml]

2. Don't blame me, I'm watching CNBC.

And I was just planning to tank up.

[jobycom]

3. The effects of the Jackson verdict are already being felt, then.

[yellowdogintexas]

4. inflated oil prices are keeping my husband employed at the

job he loves most: well site geology.

That is my silver lining to the cloud note for today. I try to rememember this every time I fill up my car and it costs twice as much as a year ago.

[Initech]

5. I keep saying that

There's no connection between having oil barons controlling all branches of government and rising gas prices. And you'd be a fool to make that connection.

:sarcasm:

[jandrok]

6. Don't interrupt the infotainment for real news!

What the hell are you thinking? Next you'll be prattling on about some Limey memo about fixed pre-Iraq war intelligence or somthing equally ridiculous. Don't you know there's more important things happening in the world?

[MrSlayer]

7. The gas bill at Neverland must be enormous.

Can you imagine how much our beloved MJ spends to maintain his ranch? I need to know.