BREAKING: Barrel of oil hits $100.10, closes at $100.01

The closing price for a barrel of oil today was $100.01 and the intra-day high was $100.10. These prices are the highest a barrel of oil has ever traded or closed. No single news event brought the price of oil to these new highs but there are concerns OPEC will tighten supplies next month. We will have more as this story develops.
Related:
[Source: AOL Money and Finance]
Reader Comments (Page 1 of 1)
Student Driver 12:10AM (2/20/2008)
I guess I picked a good time to get a 2008 Honda Fit in place of my WRX.
Reply
Karen Pease 1:16AM (2/20/2008)
"Breaking news"? It's only a symbol. Besides, on scales shorter than 5-10 years, oil prices are dominated by events that can't be predicted in the long term -- political decisions, wars and unrest, natural disasters, market speculation, etc.
To head off the peak oil people:
http://www.daughtersoftiresias.org/greenwiki/Peak_oil
Reply
Ideno 1:50AM (2/20/2008)
http://www.nytimes.com/2008/02/19/science/19carb.html?_r=1&oref=slogin
A tip for you, Lascelles.
Reply
jake 3:28AM (2/20/2008)
@Ideno
Interesting article, but seeing as it requires a nuclear plant, there needs to be an analysis done on it to see how much net energy you can get from the process and if it is really worth it. Seems it's just an idea so far and pretty far from actual real usage. I hope it doesn't turn out as impractical as the hydrogen pipe dream.
Reply
Mort 8:47AM (2/20/2008)
It will have to double again, with an economic depression and shortages too, before people in the U.S. will conserve in any meaningful way.
Reply
truth machine 6:09PM (6/05/2008)
To head off the peak oil people
Hardly. Your article starts out with an absurdly mistaken charge of "appeal to authority" and goes downhill from there. For an intellectually honest discussion of this issue, see http://en.wikipedia.org/wiki/Peak_oil
Reply